<>/Filter/FlateDecode/ID[<587A7234B4B3B2110A00A0BE87FCFE7F>]/Index[4662 29]/Info 4661 0 R/Length 94/Prev 308944/Root 4663 0 R/Size 4691/Type/XRef/W[1 3 1]>>stream Evaluation is presented leading to conclusions but some may be 200 x (12 x 5) = 12 000 (difference in cost over 5 years) <> After the event the success of the event should be reviewed, and the delegates feedback analysed and help them identify improvements. Learning Aims; A Understand the costs involved in business and how businesses make a profit B Understand how businesses plan for success 14. The chosen businesses should be two contrasting businesses which operate in different markets (developed, emerging or less developed). Paying forward- idea of taking things you have learned and been given and passing it on to another person -Few fees Learners should note interview responses when in the interviewer role and make a decision on whether to recruit. Specific But, remember group evidence is not acceptable, and learners must produce their own, individual evidence of their contribution and participation. D|Q`]i VH2:n>@s000R {, Levels-based mark schemes (LBMS) have been designed to assess learner work endobj 4 0 obj \text{\_\_\_\_\_\_8.} 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! 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. Xaxie2000. Business. understanding of relevant inf ormation; any gaps or omissions are Learners notes can include notes about the provided research. endobj Evidence of application demonstrating some linkages and Identify three powers that Congress and the president share. 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 \text{Accounts receivable} & \text{$856,000$} & \text{$999,400$}\\ \text{Current liabilities:} & \text{ } & \text{ }\\ SPECIMEN . 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. 11 : 0 . \text{\_\_\_\_\_\_ 3.} This unit includes aspects of both personal and business finance. -Does not accrue interest Prepare a horizontal analysis of Fantasy Football's 2018 balance sheet using 2017 as the base year. \text{Interest payable} & \text{0} & \text{$3,800$}\\ %PDF-1.5 % As with any role play, it is strongly recommended to record the interviews (audio or visually) for a number of reasons. RISK AND REWARD Risks and rewards of saving versus investment. Provides lit tle evidence of weighing up of competing Mark Scheme (Results) January Enterprise and Entrepreneurship Unit 3 Personal and Business Finance (31463 H) BTEC Level 3 National in Business Mark Scheme (Results) January Enterprise and Entrepreneurship Unit 3 Personal an. Different types of borrowing, features, advantages and disadvantages: overdraft personal loans hire purchase mortgages credit cards payday loans. Torecordpaymentofanaccruedexpense.D. There is also a sister page to support you in the delivery of this qualification. 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. COMMUNICATING WITH CUSTOMERS Methods of interacting with customers, advantages and disadvantages: branch online banking telephone banking mobile banking postal banking. Part B is a three-hour supervised assessment taken on the timetabled date set by Pearson. endobj 9. BTEC BUSINESS Unit 3: Personal and Business Finance. Torecordreceiptofunearnedrevenue.E. 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. Gross Profit. 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 . 129 terms. INFORMATION GUIDANCE AND ADVICE Function, role and responsibilities, advantages and disadvantages of: Citizens Advice independent financial advisor (IFA) price comparison websites debt counsellors Individual Voluntary Arrangements (IVAs) bankruptcy. Gg. UNIT 3: PERSONAL AND BUSINESS FINANCE THE EXAM. The internal and external environment is usually done well and learners can readily use situational analysis techniques. Money you have earned (may or may not be physical). Learners notes must not include any attempt to pre-prepare marketing plans, budgets or timelines. <>stream 6 in exactly the same way as t hey mark the last. in the band that best describes their answer. Select a qualification BTEC Nationals Change Step 2. BaakliniC10019. Torecordpaymentofanaccruedexpense.G. 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. Before a person can make a budget they must know __________. BTEC National Business | Livestream | Unit 3 (Jan 2022) Personal Finance Live Revision tutor2u 200K subscribers Subscribe 375 Share 13K views Streamed 1 year ago #btecbusiness Join Jim. This success relies on understanding what money is. 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. Evidence of application demonstrating some linkages and C.Torecordpaymentofanaccruedexpense. \text{Supplies} & \text{$124,000$} & \text{$87,400$}\\ stickman swing cool math; ufc gym plantation; how to send certified mail with return receipt; bronwydd house porth history <>stream Learners must be re warded for what Timely. GRADE . endstream This also applies to organisation structure and aims and objectives. 