Tutor 2 u. net. 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. 14. they have evidenced each of the descriptor bullet points. rel ation to the assessment outcomes being targeted by the question. 7. They must show they understand why the business adheres to ethics and legislation, not just that there are laws to protect people. We want to see that the theory which youve taught is applied to the specific selected businesses. 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. Attainable \text{Current liabilities:} & \text{ } & \text{ }\\ & \text{G. To record this periods use of a prepaid expense. 10. Learning Aims C&D look at the external environment and the market in which a business operates. 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. competing arguments, le ading to conclusions. in exactly the same way as t hey mark the last. 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. endstream cle ar and uses specialist te chnical language consistently. 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. & \text{Interest Expense} \ldots\ldots\ldots & \text{1,000}\\ \text{\_\_\_\_\_\_ 12.} Examiners should first make a holi stic judgement on which band most closely <>stream
Would you like me to send them to you? Lecture notes, lectures 1-19 - materials slides, Strategic Operations Management PS4S26-V2 - Assessment 1, 3. Personal finance involves the understanding of why money is important and how managing money can help prevent future financial difficulties. 1897 0 obj Margin of safety = 60 - 40. We have provided Authorised Assignment Briefs (AABs) which you can download and use with your learners. !BTEC Business Unit 3 Formula. Unit 3 - Personal FInance. You may prefer to write your own assignment briefs. -Have various fees, -Investment 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 . Personal and Business Finance. 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. To record this periods earning of prior unearned revenue} & \text{F. To record an accrued revenue. In this pack you will find PowerPoints (with tasks including practice exam questions), templates and handouts. They consist of two parts: indicati ve content and levels-based descriptors. alternative response. Before a person can make a budget they must know __________. UNDERSTAND THE IMPORTANCE OF MANAGING PERSONAL FINANCE Role of money is affected and influenced by a number of factors: personal attitudes towards risk and reward, borrowing, spending and saving life stages (childhood, adolescence, young adult, middle age, old age), key features of each stage, financial needs and implications at each stage culture, including religious and ethical beliefs life events can vary the personal life cycle from individual to individual external influences/trends and the financial-related effects interest rates, cost of borrowing versus reward of saving. The BTEC Centre Guides below provide guidance on how to run the assessment of internally assessed units. to the question. As with any role play, it is strongly recommended to record the interviews (audio or visually) for a number of reasons. The learners could produce powerpoint slides for their evidence, but slides are limiting so it's important they have notes view. It is not acceptable to download these from a company website. more value in the earlier years. Specific It would be better if the businesses were not in the same industry as this would give learners more scope to investigate the differences. Christopher_RHEAD. Learners need to bring out the contrast in the ways they operate internationally. 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. The materials already provided here will remain, along with lots of new revision resources. Prevents overstating the vehicles value so would comply with Something like a school/college special event for other students to raise money for charity would be appropriate. \text{Accounts receivable} & \text{$856,000$} & \text{$999,400$}\\ 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. Or you could ask the learners to write a report. So for LA C, the learners should be aiming for C.D2 where they are recommending one country for a business to operate in. \quad & \text{Professional Fees Earned} \ldots\ldots\ldots & \quad & \text{3,000}\\ 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). lower premium offer. The specification for each unit includes the assessment criteria and guidance for assessors in the section headed 'Essential information for assessment decisions'. In this unit learners examine how businesses adapt their approaches to management in response to challenges in their environment. (2nd essay question). A financial plan to effectively and efficiently use a person's limited resources. 31489H - Unit 2: Developing A Marketing Campaign : 90 . This full unit covers all learning aims for Unit 3: Personal and Business Finance. A mark of 28 would therefore be a Merit. There are four externally assessed units and they are either of 90 or 120 GLH. demonstrating a thorough grasp of competing arguments, leading Learners must be re warded for what Unit 3 Personal and Business Finance Unit 6 Principles of Management Unit 7 Business Decision Making Grade statistics The grade statistics show the number of learners who completed each qualification each year, and the proportion achieving each grade. \text{Cash} & \text{$\$ 208,000$} & \text{$\$ 262,200$}\\ Generic organisation charts and generic coverage of what different departments do is not appropriate. Logical reasoning evidenced throughout response which is clear and 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 Logical reasoning evidenced throughout response which is 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. 