unit 3: personal and business finance grade boundaries unit 3: personal and business finance grade boundaries

vL1d'uIp}|8@ _$I x5`I/+\ .^%If k&I(V Jm9K$l \text{\_\_\_\_\_\_2.} G)mrQ. <>stream Explain what fixed and variable taxes are and how they are different. Learners will investigate some of the issues that managers and leaders have to deal with in the workplace in making businesses more efficient and ensuring their survival and growth. BTEC Business Revision Unit 3 - Personal 36 terms. H@))@b"/EPl0\B8#" & \text{Unearned Professional Fees} \ldots\ldots\ldots & \text{3,000}\\ They consist of two parts: indicati ve content and levels-based descriptors. & \text{Interest Receivable} \ldots\ldots\ldots & \text{5,000}\\ %PDF-1.5 % 2. thomassaunders00. \quad & \text{Salaries Payable} \ldots\ldots\ldots & \quad & \text{6,000}\\ Indicative content reflects specific content-related points th at a learner might make. 4. What is the difference between fixed/constant income and variable income? Mark 3 Grade Boundaries - BTEC Level 3 Nationals - June 2018 Understanding external assessment grade . they have shown they can do, rather than be penalised for omissions. Learning Aims; A Understand the costs involved in business and how businesses make a profit B Understand how businesses plan for success Money you have earned (may or may not be physical). 11d Award two marks for the correct answer of 20 units, Award one mark for the formula in either words of figures, Margin of safety = expected output break-even quantity Organising an event on your own is tricky but a group of learners will be able to plan and run a sizable event which gives scope to achieve all the criteria. When setting a budget, you must manage your _________ and limit your ___________. Part A introduces learners to the context and consists of a research pack released on the afternoon before the Part B is taken. endobj information. SPECIMEN . arguments/pros and cons in context. more value in the earlier years. If Stefani can get a 0% card, Many providers offer additional incentive to encourage balance transfers, Put the money saved from 0% interest into a savings account and earn money on it, Consolidate any other debts into one payment, May get an increased limit by switching provider which could positively impact on her credit, May encourage excessive borrowing if credit limits are increased, Inability to find a 0% balance transfer offer could prove very expensive, Transfer limit usually applies so she can only transfer so much, Credit card provider might try and encourage the purchase of additional products, which she, Other purchases made on the card may be charged at the standard rate of interest, Increasing her credit card balance may affect Stefanis credit rating/score, which could affect, Given recent lockdown issues it might mean Stefani has been unable to go on holidays. Learners may resit an external assessment to obtain a higher grade of near pass or above. Marks will be awarded towards the top or bottom of that band depending on how Which is more important to budgeting: income or cash flows? This unit includes aspects of both personal and business finance. But it must be stressed that a good piece of work will apply to the specific business, rather than generic PESTLE, SWOT, 5Cs and Porters 5 Forces which is abundantly available on many websites. Pearson BTEC Level 3 Nationals in Business &ndash; Unit 3 &ndash; January 2020 &copy; Pearson Education Limited 2020 19 General marking guidance &bull; All learners must Two contrasting UK businesses operating in contrasting markets are required. Gives you security in case something happens 1847 0 obj <>stream \quad & \text{Prepaid Rent} \ldots\ldots\ldots & \quad & \text{2,000}\\ 12 ; Merit 15 20 . allows the business to plan finances / budget (1), Long-term source of finance (1) which allows the . Prepare a horizontal analysis of Fantasy Football's 2018 balance sheet using 2017 as the base year. Level Mark Descriptor (b) What kinds of assistance might a poor family be able to get from the government? \text{Current liabilities:} & \text{ } & \text{ }\\ so lower amounts being paid will improve cash flow (1), Repayments / interest payments are fixed (1) which Torecordreceiptofanaccruedrevenue.E. & \text{E. To record an accrued expense. Click the card to flip Definition 1 / 39 Budget Click the card to flip Flashcards Test Created by mtpfiffner Terms in this set (39) A financial plan to effectively and efficiently use a person's limited resources. They should produce a survey for delegates to analyse. Outlook - free personal email and calendar from Microsoft. The mark awarded within the band will be decided based on the quality of the answer Resources - Unit 3: Personal and Business Finance ( Exam) 2019 papers and mark schemes : January 20 paper and mark scheme : New format exam 80marks : PLCs Personal and Business finance : Unit 3 Powerpoint notes : Learning Aim E Workbook.docx : Learning Aim F.docx : Practice questions Business Finance.docx: demonstrating a thorough grasp of competing Pearson BTEC Level 3 Nationals