Course Description

The essentials of arithmetic and its applications, including fractions, decimals, percentages, mathematics of buying and selling, payroll, taxes, depreciation and inventory are examined. Students are introduced to the mathematics of finance, including simple and compound interest, annuities, sinking funds, amortization and consumer credit.

Vocational Learning Outcomes

This course provides the opportunity for you to achieve the following outcomes:

0214C01FWO - Business - Accounting

VLO 3 Contribute to recurring decision-making by applying fundamental management accounting concepts. (T, A)

0214C07PAO - Business - Accounting

VLO 3 Contribute to recurring decision-making by applying fundamental management accounting concepts. (T, A)

0214C09FAO - Business - Accounting

VLO 3 Contribute to recurring decision-making by applying fundamental management accounting concepts. (T, A)

1315X01FWO - Bookkeeping and Accounting Practices

VLO 5 Apply fundamental mathematical methods and procedures to support bookkeeping practices and the preparation of financial information. (T, A)

1457X01FWO - Business Fundamentals

VLO 3 Use current technologies to support an organization's business initiatives. (T, A)
VLO 4 Apply basic research skills to support business decision making. (T, A)
VLO 5 Perform basic accounting procedures and financial calculations to support the operations of an organization. (T, A)

1457X07PAO - Business Fundamentals

VLO 3 Use current technologies to support an organization's business initiatives. (T, A)
VLO 4 Apply basic research skills to support business decision making. (T, A)
VLO 5 Perform basic accounting procedures and financial calculations to support the operations of an organization. (T, A)

1457X09FAO - Business Fundamentals

VLO 3 Use current technologies to support an organization's business initiatives. (T, A)
VLO 4 Apply basic research skills to support business decision making. (T, A)
VLO 5 Perform basic accounting procedures and financial calculations to support the operations of an organization. (T, A)
Assessment Levels —T: Taught A: Assessed CP: Culminating Performance 

Essential Employability Skills

This course contributes to your program by helping you achieve the following Essential Employability Skills:

EES 3 Execute mathematical operations accurately. (T, A)
EES 4 Apply a systematic approach to solve problems. (T, A)
Assessment Levels —T: Taught A: Assessed CP: Culminating Performance 

Course Learning Outcomes / Elements of Performance

When you have earned credit for this course, you will have demonstrated the ability to:

1. Perform Arithmetic calculation

  • amplify arithmetic expressions using the basic order of operation to prevent miscommunication
  • determine equivalent fractions and convert fractions to decimals to gain an essential math skill that's necessary for everything from basic algebra to advanced calculus.
  • compute simple arithmetic and weighted averages that are widely used in practice
  • determine gross earnings for employees remunerated by the payment of salaries, hourly wages, or commissions
  • compute GST, HST, PST, sales taxes and property taxes that must be paid for services provided by the government.

2. Use the Basic of Algebra to create your own equation, and solve it to answer the problem

  • simplify algebraic expressions using fundamental operations and substitution to solve algebra problems.
  • simplify and evaluate powers with positive exponents, negative exponents, and exponent zero to solve mathematical expressions.
  • use an electronic calculator to compute the numerical value of arithmetic expressions involving fractional exponents
  • write exponential equations in logarithmic form and use an electronic calculator equipped with a natural logarithm function to determine the value of natural logarithms
  • solve basic equations using addition, subtraction, multiplication, and division
  • solve equations involving algebraic simplification and formula rearrangement
  • solve word problems by creating and solving equations

3. Developing competence with Ratio, Proportion, and Percent

  • use ratios and proportions to solve allocation and equivalence problems
  • convert percents, common fractions, and decimals to change the format of a number.
  • find percents and percent bases to solve business problems.
  • find rates and original quantities for increase and decrease problems
  • use proportions and currency cross rate tables to convert currency
  • use index numbers and the Consumer Price Index to compute purchasing power of the Canadian dollar
  • use federal income tax brackets and tax rates to calculate federal income taxes

4. Solve algebraically or graphically any Linear System that consists of two equations in two variables

  • solve linear systems consisting of two simultaneous equations in two variables using algebraic elimination
  • graph linear equalities in two variables to produce a true statement when the values of x and y are substituted into the inequality.
  • graph linear systems consisting of two linear relations in two variables to identify a specific point of intersection
  • solve problems by setting up systems of linear equations in two variables to find a unique solution

