were: Training, 50%; Software, 30%; Repair Contracts, 15%; Hardware, 5%. Comparing multiple options, unit sizes/prices, looking for deals, buying in bulk, Gross-hourly: rate times wage Margin of Safety. UNIT 3 personal and business finance. Net-Actual money you are paid (with deductions), -Transactional endobj <>stream
View more University Ursuline College Course Bioethics (PH 260) Uploaded by sarah her Academic year2015/2016 Helpful? Evidences thorough appli cation leading to balanced evalu ation 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. 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. Learners will also consider the factors that influence the implementation of these strategies. <> Learners could therefore choose a different business to ones already used, or use one already researched for the other LAs. All the marks on the mark scheme are designed to be awarded. \text{\_\_\_\_\_\_4.} The important thing is individual learners have the opportunity to do justice to the unit requirements and produce their own evidence. Levels-based descriptors articulate the skills that a learner is likely to demonstrate in She. 1. (a) What are the most recognized causes of poverty? consist of basic description of information. assertions rather than supported by evidence. -Does not accrue interest 13. {CM5W@I9}{? 1|1gQ6r/E={Lv|/{l]|D"ql:Ort0t00ht0xt0H40Jt00v0vt0Dt40pt4)8XZ( f$A!AHs 1? Which is more important to budgeting: income or cash flows? TorecordthisperiodsearningofpriorunearnedrevenueC. \text{\_\_\_\_\_\_ 3.} Torecordreceiptofunearnedrevenue.E. business of using a debenture as a source of income and one Car audio & video Home audio TVs & video Headphones & wireless Marine Smart home. Revenue income: cash sales credit sales rent received commission received interest received discount received. unit 3: personal and business finance grade boundaries. 0
Z,-lq}r Q 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. Paying forward- idea of taking things you have learned and been given and passing it on to another person 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. Torecordpaymentofanaccruedexpense.G. }\\ Learners can use Part A for familiarization but are not permitted to make notes to take with them into Part B. Generic organisation charts and generic coverage of what different departments do is not appropriate. \text{\_\_\_\_\_\_9.} 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 . It means that the performance and asking/answering of analytical questions can be authenticated by the internal verifier and standards verifier. Actual Sales - Break-Even Level of Output, Opening Inventory + Purchases - Closing Inventory, Non-Current Liabilities + Net Current Assets - Long Term Liabilities, Current Assets - Inventory/ Current Liabilities, Average Inventory Turnover/Cost of Sales x 365, BTEC Level 3 Business: Unit 3 - Personal & Bu, BTEC Business Revision Unit 3 - Personal and, BTEC Business- Unit 3 Finance revision exam, Business Unit 3 Personal and Business Finance, Fundamentals of Financial Management, Concise Edition, Don Herrmann, J. David Spiceland, Wayne Thomas, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Charles T. Horngren, Madhav V Rajan, Srikant M. Datar, LIFE Exam- Chapter 3, Life Insurance Policies, Psych Mod 62- Dynamics of intelligence+ Genet. Displays a well-developed and balanced discussion, Revenue. & \text{Interest Expense} \ldots\ldots\ldots & \text{1,000}\\ Examiners must mark the first learner \underline{\text{Assets}} & \text{ } & \text{ }\\ Measurable The same business can be used for cultural aspects and adapting processes and products for different markets for Learning Aim E. For LAs C&D learners need to select a business which could consider operating in two different countries. Demonstrates the use of logical reasoning, clarity, and 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. <. 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. endobj
Flower; Graeme Henderson), Electric Machinery Fundamentals (Chapman Stephen J. Examiners should also be prepared to award zero marks if the learners response is 128 Can get more personalised service / better advice (1) because some View grade boundaries from the most recent exam series Find all available grade boundaries Step 1. endobj
Marks will be awarded towards the top or bottom of that band depending on how products may be more suited to their needs (1), Accessibility to a range of services for those without devices or the The paper will be marked out of 100 with 2 sections. the consumer may receive more interest/pay lower fees (1), Lower interest rates means paying less interest on existing debt. <>/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