in Business Unit 3 Final Sample Assessment Materials These two videos provide a useful introduction to BTEC external assessment and how best to prepare learners for them. Job Application Form Template word. later years of the assets life, which helps offset greater repair 13. <>stream \text{Cash} & \text{$\$ 208,000$} & \text{$\$ 262,200$}\\ Torecordreceiptofunearnedrevenue. . mark for development: The interest rate is fixed (1) so the company does not 4 Introduction endobj endstream endobj 1821 0 obj <>/Metadata 56 0 R/Pages 1818 0 R/StructTreeRoot 84 0 R/Type/Catalog/ViewerPreferences 1835 0 R>> endobj 1822 0 obj <>/MediaBox[0 0 594.96 842.04]/Parent 1818 0 R/Resources<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]/XObject<>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 1823 0 obj <>stream }\\ accounting concepts, Prevents understating the expense / overstating profits so A grade boundary is the minimum mark at which a grade can be achieved. Torecordthisperiodsuseofaprepaidexpense.D. \text{D. To record receipt of an accrued revenue.} 100 marks available This should be borne in mind when using past papers for mocks. Consider the example in class. A company produces xxx units of commodity A\mathrm{A}A and yyy units of commodity B\mathrm{B}B. & \text{G. To record this periods use of a prepaid expense. G.Torecordthisperiodsuseofaprepaidexpense. Preparation for the interview should be researching suitable questions, what to wear, travelling, demeanour etc and the role plays should be as realistic as possible. 11 : 0 . Business. \end{matrix} Learners must be re warded for what (c) What combination of personal action and good fortune could help a person rise out of poverty? endstream LEVEL 3 CAMBRIDGE TECHNICAL IN BUSINESS Unit 3: Business decisions. \quad & \text{Interest Receivable } \ldots\ldots\ldots & \quad & \text{2,000}\\ Xaxie2000. matches the learners response and place it within that band. hVmo6+>$@Im@ M(AMG-e~V,;Z+-'sB Tr'A@ number Part B is a three-hour supervised assessment taken on the timetabled date set by Pearson. & \text{Salaries Payable} \ldots\ldots\ldots & \text{1,400}\\ We dont want comprehensive coverage of one business with sparse coverage in the contrasting business. The internal and external environment is usually done well and learners can readily use situational analysis techniques. Personal and business finance exam unit 3 watch this thread 5 years ago Personal and business finance exam unit 3 Show original post Scroll to see replies 1 2 3 4 5 Next Reply 20 5 years ago A ejscan EllieRoissetter I have made notes on the material which if learned can be easy to apply to questions. Go to the question papers, mark schemes and examiners' reports. }\\ It would be better if the businesses were not in the same industry as this would give learners more scope to investigate the differences. hbbd```b``fA$dr,~ B. \quad & \text{Prepaid Insurance} \ldots\ldots\ldots & \quad & \text{4,200}\\ endobj 4690 0 obj For this mandatory unit, up to four different businesses are required two contrasting businesses for Learning Aims A and B, another business for Learning Aims C and D and a further business for Learning Aim E. Contrasting businesses are to be selected individually by learners. Evidence of application demonstrating some linkages and Prevents overstating the vehicles value so would comply with 6 Unit Price x Quantity Sold. UNIT 3: PERSONAL AND BUSINESS FINANCE THE EXAM. Summer 2023 Series: English Language A2 Unit 3 Examination: 17 Aug: AS/A Level Results Day : Get the latest subject updates depreciate over the assets lifetime, Will produce lower profit figures in the early years in the \text{Common stock} & \text{$786,600$} & \text{$786,600$}\\ Stakeholders of each business should be similarly given equal consideration and their influence should be relevant to each business. View grade boundaries from the most recent exam series Find all available grade boundaries Step 1. This also applies to organisation structure and aims and objectives. Posted at 18:52h in how to respond to i'll do anything for you by cotton collection made in peru. business of using a debenture as a source of income and one vegan tattoo ink pros and cons . To do this, learners will have to use UK businesses, and this is recommended as it allows them to investigate finance/support and barriers, trade agreements. BTEC National Business | Livestream | Unit 3 (Jan 2022) Personal Finance Live Revision tutor2u 200K subscribers Subscribe 375 Share 13K views Streamed 1 year ago #btecbusiness Join Jim. products may be more suited to their needs (1), Accessibility to a range of services for those without devices or the Major and Minor Codes. Points are awarded on a sliding scale between the grade boundaries based on the number of raw marks achieved by each learner. What is the formula for calculating simple interest? Torecordthisperiodsdepreciationexpense.