specialist technical language. Content area A UNIT 3. Realistic Stakeholders of each business should be similarly given equal consideration and their influence should be relevant to each business. %%EOF the consumer may receive more interest/pay lower fees (1), Lower interest rates means paying less interest on existing debt. Job Application Form Template word. Torecordthisperiodsuseofaprepaidexpense.D. % Level 1 1 3 Demonstrates isolated knowledge and understanding of relevant, Level 2 4-6 Demonstrates accurate knowledge and understanding of relevant, Level 3 7-8 Demonstrates accurate and thorough knowledge and, *1 000 800 = 200 (difference in monthly cost) A mark of 28 would therefore be a Merit. Part B is a three-hour supervised assessment taken on the timetabled date set by Pearson. Learners will consider business situations/scenarios where they are required to select and use appropriate evidence from several sources and support their arguments. arguments/pros and cons in context; discussion likely to All the marks on the mark scheme are designed to be awarded. Attainable Something like a raffle is too simple and not suitable. SCORES and Grade POINTS TARGET! 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 National Certificate in Business (180 GLH) Knowledge Organiser. \quad & \text{Prepaid Rent} \ldots\ldots\ldots & \quad & \text{2,000}\\ Recent flashcard sets. Torecordpaymentofaprepaidexpense.I. Specific View more University Ursuline College Course Bioethics (PH 260) Uploaded by sarah her Academic year2015/2016 Helpful? As with any role play, it is strongly recommended to record the interviews (audio or visually) for a number of reasons. Posted at 18:52h in how to respond to i'll do anything for you by cotton collection made in peru. Repair costs if needed are not covered by loan so could add to overall Learners have to plan and stage the event to showcase their organisational and management skills. The learners could produce powerpoint slides for their evidence, but slides are limiting so it's important they have notes view. internet or who choose not to use this method (1) reducing anxiety of Z,-lq}r Q It is not necessary to have one for-profit and one not-for-profit business as required by the previous QCF qualification suite. 4 Award one mark for identification of an advantage to the consumer of using a re sponse l acks clarity and fails to provide an adequate answer Learners need to understand the financial decisions they will need to take throughout life. relevant information; there may be major gaps or omissions. If a learner has more than one attempt, then the best result will be used for qualification grading. Evidence of application demonstrating linkages and 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 This unit will also give learners an insight into where they can get financial advice and support. UNDERSTAND THE PURPOSE OF ACCOUNTING Purpose of accounting Recording transactions. If you buy the item instantly you would be happy for having it, but it is costly to pay for it in the future. How does Ernies producer surplus change? Examiners should mark according to the mark scheme, not according to their BTEC National Business Unit 3 Resources These fantastic resources are designed to help students maximise their performance in Unit 3 (Personal and Business Finance). }\\ Torecordreceiptofunearnedrevenue.E. MARK SCHEME Duration: 1 hour and 30 minutes . The materials already provided here will remain, along with lots of new revision resources. \text{\_\_\_\_\_\_10.} <>/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>> Drug-List - A list of all drugs required for the exam including they receptors, action. 0 are minor. examiners must mark Skip to document Sign inRegister Sign inRegister Home Ask an ExpertNew My Library 1820 0 obj <> endobj endobj endobj Select a qualification BTEC Nationals Change Step 2. 1905 0 obj this document for how to a pply levelsbased m ark Management of business (planning, monitoring and controlling). We expect clear explanations of market theory, how the market will influence the chosen business when making pricing and output decisions. 4 Introduction \text{Less: Accumulated depreciation} & \underline{(380,000)} & \underline{(190,000)}\\ Something like a school/college special event for other students to raise money for charity would be appropriate. Learners should always show their individual knowledge with their own detailed speaker notes - if they choose to do a group presentation. & \text{Cash} \ldots\ldots\ldots & \text{2,000}\\ D|Q`]i VH2:n>@s000R {, 70 : 54 . always award full marks if deserved, i. if the answer matches the mark scheme. Part B is a three-hour supervised assessment taken on the timetabled date set by Pearson. Prepare a vertical analysis of Fantasy Football's 2018 and 2017 balance sheets. 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 Waiting to buy something that you want until you can truly afford it. 