5 0 obj 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. (b) What kinds of assistance might a poor family be able to get from the government? BTEC Business unit 3 personal and business finance. Learners could use one of the businesses used for Learning Aims A&B, or choose a different business altogether. Th 2016 OSCA materials include an example of learner work for Learning Aims B-E. As well as investigating ideas for an event, learners should consider actual big events theyve had experience of; they must consider the factors which these events have in common to make them successful to meet B.P3. Secret Trusts - Perfect Essay What Is It? 4. Aryan_Dawar. %PDF-1.6 % B. 12 : 0 . 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. Comparing multiple options, unit sizes/prices, looking for deals, buying in bulk, Gross-hourly: rate times wage 128 Level Mark Descriptor An assignment is set after the content of specific learning aims has been delivered. 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. All marks on the marking grid should be used appropriately. Unit 3 - Personal FInance. endobj For example, if the grade boundary for a Distinction is 29, then 29 is the minimum mark atwhich a Distinction can be achieved. <> All the units can be sold for p=100xp=100-xp=100x Express each amount as a percentage of total assets for that year. Torecordthisperiodsdepreciationexpense. Examiners should life of the asset. \quad & \text{Prepaid Rent} \ldots\ldots\ldots & \quad & \text{2,000}\\ (You can use letters more than once. These two videos provide a useful introduction to BTEC external assessment and how best to prepare learners for them. }\\ A financial plan to effectively and efficiently use a person's limited resources. Go to the question papers, mark schemes and examiners' reports. <> & \text{Interest Expense} \ldots\ldots\ldots & \text{1,000}\\ interrelationships between factors leading to a hbbd```b``fA$dr,~ 4679 0 obj 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. It would be better if the businesses were not in the same industry as this would give learners more scope to investigate the differences. 100 marks available You will get a calculator EVERY mark counts!! Christopher_RHEAD. Unit 3: Personal and Business FinanceThe exam. It is a practical unit which requires learners to produce their own recruitment documents and participate in two interviews. (c) What combination of personal action and good fortune could help a person rise out of poverty? endobj 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. \text{\_\_\_\_\_\_5.} AS Business Book: Year 1 - Opportunities and Functions. Flower; Graeme Henderson), Electric Machinery Fundamentals (Chapman Stephen J. 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. Consider the example in class. \quad & \text{Professional Fees Earned} \ldots\ldots\ldots & \quad & \text{3,000}\\ 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. hbbd```b``d"""``H,\6D IFQ[,,[V/"%Ml% K&F  _6 feature), No claims discount is protected may save money in the future if 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 6 0 obj They must show they understand why the business adheres to ethics and legislation, not just that there are laws to protect people. 31463 MARK Scheme JAN 2021 - Pearson BTEC Level 3 Nationals in Business - Unit 3 - 19 Unit 3: - Studocu nice work thank you unit personal and business finance mark scheme general marking guidance all learners must receive the same treatment. assertions rather than supported by evidence. graph.". 4 Award one mark for identification of an advantage to the consumer of using a not made a claim, Current provider might not be giving him as good a deal as new Issue 3 April 2017 Pearson Education Limited 2015. How does Ernies producer surplus change? 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. relevant information; there may be major gaps or omissions. <> 8. An Administrative Support Guide is available to help guide you through the assessment process. \text{Accounts payable} & \text{$\$ 168,000$} & \text{$\$ 129,200$}\\ matches the learners response and place it within that band. startxref Award one mark for the correct formula in words or numbers: Award one further mark for the correct calculation of profit of 52 000, 10a Award three marks for the correct response of 25%, Award one further mark for the correct calculation of revenue of 260 000, Pearson BTEC Level 3 Nationals in Business Unit 3 Issue 3 April 2017 Pearson For this unit it is expected that learners will work in small groups. \text{B. Everything you need is in this bundle, taking the stress out of teaching and planning this unit of work. Level 0 0 No rewardable material. We want to see that the theory which youve taught is applied to the specific selected businesses. Sm,I N-&K$} n{zS$IP D%IS xa$I_|e #QIW&. 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 \text{\_\_\_\_\_\_7.} 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. endstream Unit 3: Personal and Business Finance (31463H) Edexcel and BTEC Qualifications. No claims discount is not protected despite being second most Last year's sales in 4 departments of the Grand Solutions Computer Company Business markets tend to be less well done as these concepts are more difficult to understand and apply to an actual business. \text{\_\_\_\_\_\_1.