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! Secret Trusts - Perfect Essay What Is It? The BTEC Centre Guides below provide guidance on how to run the assessment of internally assessed units. endobj Torecordthisperiodsuseofaprepaidexpense.H. 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. All the marks on the mark scheme are designed to be awarded. 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. If a learner has more than one attempt, then the best result will be used for qualification grading. 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. \text{Total liabilities and stockholders' equity} & \underline{\underline{\$ 4,000,000}} & \underline{\underline{\$ 3,800,000}}\\ Learners need to carry out situational analysis and to consider cultural differences. endobj \text{Income tax payable} & \text{$76,000$} & \text{$76,000$}\\ 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 Express each amount as a percentage of total assets for that year. Torecordreceiptofanaccruedrevenue.E. wEleet+MHEp2!EtQFbp(]zDUVQF:zDr}U.XihBv)H~/dKo"H3E}r1HUUVPFQ.qFIO8#PFt*e)Z=SBg:kI D7$_)wmhz8[5 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. One of the businesses used for Learning Aim A and B can be used or a different business altogether. allows the business to plan finances / budget (1), Long-term source of finance (1) which allows the BTEC National Business Grade Booster (2023) | tutor2u 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. schemes. Comparing multiple options, unit sizes/prices, looking for deals, buying in bulk, Gross-hourly: rate times wage Mark <>stream The important thing is individual learners have the opportunity to do justice to the unit requirements and produce their own evidence. UNDERSTAND THE IMPORTANCE OF MANAGING PERSONAL FINANCE Planning expenditure, common principles to be considered in planning personal finances: to avoid getting into debt to control costs avoid legal action and/or repossession remain solvent maintain a good credit rating avoid bankruptcy to manage money to fund purchases generate income and savings set financial targets and goals provide insurance against loss or illness counter the effects of inflation.
unit 3: personal and business finance grade boundaries