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). \quad & \text{I. \underline{\text{Assets}} & \text{ } & \text{ }\\ Examiners must mark the first learner . arguments/pros and cons in context. All these documents are required as a minimum. which marks will be awarded and exempli fi cation may be limited. Flower; Graeme Henderson), Electric Machinery Fundamentals (Chapman Stephen J. ), A. Indicati ve content endobj -salary: salary divided by pay periods Outlook - free personal email and calendar from Microsoft. (a) What are the most recognized causes of poverty? 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. <>stream not made a claim, Current provider might not be giving him as good a deal as new UNIT 3: PERSONAL AND BUSINESS FINANCE THE EXAM. 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. 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. Which is more important to budgeting: income or cash flows? On a circle graph , how many degrees should be used to show the sales of each department? in exactly the same way as t hey mark the last. 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. & \text{H. To record payment of a prepaid expense. hbbd```b``fA$dr,~ Refer to the guidance on the cover of In this unit you willl sit a 2 hour written exam in this unit. \quad & \text{Professional Fees Earned} \ldots\ldots\ldots & \quad & \text{3,000}\\ %PDF-1.7 % & \text{Cash} \ldots\ldots\ldots & \text{7,500}\\ \text{Total assets} & \underline{\underline{\$ 4,000,000}} & \underline{\underline{\$ 3,800,000}}\\ stream \quad & \text{Salaries Payable} \ldots\ldots\ldots & \quad & \text{6,000}\\ To record receipt of unearned revenue.} }\\ All marks on the marking grid should be used appropriately. Explain what giving back and paying forward are and explain the difference between the two. 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. 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. \text{ } & \text{2018} & \text{2017}\\ \hline {{navigationJson.popularQualificationtitle}}, {{navigationJson.qualificationcolumnTitle1}}, {{navigationJson.qualificationcolumnTitle2}}, {{navigationJson.qualificationcolumnTitle3}}, Grade boundaries - January 2023 - Edexcel Award Pass Marks, /content/dam/pdf/Support/Grade-boundaries/Edexcel-Award/2301-edexcel-awards-grade-boundaries-v1.pdf, Grade Boundaries - January 2023 - International A Level, /content/dam/pdf/Support/Grade-boundaries/International-A-level/2301-ial-subject-grade-boundaries-v1.pdf, Notional Component Grade Boundaries - January 2023 - International GCSE (9-1), /content/dam/pdf/Support/Grade-boundaries/International-GCSE/2301-intgcse-9-1-notional-component-grade-boundaries-v1.pdf, Grade Boundaries - January 2023 - International GCSE (9-1), /content/dam/pdf/Support/Grade-boundaries/International-GCSE/2301-intgcse-9-1-subject-grade-boundaries-v1.pdf, Grade Boundaries - January 2023 - Project Qualifications, /content/dam/pdf/Support/Grade-boundaries/Project-qualifications/2301-project-subject-grade-boundaries-v1.pdf, Grade Boundaries - November 2022 - GCSE (9-1), /content/dam/pdf/Support/Grade-boundaries/GCSE/2211-gcse-9-1-subject-grade-boundaries-v1.pdf, Notional Component Grade Boundaries - November 2022 - GCSE (9-1), /content/dam/pdf/Support/Grade-boundaries/GCSE/2211-gcse-9-1-notional-component-grade-boundaries-v3.pdf, Grade Boundaries - October 2022 - International A Level, /content/dam/pdf/Support/Grade-boundaries/International-A-level/2210-ial-subject-grade-boundaries-v1.pdf, Grade Boundaries - October 2022 - International Primary and Lower Secondary Curriculum, /content/dam/pdf/Support/Grade-boundaries/International-Primary-Lower-and-Secondary-Curriculum/2210-ipls-subject-grade-boundaries-v1.pdf, /content/dam/pdf/Support/Grade-boundaries/LCCI/lcci-grade-boundaries-july-2022.pdf, /content/dam/pdf/Support/Grade-boundaries/LCCI/lcci-grade-boundaries-june-2022.pdf, /content/dam/pdf/Support/Grade-boundaries/A-level/2206-gce-subject-grade-boundaries.pdf, Notional Component Grade Boundaries - June 2022 - GCE, /content/dam/pdf/Support/Grade-boundaries/A-level/2206-gce-notional-component-grade-boundaries.pdf, Grade Boundaries - June 2022 - Advanced Extension Award, /content/dam/pdf/Support/Grade-boundaries/Advanced-Extension-Award/2206-aea-subject-grade-boundaries.pdf, Grade Boundaries - June 2022 - BTEC Firsts, /content/dam/pdf/Support/Grade-boundaries/BTEC-Firsts/btec-grade-boundaries-l2-firsts-june-2022.pdf, Grade Boundaries - June 2022 - BTEC Nationals, /content/dam/pdf/Support/Grade-boundaries/BTEC-Nationals/btec-grade-boundaries-june-2022-l3-nationals.pdf, Grade Boundaries - June 2022 - BTEC Level 2 Technicals, /content/dam/pdf/Support/Grade-boundaries/BTEC-Level-2-Technicals/btec-technicals-grade-boundaries-june-2022.pdf, Grade Boundaries - June 2022 - BTEC Tech Awards, /content/dam/pdf/Support/Grade-boundaries/btec-tech-awards/btec-grade-boundaries-l2-tech-awards-june-2022.pdf, Grade Boundaries - June 2022 - Edexcel Award pass