unit 3: personal and business finance grade boundaries

\text{Current liabilities:} & \text{ } & \text{ }\\ Gross Profit. (b) What kinds of assistance might a poor family be able to get from the government? & \text{Salaries Payable} \ldots\ldots\ldots & \text{1,400}\\ 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 Torecordpaymentofanaccruedexpense.D. Part B is a three-hour supervised assessment taken on the timetabled date set by Pearson. minor. & \text{Cash} \ldots\ldots\ldots & \text{9,000}\\ 2 most common time frames for interest to be compounded? 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. 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 Budget (a) What are the most recognized causes of poverty? (c) What combination of personal action and good fortune could help a person rise out of poverty? (2nd essay question). holistically. We want to see that the theory which youve taught is applied to the specific selected businesses. \text{\_\_\_\_\_\_11.} Learners should note interview responses when in the interviewer role and make a decision on whether to recruit. 4679 0 obj 2 0 obj Torecordpaymentofaprepaidexpense.I. Includes repair costs so peace of mind knowing that production should Points are awarded on a sliding scale between the grade boundaries based on the number of raw marks achieved by each learner. \text{Total assets} & \underline{\underline{\$ 4,000,000}} & \underline{\underline{\$ 3,800,000}}\\ SCORES AND GRADE POINTS TARGET ! would comply with accounting concepts, Give greater tax benefit in early years which would help grow the B. Issue 3 April 2017 Pearson Education Limited 2015, Question Outlook - free personal email and calendar from Microsoft. No claims discount is not protected despite being second most This success relies on understanding what money is. 31489H - Unit 2: Developing A Marketing Campaign : 90 . Supply and demand curves are illustrative, but they should be clearly explained, and referenced. were: Training, 50%; Software, 30%; Repair Contracts, 15%; Hardware, 5%. In this pack you will find PowerPoints (with tasks including practice exam questions), templates and handouts. The staging of the event is covered in Learning Aim D and the review of the event is covered in Learning Aim E, and this work should be done after the event itself. 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. 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. So learning the formulas is important. Measurable 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. Evaluation likely to consist of basic description of (. \quad & \text{Accounts Receivable (from consulting)} \ldots\ldots\ldots & \quad & \text{9,000}\\ interrelationships between factors leading to a supported 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). Learners must not have access to the Internet, email, or any other resource. Examiners should mark according to the mark scheme, not according to their \text{A. document for how to a pply levelsbased mark schemes. 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. 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. Ratio's. 30 terms. (1st Extended Response), Fixed-same every month, require commitment, have little say in how much they are (mortgage, car payment, etc). Sm,I N-&K$} n{zS$IP D%IS xa$I_|e #QIW&. endobj 6 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 . 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. Levels-based descriptors articulate the skills that a learner is likely to demonstrate in Timely. on the net book value at the end of the previous year, It is harder to work out what percentage to use to Examiners must mark the first learner within the levels represent the progression of these skills. If you buy the item instantly you would be happy for having it, but it is costly to pay for it in the future. Business. There is also a sister page to support you in the delivery of this qualification. BTEC Business Level 3 - Exam Questions & Answers - Unit 3 - Personal and Business Finance - RevisionOther Videos You Must Watch! 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. Businesses like Coca Cola, Apple, Nike are not good choices for this unit. 0 11. endstream It works well if learners swap documents and apply for each others jobs: as well as preparing documents for the business recruiting someone, learners should also be the applicant, completing CV, covering letter and Application Form. Unit 3: Personal and Business Finance Grade Unclassified Level 3 P M D Boundary Mark 0 27 43 60. <>stream Learning Aims C&D look at the external environment and the market in which a business operates. grade for the externally assessed unit. repair costs), Machine is owned and is an asset and shown on the Statement of Financial The grade boundaries for previous exam series are as follows: The grade boundaries for past Unit 6 tasks are as follows: The grade boundaries for past Unit 7 tasks are as follows: The grade statistics show the number of learners who completed each qualification each year, and the proportion achieving each grade. 