5. Compute Cost-Volume-Profit Analysis and Break-Even

  • construct and interpret cost-volume-profit charts that looks primarily at the effects of differing levels of activity on the financial results of a business.
  • compute break-even values using cost-volume-profit relationships that help you analyze these factors in your business and make better business decisions.
  • compute break-even values using contribution margin and contribution rate
  • compute the effects of changes to cost, volume, and profit

6. Trade Discounts, Cash Discounts, Markup, and Markdown

  • solve problems involving trade discounts that are allowed from the amount of the bill.
  • calculate equivalent single rates of discount for a discount series
  • apply methods of cash discount to reduce the amount of an invoice that the seller allows the buyer.
  • solve problems involving markup based on either cost of selling price
  • solve problems involving markdown in such scenarios.
  • solve integrated problems involving discounts, markup, and markdown

7. Calculate the rent charged for the use of money (Simple interest)

  • compute the amount of simple interest using the formulaI = Prt
  • compute the principal, interest rate, or time using variations of the formula  I = Prt
  • compute the maturity value (future value) using the formula                                            S = P(1 + rt)
  • compute the principal (present value) using the formula P= S/(1+rt)
  • compute equivalent or dated values for specified focal dates

8. To apply Simple Interest to short term promissory notes, treasure bills, line of credits, credit card loans, and demand loan

  • compute maturity value and present value for promissory notes
  • compute present values for treasury bills
  • To compute interest and balances for demand loans
  • compute interest and balances for lines of credit and credit card loans
  • construct repayment schedules for loans using blended payments

9. To understand how Compound Interest works to decide on interest terms and to perform compound interest calculation

  • calculate interest rates and the number of compounding periods
  • compute future (maturity) values of investments in order to know how much the present value (PV) of an asset or cash will be worth at a specific time in the future.
  • compute present values of future sums of money
  • discount long-term promissory notes that is subject to compound interest
  • solve problems involving equivalent values when sums of money fall due or are payable at different times.

10. Amortization of Loans, Including Residential Mortgages

  • perform computations associated with amortization of debts involving simple annuities, and construct complete or partial amortization schedules
  • perform computations associated with amortization of debts involving general annuities, and construct complete or partial amortization schedules
  • find the size of the final payment when all payments except the final payment are equal in size
  • compute the effective interest rate for fixed-rate residential mortgages
  • compute the periodic payments for fixed-rate mortgages and for demand mortgages
  • create statements for various types of residential mortgages

Learning Resources

  • Contemporary Business Mathematics with Canadian Applications, 12th Edition, S. A. Hummelbrunner; Kelly Halliday; K. Suzanne Coombs, Pearson Education Canada
  • Handout explaining terminal Assignment requirements
  • Electronic hand calculator
  • Brightspace
  • Mathematical software: EXCEL, MyMathLab or other software – At least one of the above software must be used to demonstrate software application in the delivery of statistics topics.

Learning Activities

Students will be provided with the following in the first week of class: a detailed course outline, mark distribution, and test dates
* Students will be required to complete and submit assignments
* Students will be required to complete and submit quizzes, and tests at specified times. Marks will only be redistributed if and only if a valid doctor's certificate is provided and that the teacher is informed on the test date.
Students will complete Assignments and Quizzes at specified times. A percentage of the class mark will be devoted to the completion of these assignments and quizzes.

Pre-defined Evaluation / Earning Credit

The following list provides evidence of this course's learning achievements and the outcomes they validate:

Assignment(s) (25%)

Validates Outcomes:  CLO 1, CLO 2, CLO 3, CLO 4, CLO 5, CLO 6, CLO 7, CLO 8, CLO 9, CLO 10, EES 3, EES 4

Test(s) (65%)

Validates Outcomes:  CLO 1, CLO 2, CLO 3, CLO 4, CLO 5, CLO 6, CLO 7, CLO 8, CLO 9, CLO 10, EES 3, EES 4

Quiz(zes) (10%)

