This course aims to develop knowledge and understanding of the quantitative and statistical methods to a level necessary for completing accounting and finance programme.The course includes five main parts including essential Maths, Describing data, Probability, Statistics and fundamentals of Decision-making in business, accounting and finance. Examples of quantitative methods in business, accounting and finance will be used.
- The course will include revision of basic mathematical operations, percentages and ratios, estimation and rounding, solution of equations and inequalities, and basic graphing.
- Students will be expected to use probability theory, including the calculation of expected values and deal with risk and uncertainty.
- When summarising and analysing data, students may be required to tabulate and graph results, or use other diagrammatic representation. Summarising and analysing data may also involve the calculation or use of statistics including measures of central tendency and dispersion, correlation and tests of statistical significance. Students will also be expected to explain data collection and sampling practices, and their advantages and disadvantages.
- Students will prepare for their finance studies by calculating simple and compound interest, and using compounding and discounting techniques in a variety of scenarios.
- For each of the above operations and techniques, students may be asked to present in an appropriate format, apply their knowledge and understanding to business, management and personal scenarios, and to make recommendations.