Chapter Name: Concepts of mathematical techniques and analysis
Description:Teaches ratios, break-even analysis, and time value of money.
Purpuse:To enable quantitative analysis for financial planning.
Rational:Supports accurate forecasting and risk mitigation.
Chapters Topics
Procedure for selecting methods for collecting, recording and organizing financial and economic data
Selecting appropriate methods for collecting and organizing financial data involves choosing tools (e.g., spreadsheets, accounting software), determining data sources, and ensuring that information is accurate, consistent, and relevant for decision-making.
Procedure for gathering financial and demographic data
Gathering financial and demographic data involves collecting accurate, up-to-date data on various factors affecting a business, such as customer demographics, market trends, and economic indicators. This data is critical for analysis and decision-making.
Procedure for recording financial and demographic data
Recording financial and demographic data involves organizing the collected data into structured formats, such as spreadsheets or databases, ensuring it is accurate and easily accessible for analysis.
Principles of economic relationships
Economic relationships refer to how different economic variables (e.g., supply, demand, price, and quantity) interact with one another. Understanding these relationships helps businesses make informed decisions based on how changes in one area affect others.
Calculation of financial and economic data
Calculating financial and economic data involves applying mathematical formulas and methods to data to derive meaningful results. This can include calculating ratios, averages, growth rates, or other relevant metrics that aid in business decision-making.
Fundamentals of graphical representations and numerical summaries
Graphical representations, such as charts and graphs, visually display data, making it easier to analyze trends and patterns. Numerical summaries, like averages, medians, and standard deviations, provide concise insights into data sets.
Concepts of projections based on mathematical analysis
Projections involve using mathematical models and historical data to forecast future trends, such as sales growth, market share, or financial performance. Projections help businesses anticipate future outcomes and plan accordingly.