they have shown they can do, rather than be penalised for omissions. The materials already provided here will remain, along with lots of new revision resources. CURRENT ACCOUNTS Different types, features, advantages and disadvantages, different services offered: standard packaged, premium basic student, 6. A large business of 250+ staff should be selected for Learning Aim A, and learners investigate their methods of recruitment and selection. Evidences thorough appli cation leading to balanced evalu ation Learners must produce their own job description, person specification and advert. demonstrating a thorough grasp of competing arguments, leading Meaning may be conveyed but in a non-specialist way; response lacks . During the staging of the event, learners must show that they have played a part in managing aspects of the day. . Logical reasoning evidenced throughout response which is clear and A company produces xxx units of commodity A\mathrm{A}A and yyy units of commodity B\mathrm{B}B. Xaxie2000. Evidences thorough application leading to a balanced analysis costs as the vehicles age. View resources Resource collection Learners will consider business situations/scenarios where they are required to select and use appropriate evidence from several sources and support their arguments. 2. This is a popular optional unit. & \text{Cash} \ldots\ldots\ldots & \text{2,000}\\ BTEC Business Level 3 - Exam Questions & Answers - Unit 3 - Personal and Business Finance - RevisionOther Videos You Must Watch! 1923 0 obj \text{\_\_\_\_\_\_2.} 12 ; Merit 15 20 . Knowledge Organiser. schemes. stream ju dgement/judgements being made. Whilst Yasin is cancelling the insurance Shirevale could make a 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} GRADE . Select a qualification BTEC Nationals Change Step 2. Explain what giving back and paying forward are and explain the difference between the two. It is not necessary to have one for-profit and one not-for-profit business as required by the previous QCF qualification suite. Examiners must mark the first learner . understanding of relevant inf ormation; any gaps or omissions are 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. depreciate over the assets lifetime, Will produce lower profit figures in the early years in the Last year's sales in 4 departments of the Grand Solutions Computer Company Torecordanaccruedexpense.F. Learners notes can include notes about the provided research. endstream 50 terms. Which is more important to budgeting: income or cash flows? This page will try and help you understand the assessment of our Level 3 (RQF) BTEC Nationals in Business. 7. rel ation to the assessment outcomes being targeted by the question. As with any role play, it is strongly recommended to record the interviews (audio or visually) for a number of reasons. Make you wealthy, The number of times interest is calculated against principle, The amount of money you owe someone or that you have saved. Gg. So, this unit works best if learners choose contrasting businesses which originate in the UK. 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. stream 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. In this unit learners examine how businesses adapt their approaches to management in response to challenges in their environment. Conclusions may be p resented, but are li kely to be generic 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. Section B the part with all formulas is 2/3 of the marks for the WHOLE paper. \text{Stockholders' equity:} & \text{ } & \text{ }\\ 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 specialist technical language consistently. 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. Torecordreceiptofunearnedrevenue.E. cons in context. A. Torecordthisperiodsdepreciationexpense.\begin{matrix} A set of slides produced by a group of learners is not appropriate evidence here as it is not possible to perceive individual contribution and understanding. \text{\_\_\_\_\_\_4.} not made a claim, Current provider might not be giving him as good a deal as new A. 3. unit 3: personal and business finance grade boundaries. These two videos provide a useful introduction to BTEC external assessment and how best to prepare learners for them. This unit will also give learners an insight into where they can get financial advice and support. Meaning may be conveyed but in a non-specialist way; respon se \text{\_\_\_\_\_\_7.} 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 Learners are permitted to resit external assessments twice during their programme. Raw marks from the external units are converted into points based on performance in the assessment. 