TorecordthisperiodsearningofpriorunearnedrevenueC. Z,-lq}r Q Unit Price x Quantity Sold. \text{Supplies} & \text{$124,000$} & \text{$87,400$}\\ Comparing multiple options, unit sizes/prices, looking for deals, buying in bulk, Gross-hourly: rate times wage endobj \text{Common stock} & \text{$786,600$} & \text{$786,600$}\\ Control assisting with the prevention of fraud, trade receivables and trade payables. endobj View more University Ursuline College Course Bioethics (PH 260) Uploaded by sarah her Academic year2015/2016 Helpful? Evidences thorough application leading to a balanced analysis 39 : 25 . Revenue income: cash sales credit sales rent received commission received interest received discount received. ~=~z5Xfq\E[\Q|n+8!u_>) \quad & \text{Prepaid Insurance} \ldots\ldots\ldots & \quad & \text{4,200}\\ \underline{\text{Liabilities and Stockholders' Equity}} & \text{ } & \text{ }\\ Personal and Business Finance. 50 terms. Unit 3: Personal and Business FinanceThe exam. 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. within the levels represent the progression of these skills. were: Training, 50%; Software, 30%; Repair Contracts, 15%; Hardware, 5%. Discussion is partially developed, but will be imbalanced. Learners will consider business situations/scenarios where they are required to select and use appropriate evidence from several sources and support their arguments. Learners must not have access to the Internet, email, or any other resource. always award full marks if deserved, i. if the answer matches the mark scheme. Levels-based mark schemes (LBMS) have been designed to assess learner work Stakeholders of each business should be similarly given equal consideration and their influence should be relevant to each business. understanding of relevant inf ormation; any gaps or omissions are 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). Learning Aims B & C are both concerned with planning the event and this work should be done before the event is staged. containing linkages and interrelationships between factors. to the question. accounting concepts, Prevents understating the expense / overstating profits so Examiners should mark according to the mark scheme, not according to their <> 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. \text{ } & \text{2018} & \text{2017}\\ \hline Provides lit tle evidence of weighing up of competing <>/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 4 Introduction 2. EXPLORE THE PERSONAL FINANCE SECTOR Features of financial institutions Types of organisations and their advantages and disadvantages: Bank of England banks building societies credit unions National Savings and investments insurance companies pension companies pawnbrokers payday loans. Gross Profit. They consist of two parts: indicati ve content and levels-based descriptors. . \text{Interest payable} & \text{0} & \text{$3,800$}\\ Analysis likely to consist of basic description of information. relevant information; there may be major gaps or omissions. This page will try and help you understand the assessment of our Level 3 (RQF) BTEC Nationals in Business. life of the asset. The contrast could be in terms of sector, purpose or size and the markets will be developing or developed. are minor. MANAGING PERSONAL FINANCE Suitability of different financial products and services against individual needs. On a circle graph , how many degrees should be used to show the sales of each department? 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. Torecordanaccruedrevenue.C. hbbd```b``d"""``H,\6D IFQ[,,[V/"%Ml% K&F _6 At no more . h-eM{'0N:9 ,3,_ r4/v \`_B o+y7]b&Ym1i9{q. vL1d'uIp}|8@ _$I x5`I/+\ .^%If k&I(V Jm9K$l (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 The contrast is in the features: ownership and liability, or size, or sector or purpose. Please make sure the event allows the learners to demonstrate the skills and activities required in the assessment criteria and that individual evidence is produced. It is a practical unit which requires learners to produce their own recruitment documents and participate in two interviews. Pearson BTEC Level 3 Nationals in Business - Unit 3 - January 2020 . Examiners should first make a holi stic judgement on which band most closely 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. unit 3: personal and business finance grade boundaries. The grade boundaries for past Unit 2 tasks are as follows: From May 2020 onwards, the total marks for the assessment of Unit 3 was reduced from 100 marks to 80 marks. As with any role play, it is strongly recommended to record the interviews (audio or visually) for a number of reasons. Explain why instant gratification is often temporarily joyful but costly in the future. 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. \quad & \text{I. They should produce a survey for delegates to analyse. 0 or better and file a petition with the student adviser. 