%PDF-1.5 % 1847 0 obj <>stream What if she is made redundant / furloughed? Examiners must mark the first learner Personal and Business Finance. 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. interrelationships between factors leading to a Drug-List - A list of all drugs required for the exam including they receptors, action. The event itself must be sufficiently complex. & \text{H. To record payment of a prepaid expense. }\\ It is not acceptable to download these from a company website. Edexcel and BTEC qualifications come from Pearson, the world's leading learning company. Examiners' reports are the communication channel between senior examiners and teachers and contain an explanation of how the senior examiners have interpreted the mark schemes as well as examples of both good and poor candidate responses. 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. Unit 3 Personal & Business Finance: Identify question Jan 2018 Enterprise, Economics & Business 5.99K subscribers Subscribe 6.5K views 4 years ago A video outlining how to answer the. 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. A mark of 28 would therefore be a Merit. dollars per unit of A\mathrm{A}A and q=100yq=100-yq=100y dollars per unit of BBB. \text{Common stock} & \text{$786,600$} & \text{$786,600$}\\ 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. hVmo6+>$@Im@ M(AMG-e~V,;Z+-'sB Tr'A@ The assignment is a distinct activity completed independently by learners, and is separate from the teaching and learning for that learning aim or aims. \text{Cash} & \text{$\$ 208,000$} & \text{$\$ 262,200$}\\ The point is that learners have to explain the main features of globalisation and if the businesses are similar, then they won't have much scope to consider the features indicated in section B1. Total Fixed Costs / Unit Contribution. To record this periods depreciation expense. You may prefer to write your own assignment briefs. <>stream Meaning may be conveyed but in a non-specialist way; Unit 3: Personal and Business FinanceThe exam. Ratio's. 30 terms. Aryan_Dawar. \text{ } & \text{2018} & \text{2017}\\ \hline \text{Accounts payable} & \text{$\$ 168,000$} & \text{$\$ 129,200$}\\ 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. Gives you security in case something happens Part S is completed on a computer. are minor. hb```9, AI@5 For example, if the grade boundary for a Distinction is 29, then 29 is the minimum mark atwhich a Distinction can be achieved. Torecordpaymentofanaccruedexpense.D. 8. All marks on the marking grid should be used appropriately. G.Torecordthisperiodsuseofaprepaidexpense. assertions rather than supported by evidence. Business markets tend to be less well done as these concepts are more difficult to understand and apply to an actual business. \text{Equipment} & \text{$1,292,000$} & \text{$1,292,000$}\\ . Students also viewed Exam 10 October, questions and answers Version: 1 Date: 01/10/15 . Money you have earned (may or may not be physical). Explain why instant gratification is often temporarily joyful but costly in the future. clarity and fails to provide an adequate answer to the question. 14 terms. 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. \text{\_\_\_\_\_\_ 12.} <>>> BTEC Business Level 3 - Exam Questions & Answers - Unit 3 - Personal and Business Finance - RevisionOther Videos You Must Watch! . When examiners are in doubt re garding the appli cation of the mark scheme to a We dont want comprehensive coverage of one business with sparse coverage in the contrasting business. 31489H - Unit 2: Developing A Marketing Campaign : 90 . & \text{Salaries Payable} \ldots\ldots\ldots & \text{1,400}\\ TorecordthisperiodsearningofpriorunearnedrevenueC. \text{\_\_\_\_\_\_1.} Content area A UNIT 3. grade for the externally assessed unit. Provides little evidence of application and links between relevant thomassaunders00. Levels-based descriptors articulate the skills that a learner is likely to demonstrate in 1896 0 obj \quad & \text{Accumulated Depreciation} \ldots\ldots\ldots & \quad & \text{4,000}\\ Wtt Yd3 V7NFyU4?' `A{I/mfXD %UR,+D}ABQy] 1,[L"K LkB It means that the performance and asking/answering of analytical questions can be authenticated by the internal verifier and standards verifier. 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. (1) which may improve their decision making (1), Convenient (1) as many banks have branches in city centres (1), Some products may be exclusively available in branches only (1) so \text{Current assets:} & \text{ } & \text{ }\\ endobj \quad & \text{I. -salary: salary divided by pay periods 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. Grade boundaries are the minimum number of marks needed to achieve each grade. Learning Aims B & C are both concerned with planning the event and this work should be done before the event is staged. }\\ \end{matrix} They should also show they know how to use situational analysis techniques and apply to a business: PESTLE, SWOT, Porter's Five Forces and 5 C's. 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. Torecordanaccruedrevenue.C. unit 3: personal and business finance grade boundaries 03 Jun. \quad & \text{Interest Revenue} \ldots\ldots\ldots & \quad & \text{5,000}\\ Learners must produce their own job description, person specification and advert. lower premium offer. Prepare a vertical analysis of Fantasy Football's 2018 and 2017 balance sheets. The specification states on the first page: Learners study how UK businesses develop strategies to trade globally. Learning Aims; A Understand the costs involved in business and how businesses make a profit B Understand how businesses plan for success After the event the success of the event should be reviewed, and the delegates feedback analysed and help them identify improvements. Different types of borrowing, features, advantages and disadvantages: overdraft personal loans hire purchase mortgages credit cards payday loans. \text{Long-term liabilities:} & \text{ } & \text{ }\\ Conclusions may be p resented, but are li kely to be generic To record receipt of unearned revenue.} perception of where the grade boundaries may lie. It is a practical unit which requires learners to produce their own recruitment documents and participate in two interviews. Xaxie2000. This unit includes aspects of both personal and business finance. 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. This unit will also give learners an insight into where they can get financial advice and support. Learners must be re warded for what hb```df B,`q( 1uBHu{9.#[(` Z,-lq}r Q A more mundane business, like Aldi, offers more potential. . endstream \text{\_\_\_\_\_\_10.} Torecordreceiptofanaccruedrevenue.E. information. 