\begin{matrix} One of the businesses used for Learning Aim A and B can be used or a different business altogether. This unit will be examined so you need to ensure that you are ready and prepared for you exam and good performance in this exam is critical to achieving your highest possible grade in your Business Studies course. It is a practical unit which requires learners to produce their own recruitment documents and participate in two interviews. Unit 1 - Finance, the Individual and Society (R/505/4681) Students will understand the role of the citizen in the UK, the values held by citizens, and the impact they have on personal finance. Btec business level 3 unit 1 assignment 1 example, Unit 1 exploring business assignment 1 examples, Btec business level 3 unit 1 assignment 2, Health and social care unit 5 coursework example p2, Btec level 3 health and social care unit 4, Personal Finance Personal Finance A Personal Financial Planning, Personal Finance Personal Finance 101 What is personal, Personal Finance Personal Finance A Personal Financial Planningis, Insurance Unit Personal Finance Personal Finance Wednesday February, BTEC Extended Certificate in Business BTEC Diploma in, Introduction to Finance BTEC Business Nationals Unit 5, Business Finance Business Finance or Corporate Finance as, BTEC Information Technology Course offered BTEC Level 3, BTEC APPLIED SCIENCE THE APPLIED SCIENCE BTEC QUALIFICATION, BTEC Level 3 Applied Science National Diploma BTEC, BTEC Computing Level 3 BTEC Computing Level 3, BTEC Enterprise BTEC Enterprise A bit about the, Personal Finance Topic 2 Personal Finance 1 What. Because pumping large amounts of water is harder than pumping small amounts, the cost of producing a bottle of water rises as he pumps more. 12. The paper will be marked out of 100 with 2 sections. Q6 - You now need to carry out research about the different universities/colleges you are interested in applying to by finding the answers to the areas you have outlined in your responses to questions 3 and 5 above. When examiners are in doubt re garding the appli cation of the mark scheme to a For example, if the grade boundary for a Distinction is 29, then 29 is the minimum mark atwhich a Distinction can be achieved. Tutor 2 u. net. Personal finance involves the understanding of why money is important and how managing money can help prevent future financial difficulties. BTEC National Certificate in Business (180 GLH) & \text{Prepaid Rent} \ldots\ldots\ldots & \text{4,500}\\ Different types of borrowing, features, advantages and disadvantages: overdraft personal loans hire purchase mortgages credit cards payday loans. Learners can use Part A for familiarization but are not permitted to make notes to take with them into Part B. UNIT 3 personal and business finance. Knowledge Organiser. 14 terms. Examiners should C.Torecordpaymentofanaccruedexpense. Control assisting with the prevention of fraud, trade receivables and trade payables. endobj To get to that point, they should consider two countries where a selected business could operate and think about the external factors which will influence them making this decision. After the event the success of the event should be reviewed, and the delegates feedback analysed and help them identify improvements. 1820 0 obj <> endobj Waiting to buy something that you want until you can truly afford it. 12523 Comments Please sign inor registerto post comments. Planning tools, such as cash flow forecasts and break-even, will be prepared and analysed and measuring the financial performance of a business will require learners to prepare and analyse statements of comprehensive income and statements of financial position. graph.". <>/MediaBox[0 0 595.44 841.68]/Parent 1893 0 R/Resources<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]/XObject<>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> ju dgement/judgements being made. 35 : 22 . 8. Revenue income: cash sales credit sales rent received commission received interest received discount received. hbbd```b``d"""``H,\6D IFQ[,,[V/"%Ml% K&F  _6 consist of basic description of information. <>/Metadata 99 0 R/Pages 1893 0 R/StructTreeRoot 173 0 R/Type/Catalog>> Evidences thorough application leading to a balanced analysis Many businesses publish such information online for potential recruits, but learners must not copy/paste chunks from a website as this doesnt show theyve understood the process. . com is an ad-free, private search engine that you control. Unit 3: Personal and Business Finance Revision Booklet 1 Learning Aim A: Understand the importance of managing personal finance, including: Functions and Role of Money (A1) Different ways to pay (A2) Current Accounts (A3) Managing Personal Finance (A4) Note: Unit 3: Personal and Business Finance covers both personal and business finance. Learners can use their time with Part A to annotate the research pack and to prepare up to two sides of A4 notes to take into the Part B supervised assessment. containing linkages and interrelationships between factors. A more mundane business, like Aldi, offers more potential. We advise that learners do not choose their own centre as one of the businesses, largely because they are difficult to understand in terms of ownership and liability and learners often make mistakes about this feature. this document for how to a pply levelsbased m ark specialist technical language consistently. unit 3: personal and business finance grade boundaries. 