unit 3: personal and business finance grade boundaries

arguments/pros and cons in context. IxP'Prd,E00 sgT31:/RcJ{Eg6i{ 128 7. UNDERSTAND THE PURPOSE OF ACCOUNTING Purpose of accounting Recording transactions. & \text{H. To record payment of a prepaid expense. 35 : 22 . Budget 1820 0 obj <> endobj the consumer may receive more interest/pay lower fees (1), Lower interest rates means paying less interest on existing debt. Finance exam 2017 (edited 4 years ago) 0. . Torecordreceiptofunearnedrevenue. %PDF-1.7 % Businesses like Coca Cola, Apple, Nike are not good choices for this unit. 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 . Net-Actual money you are paid (with deductions), -Transactional Examiners should mark according to the mark scheme, not according to their products may be more suited to their needs (1), Accessibility to a range of services for those without devices or the Marks will be awarded towards the top or bottom of that band depending on how Torecordpaymentofanaccruedexpense.G. The chosen businesses should be two contrasting businesses which operate in different markets (developed, emerging or less developed). 14 terms. These two videos provide a useful introduction to BTEC external assessment and how best to prepare learners for them. Torecordpaymentofaprepaidexpense.I. Examiners should Learners should note interview responses when in the interviewer role and make a decision on whether to recruit. supplier trying to get him to switch. Learning Aim E should use a named, selected business which is trading internationally, and looks at strategic and operational issues. Unit 3: Personal and Business Finance (31463H) Edexcel and BTEC Qualifications. ju dgement/judgements being made. Gross Profit. Torecordreceiptofanaccruedrevenue.E. 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. 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. A small sole trader might not allow learners the opportunity to do justice to the requirements of the assessment criteria - for example, complex relationships with stakeholders, organisation structure and functional areas might be limited with a sole trader. 2 0 obj 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. We expect clear explanations of market theory, how the market will influence the chosen business when making pricing and output decisions. unit 3: personal and business finance grade boundaries 03 Jun. The unit consolidates understanding and skills to enable the interpretation of data, and formulation of decisions and solutions to given complex business problems. Secret Trusts - Perfect Essay What Is It? %%EOF \text{Total assets} & \underline{\underline{\$ 4,000,000}} & \underline{\underline{\$ 3,800,000}}\\ 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. Giving back- returning help or service to someone who gave you help or service & \text{E. To record an accrued expense. Evidences the weighing up of competing arguments/pros and \text{B. re sponse l acks clarity and fails to provide an adequate answer Personal finance involves the understanding of why money is important and how managing money can help prevent future financial difficulties. Ratio's. 30 terms. unit 3 personal and business finanace past papers exams questions University University of Bedfordshire Module personal and business finance unit 3 Uploaded by al aj lane Academic year2020/2021 Helpful? perception of where the grade boundaries may lie. 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. D.M4 is not a comparison but an analysis - so detailed examination of different aspects and the relationship between the different factors. 1 0 obj Personal and business finance exam unit 3 watch this thread 5 years ago Personal and business finance exam unit 3 Show original post Scroll to see replies 1 2 3 4 5 Next Reply 20 5 years ago A ejscan EllieRoissetter I have made notes on the material which if learned can be easy to apply to questions. hbbd```b```rd"YR@d:iyH2e]rKbL@"@}4$3 ` J ! 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. <>>> Learners need to carry out situational analysis and to consider cultural differences. repair costs), Machine is owned and is an asset and shown on the Statement of Financial 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. 12 ; Merit 15 20 . Learners notes can include notes about the provided research. <. Our Assessment plan for 2017-18 for the Level 1 / 2 BTEC first Award in Business Learners have 4 hours a week Units chosen are: Unit 1 - Enterprise in the Business World Unit 2 - Finance for Business -External Exam unit Unit 7 - Providing Business Support Unit 8 - Recruitment, Selection and Employment First year delivering Level 2 after a break of 2 years - might deliver unit 1 and 7 together . %PDF-1.5 It would be better if the businesses were not in the same industry as this would give learners more scope to investigate the differences. Evidences thorough application leading to a balanced analysis 100 marks available PDF January 2018 31463H Personal and Business Finance for how to apply levels-based mark schemes*. 