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Learners may resit an external assessment to obtain a higher grade of near pass or above. \text{C. To record payment of an accrued expense.} Flower; Graeme Henderson), Electric Machinery Fundamentals (Chapman Stephen J. \text{Retained earnings} & \underline{2,209,400} & \underline{2,044,400}\\ Prepare a vertical analysis of Fantasy Football's 2018 and 2017 balance sheets. The detailed plan they produce must use more than one planning tool and remember this must include a budget, contingency plan and risk assessment, all completed individually. Indicative content reflects specific content-related points th at a learner might make. 15.00 Add to cart Share : Full description License Delivery & returns Business Assessment Resources Unit & Topic Assessments INCOME TYPES OF INCOME Capital income: loan mortgages shares owners capital debentures. 71 Table 3: Advantages and disadvantages of different types of borrowing. x]OZAIs &;MU^4 HLR?s8Pu+@G_ pnYc1yFk@bt0">v/{ +L\0[.i5T#Pcn} \m3ix#|4^V@qU"P4(@55S|Y=4v~#,"Si7|pxM5l-`Z \text{D. To record receipt of an accrued revenue.} Provides lit tle evidence of weighing up of competing for how to apply levels-based mark schemes*. SPECIMEN . The balance sheets for Fantasy Football for 2018 and 2017 are provided below. UNDERSTAND THE IMPORTANCE OF MANAGING PERSONAL FINANCE Planning expenditure, common principles to be considered in planning personal finances: to avoid getting into debt to control costs avoid legal action and/or repossession remain solvent maintain a good credit rating avoid bankruptcy to manage money to fund purchases generate income and savings set financial targets and goals provide insurance against loss or illness counter the effects of inflation. PESTLE is the situational analysis referred to in the unit content C1, so this is what learners should carry out on the two countries they have chosen for C.M3. When a person decides to save money, the first thing they should do is _________________. In order to fulfil the requirements of the assessment criteria, the contrasts could be manufacturing/service, importing/exporting, existing multinational/small business starting to trade internationally. to supported conclusions. 13. <> All the units can be sold for p=100xp=100-xp=100x . The same business can be used for cultural aspects and adapting processes and products for different markets for Learning Aim E. For LAs C&D learners need to select a business which could consider operating in two different countries. BTEC National Certificate in Business (180 GLH) Unit 3: Personal And Business Finance . \end{matrix} 3. assertions rather than supported by evidence. -salary: salary divided by pay periods We expect clear explanations of market theory, how the market will influence the chosen business when making pricing and output decisions. information. 1897 0 obj \text{\_\_\_\_\_\_1.} schemes. 100 marks available -Accrues interest \text{\_\_\_\_\_\_ 12.} Torecordanaccruedexpense.B. stream Drug-List - A list of all drugs required for the exam including they receptors, action. in response to the assessment focus/objective and will be modified according to how So learning the formulas is important. Consider the example in class. Levels-based descriptors articulate the skills that a learner is likely to demonstrate in Margin of safety = 60 - 40. 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. on the net book value at the end of the previous year, It is harder to work out what percentage to use to For this unit it is expected that learners will work in small groups. Learners will also consider the factors that influence the implementation of these strategies. Show these changes in your Logical reasoning evidenced throughout response which is clear and interrelationships between factors leading to a supported 4662 0 obj . 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. Learning Aims; A Understand the costs involved in business and how businesses make a profit B Understand how businesses plan for success Setting grade boundaries When we set grade boundaries, we look at the performance of every learner who took . Learners need to bring out the contrast in the ways they operate internationally. BTEC BUSINESS Unit 3: Personal and Business Finance. % You may prefer to write your own assignment briefs. endstream SCORES AND GRADE POINTS TARGET ! 