}\\ Fixed/constant- same pay each pay period (salary). Torecordpaymentofanaccruedexpense.G. 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. H.Torecordpaymentofaprepaidexpense. BTEC Business Level 3 - Exam Questions & Answers - Unit 3 - Personal %PDF-1.6 % 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. 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. RISK AND REWARD Risks and rewards of saving versus investment. unit 3: personal and business finance grade boundaries Displays a well-developed and balanced discussion, After the event the success of the event should be reviewed, and the delegates feedback analysed and help them identify improvements. -Used frequently Learners need to carry out situational analysis and to consider cultural differences. So, this unit works best if learners choose contrasting businesses which originate in the UK. \text{Total assets} & \underline{\underline{\$ 4,000,000}} & \underline{\underline{\$ 3,800,000}}\\ BTEC National Business | Livestream | Unit 3 (Jan 2022) Personal Learners can use their time with Part A to annotate the research pack and to prepare up to two sides of A4 notes to take into the Part B supervised assessment. \text{\_\_\_\_\_\_10.} endobj In order to access the ACS, you will need to complete the form using the following options: You can then complete the rest of the online form providing all the information relevant to your case, attach the assignment brief once you have submitted the case. 3. . What should xxx and yyy be to maximize profit? Unit Price x Quantity Sold. 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). Why People Use Them? There are four externally assessed units and they are either of 90 or 120 GLH. Learners must be re warded for what 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 Gross Profit. Prepare a horizontal analysis of Fantasy Football's 2018 balance sheet using 2017 as the base year. %PDF-1.7 % A company produces xxx units of commodity A\mathrm{A}A and yyy units of commodity B\mathrm{B}B. (You can use letters more than once. 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. This unit gives an opportunity to teach learners about Brexit and the impact on trading internationally for UK businesses. 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 . A large business of 250+ staff should be selected for Learning Aim A, and learners investigate their methods of recruitment and selection. within the levels represent the progression of these skills. Business markets tend to be less well done as these concepts are more difficult to understand and apply to an actual business. There is also a sister page to support you in the delivery of this qualification. \quad & \text{Unearned Professional Fees} \ldots\ldots\ldots & \quad & \text{7,500}\\ endobj on the net book value at the end of the previous year, It is harder to work out what percentage to use to 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. Learners dont have to design the Application Form, and this can be downloaded from a website. 4 0 obj number 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. \text{Stockholders' equity:} & \text{ } & \text{ }\\ 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. 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. Personal and Business Finance. BTEC Business unit 3 personal and business finance; watch this thread. Unit 3: Personal and Business Finance Grade Unclassified Level 3 P M D Boundary Mark 0 27 43 60. Whilst Yasin is cancelling the insurance Shirevale could make a 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 schemes should be appli ed positively. depreciate over the assets lifetime, Will produce lower profit figures in the early years in the 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. (c) What combination of personal action and good fortune could help a person rise out of poverty? 200 x (12 x 5) = 12 000 (difference in cost over 5 years) \text{\_\_\_\_\_\_6.} 50 terms. 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. Version: 1 Date: 01/10/15 . PDF January 2018 31463H Personal and Business Finance (. 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 Before a person can make a budget they must know __________. 9 Award one mark for identification of an advantage for the Outlook - free personal email and calendar from Microsoft. 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. Flower; Graeme Henderson), Electric Machinery Fundamentals (Chapman Stephen J. So learning the formulas is important. 1 0 obj 2 0 obj Btec Business Level 3 Personal And Business Finance Exam Past Papers 1895 0 obj A financial plan to effectively and efficiently use a person's limited resources. M$ P| yI/$I/P JmX$) X=K$}* 7J-G oIg,D o|$*I M$=] costs if machinery breaks down. We advise that learners do not choose their own centre as one of the businesses, largely because they are difficult to understand in terms of ownership and liability and learners often make mistakes about this feature. competing arguments, le ading to conclusions. endobj Contains: Revision checklist. Different rows <>/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>> 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? not made a claim, Current provider might not be giving him as good a deal as new Learners can use Part A for familiarization but are not permitted to make notes to take with them into Part B. Because pumping large amounts of water is harder than pumping small amounts, the cost of producing a bottle of water rises as he pumps more. 70 : 54 . & \text{Cash} \ldots\ldots\ldots & \text{9,000}\\ hbbd```b```rd"YR@d:iyH2e]rKbL@"@}4$3 ` J ! they have shown they can do, rather than be penalised for omissions. unit 3: personal and business finance grade boundaries unit 3: . In order to achieve this evaluation they should discuss the effects of the internal, external and competitive environments on the business and assess these effects for C.P4 and C.M3. . perception of where the grade boundaries may lie. So for LA C, the learners should be aiming for C.D2 where they are recommending one country for a business to operate in. Torecordthisperiodsearningofpriorunearnedrevenue. G)mrQ. 31463H Unit 3: Personal and Business Finance 120 96 58 41 24 12 0 31489H Unit 2: Developing a Marketing Campaign 90 70 54 39 24 12 0 Computing GLH Max Mark D M P N U . The same business can be used for cultural aspects and adapting processes and products for different markets for Learning Aim E. For LAs C&D learners need to select a business which could consider operating in two different countries. UNIT 3: PERSONAL AND BUSINESS FINANCE THE EXAM. UNDERSTAND THE IMPORTANCE OF MANAGING PERSONAL FINANCE Planning expenditure, common principles to be considered in planning personal finances: to avoid getting into debt to control costs avoid legal action and/or repossession remain solvent maintain a good credit rating avoid bankruptcy to manage money to fund purchases generate income and savings set financial targets and goals provide insurance against loss or illness counter the effects of inflation. Specific & \text{Salaries Expense} \ldots\ldots\ldots & \text{6,000}\\ Ratio's. 30 terms. x+q!RtPJZM B/ UNDERSTAND THE PURPOSE OF ACCOUNTING Purpose of accounting Recording transactions. Unit 3: Personal and Business Finance Unit 3: Personal And Business Finance . \text{Accounts payable} & \text{$\$ 168,000$} & \text{$\$ 129,200$}\\ Allow you to retire earlier It is not necessary to have one for-profit and one not-for-profit business as required by the previous QCF qualification suite. Gracen9111. Btec business unit 3 - 10 pdf files | Past Papers Archive BTEC Level 3 Business: Unit 3 - Personal & Busines 29 terms.