Observation record
Lime House School Assignment front sheet Learner name Assessors namesA SayerDate issuedCompletion dateSubmitted on4.2.201315.3.2013QualificationUnit number and titleBTEC L3: National Extended / Diploma in BusinessUnit 2: Business ResourcesAssignment titles(1): Smart Business Consultants, (2): Oak Tree Bakeries Limited, & (3): Premium soft drinksIn this assessment, you will have opportunities to provide evidence against the following criteria. Indicate the page numbers where the evidence can be found.Criteria referenceTo achieve the criteria the evidence must show that the student is able to:Task no.Page numbersP1Describe the recruitment documentation used in a selected organisation.12P2 Describe the main employability, personal and communication skills required when applying for a specific job role.2 3P3Describe the main physical and technological resources required in the operation of a selected organisation.33M1Explain how the management of human, physical and technological resources can improve the performance of a selected organisation.43M2Assess the importance of employability, and personal skills in the recruitment and retention of staff in a selected organisation.53D1Evaluate how managing resources and controlling budget costs can improve the performance of a business.64P4Describe sources of internal and external finance for a selected business.74P5Interpret the contents of a trading and profit and loss account and balance sheet for a selected company.84P6Illustrate the financial state of a given business.94M3Interpret the contents of a trading and profit and loss account and balance sheet for a selected company explaining how accounting ratios can be used to monitor the financial performance of the organisation.105D2Evaluate the adequacy of accounting ratios as a means of monitoring the state of the business in a selected organisation, using examples.115P7Illustrate the use of budgets as a means of exercising financial control of a selectedCompany.125M4Analyse the reasons why costs need to be controlled to budget.136D3Evaluate the problems they have identified from unmonitored costs and budgets.146Learner declarationI certify that the work submitted for this assignment is my own and research sources are fully acknowledged.Learner signature: Date: Assignment briefUnit number and titleUnit 2: Business ResourcesQualificationBTEC L3: National Extended / Diploma in BusinessStart dateDeadline for all 1st draftsAssessorsAssignment (1) title:Smart Business ConsultantsAssignment (2) title:Oak Tree Bakeries LimitedAssignment (3) title:Premium soft drinksAssignments updated by:Assignments approved by:The purpose of this assignment is to develop the learners’ knowledge of the range of human, physical, technological and financial resources required in an organisation, and how the management of these resources can impact on business performance.Scenario: Assignment 1: Smart Business Consultants – addressing:Task 1: P1, Task 2: P2, Task 3: P3, Task 4: M1, Task 5: M2, Task 6: D1 & Task 7: P4 You have obtained work experience as an assistant to the Resource Manager of a medium size business consultancy, which provides advice and support to existing and new businesses. Your consultancy has been asked to investigate the recruitment and selection process as well as the main resource areas essential for an organisation to manage and the importance of physical and technological resources and the legal requirements. You will undertake practical research on a selected organisation (examples: Sainsbury’s, Tesco or Barclays) and produce material for an information pack on business resources, which will be useful and interesting for a prospective client.Task submission dates and tutor feed-back/recommended corrective action/s, Task 1 [P1]: Describe the recruitment documentation used in a selected organisation.Using examples from their selected organisation, the recruitment documentation used. The learner/s description should include the followings:Application formCurriculum VitaeJob vacancy advertisementPerson specificationsJob descriptionGrading tips for P1 and P2Describe the recruitment documentation for a specified job role.You can start by identifying a particular job role and obtaining application forms and job description.You then draw up a list of the requirements for the post and describe the attribute they already possess by the end of the courseThis task will enable the learner to achieve P1Task 2: [P2]: Describe the main employability, personal and communication skills required when applying for a specific job role.Describe - the main:Employability,Personal andCommunication skills - required when applying for a specific job role in the learners’ selected organisation.Grading tips for P1 and P2Describe the recruitment documentation for a specified job role.You can start by identifying a particular job role and obtaining application forms and job description.You then draw up a list of the requirements for the post and describe the attribute they already possess by the end of the course This task will enable the learner to achieve P2Task 3: [P3]: Describe the main physical and technological resources required in the operation of a selected organisation.Use a power point presentation to describe the main physical and technological resources required in the operation of your selected organisation. Your presentation should include the followings:Resource usedHow each resource is being maintained/protectedThe importance of each of these resources in achieving organisational goalsGrading tips for P3For P3 