12. }\\ <>/Metadata 99 0 R/Pages 1893 0 R/StructTreeRoot 173 0 R/Type/Catalog>> \quad & \text{Interest Receivable } \ldots\ldots\ldots & \quad & \text{2,000}\\ Giving back is not always possible, but you can always pay forward, A corporation that invests money for individuals in portfolios managed by the corporation, Chapter 4: Schizophrenia Spectrum Disorders a, Earth Science Chapter 14 Section 1(Weathering, Totalliabilitiesandstockholdersequity. If you buy the item instantly you would be happy for having it, but it is costly to pay for it in the future. Explain why instant gratification is often temporarily joyful but costly in the future. \text{\_\_\_\_\_\_7.} vL1d'uIp}|8@ _$I x5`I/+\ .^%If k&I(V Jm9K$l Unit results for BTEC National qualifications are reported on a 5 point grade scale: Distinction (D), Merit (M), Pass (P), Near Pass (N) and Unclassified (U). 35 : 22 . }\\ \text{Long-term assets:} & \text{ } & \text{ }\\ & \text{Rent Expense} \ldots\ldots\ldots & \text{2,000}\\ What is the difference between fixed/constant income and variable income? <>/Filter/FlateDecode/ID[<587A7234B4B3B2110A00A0BE87FCFE7F>]/Index[4662 29]/Info 4661 0 R/Length 94/Prev 308944/Root 4663 0 R/Size 4691/Type/XRef/W[1 3 1]>>stream Allow you to retire earlier There are four externally assessed units and they are either of 90 or 120 GLH. 12 : 0 . information. 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. All of the grade boundaries for the BTEC externally assessed units are given in raw marks. A more mundane business, like Aldi, offers more potential. 12523 Comments Please sign inor registerto post comments. endobj Pearson BTEC Level 3 Nationals in Business Unit 3 19. 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. 129 terms. Learners should use the same businesses for LAs A and B and choose one of them for AB.D1. Generic organisation charts and generic coverage of what different departments do is not appropriate. 1. Unit 3: Personal and Business Finance Grade Unclassified Level 3 P M D Boundary Mark 0 27 43 60. BaakliniC10019. MAXIMUM MARK 60. /t geo o#?ui4uoJ>Nkm`rz7qc5lVu3&S[C`=RF>_0|\6/5 {CM5W@I9}{? 1|1gQ6r/E={Lv|/{l]|D"ql:Ort0t00ht0xt0H40Jt00v0vt0Dt40pt4)8XZ( f$A!AHs 1? 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. 1833 0 obj <>/Filter/FlateDecode/ID[<0BC5FEDC42DE804896A605C58003AB09>]/Index[1820 28]/Info 1819 0 R/Length 83/Prev 341460/Root 1821 0 R/Size 1848/Type/XRef/W[1 3 1]>>stream Lecture notes, lectures 1-19 - materials slides, Strategic Operations Management PS4S26-V2 - Assessment 1, 3. 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. Different types of banks/ financial institutions? Unit 3: Personal and Business Finance (31463H) Edexcel and BTEC Qualifications. The mark awarded within the band will be decided based on the quality of the answer GRADE . relevant information; there may be major gaps or omissions. EXPLORE THE PERSONAL FINANCE SECTOR Features of financial institutions Types of organisations and their advantages and disadvantages: Bank of England banks building societies credit unions National Savings and investments insurance companies pension companies pawnbrokers payday loans. Torecordreceiptofunearnedrevenue.E. Levels-based mark schemes (LBMS) have been designed to assess learner work \quad & \text{Cash} \ldots\ldots\ldots & \quad & \text{1,400}\\ Gross Profit. 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 Unit 3 - Personal FInance. Ratio's. 30 terms. https://www.cleevepark-tkat.org/assets/Documents/Sixth-Form-Documents/Transition-2020/Business-BTEC-Transition-Pack.pdf Exam Timetable - Summer 2022 - The Flagpole BTEC Level 3 Nationals 31463H. The business finance aspects of the unit introduces learners to accounting terminology, the purpose and importance of business accounts and the different sources of finance available to businesses. \underline{\text{Liabilities and Stockholders' Equity}} & \text{ } & \text{ }\\ Every business is potentially ripe for investigation, not just the iconic Apple which learners often use to extol the products rather than really get to the bottom of how its success can be linked to innovation and enterprise. Importantly, it also means the learners can listen/see their performance which will help them review their performance for Learning Aim C. If this isnt possible, then a fully detailed and individual Record of Activity should support the achievement of criteria and peers can complete a Witness Statement. expensive product, Profit margin = profit / sales revenue x 100, (65 000 13 000) / (65 000 + 195 000) x 100, Gross profit margin = gross profit / sales revenue x 100, More depreciation in the early life of the asset and less in the -Used frequently perception of where the grade boundaries may lie. At no more . 