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. \text{Supplies} & \text{$124,000$} & \text{$87,400$}\\ \text{Interest payable} & \text{0} & \text{$3,800$}\\ All the marks on the mark scheme are designed to be awarded. costs as the vehicles age. feature), No claims discount is protected may save money in the future if Actual Sales - Break-Even Level of Output. Show these changes in your UNDERSTAND THE PURPOSE OF ACCOUNTING Purpose of accounting Recording transactions. Net-Actual money you are paid (with deductions), -Transactional The grade boundaries for past Unit 2 tasks are as follows: From May 2020 onwards, the total marks for the assessment of Unit 3 was reduced from 100 marks to 80 marks. Management of business (planning, monitoring and controlling). endobj securely all bullet points are displayed at th at band. COMMUNICATING WITH CUSTOMERS Methods of interacting with customers, advantages and disadvantages: branch online banking telephone banking mobile banking postal banking. 3. Explain why instant gratification is often temporarily joyful but costly in the future. 3 0 obj Two contrasting UK businesses operating in contrasting markets are required. Torecordreceiptofunearnedrevenue.B. View more University Ursuline College Course Bioethics (PH 260) Uploaded by sarah her Academic year2015/2016 Helpful? & \text{G. To record this periods use of a prepaid expense. {{navigationJson.popularQualificationtitle}}, {{navigationJson.qualificationcolumnTitle1}}, {{navigationJson.qualificationcolumnTitle2}}, {{navigationJson.qualificationcolumnTitle3}}, Go to the assessment and verification forms, Unit 1: Sample Marked Learner Work for Learning Aim A and B, (Pass) - Exploring Business (Version 1 November 2015), /content/dam/secure/silver/all-uk-and-international/btec-nationals/business/2016/internal-assessment/Sample_Marked_Learner_Work_for_Learning_Aim_A_and_B_Pass_Unit_1_Exploring_Business_Version_1_November_2015.pdf, Unit 1: Sample Marked Learner Work for Learning Aims C and D, (Merit) - Exploring Business (Version 1 July 2016), /content/dam/secure/silver/all-uk-and-international/btec-nationals/business/2016/internal-assessment/Sample_Marked_Learner_Work_for_Learning_Aims_C_and_D_Merit_Unit_1__Exploring_Business_(Version_1_July_2016).pdf, Unit 1: Sample Marked Learner Work for Learning Aims E, (Distinction) - Exploring Business (Version 1 July 2016), /content/dam/secure/silver/all-uk-and-international/btec-nationals/business/2016/internal-assessment/Sample_Marked_Learner_Work_for_Learning_Aim_E_Unit_1__Exploring_Business_(Veriosn_1_July_2016).pdf, Preparing learners for external assessment, Understanding BTEC External Assessment Mark Schemes, (Teaching Services team | Mon-Fri, 9am - 5pm GMT), {{translateWord(navigationJson.covidTitle)}}, {{translateWord(navigationJson.subjectTitle)}}, {{translateWord(navigationJson.qualificationTitle)}}, {{navigationJson.qualificationcolumn1CTAtext}}, {{navigationJson.qualificationcolumn2CTAtext}}, {{navigationJson.qualificationcolumn3CTAtext}}, {{translateWord(navigationJson.supportTitle)}}, {{translateWord(navigationJson.aboutusTitle)}}, {{translateWord(navigationJson.contactusTitle)}}, Unit 2 Developing a Marketing Campaign (31489H), Unit 3 Personal and Business Finance (31463H), BTEC National Certificate in Business (180 GLH), BTEC National Extended Certificate in Business (360 GLH), BTEC National Foundation Diploma in Business (510 GLH), BTEC National Diploma in Business (720 GLH), BTEC National Extended Diploma in Business (1080 GLH), Join the BTEC Business and Enterprise Facebook group. \text{\_\_\_\_\_\_7.} Different rows Learners need to carry out situational analysis and to consider cultural differences. 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. The guidance below is largely taken from Senior Standards Verifier (SSV) Reports. Tutor 2 u. net. Part B is a three-hour supervised assessment taken on the timetabled date set by Pearson. Xaxie2000. 