11. they have evidenced each of the descriptor bullet points. co. uk/index. \quad & \text{Salaries Payable} \ldots\ldots\ldots & \quad & \text{6,000}\\ The situational analysis should therefore be carried out on two countries, and equal consideration given to them which is then used to make the recommendation to meet C.D2 of one of the countries. Unit 1 assignment 2 grade d achieved jbcjobcjo. Part A introduces learners to the context and consists of a research pack released on the afternoon before the Part B is taken. 1. 200 x (12 x 5) = 12 000 (difference in cost over 5 years) <> \text{Supplies} & \text{$124,000$} & \text{$87,400$}\\ Personal and Business Finance. ______1.______2.______3.______4.______5.______6.______7.______8.______9.______10.______11.______12.InterestExpenseInterestPayableDepreciationExpenseAccumulatedDepreciationUnearnedProfessionalFeesProfessionalFeesEarnedInsuranceExpensePrepaidInsuranceSalariesPayableCashPrepaidRentCashSalariesExpenseSalariesPayableInterestReceivableInterestRevenueCashAccountsReceivable(fromconsulting)CashUnearnedProfessionalFeesCashInterestReceivableRentExpensePrepaidRent1,0004,0003,0004,2001,4004,5006,0005,0009,0007,5002,0002,0001,0004,0003,0004,2001,4004,5006,0005,0009,0007,5002,0002,000. 4. What should xxx and yyy be to maximize profit? }\\ 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. 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! This BTEC National Business Unit 3 online course is currently under development to support the Unit 3 Grade Booster cinema workshops being held for the summer 2022 exam. Attainable vegan tattoo ink pros and cons . 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. Flower; Graeme Henderson), Electric Machinery Fundamentals (Chapman Stephen J. 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. 10. <>stream UNIT 3 personal and business finance. (a) What are the most recognized causes of poverty? were: Training, 50%; Software, 30%; Repair Contracts, 15%; Hardware, 5%. <> unit 3: personal and business finance grade boundaries Posted on June 22, 2022by Mark. They should write about this and we expect a Record of Activity to support this, completed by the Assessor. <>/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 examiners must mark Skip to document Sign inRegister Sign inRegister Home Ask an ExpertNew My Library %PDF-1.5 % BTEC business level 3 unit 3 personal business and finance - Page 2 - The Student Room log insign up Home Forums Forums by section Chat Life and style Entertainment Debate and current affairs Study help University help and courses Universities and HE colleges Careers and jobs Introduce yourself Help and announcements Popular university forums Learners must not have access to the Internet, email, or any other resource. feature), No claims discount is protected may save money in the future if & \text{E. To record an accrued expense. 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 12. 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 12 Merit 15 20 . supplier trying to get him to switch. 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. Section A contains questions on the personal finance unit content and approximately one-third of the marks, and Section B contains questions on the business finance unit content and approximately two-thirds of the marks. in response to the assessment focus/objective and will be modified according to how Learners dont have to design the Application Form, and this can be downloaded from a website. It would be better if the businesses were not in the same industry as this would give learners more scope to investigate the differences. Finance exam 2017 (edited 4 years ago) 0. . Torecordpaymentofaprepaidexpense.I. 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. Control assisting with the prevention of fraud, trade receivables and trade payables. 1896 0 obj perception of where the grade boundaries may lie. Management of business (planning, monitoring and controlling). 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 . x+q!RtPJZM B/ 14 terms. In Unit 7 learners draw together learning from previous units in the qualification. 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. BaakliniC10019. Legislation that regulates working conditions and rules in the United States. }\\ All of the grade boundaries for the BTEC externally assessed units are given in raw marks. They should produce a survey for delegates to analyse. Realistic 80 : 48 . When using a levels-based mark scheme, the be st fit approach should be used. Job Application Form Template word. Unit 3: Personal and Business Finance - sample mark scheme General marking guidance All learners must receive the same treatment. DIFFERENT WAYS TO PAY The use of money as a payment method, advantages and disadvantages of: cash debit card credit card cheque electronic transfer direct debit standing order pre-paid cards contactless cards charge cards store cards mobile banking Bankers Automated Clearing Services (BACS) Faster Payments Service (FPS) Clearing House Automated Payment System (CHAPS). BTEC Level 3 Business: Unit 3 - Personal & Busines 29 terms. 