Basic Business Calculations for BUS 170

Transcript:Basic Business Calculations for BUS 170:
Basic Business Calculations for BUS 170 Fundamentals of Finance Basic Bus Calcs #1: Percent Change updated 7/23/2020 About “Basic Bus Calcs” “Basic Business Calculations” are calculations every business person should know how to do. It’s best if you can memorize them, because in business you’ll need to use them all the time; like knowing how to tell time from a clock, or knowing how to make change from a dollar bill, it’s possible to look up instructions each time, but it would be awkward and perceived as unprofessional. Excel (or a Financial calculator) is required to solve these problems. A basic knowledge of Excel is a requirement for most business professionals, so take advantage of this course as an opportunity to practice your Excel skills.* Excel access will be available within the Lockdown Browser while you are taking quizzes and exams for this course. The professor for the COB’s Excel prerequisite courses has made his materials available to all students at these links: Basic Excel Course (BUS 91L) http://bus91l.altervista.org/Index2.htm Advanced Excel Course (BUS 91A) http://bus91l.altervista.org/Index3.htm The website http://www.tvmcalcs.com/ is very helpful for Basic Business Calcs #3 and 5. Other recommended resources are Khan Academy’s Percent Change, Exponents and Time Value of Money tutorials and Exceljet.net’s Excel Training Videos. * If you choose to use a calculator instead of Excel, you’ll need a Financial Calculator or a programmable calculator equipped with TVM programs; a Scientific or Statistical calculator won’t work. I recommend one of these two calculators: HP10bii (easiest to learn to use) HP 12c (recommended for students who intend to pursue a career in finance). Instruction will not be given in calculator use, you’re on your own if you choose not to use Excel. Networked (phone or other) calculators are not permitted during exams. updated 7/23/2020 Basic Bus Calcs #1: Percent Change Concept: by what percentage did a number grow, or shrink? Examples of ways to use… By what percent did your height change between ages 6 and 16? By what percent did a company’s 2020 sales decline from 2019? Think of some of your own “percent change” questions. Write down at least three questions that you’d like to know the answer to. Take your time. This will help make the exercise real to you… updated 7/23/2020 Basic Bus Calcs #1: Percent Change Calculation approach: First: what is the total difference between the starting and ending value? Then, what is