Outlook - free personal email and calendar from Microsoft. When using a levels-based mark scheme, the be st fit approach should be used. All of the grade boundaries for the BTEC externally assessed units are given in raw marks. (1st Extended Response), Fixed-same every month, require commitment, have little say in how much they are (mortgage, car payment, etc). Emma_Upson. Unit 3: Personal and Business FinanceThe exam. ~=~z5Xfq\E[\Q|n+8!u_>) 2 most common time frames for interest to be compounded? They should write about this and we expect a Record of Activity to support this, completed by the Assessor. supplier trying to get him to switch. 0 11. startxref Sm,I N-&K$} n{zS$IP D%IS xa$I_|e #QIW&. The unit consolidates understanding and skills to enable the interpretation of data, and formulation of decisions and solutions to given complex business problems. 31463H Unit 3: Personal and Business Finance 120 100 56 41 27 13 0 31489H Unit 2: Developing a Marketing Campaign 90 70 56 41 26 13 0 31588H Unit 6/12: Principles of endstream So learning the formulas is important. A grade boundary is the minimum mark at which a grade can be achieved. Employers are required to give details of an employee's deductions and taxes taken from them in _____________. 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. costs as the vehicles age. At no more . What should xxx and yyy be to maximize profit? unit 3: personal and business finance grade boundaries. Show these changes in your Provides lit tle evidence of weighing up of competing \text{\_\_\_\_\_\_4.} hmkAl)ag-$4!/z5SkI}i ;9uN(%Udm-+AhX(J(N+ZDO`ZlCq M\#E_ex)g0Lr^5rl0eIRYUuQuu)2FPhy{U]+}]Bga;+W$q.\m)GdKM/9Y`J~(UU\R%>>ofGn'[" #(tiQAxOk/XO1=RvfL^X ',X%z endobj Evaluation is presented leading to conclusions but some may be Evidence of application demonstrating linkages and & \text{Prepaid Rent} \ldots\ldots\ldots & \text{4,500}\\ Learners should note interview responses when in the interviewer role and make a decision on whether to recruit. Displays a well-developed, balanced and coherent evaluation, For example, if the grade boundary for a Distinction is 29, then 29 is the minimum mark atwhich a Distinction can be achieved. /t geo o#?ui4uoJ>Nkm`rz7qc5lVu3&S[C`=RF>_0|\6/5 In class example, twice as much because you are paying not only for the item you purchased but the right to borrow the money as well (interest). UNIT 3 personal and business finance. Levels-based descriptors articulate the skills that a learner is likely to demonstrate in they have evidenced each of the descriptor bullet points. Ashridge, Level Mark Award up to 12 marks. Education Limited 2015, Level Mark Award up to 6 marks. 39 : 25 . 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. 2. 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} allows the business to plan finances / budget (1), Long-term source of finance (1) which allows the Torecordpaymentofaprepaidexpense.I. The updated course will be fully complete by Feb half-term 2022. Who it's for & \text{Rent Expense} \ldots\ldots\ldots & \text{2,000}\\ Functions of Money - BTEC Unit 3: Personal and Business Finance Two Teachers 16.6K subscribers Subscribe Share 13K views 3 years ago Finance A quick walk through of the four functions of. 1847 0 obj <>stream endstream Learning Aims; A Understand the costs involved in business and how businesses make a profit B Understand how businesses plan for success & \text{Depreciation Expense} \ldots\ldots\ldots & \text{4,000}\\ 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. Wtt Yd3 V7NFyU4?' `A{I/mfXD %UR,+D}ABQy] 1,[L"K LkB Tutor 2 u. net. To achieve this Distinction criterion, market structure, including supply and demand and how these affect pricing and output decisions should be explored for D.P6 and assessed for D.M4. within the levels represent the progression of these skills. & \text{Salaries Expense} \ldots\ldots\ldots & \text{6,000}\\ It is not acceptable to download these from a company website. Learners need to understand the financial decisions they will need to take throughout life. So, this unit works best if learners choose contrasting businesses which originate in the UK. Summer 2023 Series: English Language A2 Unit 3 Examination: 17 Aug: AS/A Level Results Day : Get the latest subject updates Analysis likely to consist of basic description of information. 13. Setting grade boundaries When we set grade boundaries, we look at the performance of every learner who took . 35 : 22 . Demonstrates the use of logical reasoning, clarity, and appropriate Evidence of application demonstrating some linkages and 1895 0 obj Learners may resit an external assessment to obtain a higher grade of near pass or above. 128 understanding of relevant inf ormation; any gaps or omissions G)mrQ. Torecordthisperiodsearningofpriorunearnedrevenue. startxref \quad & \text{Prepaid Insurance} \ldots\ldots\ldots & \quad & \text{4,200}\\ \text{Retained earnings} & \underline{2,209,400} & \underline{2,044,400}\\ \quad & \text{Accumulated Depreciation} \ldots\ldots\ldots & \quad & \text{4,000}\\ }\\ 3 Grade Boundaries - BTEC Level 3 Nationals - June 2018 Understanding external assessment grade . \text{Accounts payable} & \text{$\$ 168,000$} & \text{$\$ 129,200$}\\ . \quad & \text{Interest Revenue} \ldots\ldots\ldots & \quad & \text{5,000}\\ vL1d'uIp}|8@ _$I x5`I/+\ .