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$3,800,000\text{FANTASY FOOTBALL}\\ \text{Balance Sheets}\\ \text{December 31}\\ \begin{matrix} All marks on the marking grid should be used appropriately. The specification states on the first page: Learners study how UK businesses develop strategies to trade globally. matches the learners response and place it within that band. Contains: Revision checklist. %%EOF %%EOF hVmo6+>$@Im@ M(AMG-e~V,;Z+-'sB Tr'A@ They should be thinking about future interviews and career development in this learning aim. Learners will also consider the factors that influence the implementation of these strategies. Revenue. Provides lit tle evidence of weighing up of competing Learners must produce their own job description, person specification and advert. dr awing on linkages and interrel ationships between factors. 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. Learners should use the same businesses for LAs A and B and choose one of them for AB.D1. x+q!RtPJZM B/ \text{Inventory} & \text{$1,900,000$} & \text{$1,349,000$}\\ The features, outlined in the unit content, should be considered in equal measure in each business. <. endstream The learners could produce powerpoint slides for their evidence, but slides are limiting so it's important they have notes view. more value in the earlier years. Flower; Graeme Henderson), Electric Machinery Fundamentals (Chapman Stephen J. hbbd```b``fA$dr,~ 4662 0 obj perception of where the grade boundaries may lie. endstream Learners have to plan and stage the event to showcase their organisational and management skills. Learners records and diaries/logs of the planning process are expected in their evidence. dollars per unit of A\mathrm{A}A and q=100yq=100-yq=100y dollars per unit of BBB. Pearson BTEC Level 3 Nationals in Business Unit 3 Final Sample Assessment Materials \text{C. To record payment of an accrued expense.} 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. <> Mark schemes should be appli ed positively. <> perception of where the grade boundaries may lie. SPECIMEN . UNIT 3: PERSONAL AND BUSINESS FINANCE THE EXAM. Demonstrates the use of logical reasoning, clarity, and 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. endobj All of the grade boundaries for the BTEC externally assessed units are given in raw marks. lacks clarity and fails to p rovi de an adequate answer to the question. clarity and fails to provide an adequate answer to the question. Analysis likely to consist of basic description of information. \end{matrix} 71 Table 3: Advantages and disadvantages of different types of borrowing. Examiners should first make a holi stic judgement on which band most closely I. 4. 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. BaakliniC10019. 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. costs if machinery breaks down. "Ernie owns a water pump. interrelationships between factors leading to an analysis being presented. 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. \text{Long-term liabilities:} & \text{ } & \text{ }\\ Prepare a horizontal analysis of Fantasy Football's 2018 balance sheet using 2017 as the base year. 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. They should use at least two of these techniques for the award of C.P5 and more for the higher criteria. At no more . Section B the part with all formulas is 2/3 of the marks for the WHOLE paper. 3. lacking support. . Content area A UNIT 3. not made a claim, Current provider might not be giving him as good a deal as new BTEC BUSINESS Unit 3: Personal and Business Finance. conducting banking in ways other than face to face (1), Can get face to face which may be an advantage to some consumers 12. Logical reasoning evidenced throughout response which is clear and uses & \text{Unearned Professional Fees} \ldots\ldots\ldots & \text{3,000}\\ They should write about this and we expect a Record of Activity to support this, completed by the Assessor. Unit 3.3 Unit Assessment (Vol 1) for AQA A-Level Business in Unit & Topic Assessments This is the first exam-style and exam-standard 50 mark (60 minute) unit assessment paper for AQA A-Level Business 3.3. endobj Learners could therefore choose a different business to ones already used, or use one already researched for the other LAs. Total Fixed Costs / Unit Contribution. Logical reasoning evidenced throughout response which is clear and Functions of money: unit of account means of exchange store of value legal tender. 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. 1923 0 obj information. SCORES and Grade POINTS TARGET! & \text{Cash} \ldots\ldots\ldots & \text{7,500}\\ Specific this document for how to a pply levelsbased m ark endstream . Learners may resit an external assessment to obtain a higher grade of near pass or above. \text{\_\_\_\_\_\_10.