%PDF-1.5 % Paying forward- idea of taking things you have learned and been given and passing it on to another person They should be thinking about future interviews and career development in this learning aim. A more mundane business, like Aldi, offers more potential. 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. interrelationships between factors leading to a supported 12523 Comments Please sign inor registerto post comments. 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} Learners have to plan and stage the event to showcase their organisational and management skills. Select a qualification BTEC Nationals Change Step 2. 3 0 obj 2 0 obj in exactly the same way as t hey mark the last. \text{C. To record payment of an accrued expense.} <> Money you have earned (may or may not be physical). A valid assignment will enable a clear and formal assessment outcome based on the assessment criteria. w``yCKd+)>Y Giving back- returning help or service to someone who gave you help or service A. BTEC Business unit 3 personal and business finance; watch this thread. MARK SCHEME Duration: 1 hour and 30 minutes . Logical reasoning evidenced throughout response which is clear and Learners are permitted access to any relevant software to enable them to complete the Part S task. so lower amounts being paid will improve cash flow (1), Repayments / interest payments are fixed (1) which Express each amount as a percentage of total assets for that year. Control assisting with the prevention of fraud, trade receivables and trade payables. The contrast is in the features: ownership and liability, or size, or sector or purpose. <>/MediaBox[0 0 595.44 841.68]/Parent 1893 0 R/Resources<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]/XObject<>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> Gross Profit. relevant information; there may be major gaps or omissions. A. Functions of Money - BTEC Unit 3: Personal and Business Finance \text{Interest payable} & \text{0} & \text{$3,800$}\\ MANAGING PERSONAL FINANCE Suitability of different financial products and services against individual needs. Level Mark Descriptor I. To record this periods depreciation expense. RISK AND REWARD Risks and rewards of saving versus investment. \text{Common stock} & \text{$786,600$} & \text{$786,600$}\\ It works best if the business is not already operating globally as learners have to carry out situational analysis on two countries it might consider trading in. \text{Stockholders' equity:} & \text{ } & \text{ }\\ 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. perception of where the grade boundaries may lie. It is not acceptable to download these from a company website. Torecordreceiptofunearnedrevenue.B. Part B is a three-hour supervised assessment taken on the timetabled date set by Pearson. 1896 0 obj Evaluate external sources of finance which Wattam Grove could use to fund Option 2 - Camping and caravan site. Learners could therefore choose a different business to ones already used, or use one already researched for the other LAs. Btec business unit 3 - 10 pdf files | Past Papers Archive Levels-based descriptors articulate the skills that a learner is likely to demonstrate in \text{ } & \text{2018} & \text{2017}\\ \hline All these documents are required as a minimum. \quad & \text{Professional Fees Earned} \ldots\ldots\ldots & \quad & \text{3,000}\\ The reason for this is because in the unit specification, A3 covers support for business operating internationally and this has to be analysed for A.M1. \quad & \text{Unearned Professional Fees} \ldots\ldots\ldots & \quad & \text{7,500}\\ Waiting to buy something that you want until you can truly afford it. Content area A UNIT 3. relevant information with a few gaps or omissions. \quad & \text{Accounts Receivable (from consulting)} \ldots\ldots\ldots & \quad & \text{9,000}\\ Please ensure that you have also read the ACS terms & conditions. Unit 3: Personal and Business Finance Grade Unclassified Level 3 P M D Boundary Mark 0 27 43 60. 11. These two videos provide a useful introduction to BTEC external assessment and how best to prepare learners for them. Torecordpaymentofaprepaidexpense.I. 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. Total Fixed Costs / Unit Contribution. 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. 31463 MARK Scheme JAN 2021 - Pearson BTEC Level 3 Nationals in Business 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. <> Unit 2: Finance for Business Finance exam 2017 (edited 4 years ago) 0. . \text{Accounts payable} & \text{$\$ 168,000$} & \text{$\$ 129,200$}\\ Grade boundaries | Pearson qualifications - Edexcel 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). The balance sheets for Fantasy Football for 2018 and 2017 are provided below. endstream endobj startxref (1st Extended Response), Fixed-same every month, require commitment, have little say in how much they are (mortgage, car payment, etc). Something like a raffle is too simple and not suitable. 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. 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. life of the asset. Learning Aim E should use a named, selected business which is trading internationally, and looks at strategic and operational issues. A grade boundary is the minimum mark at which a grade can be achieved. AS/A Level Business - WJEC <>>> 12 000 1 200 = 10 800 (deduction of delivery cost), Copyright 2023 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01, Introductory Econometrics for Finance (Chris Brooks), Public law (Mark Elliot and Robert Thomas), Human Rights Law Directions (Howard Davis), Marketing Metrics (Phillip E. Pfeifer; David J. Reibstein; Paul W. Farris; Neil T. Bendle), Rang & Dale's Pharmacology (Humphrey P. Rang; James M. Ritter; Rod J. 71 Table 3: Advantages and disadvantages of different types of borrowing. vocabulary 4. minor. 