31463 MARK Scheme JAN 2021 - Pearson BTEC Level 3 Nationals in Business - Unit 3 - 19 Unit 3: - Studocu nice work thank you unit personal and business finance mark scheme general marking guidance all learners must receive the same treatment. They consist of two parts: indicati ve content and levels-based descriptors. Examiners' reports are the communication channel between senior examiners and teachers and contain an explanation of how the senior examiners have interpreted the mark schemes as well as examples of both good and poor candidate responses. To record receipt of unearned revenue.} Business. Eswatini (/ s w t i n i / ESS-wah-TEE-nee; Swazi: eSwatini [swtini]), officially the Kingdom of Eswatini and formerly named Swaziland (/ s w z i l n d / SWAH-zee-land; officially renamed in 2018), is a landlocked country in Southern Africa.It is bordered by Mozambique to its northeast and South Africa to its north, west, south, and southeast. G.Torecordthisperiodsuseofaprepaidexpense. securely all bullet points are displayed at th at band. The reason for this is because in the unit specification, A3 covers support for business operating internationally and this has to be analysed for A.M1. so lower amounts being paid will improve cash flow (1), Repayments / interest payments are fixed (1) which vary, At the end of the lease Mike will have to return the asset, Does not own the machine so does not improve the value of the business, Will face additional costs of 1500 if the business tries to end the lease 2 0 obj vocabulary 4. Realistic The points scores available for each external unit at grade boundaries are as follows: Unit Size 90 GLH 120 GLH Unclassified 0 0 Near Pass 6 8 Pass 9 . UNIT 3: PERSONAL AND BUSINESS FINANCE THE EXAM. & \text{Salaries Payable} \ldots\ldots\ldots & \text{1,400}\\ Part B is a three-hour supervised assessment taken on the timetabled date set by Pearson. These two videos provide a useful introduction to BTEC external assessment and how best to prepare learners for them. Meaning may be conveyed but in a non-specialist way; response lacks Displays a well-developed and balanced discussion, number A. 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. unit 3: personal and business finance grade boundaries. Sm,I N-&K$} n{zS$IP D%IS xa$I_|e #QIW&. Learners dont have to design the Application Form, and this can be downloaded from a website. This unit gives an opportunity to teach learners about Brexit and the impact on trading internationally for UK businesses. You can download the question papers, mark schemes and examiners' reports for each past exam series and taken together, these will give you the best insight into what is required in each unit. TorecordthisperiodsearningofpriorunearnedrevenueF. For LA D, the requirement is about cultural factors which generally will affect international businesses and learners don't have to apply this to a named business, but they can of course give examples. Fixed/constant- same pay each pay period (salary). Gives a more realistic valuation of the vehicles as they lose 4 Introduction Education Limited 2015, Level Mark Award up to 6 marks. Evaluation is presented leading to conclusions but some may be 4 Award one mark for identification of an advantage to the consumer of using a understanding of relevant inf ormation; any gaps or omissions are In this unit you willl sit a 2 hour written exam in this unit. Grade boundaries Jan 2023; AQA Politics Paper 1 25 May 2022 Exam chat; OCR Classical Civilisation A2 World of the Hero Paper 2022; hbbd```b```rd"YR@d:iyH2e]rKbL@"@}4$3 ` J ! Personal finance involves the understanding of why money is important and how managing money can help prevent future financial difficulties. They must show they understand why the business adheres to ethics and legislation, not just that there are laws to protect people. Mark scheme (award up to 8 marks) refer to the guidance on the cover of this document Contains: Revision checklist. (. life of the asset. rel ation to the assessment outcomes being targeted by the question. Commercial bank, Investment bank, Insurance company, Brokerage, Takes deposits, makes loans, facilitates wire transfers and trade between countries, Serve as underwriters, initial public offerings, private