4 Award one mark for identification of an advantage to the consumer of using a 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. Legislation that regulates working conditions and rules in the United States. 9 Award one mark for identification of an advantage for the Meaning may be conveyed but in a non-specialist way; Education Limited 2015, Level Mark Award up to 6 marks. G)mrQ. The unit consolidates understanding and skills to enable the interpretation of data, and formulation of decisions and solutions to given complex business problems. \quad & \text{Prepaid Insurance} \ldots\ldots\ldots & \quad & \text{4,200}\\ Something like a school/college special event for other students to raise money for charity would be appropriate. They should use at least two of these techniques for the award of C.P5 and more for the higher criteria. Evaluate external sources of finance which Wattam Grove could use to fund Option 2 - Camping and caravan site. Torecordthisperiodsearningofpriorunearnedrevenue. 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. 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). Outlook - free personal email and calendar from Microsoft. 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. \quad & \text{Professional Fees Earned} \ldots\ldots\ldots & \quad & \text{3,000}\\ 35 : 22 . feature), No claims discount is protected may save money in the future if Gives a more realistic valuation of the vehicles as they lose 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 . endstream clarity and fails to provide an adequate answer to the question. Learning Aim E should use a named, selected business which is trading internationally, and looks at strategic and operational issues. in response to the assessment focus/objective and will be modified according to how Courtesy car is an additional cost (but might not want to have this This should be borne in mind when using past papers for mocks. Aryan_Dawar. Learners records and diaries/logs of the planning process are expected in their evidence. 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. <> & \text{Rent Expense} \ldots\ldots\ldots & \text{2,000}\\ arguments/pros and cons in context. Comparing multiple options, unit sizes/prices, looking for deals, buying in bulk, Gross-hourly: rate times wage Business enterprise Level 3 63% (8) 14. Learners must produce their own job description, person specification and advert. Personal finance involves the understanding of why money is important and how managing money can help prevent future financial difficulties. 0 Waiting to buy something that you want until you can truly afford it. \quad & \text{Salaries Payable} \ldots\ldots\ldots & \quad & \text{6,000}\\ costs as the vehicles age. 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 on the net book value at the end of the previous year, It is harder to work out what percentage to use to continue, Appropriate for a small company with cash flow issues, Short- term lease of two years means Mike can return the machine (after MANAGING PERSONAL FINANCE Suitability of different financial products and services against individual needs. endobj Indicati ve content BTEC National Business Unit 3 Resources These fantastic resources are designed to help students maximise their performance in 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. These two videos provide a useful introduction to BTEC external assessment and how best to prepare learners for them. For this unit it is expected that learners will work in small groups. \text{Cash} & \text{$\$ 208,000$} & \text{$\$ 262,200$}\\ appropriate specialist te chnical language. BTEC National Certificate in Business (180 GLH) The balance sheets for Fantasy Football for 2018 and 2017 are provided below. always award full marks if deserved, i. if the answer matches the mark scheme. \text{Long-term assets:} & \text{ } & \text{ }\\ Sales Revenue - Cost of Goods Sold. Show these changes in your TorecordthisperiodsearningofpriorunearnedrevenueC. COMMUNICATING WITH CUSTOMERS Methods of interacting with customers, advantages and disadvantages: branch online banking telephone banking mobile banking postal banking. 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 were: Training, 50%; Software, 30%; Repair Contracts, 15%; Hardware, 5%. When setting a budget, you must manage your _________ and limit your ___________. \text{\_\_\_\_\_\_11.} Personal and Business Finance. View grade boundaries from the most recent exam series Find all available grade boundaries Step 1. Generic organisation charts and generic coverage of what different departments do is not appropriate. specialist technical language consistently. lacks clarity and fails to p rovi de an adequate answer to the question. In Unit 7 learners draw together learning from previous units in the qualification. Evaluation is presented leading to conclusions but some may be Businesses like Coca Cola, Apple, Nike are not good choices for this unit. \text{Interest payable} & \text{0} & \text{$3,800$}\\ Net-Actual money you are paid (with deductions), -Transactional Explain what giving back and paying forward are and explain the difference between the two. Money you have earned (may or may not be physical). (DUH1q-}"w|2}> ,T*'+` h9s A raw mark is the actual mark awarded by our examiners for an assessment. \text{Current assets:} & \text{ } & \text{ }\\ minor. Before a person can make a budget they must know __________. Revenue. 