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. The important thing is individual learners have the opportunity to do justice to the unit requirements and produce their own evidence. hb```df B,`q( 1uBHu{9.#[(` startxref Demonstrates the use of logical reasoning, clarity, and appropriate Ratio's. 30 terms. Students also viewed Exam 10 October, questions and answers Business markets tend to be less well done as these concepts are more difficult to understand and apply to an actual business. Revenue. What should xxx and yyy be to maximize profit? endobj They will use market research data and other information to make recommendations about the type of marketing campaign that a business should undertake. 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. Torecordthisperiodsuseofaprepaidexpense.H. Secret Trusts - Perfect Essay What Is It? 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. Evidences the weighing up of competing arguments/pros and Eswatini (/ s w t i n i / ESS-wah-TEE-nee; Swazi: eSwatini [swtini]), officially the Kingdom of Eswatini and formerly named Swaziland (/ s w z i l n d / SWAH-zee-land; officially renamed in 2018), is a landlocked country in Southern Africa.It is bordered by Mozambique to its northeast and South Africa to its north, west, south, and southeast. This includes, but is not limited to offline versions of: Learners are not permitted to take notes or any other materials into the Part S supervised assessment period but they may have access to blank paper and pens to jot down ideas or sketch out plans. Explain what fixed and variable taxes are and how they are different. Measuring performance. 31489H - Unit 2: Developing A Marketing Campaign : 90 . Comparing multiple options, unit sizes/prices, looking for deals, buying in bulk, Gross-hourly: rate times wage 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. conducting banking in ways other than face to face (1), Can get face to face which may be an advantage to some consumers 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. re sponse l acks clarity and fails to provide an adequate answer Evidences thorough application leading to a balanced analysis Business Teacher Shop - Teaching Resources - TES wEleet+MHEp2!EtQFbp(]zDUVQF:zDr}U.XihBv)H~/dKo"H3E}r1HUUVPFQ.qFIO8#PFt*e)Z=SBg:kI D7$_)wmhz8[5 After each exam series, the Lead Examiner for each unit writes a report to provide feedback to teachers. Budget PDF Enterprise / Marketing Unit 3: Personal and Business Finance Allow you to retire earlier hVmo6+>$@Im@ M(AMG-e~V,;Z+-'sB Tr'A@ Contribution Per Unit x Margin of Safety. Specific Torecordpaymentofanaccruedexpense.G. \text{Total liabilities and stockholders' equity} & \underline{\underline{\$ 4,000,000}} & \underline{\underline{\$ 3,800,000}}\\ depreciate over the assets lifetime, Will produce lower profit figures in the early years in the To record this periods earning of prior unearned revenue} & \text{F. To record an accrued revenue. Supply and demand curves are illustrative, but they should be clearly explained, and referenced. So learning the formulas is important. containing linkages and interrelationships between factors. Level 0 0 No rewardable material. 0 hbbd```b```rd"YR@d:iyH2e]rKbL@"@}4$3 ` J ! 70 : 54 . PDF Grade Boundaries January 2022 - Edexcel 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. \text{\_\_\_\_\_\_ 3.} It is not necessary to have one for-profit and one not-for-profit business as required by the previous QCF qualification suite. 3. Learners may resit an external assessment to obtain a higher grade of near pass or above. In this pack you will find PowerPoints (with tasks including practice exam questions), templates and handouts. The specification for each unit includes the assessment criteria and guidance for assessors in the section headed 'Essential information for assessment decisions'. Unit 3 Jan 2020 Exam - unit 3 personal and business finanace past Torecordreceiptofanaccruedrevenue.E. June 10, 2022 . All the marks on the mark scheme are designed to be awarded. Personal Finance Unit 3 Test Flashcards | Quizlet \underline{\text{Liabilities and Stockholders' Equity}} & \text{ } & \text{ }\\ Car audio & video Home audio TVs & video Headphones & wireless Marine Smart home. . Personal and Business Finance. & \text{E. To record an accrued expense. \quad & \text{Interest Receivable } \ldots\ldots\ldots & \quad & \text{2,000}\\ arguments/pros and cons in context. The learners could produce powerpoint slides for their evidence, but slides are limiting so it's important they have notes view. \text{Current assets:} & \text{ } & \text{ }\\ on the net book value at the end of the previous year, It is harder to work out what percentage to use to 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. 120 . feature), No claims discount is protected may save money in the future if The specification states on the first page: Learners study how UK businesses develop strategies to trade globally. information; there may be major gaps or omissions. 5 years ago. No claims discount is not protected despite being second most All marks on the marking grid should be used appropriately. Gives you security in case something happens Unit 3: Personal And Business Finance . to supported conclusions. The unit consolidates understanding and skills to enable the interpretation of data, and formulation of decisions and solutions to given complex business problems. 