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Business Mathamatics and Statistics (BMS)

About This Course

Quantitative analysis plays an important role in the daily functions of the management accountant.
The building blocks for quantitative analysis come from Business Mathematics while Statistics provides the means of converting data into information.
They enable the management accountant to describe the numbers and trends pertaining to various disciplines ranging from Management Accounting and Financial Accounting to Taxation, Marketing and Strategy.
Thus, it is imperative that management accountants have a thorough understanding of the basic concepts, methods and techniques of Business Mathematics and Statistics.
This Foundation Level course unit aims to fill this knowledge and skill gap.
While statistical calculations are given its due importance the interpretive aspect is also emphasized as intricate computations are now simplified through computer software

Learning Outcomes

On successful completion of the course the students will be able to:

  • Demonstrate the ability to apply mathematical skills acquired in their work situations
  • Convert numerical data into managerial information
  • Compute and interpret population parameters using sample estimates
  • Forecast parameters based on past data
  • Your Instructors

    Dinesh Warnakula