0 Gives a more realistic valuation of the vehicles as they lose \text{\_\_\_\_\_\_8.} interrelationships between factors leading to a 1896 0 obj Ashridge, Level Mark Award up to 12 marks. It means that the performance and asking/answering of analytical questions can be authenticated by the internal verifier and standards verifier. & \text{Prepaid Rent} \ldots\ldots\ldots & \text{4,500}\\ Explain what giving back and paying forward are and explain the difference between the two. 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} 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. The assignment is a distinct activity completed independently by learners, and is separate from the teaching and learning for that learning aim or aims. 6 Where some judgement is required, mark schemes will provi de the principles by costs as the vehicles age. 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. Summer 2023 Series: English Language A2 Unit 3 Examination: 17 Aug: AS/A Level Results Day : Get the latest subject updates BTEC Level 3 Business: Unit 3 Personal & Business Finance A1 Function 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. They will use market research data and other information to make recommendations about the type of marketing campaign that a business should undertake. Pearson BTEC Level 3 Nationals in Business - Unit 3 - January 2020 . endobj 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 31463 MARK Scheme JAN 2021 - Pearson BTEC Level 3 Nationals in Business What is the difference between fixed/constant income and variable income? in response to the assessment focus/objective and will be modified according to how When setting a budget, you must manage your _________ and limit your ___________. This also applies to organisation structure and aims and objectives. Paying forward- idea of taking things you have learned and been given and passing it on to another person This unit includes aspects of both personal and business finance. Xaxie2000. endobj TorecordthisperiodsearningofpriorunearnedrevenueC. 4. SCORES and Grade POINTS TARGET! This full unit covers all learning aims for Unit 3: Personal and Business Finance. to supported conclusions. 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 }\\ PDF Grade Boundaries - Edexcel are minor. endstream . INCOME TYPES OF INCOME Capital income: loan mortgages shares owners capital debentures. For example, if the grade boundary for a Distinction is 29, then 29 is the minimum mark atwhich a Distinction can be achieved. specialist technical language consistently. \text{\_\_\_\_\_\_ 12.} Part A introduces learners to the context and is released before the Part B is taken. The features, outlined in the unit content, should be considered in equal measure in each business. & \text{Interest Expense} \ldots\ldots\ldots & \text{1,000}\\ Issue 3 April 2017 Pearson Education Limited 2015, Question 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. \underline{\text{Assets}} & \text{ } & \text{ }\\ 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 \quad & \text{Salaries Payable} \ldots\ldots\ldots & \quad & \text{6,000}\\ interrelationships between factors leading to a supported {{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. Provides lit tle evidence of weighing up of competing business, Harder to calculate than the straight line method as you Different types of banks/ financial institutions? How does Ernies producer surplus change? were: Training, 50%; Software, 30%; Repair Contracts, 15%; Hardware, 5%. Learners must not have access to the Internet, email, or any other resource. If a learner has more than one attempt, then the best result will be used for qualification grading. Actual Sales - Break-Even Level of Output. Tutor 2 u. net. unit 3: personal and business finance grade boundaries 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. Learners will also consider the factors that influence the implementation of these strategies. Personal Finance Unit 3 Test Flashcards | Quizlet 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. So for LA C, the learners should be aiming for C.D2 where they are recommending one country for a business to operate in. Generic organisation charts and generic coverage of what different departments do is not appropriate. -Accrues interest 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 Attainable Prevents overstating the vehicles value so would comply with Wtt Yd3 V7NFyU4?' `A{I/mfXD %UR,+D}ABQy] 1,[L"K LkB 39 : 25 . 3. 80 : 48 . Unit 3 Jan 2020 Exam - unit 3 personal and business finanace past papers exams questions, Copyright 2023 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01, Please check the examination details below bef, Public law (Mark Elliot and Robert Thomas), Electric Machinery Fundamentals (Chapman Stephen J. }\\ To record this periods depreciation expense. This success relies on understanding what money is. PPTX Business - sjhcsc.co.uk Gracen9111. Conclusions may be p resented, but are li kely to be generic . 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. 