9 Award one mark for identification of an advantage for the %%EOF 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. x+q!RtPJZM B/ They should write about this and we expect a Record of Activity to support this, completed by the Assessor. Management of business (planning, monitoring and controlling). Of course, they should also use contrasting markets for A.P1, emerging, developing and developed as indicated in A1. Learning Aim E should use a named, selected business which is trading internationally, and looks at strategic and operational issues. %%EOF What is the formula for calculating simple interest? 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. & \text{Unearned Professional Fees} \ldots\ldots\ldots & \text{3,000}\\ COMMUNICATING WITH CUSTOMERS Methods of interacting with customers, advantages and disadvantages: branch online banking telephone banking mobile banking postal banking. Secret Trusts - Perfect Essay What Is It? 120 . Learners can use Part A for familiarization but are not permitted to make notes to take with them into Part B. These plans must not be submitted as part of the learners work and will not be marked by examiners. The balance sheets for Fantasy Football for 2018 and 2017 are provided below. Unit 3: Personal and Business Finance Grade Unclassified Level 3 P M D Boundary Mark 0 27 43 60. }\\ 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. 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. {{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. . 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. 3. early, Cost is 10 800* more than the loan over the five-year period (excluding endobj 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 D|Q`]i VH2:n>@s000R {, Flower; Graeme Henderson), Electric Machinery Fundamentals (Chapman Stephen J. Raw marks from the external units are converted into points based on performance in the assessment. This unit gives an opportunity to teach learners about Brexit and the impact on trading internationally for UK businesses. ), WEBSITES TO SUPPORT http: //www. 13. <>/XObject<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 594.96 842.04] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> Education Limited 2015, Level Mark Award up to 6 marks. 4663 0 obj would comply with accounting concepts, Give greater tax benefit in early years which would help grow the All the units can be sold for p=100xp=100-xp=100x Sales Revenue - Cost of Goods Sold. MAXIMUM MARK 60. Why People Use Them? It should be a job realistic for someone following a National in Business, so a managerial position may be aspirational, but it isnt suitable. demonstrating a thorough grasp of competing Or you could ask the learners to write a report. Meaning may be conveyed but in a non-specialist way; respon se 2. 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. Pearson BTEC Level 3 Nationals in Business - Unit 3 - January 2020 . BaakliniC10019. 7. Before a person can make a budget they must know __________. bank branch and one further mark for development: Pearson BTEC Level 3 Nationals in Business Unit 3 Final Sample Assessment Materials 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. Business btec Unit 3. stream 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 Torecordthisperiodsearningofpriorunearnedrevenue. 3 0 obj Unit 1 assignment 2 grade d achieved jbcjobcjo. Ashridge, Level Mark Award up to 12 marks. 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. hbbd```b```rd"YR@d:iyH2e]rKbL@"@}4$3 ` J ! depreciate over the assets lifetime, Will produce lower profit figures in the early years in the & \text{Cash} \ldots\ldots\ldots & \text{7,500}\\ endobj examiners must mark Skip to document Sign inRegister Sign inRegister Home Ask an ExpertNew My Library 11 : 0 . Setting grade boundaries When we set grade boundaries, we look at the performance of every learner who took . endobj Displays a well-developed, balanced and coherent evaluation, 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. specialist technical language. I. 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. We provide an Assignment Checking Service which offers you feedback on your assignment briefs. Different types of banks/ financial institutions? 1898 0 obj 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 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. Each assessment is taken under specified conditions, then marked by Pearson and a grade awarded. & \text{Insurance Expense} \ldots\ldots\ldots & \text{4,200}\\ & \text{Cash} \ldots\ldots\ldots & \text{9,000}\\ 4 Award one mark for identification of an advantage to the consumer of using a 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. conducting banking in ways other than face to face (1), Can get face to face which may be an advantage to some consumers Revenue. com is an ad-free, private search engine that you control. At no more . consist of basic description of information. Evaluation likely to consist of basic description of Evidences the weighing up of competing arguments/pros and Unit Price x Quantity Sold. & \text{Rent Expense} \ldots\ldots\ldots & \text{2,000}\\ They consist of two parts: indicati ve content and levels-based descriptors. Learners may resit an external assessment to obtain a higher grade of near pass or above. 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. 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. (a) What are the most recognized causes of poverty? TorecordthisperiodsearningofpriorunearnedrevenueF. Margin of Safety. Actual Sales - Break-Even Level of Output. Car audio & video Home audio TVs & video Headphones & wireless Marine Smart home. Part B is a three-hour supervised assessment taken on the timetabled date set by Pearson. matches the learners response and place it within that band. As with any role play, it is strongly recommended to record the interviews (audio or visually) for a number of reasons. Tort law & Omissions - Lecture notes 3, EAT 340 Solutions - UNIT1 Lesson 12 - Revision Material (Previous Examination Paper 2017 ), Offer and Acceptance - Contract law: Notes with case law, Lab report(shm) - lab report of simple harmonic motion, Unit 6 - The History of the NHS (Journal Article), Importance of Studying Child and Adolescent Development, Acoples-storz - info de acoples storz usados en la industria agropecuaria. 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. 100 marks available You will get a calculator EVERY mark counts!! 0 or better and file a petition with the student adviser. information; there may be major gaps or omissions. 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. \end{matrix} endobj Pearson BTEC Level 3 Nationals in Business &ndash; Unit 3 &ndash; January 2020 &copy; Pearson Education Limited 2020 19 General marking guidance &bull; All learners must 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 4 0 obj 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.