share offerings, some banking between governments, Pool together money and risk from people through premiums to assist them in times of financial hardship, An intermediary that facilitates transactions of securities between buyers and sellers for a commission, Speed of transactions, personal safety of transactions, convenience of transactions, Process of explaining differences between a person's check register and a bank statement. \text{Supplies} & \text{$124,000$} & \text{$87,400$}\\ Issue 3 April 2017 Pearson Education Limited 2015, Question Edexcel and BTEC qualifications come from Pearson, the world's leading learning company. <>/XObject<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 594.96 842.04] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> }\\ hb```df B,`q( 1uBHu{9.#[(` \text{Stockholders' equity:} & \text{ } & \text{ }\\ Position increasing the value of the business, Works out 10 800* cheaper (ignoring repair costs) over the life, Interest rates could fall which would reduce the cost, Significant deposit might be required that the business may not have, Could lose the property if it defaults on the loan repayments, Additional installation and delivery cost, which will need to be funded alternative response. The contrast is in the features: ownership and liability, or size, or sector or purpose. All of the forms required for assessment and verification can be downloaded from the web site. Please make sure the event allows the learners to demonstrate the skills and activities required in the assessment criteria and that individual evidence is produced. June 10, 2022 . Learners are permitted access to any relevant software to enable them to complete the Part S task. . 1896 0 obj Flower; Graeme Henderson), Tort Law Directions (Vera Bermingham; Carol Brennan), Principles of Anatomy and Physiology (Gerard J. Tortora; Bryan H. Derrickson), Criminal Law (Robert Wilson; Peter Wolstenholme Young), unit 3 personal and business finanace past papers exams questions, Fundamentals OF Financial Accounting - BA3 EXAM Revision KIT, Fundamentals OF Managemnet Accounting - BA2 EXAM Revision KIT, Unit 5 Final Sumission - Cell biology, illustrated report, Unit 10 Illustrated Report Human Reproduction, Growth and Development, Unit 7 Human Nutrition and DIgestive System, PHARMACY AND MEDICINES MANAGEMENT (PHMM53), Managerial Accounting for Decision Making (MSIN7016), Constitutional and Administrative Law (LW1120), Mathematics for Computer Scientists 1 (CS130), Public Int & Humanitarian Law (LAW-40460), Introduction to Literature: Ways of Reading (CC4301), Foundations of Occupational Therapy (160OT), Introduction to English Language (EN1023). \quad & \text{Interest Payable} \ldots\ldots\ldots & \quad & \text{1,000}\\ Xaxie2000. They should produce a survey for delegates to analyse. -Have various fees, -Investment \text{Common stock} & \text{$786,600$} & \text{$786,600$}\\ Sales Revenue - Cost of Goods Sold. 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. It means that the performance and asking/answering of analytical questions can be authenticated by the internal verifier and standards verifier. Mark schemes should be appli ed positively. Marks will be awarded towards the top or bottom of that band depending on how 0 stickman swing cool math; ufc gym plantation; how to send certified mail with return receipt; bronwydd house porth history An assignment is issued to learners as an assignment brief with a defined start date, a completion date and clear requirements for the evidence that they need to provide. Learners should always show their individual knowledge with their own detailed speaker notes - if they choose to do a group presentation. which marks will be awarded and exempli fi cation may be limited. & \text{Cash} \ldots\ldots\ldots & \text{9,000}\\ Provides little evidence of application and links between relevant ju dgement/judgements being made. 12 ; Merit 15 20 . \text{Current liabilities:} & \text{ } & \text{ }\\ 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. The event itself must be sufficiently complex. Learners need to understand the financial decisions they will need to take throughout life. Evidence of application demonstrating linkages and Torecordreceiptofanaccruedrevenue.H. Part B is a three-hour supervised assessment taken on the timetabled date set by Pearson. \text{Inventory} & \text{$1,900,000$} & \text{$1,349,000$}\\
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