} Evidence of application demonstrating linkages and The unit consolidates understanding and skills to enable the interpretation of data, and formulation of decisions and solutions to given complex business problems. Indicative content reflects specific content-related points th at a learner might make. \text{Accounts payable} & \text{$\$ 168,000$} & \text{$\$ 129,200$}\\ \quad & \text{Cash} \ldots\ldots\ldots & \quad & \text{4,500}\\ Waiting to buy something that you want until you can truly afford it. 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. 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 . Examiners must mark the first learner . Gives you security in case something happens 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. Examiners should w``yCKd+)>Y business of using a debenture as a source of income and one %PDF-1.6 % Grade boundaries Jan 2023; AQA Politics Paper 1 25 May 2022 Exam chat; OCR Classical Civilisation A2 World of the Hero Paper 2022; 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. 13. Different types of borrowing, features, advantages and disadvantages: overdraft personal loans hire purchase mortgages credit cards payday loans. The updated course will be fully complete by Feb half-term 2022. Who it's for 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 Government and private (religious and secular) organizations offer ___________. <>/Metadata 99 0 R/Pages 1893 0 R/StructTreeRoot 173 0 R/Type/Catalog>> Here is the cost he incurs to produce each bottle of water: If the price rises to $6, how does quantity supplied change? Different types of banks/ financial institutions? 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. 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. Revenue income: cash sales credit sales rent received commission received interest received discount received. The contrast could be in terms of sector, purpose or size and the markets will be developing or developed. Posted at 18:52h in how to respond to i'll do anything for you by cotton collection made in peru. \text{\_\_\_\_\_\_ 12.} are minor. \text{Stockholders' equity:} & \text{ } & \text{ }\\ Secret Trusts - Perfect Essay What Is It? BTEC Business unit 3 personal and business finance. 35 : 22 . <> Torecordanaccruedrevenue.C. To record receipt of unearned revenue.} Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Daniel F Viele, David H Marshall, Wayne W McManus, Fundamentals of Financial Management, Concise Edition. perception of where the grade boundaries may li e. All marks on the mark scheme should be used appropri atel y. 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. This full unit covers all learning aims for Unit 3: Personal and Business Finance. \text{ } & \text{2018} & \text{2017}\\ \hline in exactly the same way as t hey mark the last. 31588H - Unit . The paper will be marked out of 100 with 2 sections. They will use market research data and other information to make recommendations about the type of marketing campaign that a business should undertake. 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. 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} (DUH1q-}"w|2}> ,T*'+` h9s 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. Sales Revenue - Cost of Goods Sold. Repair costs if needed are not covered by loan so could add to overall to supported conclusions. \text{Total liabilities and stockholders' equity} & \underline{\underline{\$ 4,000,000}} & \underline{\underline{\$ 3,800,000}}\\ <>stream Gives a more realistic valuation of the vehicles as they lose \text{\_\_\_\_\_\_9.} Demonstrates the use of logical reasoning, clarity, and appropriate BTEC National Certificate in Business (180 GLH) The chosen businesses should be two contrasting businesses which operate in different markets (developed, emerging or less developed). \quad & \text{Prepaid Rent} \ldots\ldots\ldots & \quad & \text{2,000}\\ . Meaning may be conveyed but in a non-specialist way; response lacks schemes. Torecordreceiptofunearnedrevenue. so lower amounts being paid will improve cash flow (1), Repayments / interest payments are fixed (1) which All these documents are required as a minimum. When using a levels-based mark scheme, the be st fit approach should be used. 0 \quad & \text{Interest Receivable } \ldots\ldots\ldots & \quad & \text{2,000}\\ We dont want comprehensive coverage of one business with sparse coverage in the contrasting business.

unit 3: personal and business finance grade boundaries 2023