About the course
Unleash your mathematical potential with this essential accounting course that will spring you one step closer towards your goal of attaining the CIMA Professional Chartered Management Accounting qualification. Fundamentals of Business Mathematics 2011 (C03) makes up one of the five required units of the CIMA Certificate in Business Accounting - a condition of entry onto the above course – and makes a great addition to any CV.
Crunch the Numbers
When you mention ‘accounting’ to anyone, whether they’re part of the industry or not, a feel for numbers is something that most would consider a pre-requisite for the career. While mathematics and analysis isn’t the be all and end all of accounting, it does play a major role and understanding the subject is crucial if you aspire to accounting greatness. This course covers the fundamental mathematics that you will need to understand and demonstrate in your career and within as little as 11 study hours, you could be well on your way to doing just that.
Seven Units, One Certification
Split into seven different units, to ensure students aren’t overwhelmed by the volume of material they have to cover, the course delves into subject areas including basic mathematics (15%), probability (15%), summarising and analysing data (15%), relationships between variables (15%), forecasting (15%), financial mathematics (15%) and spreadsheets (10%). With each module contributing a percentage to the overall result, it’s essential that students get to grips with each and every aspect of the course, so that they can continue with their accounting goals competently and confidently.
Key Learning Points
Combine this qualification (C03) with other courses in the CIMA C01 – C05 series to achieve the CIMA Certificate in Business Accounting, which will enable you to enrol on the CIMA Professional Chartered Management Accounting course – a solid foundation for any accounting career.
- Learn how to effectively use formulae to calculate answers, including negative powers such as in the formula for the learning curve. Calculate percentages and ratios and understand the use of decimal places and significant figures and the difference between the two.
- Touch upon solving simple algebraic formulae equations, including simultaneous equations and quadratic equations. Prior knowledge of this, even from your school days, will help you to grasp the concept easier, but there’s nothing to stop even a complete beginner from becoming an algebra whizz!
- Solve simple inequalities and learn how to plot linear and quadratic graphs.
- Understand how to calculate probabilities, including simple conditional probabilities, Venn diagrams and expected values. Explain the limitations of expected values, as well as the concepts of risk and uncertainty.
- Learn how to tabulate data and create graphs, charts and diagrams to display your findings.
- Understand statistical terms and learn how to apply them to both grouped and ungrouped data, including mean, median, mode, standard deviation, coefficient of variation, range and variance.
- Learn how to apply the Pareto rule to distribution and understand the concepts of both frequency and normal distributions.
- Use indices, understand what they are and calculate them using base and current weights.
- Demonstrate how to prepare a scatter diagram and learn how to calculate the correlation, coefficient and regression equation between two variables.
- Learn how to create time series graphs, identify trends and calculate predicted values to assist with forecasting, as well as identify the limitations of it.
- Understand and apply both simple and compound interest. Calculate APR and the Net Present Value and Internal Rate of Return of a project, which can also help when explaining whether to accept or reject it.
- Explain and utilise the functions of spreadsheet software and apply it to the typical work of a chartered management accountant – a job title that you could go on to adopt!
Advantages of this course
- Gain a solid understanding of the fundamentals of business mathematics – plus practical skills that are transferable to many different roles and positions.
- Start your journey towards a career in accountancy - this course forms part of the CIMA Certificate in Business Accounting.
- Continue your learning with the CIMA Professional Chartered Management Accounting Qualification – the CIMA Certificate in Business Accounting is a pre-requisite for this professional course.
- The entire content isn’t available at one time; work your way through the resources and more will become available to you, helping with retention of information.
- Interactive simulations so that you can learn through doing – a reputable way of knowledge retention - rather than listening to a lecturer all of the time. Practice makes perfect!
- Test yourself with online assessments, using multiple choice and fill in the blank methods.
- Printable reference guides and exercises so that you can learn on the move!
- Full email and phone support, for free, if you get stuck with any of the technical bits.
What are you waiting for? Learn the fundamentals of business mathematics; sign up for this course and start your accountancy journey today!