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. Meaning may be conveyed but in a non-specialist way; respon se 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. Consider the example in class. <> Torecordthisperiodsdepreciationexpense.\begin{matrix} Measurable Find grade boundaries for the latest exam series in which exams were taken or, if you need to view grade boundaries from earlier exam series, you can do so by using the tool below. information. 12523 Comments Please sign inor registerto post comments. \end{matrix} \text{\_\_\_\_\_\_2.} 9. 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} depreciate over the assets lifetime, Will produce lower profit figures in the early years in the \text{\_\_\_\_\_\_1.} Job Application Form Template word. \quad & \text{Accumulated Depreciation} \ldots\ldots\ldots & \quad & \text{4,000}\\ w``yCKd+)>Y document for how to a pply levelsbased mark schemes. information. \text{Inventory} & \text{$1,900,000$} & \text{$1,349,000$}\\ This also applies to organisation structure and aims and objectives. <>
Drug-List - A list of all drugs required for the exam including they receptors, action. Examiners should mark according to the mark scheme, not according to their & \text{Cash} \ldots\ldots\ldots & \text{9,000}\\ \text{\_\_\_\_\_\_11.} Ratio's. 30 terms. <>/XObject<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 594.96 842.04] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>>
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: Business. 2. Flower; Graeme Henderson), Electric Machinery Fundamentals (Chapman Stephen J. Learners may resit an external assessment to obtain a higher grade of near pass or above. hbbd```b``d"""``H,\6D IFQ[,,[V/"%Ml% K&F _6 Which is more important to budgeting: income or cash flows? 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. Students also viewed Exam 10 October, questions and answers 1895 0 obj All these documents are required as a minimum. 80 : 48 . Prepare a horizontal analysis of Fantasy Football's 2018 balance sheet using 2017 as the base year. \text{Equipment} & \text{$1,292,000$} & \text{$1,292,000$}\\ 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. }\\ They should use at least two of these techniques for the award of C.P5 and more for the higher criteria. 1 0 obj
Torecordpaymentofaprepaidexpense.I. Comparing multiple options, unit sizes/prices, looking for deals, buying in bulk, Gross-hourly: rate times wage endobj 9 Award one mark for identification of an advantage for the Express each amount as a percentage of total assets for that year. specialist technical language consistently. \text{\_\_\_\_\_\_8.} always award full marks if deserved, i. if the answer matches the mark scheme. 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 . Unit 3: Personal And Business Finance . Part B is a three-hour supervised assessment taken on the timetabled date set by Pearson. }\\ Learners must produce their own job description, person specification and advert. Learners will be pl aced We provide an Assignment Checking Service which offers you feedback on your assignment briefs. Learners can use Part A for familiarization but are not permitted to make notes to take with them into Part B. 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. Government and private (religious and secular) organizations offer ___________. Pearson BTEC Level 3 Nationals in Business – Unit 3 – January 2020 © Pearson Education Limited 2020 19 General marking guidance • All learners must have access to the annotated research and the two pages of prepared notes to allow them to complete the task, have access to permitted software or applications, offline Office applications, such as Microsoft Office, Open Office, etc, any other offline applications, such as project planning software, calculators, spell-checkers, etc. lacking support. Learners must not have access to the Internet, email, or any other resource. Gross Profit. I. Explain what giving back and paying forward are and explain the difference between the two. Torecordpaymentofanaccruedexpense.G. Show these changes in your 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. 4 0 obj
Emma_Upson. . In this unit you willl sit a 2 hour written exam in this unit. What if she is made redundant / furloughed? 2 0 obj
A. 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. 200 x (12 x 5) = 12 000 (difference in cost over 5 years) 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 interrelationships between factors leading to a supported Repair costs if needed are not covered by loan so could add to overall schemes. Torecordreceiptofunearnedrevenue. Aryan_Dawar. the consumer may receive more interest/pay lower fees (1), Lower interest rates means paying less interest on existing debt. Provides lit tle evidence of appli cation and li nks between relevant \text{\_\_\_\_\_\_7.} 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. business, Harder to calculate than the straight line method as you The mark awarded within the band will be decided based on the quality of the answer BTEC Level 3 Business: Unit 3 - Personal & Busines 29 terms. 12 ; Merit 15 20 . Supply and demand curves are illustrative, but they should be clearly explained, and referenced. In this unit learners examine marketing aims and objectives for existing products/services and understand the importance of relevant, valid and appropriate research in relation to the needs and wants of customers. Content area A UNIT 3. 