marks, /content/dam/pdf/Support/Grade-boundaries/Edexcel-Award/2206-level-2-3-edexcel-awards-subject-grade-boundaries.pdf, Grade Boundaries - June 2022 - International GCSE (9-1), /content/dam/pdf/Support/Grade-boundaries/International-GCSE/2206-intgcse-9-1-subject-grade-boundaries.pdf, /content/dam/pdf/Support/Grade-boundaries/International-GCSE/2206-intgcse-9-1-notional-component-grade-boundaries.pdf, Grade Boundaries - June 2022 - Mathematics in Context, /content/dam/pdf/Support/Grade-boundaries/core-maths/2206-l3c-subject-grade-boundaries.pdf, Notional Component Grade Boundaries - June 2022 - Mathematics in Context, /content/dam/pdf/Support/Grade-boundaries/core-maths/2206-l3c-notional-component-grade-boundaries.pdf, Grade Boundaries - June 2022 - Project Qualifications, /content/dam/pdf/Support/Grade-boundaries/Project-qualifications/2206-level-2-3-project-subject-grade-boundaries.pdf, Grade Boundaries - Summer 2022 - T Levels, /content/dam/pdf/Support/Grade-boundaries/t-levels/t-level-grade-boundaries-summer-2022.pdf, {{translateWord(navigationJson.covidTitle)}}, {{translateWord(navigationJson.subjectTitle)}}, {{translateWord(navigationJson.qualificationTitle)}}, {{navigationJson.qualificationcolumn1CTAtext}}, {{navigationJson.qualificationcolumn2CTAtext}}, {{navigationJson.qualificationcolumn3CTAtext}}, {{translateWord(navigationJson.supportTitle)}}, {{translateWord(navigationJson.aboutusTitle)}}, {{translateWord(navigationJson.contactusTitle)}}, Alcester Academy and North Bromsgrove High School, BTEC (Levels 1-3), Employability and Skills, Higher Education, Higher Technical Qualifications (HTQs) and LCCI, View grade boundaries from the most recent exam series. Ratio's. 30 terms. 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. 1923 0 obj Before a person can make a budget they must know __________. 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 . endobj perception of where the grade boundaries may li e. All marks on the mark scheme should be used appropri atel y. Section B the part with all formulas is 2/3 of the marks for the WHOLE paper. To record this periods earning of prior unearned revenue} & \text{F. To record an accrued revenue. Revenue. This also applies to organisation structure and aims and objectives. . When a person decides to save money, the first thing they should do is _________________. Unit results for BTEC National qualifications are reported on a 5 point grade scale: Distinction (D), Merit (M), Pass (P), Near Pass (N) and Unclassified (U). ju dgement/judgements being made. 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 balance sheets for Fantasy Football for 2018 and 2017 are provided below. It is not acceptable to download these from a company website. have access to the annotated research and the two pages of prepared notes to allow them to complete the task, have access to permitted software or applications, offline Office applications, such as Microsoft Office, Open Office, etc, any other offline applications, such as project planning software, calculators, spell-checkers, etc. You may prefer to write your own assignment briefs. 2 most common time frames for interest to be compounded? 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). IxP'Prd,E00 sgT31:/RcJ{Eg6i{ There is also a sister page to support you in the delivery of this qualification. <>>> hbbd```b``d"""``H,\6D IFQ[,,[V/"%Ml% K&F  _6 products may be more suited to their needs (1), Accessibility to a range of services for those without devices or the Actual Sales - Break-Even Level of Output. Christopher_RHEAD. 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 PESTLE is the situational analysis referred to in the unit content C1, so this is what learners should carry out on the two countries they have chosen for C.M3. 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 information. . 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. Students also viewed Exam 10 October, questions and answers M$ P| yI/$I/P JmX$) X=K$}* 7J-G oIg,D o|$*I M$=] \text{Cash} & \text{$\$ 208,000$} & \text{$\$ 262,200$}\\ Fixed/constant- same pay each pay period (salary). Unit 3: Personal And Business Finance . 2. 100 marks available You will get a calculator EVERY mark counts!! 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. Aryan_Dawar. Sales Revenue - Cost of Goods Sold. The features, outlined in the unit content, should be considered in equal measure in each business. B. \quad & \text{Interest Payable} \ldots\ldots\ldots & \quad & \text{1,000}\\ <>/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 Torecordreceiptofunearnedrevenue. 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. Business btec Unit 3. \text{Inventory} & \text{$1,900,000$} & \text{$1,349,000$}\\ \quad & \text{Interest Revenue} \ldots\ldots\ldots & \quad & \text{5,000}\\ . <> Displays a balanced evaluation demonstrating an awareness of Marks will be awarded towards the top or bottom of that band depending on how 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.