you should be aware of the main physical and technological resources required for the operation of the business you have selected.This task will enable the learner to achieve P3Task 4: [M1]: Explain how the management of human, physical and technological resources can improve the performance of a selected organisation.The learners have already examined the human, physical and technological resources for a selected organisation (P1 and P3). Therefore, building on their evidence from Task 1 and Task 2, explain in detail how these resources can improve the organisation’s performance. The learners should support their explanation/s with relevant examples.Grading tipsThe learners should be able to show their understanding of how resources are managed by explaining how good management of human, physical and technological resources can improve the performance of the selected organisation.Use a mind-map to structure the required analysis. Example shown on the following resource: Unit 2 Task 4 M1 LHS.pdfThis task will enable the learner to achieve M1Task 5: [M2]: Assess the importance of employability, and personal skills in the recruitment and retention of staff in a selected organisation.The learner should assess the importance of employability and personal skills to their selected organisation when they are recruiting new staff and attempting to retain existing staff. If is important that they are able to link this assessment to their selected organisation. This may involve the selecting skills that are most appropriate to the needs of the organisation.Grading tips: Use a mind-map to structure the required analysis. Example shown on the following resource: Unit 2 Task 4 M2 LHS.pdfThis task will enable the learner to achieve M2Task 6: [D1]: Evaluate how managing resources and controlling budget costs can improve the performance of a business.The learner is required to write a short consultancy report evaluating how business performance can be improved through effective management of resources and controlling budgets. They should use appropriate examples from different organisations to justify their evaluations.Grading tipsThe learner should assess the relative merits of the methods of the managing resources and make judgement on the effectiveness of these methods in improving the performance of their selected business organisation.This task will enable the learner to achieve D1Task 7: [P4]: Describe sources of internal and external finance for a selected business.The learner is required to consider the internal and external sources of finance, which can be obtained for starting up a business including the advantages and disadvantages of each. For each source of finance that the learner identify they should indicate whether it is short term, medium term or long term; explain why it is appropriate for the business giving reasons why the business is likely to have selected this source of finance, which could include advantages and disadvantages.Grading tipsThe range of internal and external resources of finance should be more than just a list. The sources should be relevant to the type of business they have selected.This task will enable the learner to achieve P4Scenario: Assignment 2: Oak Tree Bakeries Limited – addressing:Task 8: P5, Task 9: P6, Task 10: M3, and Task 11: D2 Oak Tree Bakeries Ltd is a medium-sized organisation that wishes to expand its activities. You have just heard that the owners of a local competing bakery called Oak Tree Bakeries Ltd want to retire and sell their interests in the business. The board of directors for Oak Tree Bakeries Ltd have asked you as their head of accounting to explain the accounts of Oak Tree Bakeries Ltd. You have been given their accounts for the last year and these are shown in - Appendix A.Task submission dates and tutor feed-back/recommended corrective action/s, Task 8: [P5]: Interpret the contents of an income statement account and balance sheet for a selected company.Study the “Income Statement” and “Balance sheet” of Oak Tree Bakeries Ltd (Appendix A)Give an account of the worthiness of the business by explaining the purpose of each element (show formulae and actual calculations)State whether the company is making a profit or loss.Grading tipsThe learner should provide a brief written interpretation of the key elements of the income statement and the balance sheet, explaining the purpose of each element i.e. Purchases, Inventory, Gross Profit, Net Profit, Non-Current Assets, Current Assets, Current Liabilities, etc.This task will enable the learner to achieve P5Task 9: [P6]: Illustrate the financial state of a given business.The learner/s is/are required to explain using a Word document- the financial state of HYPERLINK \l "AppendixA" Oak Tree Bakeries Limited using ratio analysis: hyperlinked accounting ratio’sa) Assume number of share issues equals 1000This task will enable the learner to achieve P6Task 10: [M3]: Interpret the contents of an Income Statement and balance sheet for a selected company explaining how accounting ratios can be used to monitor the financial performance of the organisation.Explain in detail how the accounting ratios can be used to monitor the financial state of, Oak Tree Bakeries Ltd then comment on the company’s general financial performance.Grading tipsThe learner is required to extend their answer to Task 9: P6, demonstrating that they can apply the use of various financial ratios. The learner should show the formulae of the ratios and their workings to demonstrate how they have arrived at their answers.This task will enable the learner