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. Businesses like Coca Cola, Apple, Nike are not good choices for this unit. 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 unit 3: personal and business finance grade boundaries 03 Jun. Torecordreceiptofunearnedrevenue.E. Z,-lq}r Q 5. -Limited in transactions. matches the learners response and place it within that band. on the net book value at the end of the previous year, It is harder to work out what percentage to use to Unit 3: Personal and Business Finance (31463H) Edexcel and BTEC Qualifications. products may be more suited to their needs (1), Accessibility to a range of services for those without devices or the \text{Long-term liabilities:} & \text{ } & \text{ }\\ View grade boundaries from the most recent exam series Find all available grade boundaries Step 1. RISK AND REWARD Risks and rewards of saving versus investment. 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. \end{matrix} 3. When using a levels-based mark scheme, the be st fit approach should be used. Raw mark scores can be downloaded by Exams Officers from Edexcel Online. 3 0 obj
in response to the assessment focus/objective and will be modified according to how INVESTMENT Different types of saving and investment features, advantages and disadvantages: individual savings accounts (ISAs) deposit and savings accounts premium bonds and gilts shares pensions. Paying forward- idea of taking things you have learned and been given and passing it on to another person TorecordthisperiodsearningofpriorunearnedrevenueC. COMMUNICATING WITH CUSTOMERS Methods of interacting with customers, advantages and disadvantages: branch online banking telephone banking mobile banking postal banking. information. Allow you to retire earlier 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. 4690 0 obj 1923 0 obj %PDF-1.7
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x+q!RtPJZM B/ BTEC BUSINESS Unit 3: Personal and Business Finance. Major and Minor Codes. com is an ad-free, private search engine that you control. 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. 0 H@))@b"/EPl0\B8#" Control assisting with the prevention of fraud, trade receivables and trade payables. accounting concepts, Prevents understating the expense / overstating profits so 1. 2 most common time frames for interest to be compounded? 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. What is the formula for calculating simple interest? Different types of borrowing, features, advantages and disadvantages: overdraft personal loans hire purchase mortgages credit cards payday loans. 1833 0 obj
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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. Evaluation likely to consist of basic description of The chosen businesses should be two contrasting businesses which operate in different markets (developed, emerging or less developed). repair costs), Machine is owned and is an asset and shown on the Statement of Financial Unit 11 Relationship Marketing Issue 2.pdf When setting a budget, you must manage your _________ and limit your ___________. vocabulary 4. Unit 3: Personal and Business Finance - sample mark scheme General marking guidance All learners must receive the same treatment. For Learning Aim D, business markets are the focus: D.D3 requires an evaluation of how changes in the market have impacted on a business, and how this might affect the reaction of the business to future changes. 50 terms. 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). }\\ Evidences thorough application leading to a balanced analysis %PDF-1.6
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<> Learners could use one of the businesses used for Learning Aims A&B, or choose a different business altogether. It is not necessary to have one for-profit and one not-for-profit business as required by the previous QCF qualification suite. This is a popular optional unit. 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. For this unit it is expected that learners will work in small groups. 5 0 obj
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. Award one mark for the correct formula in words or numbers: Award one further mark for the correct calculation of profit of 52 000, 10a Award three marks for the correct response of 25%, Award one further mark for the correct calculation of revenue of 260 000, Pearson BTEC Level 3 Nationals in Business Unit 3 Issue 3 April 2017 Pearson later years of the assets life, which helps offset greater repair unit 3: personal and business finance grade boundaries. To record this periods depreciation expense. Can get more personalised service / better advice (1) because some . lacks clarity and fails to p rovi de an adequate answer to the question. BaakliniC10019. early, Cost is 10 800* more than the loan over the five-year period (excluding \underline{\text{Assets}} & \text{ } & \text{ }\\ These plans must not be submitted as part of the learners work and will not be marked by examiners. endobj 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. \quad & \text{Interest Payable} \ldots\ldots\ldots & \quad & \text{1,000}\\ Make you wealthy, The number of times interest is calculated against principle, The amount of money you owe someone or that you have saved. 3. We set grade boundaries for each grade, at Distinction, Merit and Pass. \quad & \text{Cash} \ldots\ldots\ldots & \quad & \text{4,500}\\ ), 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.