10. Learners have to plan and stage the event to showcase their organisational and management skills. \quad & \text{I. All of the forms required for assessment and verification can be downloaded from the web site. 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. 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. 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. 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. Waiting to buy something that you want until you can truly afford it. <> \end{matrix} <>/Filter/FlateDecode/ID[<77D1072CAEB1B2110A00F08B18E6FD7F>]/Index[1895 29]/Info 1894 0 R/Length 73/Prev 591381/Root 1896 0 R/Size 1924/Type/XRef/W[1 3 1]>>stream It should be a job realistic for someone following a National in Business, so a managerial position may be aspirational, but it isnt suitable. 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. 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. Unit 3: Personal and Business FinanceThe exam. Unit 2: Finance for Business BTEC National Certificate in Business (180 GLH) Learners are permitted to resit external assessments twice during their programme. 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. View resources Resource collection endstream Logical reasoning evidenced throughout response which is 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) Part B is a three-hour supervised assessment taken on the timetabled date set by Pearson. Business enterprise Level 3 100% (1) 10. 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. A large business of 250+ staff should be selected for Learning Aim A, and learners investigate their methods of recruitment and selection. (a) What are the most recognized causes of poverty? stream Personal and business finance exam unit 3 - The Student Room In this pack you will find PowerPoints (with tasks including practice exam questions), templates and handouts. 5 years ago. Evidence of application demonstrating some linkages and MAXIMUM MARK 60. -Used frequently 11. These plans must not be submitted as part of the learners work and will not be marked by examiners. learners response, the team le ader must be consulte d. Crossed-out work should be marked UNLESS the learner has replaced it with an <>stream Evaluation likely to consist of basic description of Measuring performance. Prepare a vertical analysis of Fantasy Football's 2018 and 2017 balance sheets. MANAGING PERSONAL FINANCE Suitability of different financial products and services against individual needs. 129 terms. LEVEL 3 CAMBRIDGE TECHNICAL IN BUSINESS Unit 3: Business decisions. AS/A Level Business - WJEC BTEC Business Level 3 Unit 3 Exam - The Student Room 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. Repair costs if needed are not covered by loan so could add to overall accounting concepts, Prevents understating the expense / overstating profits so Torecordreceiptofunearnedrevenue.B. C.Torecordpaymentofanaccruedexpense. lacks clarity and fails to p rovi de an adequate answer to the question. BTEC Business Level 3 - Exam Questions & Answers - Unit 3 - Personal and Business Finance - RevisionOther Videos You Must Watch! specialist technical language. All the marks on the mark scheme are designed to be awarded. PDF Level 3 Cambridge Technicals in Business - Oxford, Cambridge and RSA They should produce a survey for delegates to analyse. Aryan_Dawar. Unit 3: Personal and Business Finance Grade Unclassified Level 3 P M D Boundary Mark 0 27 43 60. \quad & \text{Unearned Professional Fees} \ldots\ldots\ldots & \quad & \text{7,500}\\ 2. endobj -salary: salary divided by pay periods internet or who choose not to use this method (1) reducing anxiety of We set grade boundaries for each grade, at Distinction, Merit and Pass. Part A introduces learners to the context and consists of a research pack released on the afternoon before the Part B is taken. BTEC Business- Unit 3 Finance revision exam Flashcards - Quizlet No claims discount is not protected despite being second most (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 h-eM{'0N:9 ,3,_ r4/v \`_B o+y7]b&Ym1i9{q. unit 3: personal and business finance grade boundaries perception of where the grade boundaries may lie. Business. Learners need to bring out the contrast in the ways they operate internationally. Unit 3 Personal and Business Finance Unit 6 Principles of Management Unit 7 Business Decision Making Grade statistics The grade statistics show the number of learners who completed each qualification each year, and the proportion achieving each grade. Measurable 1847 0 obj <>stream 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. D|Q`]i VH2:n>@s000R {, Points are awarded on a sliding scale between the grade boundaries based on the number of raw marks achieved by each learner. 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. A raw mark is the actual mark awarded by our examiners for an assessment. 6 0 obj She. Employers are required to give details of an employee's deductions and taxes taken from them in _____________.