Exam Tips for upcoming B&M exams (Tip #4)
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With less than 4 weeks to go before many students leave school for the Easter holidays and prepare for their final IB exams, each week I will be posting a ‘top tip’ for the B&M exams.
Here’s the fourth in the series…
Tip #4 – Learn the quantitative methods
The IB B&M syllabus incorporates many quantitative techniques such as:
• Decision trees (1.6)
• Investment appraisal (3.2)
• Budgeting (3.4)
• Cash flow forecasting (3.3)
• Balance Sheets (3.5)
• Depreciation (3.5)
• Profit and Loss accounts (3.5)
• Cost allocation (4.4)
• Costs and revenue (5.2)
• Break-even analysis (5.3)
• Ratio analysis (3.6)
• Make-or-buy decisions (5.7)
• Elasticity of demand (4.4)
• Critical path analysis (5.8)
Items in italics are HL only.
It is important to learn these quantitative techniques and to be able to use them to aid business decision-making. Whilst students are given a formulae booklet in the IB B&M exams, you are not provided with formulae for all quantitative concepts such as: Average Cost, Break-even, Capacity utilization, Net cash flow, and Cost of goods sold.
Again, make sure you learn the definitions and the formulae for these concepts.
© Paul Hoang and IBID Press
Click here for details of the upcoming IB Student Revision Workshop in Hong Kong
Click here for Exam Tip #3
Click here for Exam Tip #2
Click here for Exam Tip #1
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