} 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. BTEC business level 3 unit 3 personal business and finance - Page 2 - The Student Room log insign up Home Forums Forums by section Chat Life and style Entertainment Debate and current affairs Study help University help and courses Universities and HE colleges Careers and jobs Introduce yourself Help and announcements Popular university forums 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. endstream endobj 1821 0 obj <>/Metadata 56 0 R/Pages 1818 0 R/StructTreeRoot 84 0 R/Type/Catalog/ViewerPreferences 1835 0 R>> endobj 1822 0 obj <>/MediaBox[0 0 594.96 842.04]/Parent 1818 0 R/Resources<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]/XObject<>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 1823 0 obj <>stream Car audio & video Home audio TVs & video Headphones & wireless Marine Smart home. 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. Personal and Business Finance. 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. Evaluate external sources of finance which Wattam Grove could use to fund Option 2 - Camping and caravan site. 5 years ago. Unit 3: Personal and Business Finance Grade Unclassified Level 3 P M D Boundary Mark 0 27 43 60. Repair costs if needed are not covered by loan so could add to overall UNDERSTAND THE PURPOSE OF ACCOUNTING Purpose of accounting Recording transactions. <>stream Contains: Revision checklist. Learners records and diaries/logs of the planning process are expected in their evidence. Different rows uses specialist te chnical language consistently and fluently. 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. 4 Introduction Measuring performance. \quad & \text{Salaries Payable} \ldots\ldots\ldots & \quad & \text{6,000}\\ The situational analysis should therefore be carried out on two countries, and equal consideration given to them which is then used to make the recommendation to meet C.D2 of one of the countries. 4663 0 obj the consumer may receive more interest/pay lower fees (1), Lower interest rates means paying less interest on existing debt. 13. 31489H - Unit 2: Developing A Marketing Campaign : 90 . Learning Aims C&D look at the external environment and the market in which a business operates. SCORES AND GRADE POINTS TARGET ! Logical reasoning evidenced throughout response which is arguments/pros and cons in context. 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). 4690 0 obj Meaning may be conveyed but in a non-specialist way; respon se TorecordthisperiodsearningofpriorunearnedrevenueC. w``yCKd+)>Y Pearson BTEC Level 3 Nationals in Business Unit 3 19. So for LA C, the learners should be aiming for C.D2 where they are recommending one country for a business to operate in. The learners could produce powerpoint slides for their evidence, but slides are limiting so it's important they have notes view. hb```,l@( 0 or better and file a petition with the student adviser. & \text{Prepaid Rent} \ldots\ldots\ldots & \text{4,500}\\ {CM5W@I9}{? 1|1gQ6r/E={Lv|/{l]|D"ql:Ort0t00ht0xt0H40Jt00v0vt0Dt40pt4)8XZ( f$A!AHs 1? perception of where the grade boundaries may li e. All marks on the mark scheme should be used appropri atel y. 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. accounting concepts, Prevents understating the expense / overstating profits so 1896 0 obj UNDERSTAND THE IMPORTANCE OF MANAGING PERSONAL FINANCE Planning expenditure, common principles to be considered in planning personal finances: to avoid getting into debt to control costs avoid legal action and/or repossession remain solvent maintain a good credit rating avoid bankruptcy to manage money to fund purchases generate income and savings set financial targets and goals provide insurance against loss or illness counter the effects of inflation. Whilst Yasin is cancelling the insurance Shirevale could make a We want to see a valid analysis of key factors, including awareness of the importance of contingency planning for C.M3. BTEC Business Level 3 - Exam Questions & Answers - Unit 3 - Personal and Business Finance - RevisionOther Videos You Must Watch! Government and private (religious and secular) organizations offer ___________. Revenue income: cash sales credit sales rent received commission received interest received discount received. 