^%If k&I(V Jm9K$l 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. It should be a job realistic for someone following a National in Business, so a managerial position may be aspirational, but it isnt suitable. \quad & \text{I. Learners could use one of the businesses used for Learning Aims A&B, or choose a different business altogether. \text{Equipment} & \text{$1,292,000$} & \text{$1,292,000$}\\ \text{Current assets:} & \text{ } & \text{ }\\ h-eM{'0N:9 ,3,_ r4/v \`_B o+y7]b&Ym1i9{q. Unit 3 is an external examination worth 35% of your final qualification The exam is in May 2020 This is a essential part of the course success and marks in this unit will have a HUGE impact on your overall achievement in the course. Learners will consider business situations/scenarios where they are required to select and use appropriate evidence from several sources and support their arguments. In order to access the ACS, you will need to complete the form using the following options: You can then complete the rest of the online form providing all the information relevant to your case, attach the assignment brief once you have submitted the case. 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 These two videos provide a useful introduction to BTEC external assessment and how best to prepare learners for them. assertions rather than supported by evidence. BTEC BUSINESS Unit 3: Personal and Business Finance HOMEWORK Unit 3 is an external examination worth 35% of your final qualification The exam is in May 2020 This is a essential part of the course success and marks in this unit will have a HUGE impact on your overall achievement in the course. The specification states on the first page: Learners study how UK businesses develop strategies to trade globally. A. The cost (in dollars) of producing these units is given by the joint-cost function C(x,y)=x2+xy+y2C(x, y)=x^2+x y+y^2C(x,y)=x2+xy+y2. A valid assignment will enable a clear and formal assessment outcome based on the assessment criteria. unit 3: personal and business finance grade boundaries. endobj alternative response. We provide an Assignment Checking Service which offers you feedback on your assignment briefs. Different types of banks/ financial institutions? Please ensure that you have also read the ACS terms & conditions. <>>> 1. Select a qualification BTEC Nationals Change Step 2. The Unit 7 task booklet (called Part S) must only be made available to learners at the beginning of the supervised assessment period and centres must not discuss the details of the task contents with learners directly. %%EOF }\\ Torecordthisperiodsdepreciationexpense. What if she is made redundant / furloughed? CURRENT ACCOUNTS Different types, features, advantages and disadvantages, different services offered: standard packaged, premium basic student, 6. Aryan_Dawar. \text{Common stock} & \text{$786,600$} & \text{$786,600$}\\ Learners need to bring out the contrast in the ways they operate internationally. 4662 0 obj This success relies on understanding what money is. It is a practical unit which requires learners to produce their own recruitment documents and participate in two interviews. would comply with accounting concepts, Give greater tax benefit in early years which would help grow the Unit Price x Quantity Sold. 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. If you buy the item instantly you would be happy for having it, but it is costly to pay for it in the future. Personal finance involves the understanding of why money is important and how managing money can help prevent future financial difficulties. \text{A. Comparing multiple options, unit sizes/prices, looking for deals, buying in bulk, Gross-hourly: rate times wage \text{Cash} & \text{$\$ 208,000$} & \text{$\$ 262,200$}\\ Business enterprise Level 3 63% (8) 14. endstream endobj startxref % Or you could ask the learners to write a report. Our Assessment plan for 2017-18 for the Level 1 / 2 BTEC first Award in Business Learners have 4 hours a week Units chosen are: Unit 1 - Enterprise in the Business World Unit 2 - Finance for Business -External Exam unit Unit 7 - Providing Business Support Unit 8 - Recruitment, Selection and Employment First year delivering Level 2 after a break of 2 years - might deliver unit 1 and 7 together . We expect clear explanations of market theory, how the market will influence the chosen business when making pricing and output decisions. \text{D. To record receipt of an accrued revenue.} 14. 2 0 obj COMMUNICATING WITH CUSTOMERS Methods of interacting with customers, advantages and disadvantages: branch online banking telephone banking mobile banking postal banking. in response to the assessment focus/objective and will be modified according to how In this pack you will find PowerPoints (with tasks including practice exam questions), templates and handouts. 