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. Whilst Yasin is cancelling the insurance Shirevale could make a 6 \text{Supplies} & \text{$124,000$} & \text{$87,400$}\\ 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 . 7. (2nd essay question). Gross Profit. All of the grade boundaries for the BTEC externally assessed units are given in raw marks. 12 ; Merit 15 20 . 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 perception of where the grade boundaries may li e. All marks on the mark scheme should be used appropri atel y. Contains: Revision checklist. 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. Business markets tend to be less well done as these concepts are more difficult to understand and apply to an actual business. Budget 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. 100 marks available \end{matrix} We dont want comprehensive coverage of one business with sparse coverage in the contrasting business. 1. 3. Emma_Upson. 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. Attainable Torecordpaymentofaprepaidexpense.I. <> Giving back- returning help or service to someone who gave you help or service You may prefer to write your own assignment briefs. they have evidenced each of the descriptor bullet points. h-eM{'0N:9 ,3,_ r4/v \`_B o+y7]b&Ym1i9{q. 31588H - Unit . hb```,l@( 4679 0 obj The internal and external environment is usually done well and learners can readily use situational analysis techniques. Gg. beebusinessbee. cle ar and uses specialist te chnical language consistently. 1. Learners notes must not include any attempt to pre-prepare marketing plans, budgets or timelines. <>/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>> Torecordthisperiodsdepreciationexpense.\begin{matrix} We want to see a valid analysis of key factors, including awareness of the importance of contingency planning for C.M3. . Unit 3: Personal and Business FinanceThe exam. CONSUMER PROTECTION IN RELATION TO PERSONAL FINANCE Function, role and responsibilities of: Financial Conduct Authority (FCA) Financial Ombudsmen Service (FOS) Financial Services Compensation Scheme (FSCS) legislation consumer credit. Supply and demand curves are illustrative, but they should be clearly explained, and referenced. During the staging of the event, learners must show that they have played a part in managing aspects of the day. Evidence of application demonstrating linkages and unit 3: personal and business finance grade boundaries. <> 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. products may be more suited to their needs (1), Accessibility to a range of services for those without devices or the Resources - Unit 3: Personal and Business Finance ( Exam) 2019 papers and mark schemes : January 20 paper and mark scheme : New format exam 80marks : PLCs Personal and Business finance : Unit 3 Powerpoint notes : Learning Aim E Workbook.docx : Learning Aim F.docx : Practice questions Business Finance.docx: Examiners should also be prepared to award zero marks if the learners response is Torecordpaymentofanaccruedexpense.G. conducting banking in ways other than face to face (1), Can get face to face which may be an advantage to some consumers Prepare a vertical analysis of Fantasy Football's 2018 and 2017 balance sheets. Evaluation likely to consist of basic description of There are four externally assessed units and they are either of 90 or 120 GLH. The contrast is in the features: ownership and liability, or size, or sector or purpose. H.Torecordpaymentofaprepaidexpense. startxref In this unit you willl sit a 2 hour written exam in this unit. \quad & \text{Accounts Receivable (from consulting)} \ldots\ldots\ldots & \quad & \text{9,000}\\ Explain why instant gratification is often temporarily joyful but costly in the future. 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. Secret Trusts - Perfect Essay What Is It? It would be better if the businesses were not in the same industry as this would give learners more scope to investigate the differences. 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. hbbd```b``d"""``H,\6D IFQ[,,[V/"%Ml% K&F _6 What if she is made redundant / furloughed? I. Part B is a three-hour supervised assessment taken on the timetabled date set by Pearson. 1896 0 obj \quad & \text{Interest Receivable } \ldots\ldots\ldots & \quad & \text{2,000}\\ Learners will consider business situations/scenarios where they are required to select and use appropriate evidence from several sources and support their arguments. Select a qualification BTEC Nationals Change Step 2. 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. It is a practical unit which requires learners to produce their own recruitment documents and participate in two interviews. BTEC BUSINESS Unit 3: Personal and Business Finance. %%EOF 2. information. 9. Contribution Per Unit x Margin of Safety. . Displays a well-developed, balanced and coherent evaluation, Meaning may be conveyed but in a non-specialist way; respon se These plans must not be submitted as part of the learners work and will not be marked by examiners. 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. Different types of borrowing, features, advantages and disadvantages: overdraft personal loans hire purchase mortgages credit cards payday loans. They consist of two parts: indicati ve content and levels-based descriptors. in the band that best describes their answer. 100 marks available You will get a calculator EVERY mark counts!! UNIT 3 personal and business finance. this document for how to a pply levelsbased m ark
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