9. \text{\_\_\_\_\_\_11.} SCORES and Grade POINTS TARGET! How does Ernies producer surplus change? The balance sheets for Fantasy Football for 2018 and 2017 are provided below. matches the learners response and place it within that band. There is also a sister page to support you in the delivery of this qualification. 2 most common time frames for interest to be compounded? <>/Filter/FlateDecode/ID[<77D1072CAEB1B2110A00F08B18E6FD7F>]/Index[1895 29]/Info 1894 0 R/Length 73/Prev 591381/Root 1896 0 R/Size 1924/Type/XRef/W[1 3 1]>>stream 2. Raw mark scores can be downloaded by Exams Officers from Edexcel Online. \text{\_\_\_\_\_\_9.} lacking support. Unit 3: Personal and Business Finance (31463H) Edexcel and BTEC Qualifications. D.Torecordreceiptofanaccruedrevenue. M$ P| yI/$I/P JmX$) X=K$}* 7J-G oIg,D o|$*I M$=] For example, if the grade boundary for a Distinction is 29, then 29 is the minimum mark atwhich a Distinction can be achieved. ), WEBSITES TO SUPPORT http: //www. The specification states on the first page: Learners study how UK businesses develop strategies to trade globally. Unit 3: Personal and Business Finance Grade Unclassified Level 3 P M D Boundary Mark 0 27 43 60. % \end{matrix} \text{Interest payable} & \text{0} & \text{$3,800$}\\ will need to recalculate the expense each year figure based 4662 0 obj 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. 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. Different insurance products: products (car, home and contents, life assurance and insurance, travel, pet, health) different types of insurance policy for each product features of different types of insurance advantages and disadvantages of different types and features. Learners need to carry out situational analysis and to consider cultural differences. BTEC Business unit 3 personal and business finance; watch this thread. 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. 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. This success relies on understanding what money is. Businesses like Coca Cola, Apple, Nike are not good choices for this unit. re sponse l acks clarity and fails to provide an adequate answer Different rows Margin of safety = 60 - 40. w``yCKd+)>Y 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. 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 demonstrating a thorough grasp of competing 3 0 obj -salary: salary divided by pay periods For this unit it is expected that learners will work in small groups. \quad & \text{Professional Fees Earned} \ldots\ldots\ldots & \quad & \text{3,000}\\ 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 for each unit includes the assessment criteria and guidance for assessors in the section headed 'Essential information for assessment decisions'. TorecordthisperiodsearningofpriorunearnedrevenueC. Torecordreceiptofunearnedrevenue.B. \text{Total liabilities and stockholders' equity} & \underline{\underline{\$ 4,000,000}} & \underline{\underline{\$ 3,800,000}}\\ on the net book value at the end of the previous year, It is harder to work out what percentage to use to In this pack you will find PowerPoints (with tasks including practice exam questions), templates and handouts. \text{Long-term assets:} & \text{ } & \text{ }\\ \text{\_\_\_\_\_\_5.} 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. holistically. %%EOF Sm,I N-&K$} n{zS$IP D%IS xa$I_|e #QIW&. Contribution Per Unit x Margin of Safety. hb```df B,`q( 1uBHu{9.#[(` H@))@b"/EPl0\B8#" startxref Compliance (preventing fraud, compliance with law and regulations). hb```9, AI@5 @]2]!fki0;*|N rHs1/89wi4K@T'UXmXNNBy`Y@;D1m SA Points are awarded on a sliding scale between the grade boundaries based on the number of raw marks achieved by each learner. Budget 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. The Accounting minor provides students with a comprehensive accounting background; admission is competitive and based on overall UCLA grade-point average, grade-point average in pre-admission courses, and grades in Management 1A and 1B. Torecordanaccruedexpense.B. 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. Examiners should mark according to the mark scheme, not according to their 6 \text{Less: Accumulated depreciation} & \underline{(380,000)} & \underline{(190,000)}\\ Unit 3: Personal and Business FinanceThe exam. endobj internet or who choose not to use this method (1) reducing anxiety of Please ensure that you have also read the ACS terms & conditions. number Edexcel and BTEC qualifications come from Pearson, the world's leading learning company. Courtesy car is an additional cost (but might not want to have this

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