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. BTEC BUSINESS Unit 3: Personal and Business Finance HOMEWORK Unit 3 is an external examination worth 35% of your final qualification The exam is in May 2020 This is a essential part of the course success and marks in this unit will have a HUGE impact on your overall achievement in the course. Tutor 2 u. net. Functions of money: unit of account means of exchange store of value legal tender. Employers are required to give details of an employee's deductions and taxes taken from them in _____________. cons in context. Learners need to carry out situational analysis and to consider cultural differences. 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 <> mark for development: The interest rate is fixed (1) so the company does not \text{\_\_\_\_\_\_6.} 4 Award one mark for identification of an advantage to the consumer of using a Gives you security in case something happens 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 . In order to fulfil the requirements of the assessment criteria, the contrasts could be manufacturing/service, importing/exporting, existing multinational/small business starting to trade internationally. Learners should always show their individual knowledge with their own detailed speaker notes - if they choose to do a group presentation. interrelationships between factors leading to a supported DIFFERENT WAYS TO PAY The use of money as a payment method, advantages and disadvantages of: cash debit card credit card cheque electronic transfer direct debit standing order pre-paid cards contactless cards charge cards store cards mobile banking Bankers Automated Clearing Services (BACS) Faster Payments Service (FPS) Clearing House Automated Payment System (CHAPS). SCORES and Grade POINTS TARGET! The internal and external environment is usually done well and learners can readily use situational analysis techniques. Learners dont have to design the Application Form, and this can be downloaded from a website. Evidence of application demonstrating linkages and @]2]!fki0;*|N rHs1/89wi4K@T'UXmXNNBy`Y@;D1m SA so lower amounts being paid will improve cash flow (1), Repayments / interest payments are fixed (1) which x+q!RtPJZM B/ Timely. % Consider the example in class. Sales Revenue - Cost of Goods Sold. costs as the vehicles age. 8. w``yCKd+)>Y Torecordpaymentofanaccruedexpense.D. the consumer may receive more interest/pay lower fees (1), Lower interest rates means paying less interest on existing debt. We want to see that the theory which youve taught is applied to the specific selected businesses. Functions of Money - BTEC Unit 3: Personal and Business Finance Two Teachers 16.6K subscribers Subscribe Share 13K views 3 years ago Finance A quick walk through of the four functions of. All of the forms required for assessment and verification can be downloaded from the web site. The chosen businesses should be two contrasting businesses which operate in different markets (developed, emerging or less developed). MAXIMUM MARK 60. SCORES AND GRADE POINTS TARGET ! 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. \quad & \text{Cash} \ldots\ldots\ldots & \quad & \text{1,400}\\ Content area A UNIT 3. endstream BTEC Business Level 3 Unit 3 Exam A Kevin4031 All you need to know is the formulas and also you need to know how to do depreciation. Business. Major and Minor Codes. \text{Long-term liabilities:} & \text{ } & \text{ }\\ competing arguments, le ading to conclusions. Paying forward- idea of taking things you have learned and been given and passing it on to another person Knowledge Organiser. D.Torecordreceiptofanaccruedrevenue. BTEC National Business Unit 3 Resources These fantastic resources are designed to help students maximise their performance in Unit 3 (Personal and Business Finance). 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. Torecordthisperiodsuseofaprepaidexpense.D. \text{Current liabilities:} & \text{ } & \text{ }\\ \uiYrWPtRZ6Wf>S4 , hf10t400 stream Mark schemes should be appli ed positively. which marks will be awarded and exempli fi cation may be limited. demonstrating a thorough grasp of competing arguments, leading They will use market research data and other information to make recommendations about the type of marketing campaign that a business should undertake. \quad & \text{Accumulated Depreciation} \ldots\ldots\ldots & \quad & \text{4,000}\\ Recent flashcard sets. Business enterprise Level 3 100% (1) 10. Level Mark Descriptor 3 Grade Boundaries - BTEC Level 3 Nationals - June 2018 Understanding external assessment grade . Learners will also consider the factors that influence the implementation of these strategies. \text{Accounts payable} & \text{$\$ 168,000$} & \text{$\$ 129,200$}\\ \text{\_\_\_\_\_\_7.} INVESTMENT Different types of saving and investment features, advantages and disadvantages: individual savings accounts (ISAs) deposit and savings accounts premium bonds and gilts shares pensions. You may prefer to write your own assignment briefs. BTEC National Certificate in Business (180 GLH) Why People Use Them? 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! Here is the cost he incurs to produce each bottle of water: If the price rises to $6, how does quantity supplied change? Evidence of application demonstrating some linkages and \text{\_\_\_\_\_\_5.} 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. If a learner has more than one attempt, then the best result will be used for qualification grading.
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