BMS 100: Management Mathematics I Notes

Topic 1: Introduction to Accounting Definition of terms used in accounting Users of accounting information Information needs Qualities of good accounting information Nature of accounting equation Effects of business transactions on balance sheet Topic 2: Accounting Concepts, Conventions and Bases Definition of accounting Concepts, Conventions and Bases Types of accounting Concepts, Conventions and Bases Topic 3: Source Documents Meaning of source documents Types of source documents Uses of source documents Relationship between Source documents and Books of Accounts Topic 4: Books of Original Entry Definition of books of original entry Classification of Books of Original Entries Preparation of Books of Original Entries Posting transactions from the books of original entry to the ledger Topic 5: The Ledger and the Trial Balance Definition of a Ledger and an Account Importance of a Ledger Relationship between a ledger and an account Classifications of ledgers Nature of double-entry system Definition of a Trial Balance Balancing off of accounts Extracting of a trial balance Importance of a trial balance Topic 6: Types of Errors and their Correction Types of errors that do not affect the agreement of a trial balance Types of errors that affect the agreement of a trial balance Functions of suspense account Correction of errors using a Suspense Account Topic 7: Single entry and Incomplete Records Explanation of terms Ascertainment of profits Conversion of single entry to double entry Topic 8: Final Accounts for Sole-Proprietorship Definitions of final accounts Types of final accounts Preparation of final accounts Topic 9: Adjustments to Final Accounts Meaning of final accounts Purpose of final accounts adjustments Procedure of making adjustments in final accounts Topic 10: The Cashbook Definition of Cash book Types Cash book Types of discount Recording transactions in a cash book Topic 11: Petty Cashbook Definition of petty cashbook Imprest System Purpose of Petty Cash Preparation of Petty Cash Topic 12: Bank Reconciliation Statements Definition of bank reconciliation statements Purposes of preparing bank reconciliation statements Causes of the differences between bank statements and the cashbook balance Steps/procedure in preparing bank reconciliation statement Topic 13: Capital and Revenue Expenditure Definition of Capital and Revenue Expenditure Double-entry system for revenue and capital expenditure Classification of Expenditure Topic 14: Control Accounts Definition of control accounts Uses of control accounts Preparation of Control Account Topic 15: Accounting for Fixed Assets Definition of depreciation Causes of depreciation Reasons for providing for depreciation Methods for providing for depreciation Double-entry for depreciation Accounting for disposal of fixed assets The fixed asset movement schedule Topic 16: Non-Profit Making Organizations Definition of Non-profit making organization Differences between Receipts and Payment accounts Relationship between Income and Expenditure accounts Preparation of final accounts of Non-profit making organization Topic 17: Emerging Issues and Trends in Financial Accounting Emerging issues and trends in financial Accounting Challenges posed by emerging issues and trends in financial Accounting Coping with the challenges posed by emerging issues and trends issues in financial Accounting

Lesson One: Set Theory 

1.1          Introduction

1.2         Set Definition and Notation

1.3         Types of Sets

1.4         Venn Diagram Representation

1.5         Set Relations

1.6         Set Operations

1.6.1   Subset

1.6.2   Intersection of Sets

1.6.3     Union of Sets

1.6.4   Complement of Sets

1.6.5   Set Operation Rules

1.7         Number of Elements in a Set

1.7.1   Number of Elements Union of two Set.

Lesson Two: Equations and Inequalities 

2.1         Introduction

2.2        Simple Linear Equations

2.3        Deriving Linear Equations

2.4        Solving Linear Equations

2.5        Types of Lines

2.6        Graphing Linear Equation

2.7        System of Linear Equations

2.8        Types of Simultaneous Equations

2.9        Solving of Simultaneous Equations

2.10    Application of Simultaneous Equations

2.11    Quadratic Equations

2.12    Solving Quadratic Equations

2.13    Graphing Quadratic Functions

2.15    Systems of Inequalities

2.16    Graphs of Inequalities

Lesson Three: Functions, Limits and Continuity

3.1         Introduction

3.2        Constants, variables and Coefficients

3.4        Functions and Types

3.5        Functional Notation

3.6        Algebraic Operations on Functions

3.7        Limits of Function

3.8        Properties of Limits

3.9        Continuity in Functions

Lesson Four: Differential Calculus

4.1         Objectives

4.2        Introduction

4.3        Average Rate of Change (ARC)

4.4        Instantaneous Rate of Change (IRC)

4.5        Definition and Notation of Derivatives

4.6        Differentiation Techniques

4.7        Application of Differential Calculus

4.8          Determination of Marginal Values.

4.9        Partial Derivatives

4.10    Partial Derivative Optimisation5

4.11    Constrained Optimisation Using Lagrange Multiplier

Lesson Five: Integral of Functions

5.1         Objectives

5.3        Indefinite Integral

5.4        Integration Rules

5.5        Definite Integration

5.6        Properties of Definite Integral

Lesson Six: Mathematics of Finance 

6.1         Introduction

6.2        Simple Interest

6.4        Overview of Project Appraisal Techniques

6.4.1   Payback Period Method

6.4.2   Discounted Cash flow Methods

6.5        Annuities

6.6.       Amortisation Payments


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