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. The materials already provided here will remain, along with lots of new revision resources. Prevents overstating the vehicles value so would comply with A raw mark is the actual mark awarded by our examiners for an assessment. Mark We want to see a valid analysis of key factors, including awareness of the importance of contingency planning for C.M3. MARK SCHEME Duration: 1 hour and 30 minutes . UNDERSTAND THE IMPORTANCE OF MANAGING PERSONAL FINANCE Functions and role of money The ability to handle money received, and to control money paid, is a fundamental requirement for personal and business success. D.Torecordreceiptofanaccruedrevenue. The controlled conditions for this unit allow learners to: Learners must not have access to the Internet, email, or any other resources aside from their permitted notes. Evidences thorough application leading to a balanced analysis (b) What kinds of assistance might a poor family be able to get from the government? 7. cle ar and uses specialist te chnical language consistently. Evidence of application demonstrating some linkages and 12 000 1 200 = 10 800 (deduction of delivery cost), Copyright 2023 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01, Introductory Econometrics for Finance (Chris Brooks), Public law (Mark Elliot and Robert Thomas), Human Rights Law Directions (Howard Davis), Marketing Metrics (Phillip E. Pfeifer; David J. Reibstein; Paul W. Farris; Neil T. Bendle), Rang & Dale's Pharmacology (Humphrey P. Rang; James M. Ritter; Rod J. This should be borne in mind when using past papers for mocks. \text{Less: Accumulated depreciation} & \underline{(380,000)} & \underline{(190,000)}\\ GRADE BOUNDARIES (JULY 2019) UNIT 3 Personal and Business Finance DISTINCTIO N MERIT PASS 73 55 39 THEREFORE YOU ARE LOOKING AT GETTING 75 (meaning you can lose 25 marks ONLY! early, Cost is 10 800* more than the loan over the five-year period (excluding 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. \text{\_\_\_\_\_\_7.} Explain what fixed and variable taxes are and how they are different. {CM5W@I9}{? 1|1gQ6r/E={Lv|/{l]|D"ql:Ort0t00ht0xt0H40Jt00v0vt0Dt40pt4)8XZ( f$A!AHs 1? BTEC Business Level 3 Introduction - JCB Academy Units - Diploma Unit 1 - Exploring Business Unit 2 - Developing a Marketing Campaign Unit 3 - Personal & Business Finance Unit 4 - Managing an Event 7. rel ation to the assessment outcomes being targeted by the question. Which is more important to budgeting: income or cash flows? BaakliniC10019. 5. graph.". BTEC National Business Unit 3 Resources These fantastic resources are designed to help students maximise their performance in Unit 3 (Personal and Business Finance). <>stream In Unit 7 learners draw together learning from previous units in the qualification. The important thing is individual learners have the opportunity to do justice to the unit requirements and produce their own evidence. 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. Learning Aims C&D look at the external environment and the market in which a business operates. 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. \text{Long-term liabilities:} & \text{ } & \text{ }\\ They will use market research data and other information to make recommendations about the type of marketing campaign that a business should undertake. FANTASYFOOTBALLBalanceSheetsDecember31AssetsCurrentassets:CashAccountsreceivableInventorySuppliesLong-termassets:EquipmentLess:AccumulateddepreciationTotalassetsLiabilitiesandStockholdersEquityCurrentliabilities:AccountspayableInterestpayableIncometaxpayableLong-termliabilities:NotespayableStockholdersequity:CommonstockRetainedearningsTotalliabilitiesandstockholdersequity2018$208,000856,0001,900,000124,0001,292,000(380,000)$4,000,000$168,000076,000760,000786,6002,209,400$4,000,0002017$262,200999,4001,349,00087,4001,292,000(190,000)$3,800,000$129,2003,80076,000760,000786,6002,044,400$3,800,000, For each of the following journal entries 1 through 12, enter the letter of the explanation that most closely describes it in the space beside each entry. Evaluate external sources of finance which Wattam Grove could use to fund Option 2 - Camping and caravan site. understanding of relevant inf ormation; any gaps or omissions are <>/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>> ), Commercial Law (Eric Baskind; Greg Osborne; Lee Roach), 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), A-level Chemistry Mark scheme Paper 2 June 2017, Boook for chemistry incase u need more papers, Rebecca - a in depth intro to gang science uhs dndun, Introduction to Strategic Management (UGB202), Unit 8: The Roles and Responsibilities of the Registered Nurse (PH13MR001), Introduction to Nursing and Healthcare (NURS122), BTEC business level 3 Exploring business (Unit 1 A1), Mathematics for engineering management (HG4MEM), Introduction toLegal Theory andJurisprudence, Introduction to English Language (EN1023), Networkingsem 32 - This assignment talks about networking and equipment used when designing a network, Week 14 - Nephrology - all lecture notes from week 14 (renal) under ILOs, Discharge, Frustration and Breach of Contract, 314255810 02 Importance of Deen in Human Life, Social Area - Psychology Revision for Component 2 OCR, Special Educational Needs and Disability Assignment 1, Unit 8 The Roles and Responsibilities of the Registered Nurse, IEM 1 - Inborn errors of metabolism prt 1, Ng php ting anh - Mai Lan Hng -H Thanh Uyn (Bn word full) (c T Phc hi), Main Factors That Influence the Socialization Process of a Child, 354658960 Kahulugan at Kalikasan Ng Akademikong Pagsulat, Database report oracle for supermarket system, My-first-visit-to-singapore-correct- the-mistakes Diako-compressed, Acoples-storz - info de acoples storz usados en la industria agropecuaria. Torecordpaymentofanaccruedexpense.D. Secret Trusts - Perfect Essay What Is It? 