Validates Outcomes:  CLO 1, CLO 2, CLO 3, CLO 4, CLO 5, CLO 6, CLO 7, CLO 8, CLO 9, CLO 10, EES 3, EES 4

Prior Learning Assessment and Recognition

Students who wish to apply for Prior Learning Assessment and Recognition (PLAR) need to demonstrate competency at a post-secondary level in all outlined course learning outcomes. Evidence of learning achievement for PLAR candidates includes:

  • Challenge Exam
  • Project/Assignment
  • Other: Online Quizzes

Other Information

Students are required to respect the confidentiality of employer, client and/or patient information, interactions, and practices that occur either on Algonquin College premises, or at an affiliated clinical/field/co-op placement site. Concerns regarding clients, patients, and/or employer practices are to be brought to the attention of the program coordinator, or designated field/clinical/co-op placement supervisor so that they may be resolved collaboratively. Such concerns are not to be raised publically either verbally, in writing, or in electronic forums. These matters are to be addressed through established program communication pathways.

Grade Scheme

Final Grade Mark Equivalent Numeric Value Final Grade Mark Equivalent Numeric Value
A+ 90% - 100% 4.0 A 85% - 89% 3.8
A- 80% - 84% 3.6 B+ 77% - 79% 3.3
B 73% - 76% 3.0 B- 70% - 72% 2.7
C+ 67% - 69% 2.3 C 63% - 66% 2.0
C- 60% - 62% 1.7 D+ 57% - 59% 1.4
D 53% - 56% 1.2 D- 50% - 52% 1.0
F 0% - 49% 0 FSP 0 0

Course Related Information

Please refer to the Course Section Information (CSI) / weekly schedule for specific course-related information as provided by your professor.

Program Information

Department Information

School of Business Procedures
The School of Business Procedures file is located under “Course Information” in your course Brightspace  site.  These procedures are specific to School of Business programs and either cover issues not included in College Policies and Directives or elaborate on them.

Student Academic Responsibilities
Each student is responsible for:
• Knowing the due dates for marked out-of-class assignments.
• Knowing the dates of in-class marked assignments and exercises.
• Maintaining a folder of all work done in the course during the semester for validation claims in cases of disagreement with faculty.
• Keeping both paper and electronic copies of all assignments, marked and unmarked, in case papers are lost or go missing;
• Regularly checking both Brightspace announcements as well as one's Algonquin e-mail account for important messages from both professor and college administration.
• Participating in on-line and classroom exercises and activities as required.

Exemptions
Exemptions may be granted to students who have successfully passed an equivalent course at a post-secondary institution. If you wish to apply for an exemption contact the coordinator of the course for academic advice.  To apply for an exemption, you must contact the Registrar’s Office before the deadline listed on your timetable.

Withdrawing From The Course
The last date for withdrawing from courses without academic penalty is printed on your timetable.  The student is responsible for notifying the instructor and completing the appropriate form for withdrawal with the College Registrar.

Software Copyright
In the past few years, the Copyright Act has been updated to cover computer software. If the police lay charges against someone infringing copyright, the maximum penalties for a
summary conviction are "a fine not exceeding $25,000 or imprisonment for a term not
exceeding six months or both." The maximum penalties for an indictable conviction are "a fine not exceeding one million dollars or imprisonment for a term not exceeding five years or both."  Making a copy of software package for your own use, other than a backup copy of package that you have purchased as allowed in your license agreement, would make you liable for the above penalties.

Harassment/Discrimination/Violence
Harassment, discrimination and violence will not be tolerated. Any form of harassment (sexual, racial, gender or disability related), discrimination (direct or indirect), or violence, whether towards a professor or amongst students, will not be tolerated on the college premises. Action taken will start with a formal warning and proceed to the full disciplinary actions as outlined in Algonquin College policy. For further information, refer to the Student Instaguide or get a copy of the official policy statements from the Student Association (Directive A8).  

Plagiarism Detection Software
"Turnitin" and "Safe Assign" plagiarism detection software is in use in the School of Business. Professors may require students to submit their work for review. Students are accountable to Plagiarism Policy AA20 found at http://www2.algonquincollege.com/directives/policy/plagiarism/

Retention of Student Work
Students are advised that original, electronic, or copied samples of their work may be retained for the purpose of program quality review by assessment panels. Unless students have otherwise granted permission, anonymity will be respected for all work retained for the purpose of quality review. Original work samples, may be retained with student agreement and will be returned to students upon request.