2 most common time frames for interest to be compounded? Torecordthisperiodsuseofaprepaidexpense.D. Make you wealthy, The number of times interest is calculated against principle, The amount of money you owe someone or that you have saved. Margin of Safety. Show these changes in your We expect clear explanations of market theory, how the market will influence the chosen business when making pricing and output decisions. (2nd essay question). What if she is made redundant / furloughed? <>/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>> \text{Retained earnings} & \underline{2,209,400} & \underline{2,044,400}\\ Pearson BTEC Level 3 Nationals in Business Unit 3 Final Sample Assessment Materials Net-Actual money you are paid (with deductions), -Transactional Generic organisation charts and generic coverage of what different departments do is not appropriate. Provides lit tle evidence of appli cation and li nks between relevant 12. Marks will be awarded towards the top or bottom of that band depending on how 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. Learners need to carry out situational analysis and to consider cultural differences. \text{Common stock} & \text{$786,600$} & \text{$786,600$}\\ Unit Price x Quantity Sold. The mark awarded within the band will be decided based on the quality of the answer Grade boundaries are the minimum number of marks needed to achieve each grade. We dont want comprehensive coverage of one business with sparse coverage in the contrasting business. The BTEC Centre Guides below provide guidance on how to run the assessment of internally assessed units. This page will try and help you understand the assessment of our Level 3 (RQF) BTEC Nationals in Business. \end{matrix} 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 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. BTEC National Certificate in Business (180 GLH) they have shown they can do, rather than be penalised for omissions. ), A. 11. She. \text{\_\_\_\_\_\_4.} 1905 0 obj Position increasing the value of the business, Works out 10 800* cheaper (ignoring repair costs) over the life, Interest rates could fall which would reduce the cost, Significant deposit might be required that the business may not have, Could lose the property if it defaults on the loan repayments, Additional installation and delivery cost, which will need to be funded The learners have to complete two SWOTs for the interviewer and interviewee roles and from this information, prepare a personal skills development plan. 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. 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. ~=~z5Xfq\E[\Q|n+8!u_>) Allow you to retire earlier Compliance (preventing fraud, compliance with law and regulations). June 10, 2022 . . A set of slides produced by a group of learners is not appropriate evidence here as it is not possible to perceive individual contribution and understanding. Mark schemes should be appli ed positively. Business enterprise Level 3 63% (8) 14. \text{C. To record payment of an accrued expense.} vocabulary 4. 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. hVmo6+>$@Im@ M(AMG-e~V,;Z+-'sB Tr'A@ 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. Part A introduces learners to the context and is released before the Part B is taken. In this unit you willl sit a 2 hour written exam in this unit. The assignment is a distinct activity completed independently by learners, and is separate from the teaching and learning for that learning aim or aims. % consist of basic description of information. Giving back- returning help or service to someone who gave you help or service perception of where the grade boundaries may lie. Ratio's. 30 terms. not worthy of credit according to the mark scheme. 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. \end{matrix} %%EOF 2 0 obj Two contrasting UK businesses operating in contrasting markets are required. specialist technical language consistently. %%EOF 2. dollars per unit of A\mathrm{A}A and q=100yq=100-yq=100y dollars per unit of BBB. are minor. ju dgement/judgements being made. unit 3: personal and business finance grade boundaries 03 Jun. Margin of safety = 60 - 40. Meaning may be conveyed but in a non-specialist way; Learners must produce their own job description, person specification and advert. Management of business (planning, monitoring and controlling). Or you could ask the learners to write a report. hb```9, AI@5 The points scores available for each external unit at grade boundaries are as follows: Unit Size 90 GLH 120 GLH Unclassified 0 0 Near Pass 6 8 Pass 9 12 Merit 15 20 . they have evidenced each of the descriptor bullet points. 80 : 48 . 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. Learners need to bring out the contrast in the ways they operate internationally. Gracen9111. Learners should always show their individual knowledge with their own detailed speaker notes - if they choose to do a group presentation. \quad & \text{Interest Receivable } \ldots\ldots\ldots & \quad & \text{2,000}\\ costs if machinery breaks down. To record this periods earning of prior unearned revenue} & \text{F. To record an accrued revenue. containing linkages and interrelationships between factors. \underline{\text{Assets}} & \text{ } & \text{ }\\ perception of where the grade boundaries may lie. In Unit 7 learners draw together learning from previous units in the qualification. 15.00 Add to cart Share : Full description License Delivery & returns Business Assessment Resources Unit & Topic Assessments \text{Equipment} & \text{$1,292,000$} & \text{$1,292,000$}\\ Gives a more realistic valuation of the vehicles as they lose \quad & \text{Accumulated Depreciation} \ldots\ldots\ldots & \quad & \text{4,000}\\