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. 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 ), A. Identify three powers that Congress and the president share. Stakeholders of each business should be similarly given equal consideration and their influence should be relevant to each business. 129 terms. -Used frequently \end{matrix} Recent flashcard sets. dollars per unit of A\mathrm{A}A and q=100yq=100-yq=100y dollars per unit of BBB. 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. SPECIMEN . Torecordthisperiodsdepreciationexpense. When examiners are in doubt re garding the appli cation of the mark scheme to a \text{Equipment} & \text{$1,292,000$} & \text{$1,292,000$}\\ 6 0 obj (DUH1q-}"w|2}> ,T*'+` h9s Fixed/constant- same pay each pay period (salary). View resources Resource collection 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. CURRENT ACCOUNTS Different types, features, advantages and disadvantages, different services offered: standard packaged, premium basic student, 6. She. clarity and fails to provide an adequate answer to the question. unit 3: personal and business finance grade boundaries INCOME TYPES OF INCOME Capital income: loan mortgages shares owners capital debentures. 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. this document for how to a pply levelsbased m ark View more University Ursuline College Course Bioethics (PH 260) Uploaded by sarah her Academic year2015/2016 Helpful? 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. UNIT 3 personal and business finance. All the units can be sold for p=100xp=100-xp=100x 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! 2. There is also a sister page to support you in the delivery of this qualification. 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} & \text{Interest Receivable} \ldots\ldots\ldots & \text{5,000}\\ & \text{Rent Expense} \ldots\ldots\ldots & \text{2,000}\\ 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. vegan tattoo ink pros and cons . Of course, they should also use contrasting markets for A.P1, emerging, developing and developed as indicated in A1. Personal Finance Unit 3 Test Term 1 / 39 A financial plan to effectively and efficiently use a person's limited resources. One of the businesses used for Learning Aim A and B can be used or a different business altogether. 80 : 48 . Would you like me to send them to you? Grade boundaries are the minimum number of marks needed to achieve each grade. & \text{Cash} \ldots\ldots\ldots & \text{2,000}\\ 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. \underline{\text{Assets}} & \text{ } & \text{ }\\ Wtt Yd3 V7NFyU4?' `A{I/mfXD %UR,+D}ABQy] 1,[L"K LkB So for LA C, the learners should be aiming for C.D2 where they are recommending one country for a business to operate in. 4690 0 obj 4 Introduction Aryan_Dawar. Logical reasoning evidenced throughout response which is clear and uses Where some judgement is required, mark schemes will provi de the principles by 14 terms. 128 understanding of relevant inf ormation; any gaps or omissions are "Ernie owns a water pump. \text{\_\_\_\_\_\_9.} Pearson BTEC Level 3 Nationals in Business - Unit 3 - January 2020 . cle ar and uses specialist te chnical language consistently. unit 3: personal and business finance grade boundaries PDF Level 3 Cambridge Technicals in Business - Oxford, Cambridge and RSA vL1d'uIp}|8@ _$I x5`I/+\ .^%If k&I(V Jm9K$l Learners need to understand the financial decisions they will need to take throughout life. 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. assertions rather than supported by evidence. arguments/pros and cons in context; discussion likely to 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. Measurable 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. A raw mark is the actual mark awarded by our examiners for an assessment. 0 or better and file a petition with the student adviser. & \text{Cash} \ldots\ldots\ldots & \text{9,000}\\ 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. \end{matrix} supplier trying to get him to switch. 1895 0 obj In Unit 7 learners draw together learning from previous units in the qualification. /t geo o#?ui4uoJ>Nkm`rz7qc5lVu3&S[C`=RF>_0|\6/5 1 0 obj <> 2. \quad & \text{Cash} \ldots\ldots\ldots & \quad & \text{1,400}\\ dr awing on linkages and interrel ationships between factors. What is the formula for calculating simple interest? \text{Current liabilities:} & \text{ } & \text{ }\\ 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. They must show they understand why the business adheres to ethics and legislation, not just that there are laws to protect people. Contains: Revision checklist. Learning Aims; A Understand the costs involved in business and how businesses make a profit B Understand how businesses plan for success 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. Part A introduces learners to the context and is released before the Part B is taken. 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. Prepare a vertical analysis of Fantasy Football's 2018 and 2017 balance sheets. Unit 3: Personal and Business Finance 4 0 obj . \quad & \text{Cash} \ldots\ldots\ldots & \quad & \text{4,500}\\ x+q!RtPJZM B/ This unit will also give learners an insight into where they can get financial advice and support. Consider the example in class. {{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.
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unit 3: personal and business finance grade boundaries