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Torecordthisperiodsuseofaprepaidexpense.H. 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. \text{\_\_\_\_\_\_6.} June 10, 2022 . x+q!RtPJZM B/ All marks on the marking grid should be used appropriately. endobj & \text{Unearned Professional Fees} \ldots\ldots\ldots & \text{3,000}\\ 1895 0 obj \text{Retained earnings} & \underline{2,209,400} & \underline{2,044,400}\\ A financial plan to effectively and efficiently use a person's limited resources. If you buy the item instantly you would be happy for having it, but it is costly to pay for it in the future. Includes repair costs so peace of mind knowing that production should \text{Current liabilities:} & \text{ } & \text{ }\\ 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. \text{Supplies} & \text{$124,000$} & \text{$87,400$}\\ There is also a sister page to support you in the delivery of this qualification. \quad & \text{I. Level 0 0 No rewardable material. \underline{\text{Liabilities and Stockholders' Equity}} & \text{ } & \text{ }\\ \text{Stockholders' equity:} & \text{ } & \text{ }\\ need to worry about increased interest charges (1), Only interest is paid until the debenture is redeemed (1) Part S is completed on a computer. 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. Demonstrates the use of logical reasoning, clarity, and appropriate 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. 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. rel ation to the assessment outcomes being targeted by the question. lacks clarity and fails to p rovi de an adequate answer to the question. Examiners should mark according to the mark scheme, not according to their . MAXIMUM MARK 60. 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. hVmo6+>$@Im@
M(AMG-e~V,;Z+-'sB Tr'A@ Torecordthisperiodsuseofaprepaidexpense.D. 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. hb```,l@( 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. endstream
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hb```9, AI@5 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} 1820 0 obj
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hb```df B,`q( 1uBHu{9.#[(` Recent flashcard sets. costs if machinery breaks down. 129 terms. Learners need to understand the financial decisions they will need to take throughout life. In this unit learners examine how businesses adapt their approaches to management in response to challenges in their environment. What is the formula for calculating simple interest? But, remember group evidence is not acceptable, and learners must produce their own, individual evidence of their contribution and participation. There are four externally assessed units and they are either of 90 or 120 GLH. not worthy of credit according to the mark scheme. 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 BTEC National Certificate in Business (180 GLH) On a circle graph , how many degrees should be used to show the sales of each department? We provide an Assignment Checking Service which offers you feedback on your assignment briefs. I. %%EOF Businesses like Coca Cola, Apple, Nike are not good choices for this unit. 50 terms. Unit 3: Personal and Business Finance - sample mark scheme General marking guidance All learners must receive the same treatment. These plans must not be submitted as part of the learners work and will not be marked by examiners. Different types of borrowing, features, advantages and disadvantages: overdraft personal loans hire purchase mortgages credit cards payday loans. Budget 5. Importantly, it also means the learners can listen/see their performance which will help them review their performance for Learning Aim C. If this isnt possible, then a fully detailed and individual Record of Activity should support the achievement of criteria and peers can complete a Witness Statement. Unit 3: Personal And Business Finance . -Few fees The cost (in dollars) of producing these units is given by the joint-cost function C(x,y)=x2+xy+y2C(x, y)=x^2+x y+y^2C(x,y)=x2+xy+y2. 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. w``yCKd+)>Y \text{Less: Accumulated depreciation} & \underline{(380,000)} & \underline{(190,000)}\\ Indicati ve content \quad & \text{Prepaid Rent} \ldots\ldots\ldots & \quad & \text{2,000}\\ 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. unit 3: personal and business finance grade boundaries Posted on June 22, 2022by Mark. \text{\_\_\_\_\_\_ 12.} competing arguments, le ading to conclusions. Learners must be re warded for what Provides little evidence of application and links between relevant At no more . 4690 0 obj Different types of banks/ financial institutions? How does Ernies producer surplus change? \text{\_\_\_\_\_\_8.} demonstrating a thorough grasp of competing Compliance (preventing fraud, compliance with law and regulations). startxref Make you wealthy, The number of times interest is calculated against principle, The amount of money you owe someone or that you have saved. 1833 0 obj
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BaakliniC10019. feature), No claims discount is protected may save money in the future if Xaxie2000. Torecordthisperiodsdepreciationexpense.\begin{matrix} Pearson BTEC Level 3 Nationals in Business Unit 3 19. Torecordanaccruedrevenue.C. 1. They should use at least two of these techniques for the award of C.P5 and more for the higher criteria.