to achieve M3Task 11: [D2]: Evaluate the adequacy of accounting ratios as a means of monitoring the state of the business in a selected organisation, using examples.The learner is required to write a short consultancy report evaluating how business performance can be improved through effective management of resources and controlling budgets. They should use appropriate examples from different organisations to justify their evaluations.Grading tipsThe learner should assess the relative merits of the methods of the managing resources and make judgement on the effectiveness of these methods in improving the performance of their selected business.This task will enable the learner to achieve D2Scenario: Assignment 3: Premium soft drinks – addressing:Task 12: P7, Task 13: M4 and Task 14: D3Premium Soft Drinks manufactures a range of drinks, which it distributes throughout the UK.The learner are given the following information about Premium’s three main brands:Sunzest is a healthy , additive free juice drink based on orange and lemon extracts aimed at adult marketTingle is a brightly coloured fizzy drink, aimed at the children’s market.Zing is a carbonated drink, sold in fashionable can mainly to the teens’ market.During the year the following events have occurred:All brands have been heavily advertisedThe summer was exceptionally hotEarly in the year there was a health scare over food dyes in children food and drinkIn the summer a competitor launched a new competitively priced, additive free, children’s drink which proved very popularTask submission dates and tutor feed-back/recommended corrective action/sTask 12: [P7]: Illustrate the use of budgets as a means of exercising financial control of a selected company.In order to illustrate how budgets can be used - as a means of exercising control of “Premium Soft Drinks” - the learner is required to :Write comments on the performance of the three brands shown in the budget report. Explain in each case the factors that have made the variance: favourable or adverse, adding any further points you think might be relevant.State what course of action the manufacturer might take to reverse any adverse trend.Budget report: Premium Soft DrinksBudget Centre: Sales Department Budget holder: R BoltPeriod October 2013 Date: 7 November 2013Current periodYear-to-dateTrendcommentsBudget?000Actual?000Variance?000Budget?000Actual?000Variance?000Sunzest200250+5027503125+375FavourableTingle225200-2512751150-125AdverseZing425450+2540254475+450FavourableThis task will help the learner to achieve P7Task 13: [M4]: Analyse the reasons why costs need to be controlled to budget.The learner is required to analyse the reasons why a company - such as, “Premium Soft Drinks” - costs need to be controlled to budget.Grading tipsThe learner is required to produce a memo giving reasons why a business, such as, “Premium Soft Drinks” needs to manage a budget and control costs. They should include reference to break-even analysis its limitations and helpfulness, purpose of budgets, how overspending is prevented, what happens if a budget surplus occurs and make reference to fixed, variable and semi-variable costs, importance of maintaining an adequate level of working capital and variance analysis.This task will enable the learner to achieve M4Task 14: [D3]: Evaluate the problems they have identified from unmonitored costs and budgets.The learner has been given a budget (below) to study by the manager of “Premium Soft Drinks”; the learner’s task would be to identify and evaluate the problems from unmonitored costs and budgets: The learner is required to study the budget below, calculate the variance, and state whether it is favourable or adverse. This should be followed by a briefing document containing an evaluation of the problem they have identified from the unmonitored costs and budgets. (In other words, explain the possible reasons why the budget is overspent and explain what can happen if costs and budgets are not monitored.) January 2014Budget (?,000’s)Actual (?,000’s)Variance (?,000’s)Sales Revenue:160144Materials:4042Other direct costs:5256Overheads:7678Profit:(8)(32)Grading tipsThe learner may build on the evidence provided for M4. They should evaluate the problems they have identified from poorly controlled budgets by looking at the potential consequences for the organisation arising from the budget variances. The learner’s evaluation should be supported by some real life examples (Scottish parliament, NHS IT system, Wembley stadium etc) – see internet / Google search-engineThis task will enable the learner to achieve D3Source of informationBTEC L3 National in Business text book This brief has been verified as being fit for purposeAssessor/s:Grade:Pass / Merit / DistinctionSignature:Date: Internal verifier: Signature:Date:Student: Signature:Date: Appendix: A Summary: Income Statement - Oak Tree Bakeries Ltd (2012)?Purchases (all on credit):88,000Opening Inventory: 25,000Closing Inventory: 20,000Sales (all on credit):278,000Cost of sales:93,000GROSS PROFIT:185,000Expenses: 110,000NET PROFIT:75,000Credit sales: 100,000Credit purchases: 40,000Summary: Balance sheet - Oak Tree Bakeries Ltd (2012)??Non-Current assets:+ 225,000Current assetsInventory: 5,500Trade Receivables:31,500Sub total:+ 37,000Current liabilitiesTrade Payables: 12,500Bank overdraft:9,500Sub total:-20,000Net Current Assets: + 15,000Sub total:240,000Long-term liabilitiesBank loan: -33,000NET ASSETS:207,000 FINANCED BYShare capital:132,000Net profit:75,000207,000 ................
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