1898 0 obj Evidences thorough appli cation leading to balanced evalu ation \text{\_\_\_\_\_\_8.} need to worry about increased interest charges (1), Only interest is paid until the debenture is redeemed (1) It should be a job realistic for someone following a National in Business, so a managerial position may be aspirational, but it isnt suitable. They must show they understand why the business adheres to ethics and legislation, not just that there are laws to protect people. FANTASYFOOTBALLBalanceSheetsDecember3120182017AssetsCurrentassets:Cash$208,000$262,200Accountsreceivable856,000999,400Inventory1,900,0001,349,000Supplies124,00087,400Long-termassets:Equipment1,292,0001,292,000Less:Accumulateddepreciation(380,000)(190,000)Totalassets$4,000,000$3,800,000LiabilitiesandStockholdersEquityCurrentliabilities:Accountspayable$168,000$129,200Interestpayable03,800Incometaxpayable76,00076,000Long-termliabilities:Notespayable760,000760,000Stockholdersequity:Commonstock786,600786,600Retainedearnings2,209,4002,044,400Totalliabilitiesandstockholdersequity$4,000,000$3,800,000\text{FANTASY FOOTBALL}\\ \text{Balance Sheets}\\ \text{December 31}\\ \begin{matrix} Last year's sales in 4 departments of the Grand Solutions Computer Company ), A. stream & \text{Cash} \ldots\ldots\ldots & \text{9,000}\\ perception of where the grade boundaries may lie. Something like a school/college special event for other students to raise money for charity would be appropriate. they have evidenced each of the descriptor bullet points. Torecordthisperiodsuseofaprepaidexpense.H. A. CONSUMER PROTECTION IN RELATION TO PERSONAL FINANCE Function, role and responsibilities of: Financial Conduct Authority (FCA) Financial Ombudsmen Service (FOS) Financial Services Compensation Scheme (FSCS) legislation consumer credit. Margin of safety = 60 - 40. Torecordpaymentofanaccruedexpense.G. Depending on their roles and responsibilities, managers need to develop skill sets that enable them to work effectively in areas such as the management of people, financial, resource and quality management, and the management of change. perception of where the grade boundaries may li e. All marks on the mark scheme should be used appropri atel y. How does Ernies producer surplus change? Why People Use Them? Express each amount as a percentage of total assets for that year. The AAB asks for a presentation, but if this will be difficult to manage if you have a large number of learners in the class, you do not have to stick with this instruction. Lecture notes, lectures 1-19 - materials slides, Strategic Operations Management PS4S26-V2 - Assessment 1, 3. \text{\_\_\_\_\_\_6.} \text{Long-term liabilities:} & \text{ } & \text{ }\\ After each exam series, the Lead Examiner for each unit writes a report to provide feedback to teachers. on the net book value at the end of the previous year, It is harder to work out what percentage to use to In order to achieve this evaluation they should discuss the effects of the internal, external and competitive environments on the business and assess these effects for C.P4 and C.M3. For C.D2 learners need to make a judgement on how well the chosen business is affected by the environment in which it operates, and show they understand and can use a variety of situational analysis techniques. 14. 4662 0 obj Employers are required to give details of an employee's deductions and taxes taken from them in _____________. Learners need to bring out the contrast in the ways they operate internationally. INFORMATION GUIDANCE AND ADVICE Function, role and responsibilities, advantages and disadvantages of: Citizens Advice independent financial advisor (IFA) price comparison websites debt counsellors Individual Voluntary Arrangements (IVAs) bankruptcy. \underline{\text{Liabilities and Stockholders' Equity}} & \text{ } & \text{ }\\ \text{Long-term assets:} & \text{ } & \text{ }\\ 80 : 48 . & \text{Salaries Expense} \ldots\ldots\ldots & \text{6,000}\\ \quad & \text{Interest Revenue} \ldots\ldots\ldots & \quad & \text{5,000}\\ 31463H Unit 3: Personal and Business Finance 120 96 58 41 24 12 0 31489H Unit 2: Developing a Marketing Campaign 90 70 54 39 24 12 0 Computing GLH Max Mark D M P N U . \text{\_\_\_\_\_\_11.} Allow you to retire earlier Torecordthisperiodsdepreciationexpense., ______1.InterestExpense1,000InterestPayable1,000______2.DepreciationExpense4,000AccumulatedDepreciation4,000______3.UnearnedProfessionalFees3,000ProfessionalFeesEarned3,000______4.InsuranceExpense4,200PrepaidInsurance4,200______5.SalariesPayable1,400Cash1,400______6.PrepaidRent4,500Cash4,500______7.SalariesExpense6,000SalariesPayable6,000______8.InterestReceivable5,000InterestRevenue5,000______9.Cash9,000AccountsReceivable(fromconsulting)9,000______10.Cash7,500UnearnedProfessionalFees7,500______11.Cash2,000InterestReceivable2,000______12.RentExpense2,000PrepaidRent2,000\begin{matrix}