Academic Probation or Withdrawal from Academic Program
As per College Policy AA14, which can be found at http://www3.algonquincollege.com/directives/policy/aa14-grading-system/

"A student is on academic probation when the term cumulative grade point average falls below
1.7, or when a student carries 2 or more "F" grades. A student on academic probation may
continue in the program, subject to conditions set by the Academic Administrator. In some
cases, there may be program specific progression requirements which supersede the foregoing.

The transcript message reads:
Academic Probation - Please see your Program Coordinator"

"A student on probation may be required to:
a. reduce his/her course load,
b. withdraw from full-time status within the program, or
c. withdraw completely from the program.

A student required to withdraw completely from Level 01 must reapply through the Ontario
College Application Services. A student required to withdraw from an advanced level of the program must have the approval of the Academic Administrator prior to resuming his/her studies."

College Related Information

Algonquin College’s policies have been developed to ensure the health, safety and security of all students, faculty and staff, and the proper and fair operation of the College as an academic institution and employer.  Please refer to the Algonquin College Policies website for the most current policy information available at http://www.algonquincollege.com/policies/.

Students are especially encouraged to be aware of the following College expectations

Academic Integrity 
Algonquin College is committed to the highest standards of academic integrity, and students are expected to uphold these standards as part of the learning process. Any academic work submitted by a student is expected to be their own work, unless designated otherwise and all sources must be attributed. All students should be familiar with the Algonquin College policy AA48: Academic Integrity .  In some courses, online proctoring may be used to discourage cheating. Additional information can be found at https://www.algonquincollege.com/studentsupportservices/student-learning-kit/preparing-to-learn-online/. Students with any questions about the course expectations for academic dishonesty and plagiarism are encouraged to speak to their professor.

Centre for Accessible Learning
Students with visible and/or non-visible disabilities are encouraged to register with the Centre for Accessible Learning (CAL) in order to be eligible for appropriate learning supports and/or accommodations.  Students are strongly encouraged to make an appointment at the Centre for Accessible Learning as early as possible when starting a program. Once your needs are identified, a Letter of Accommodation (LOA) will be issued which you can share with your professors. If you are a returning student, please ensure that professors are given a copy of your LOA each semester.

College Email
Students at Algonquin College are provided with a college email account. This is the address that will be used when the College, your professors, or your fellow students communicate important information about your program or course activities.  Your network credentials can be found in the ACSIS portal and you are expected to check your Algonquin email regularly and to use it to send and receive college-related email. Support is available through the college Information Technology Service (ITS) at: https://www.algonquincollege.com/its/

Retroactive Accommodations
Students are expected to meet evaluation and completion deadlines as stated in course outline and course section information documents. In circumstances where evaluation and/or completion deadlines are missed or student performance has been affected by a temporary or permanent disability (including mental health), interim or retroactive accommodations may be considered. In such instances, please consult your course faculty member. For other situations where deferral of evaluations may be warranted, please consult Algonquin College Policy AA21: Deferred Evaluation.

Student Course Feedback
Algonquin College’s invites students to share their course experience by completing a student course feedback survey for each course they take. For further details consult Algonquin College Policy AA25: Student Course Feedback.

Use of Mobile Devices in Class
With the proliferation of small, personal mobile devices used for communications and data storage, Algonquin College believes there is a need to address their use during classes and examinations. During classes, the use of such devices can be  disruptive and disrespectful to others. During examinations, the use of such devices may facilitate cheating. For further details consult Algonquin College Policy AA32: Use of Mobile Devices in Class

Technology Requirements
As Algonquin College continues to respond to public health guidelines, many courses will be offered through remote delivery. As such, students will be required to have access to a computer and to the internet. There may also be additional technology-related resources required to participate in a course that are not included in the course materials fee, such as headphones, webcams, specialized software, etc. Details on these requirements can be found in the Course Section Information of the course outline for each course available on Brightspace.

Transfer of Credit
It is the student’s responsibility to retain course outlines for possible future use to support applications for transfer of credit to other educational institutions.