Understand the order of operations
in formulae. Practise two-variable simultaneous equations and
quadratic equations. Calculate percentages and proportions. Draw
graphs of linear and quadratic equations.
- Summarising and Analysing Data
Understand the difference between
data and information. Examine the concept of frequency
distribution. Learn how to tabulate data. Consider Pareto analysis.
Revise how to calculate the following for both ungrouped and
grouped data: arithmetic mean, median, mode, range, variance,
standard deviation and coefficient of variation. Consider the
function of indices, and learn how to calculate indices.
Discover how to calculate future
values of an investment. Examine geometric progressions. Learn how
to calculate the present value of a future cash sum, as well as the
present value of an annuity and perpetuity, using formula and CIMA
tables. Study loans and mortgages. Practise calculating the net
present value (NPV) and internal rate of return (IRR) of a
- Inter-relationships between Variables
Learn how to prepare scatter
diagrams and how to calculate the correlation coefficient and the
coefficient of determination between two variables. Discover how to
calculate the regression equation between two variables, as well as
how to apply the regression equation to predict the dependent
variables, given a value of the independent variable.
Learn how to prepare a time series
graph, as well as how to identify patterns and trends using an
appropriate moving average, and how to identify the components of a
time series model. Discover how to calculate seasonal factors for
both additive and multiplicative models. Gain the skills to
calculate predicted values given a time series model. Understand
the limitations of forecasting models.
Learn how to conduct probability
calculations. Understand the use of expected value tables in
decision-making, and consider the limitations of expected values.
Explore the concepts of risk and uncertainty. Discover how to
prepare graphs and diagrams of normal distribution.
Examine the features and functions
of spreadsheet software, and consider both their uses and
limitations in business. Discover how to apply spreadsheet software
to the normal work of a Chartered Management Accountant.