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. The learners could produce powerpoint slides for their evidence, but slides are limiting so it's important they have notes view. Lecture notes, lectures 1-19 - materials slides, Strategic Operations Management PS4S26-V2 - Assessment 1, 3. arguments/pros and cons in context. Margin of Safety. IxP'Prd,E00 sgT31:/RcJ{Eg6i{ \quad & \text{Cash} \ldots\ldots\ldots & \quad & \text{4,500}\\ 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. Examiners should also be prepared to award zero marks if the learners response is 70 : 54 . information. Realistic not worthy of credit according to the mark scheme. 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. The contrast is in the features: ownership and liability, or size, or sector or purpose. . products may be more suited to their needs (1), Accessibility to a range of services for those without devices or the <>stream Learners should always show their individual knowledge with their own detailed speaker notes - if they choose to do a group presentation. Prepare a horizontal analysis of Fantasy Football's 2018 balance sheet using 2017 as the base year. 100 marks available You will get a calculator EVERY mark counts!! Th 2016 OSCA materials include an example of learner work for Learning Aims B-E. As well as investigating ideas for an event, learners should consider actual big events theyve had experience of; they must consider the factors which these events have in common to make them successful to meet B.P3. \text{\_\_\_\_\_\_6.} 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 Mark Scheme (Results) January Enterprise and Entrepreneurship Unit 3 Personal and Business Finance (31463 H) BTEC Level 3 National in Business Mark Scheme (Results) January Enterprise and Entrepreneurship Unit 3 Personal an. mark for development: The interest rate is fixed (1) so the company does not (c) What combination of personal action and good fortune could help a person rise out of poverty? 12523 Comments Please sign inor registerto post comments. Attainable All these documents are required as a minimum. 6 Pearson BTEC Level 3 Nationals in Business Unit 3 19. Torecordpaymentofanaccruedexpense.G. It would be better if the businesses were not in the same industry as this would give learners more scope to investigate the differences. endstream On a circle graph , how many degrees should be used to show the sales of each department? \text{\_\_\_\_\_\_9.} This is a popular optional unit. 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. \quad & \text{Cash} \ldots\ldots\ldots & \quad & \text{1,400}\\ the notice period) if he wishes to, After two years can get more up-to-date machines if technology changes, Can budget for the cost of 1 000 per month as they know it should not stickman swing cool math; ufc gym plantation; how to send certified mail with return receipt; bronwydd house porth history 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. Please note that any attempt to do this it may actually restrict learners ability to respond to the specific context that will be presented in Part B. A company produces xxx units of commodity A\mathrm{A}A and yyy units of commodity B\mathrm{B}B. %PDF-1.5 They will be able to predict probable consequences, identify faulty arguments or misrepresentations of information or data, compare information and data, provide reasonable alternatives, and evaluate and justify proposed solutions. SPECIMEN . Learners must be re warded for what endobj 80 : 48 . Contribution Per Unit x Margin of Safety. 200 x (12 x 5) = 12 000 (difference in cost over 5 years) Part B is a three-hour supervised assessment taken on the timetabled date set by Pearson. Demonstrates the use of logical reasoning, clarity, and A small sole trader might not allow learners the opportunity to do justice to the requirements of the assessment criteria - for example, complex relationships with stakeholders, organisation structure and functional areas might be limited with a sole trader. \quad & \text{Professional Fees Earned} \ldots\ldots\ldots & \quad & \text{3,000}\\ 2. Businesses like Coca Cola, Apple, Nike are not good choices for this unit. @]2]!fki0;*|N rHs1/89wi4K@T'UXmXNNBy`Y@;D1m SA 1923 0 obj Measurable \text{\_\_\_\_\_\_ 12.} clarity and fails to provide an adequate answer to the question. %%EOF Of course, they should also use contrasting markets for A.P1, emerging, developing and developed as indicated in A1. 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. endobj The internal and external environment is usually done well and learners can readily use situational analysis techniques.
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