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  1. 1. Edexcel GCSE Applied Business (Single Award) Unit 2: Financial Records — a skills approach Editable scheme of work We are happy to Detailed help on provide this scheme resources of work for you to amend and adapt to Week by suit your teaching week content purposes. coverage We hope you find Exemplar this useful. activities Learning outcome
  2. 2. Practical support to help you deliver this Edexcel specification Scheme of work This scheme of work has been produced to help you implement this Edexcel specification. It is offered as an example of one possible model that you should feel free to adapt to meet your needs and is not intended to be in any way prescriptive. It is in editable word format to make adaptation as easy as possible. Other course planning support You will find other support for planning the course in the Teacher’s Guide. This is a free downloadable resource that you can access at www.edexcel.com/gcse2009 Teaching resource exemplars The scheme of work contains suggestions for resources that you can use to support your teaching. These are suggestions only of material you may find useful and you are encouraged to use a wide range of resources that suit the needs of your students. Other Edexcel teaching resources Pearson Education produce a wide range their own teaching resources including: • Student books — full colour textbooks matched to the specification • ActiveTeach — digital teaching resources on one easy to use CD ROM. You’ll find details of all of these at www.edexcel.com/gcse2009 We are also working with a range of publishers to support you; textbooks have been produced to support this subject by Hodder Education, Heinemann Educational Publishing and Collins Education. Edexcel Subject Advisors Edexcel has a team of specialist subject advisors available to help you with implementation of this specification. You can contact them by email. Email: BusinessSubjectAdvisor@edexcelexperts.co.uk Edexcel additional support • Ask the Expert — puts you in direct email contact with over 200 of our senior subject experts • Edexcel’s community — these message boards are designed to enable you to access peer-to-peer support from fellow Edexcel teaching and delivery staff in schools and colleges.
  3. 3. Edexcel GCSE Applied Business (Single Award) Unit 2: Financial Records — a skills approach Edexcel scheme of work Controlled Portfolio Task set by Edexcel to compare and contrast one local and one national/international business. Available every June series. Internally assessed (100 marks) Externally moderated Key to icons ICT Communication Thinking Numeracy Week Content coverage/ Learning outcomes Exemplar activities and resources Skills key questions 1 Unit 2: Financial To understand the unit Teacher and students look at past question papers and mark sheets for Applied Records is made up of four topic Business 2306 (Unit 3) on the Edexcel website: areas. www.edexcel.com/quals/gcse/gcse-leg/business/app-bus Introduction to the unit. To understand the form Students have free access to the Candidate Kit (pages 68-68) at: of assessment for this www.edexcel.com/quals/gcse/gcse-leg/business/app-bus unit: For text on the course see Edexcel GCSE Applied Business Student Book • multiple choice (Carysforth, Dransfield, Neild and Richards) and the accompanying Edexcel GCSE Applied Business Teacher’s Guide. • short answer • extended questions. Edexcel GCSE in Applied Business — Unit 2: Financial Records — a skills approach Scheme of work © Edexcel Limited 2009 1
  4. 4. Week Content coverage/ Learning outcomes Exemplar activities and resources Skills key questions 2-3 2.1 Investigating the Understanding of the Group activity: Financial documents flow of financial types of financial Rotating papers: How many types of financial documents can students name? The documents used in documents used in group has five minutes to put them on A3 paper (each group using a different business trading business trading. colour pen) then pass papers onto the next group. After theory work, the groups return to their A3 papers and check their thoughts. Financial records: Understanding the Types purpose of each document. • purchase orders Individual/paired activity: Activities • delivery notes At: www.businessstudiesonline.co.uk/AppliedGcseBusiness/Activities/Unit3 Understanding the • goods received layout of each notes document. • invoices • credit notes • statements of Individual activity: Exam practice account Past papers for Unit 3 Applied Business 5308. • remittance advice slips • cheques • receipts. 4-5 2.1 Investigating the Understanding how Group activity: Sequencing flow of financial documents flow Group can make a flow chart to show the flow between buyer and seller. Fastest documents used in between the buyer and group wins! business trading seller. Sequence of ordering, checking, recording and paying for goods and/or services. Individual activity: Exam practice Past papers for Unit 3 Edexcel GCSE Applied Business (5308). 2 Edexcel GCSE in Applied Business — Unit 2: Financial Records — a skills approach Scheme of work © Edexcel Limited 2009
  5. 5. Week Content coverage/ Learning outcomes Exemplar activities and resources Skills key questions 6-7 2.1 Investigating the Understanding how to Individual activity: Activities flow of financial complete Practical exercises and activities in GCSE Applied Business by Fardon M, Nuttall C documents used in blank/partially and Prokopiw J (Osborne, 2002), pages 341–352. business trading completed financial Constructing/completing documents. financial records. The ability to interpret and check information Individual activity: Exam practice on a given financial Past papers for Unit 3 Edexcel GCSE Applied Business (5308). document in terms of its meaning, completeness and accuracy. 8-9 2.1 Investigating the Evaluation of the Group activity: Discussion flow of financial importance of these Why would a business need to keep accurate financial records? documents used in financial documents to business trading a business. Importance of financial documents. Individual activity: Exam practice Past papers for Unit 3 Edexcel GCSE Applied Business (5308). 10-11 2.1 Investigating the Investigating how Individual/paired activity: Research flow of financial computerised Students can research the accounting packages available for sale. Info on choosing documents used in accounting systems are a package is available at www.businesslink.gov.uk/bdotg/action/detail? business trading used to store and type=RESOURCES&itemId=1073791285 Computerised manipulate accounting systems. information. Understanding the advantages/disadvanta Individual activity: Exam practice ges of using Past papers for Unit 3 Edexcel GCSE Applied Business (5308). computerised accounting systems and ICT compared with manual systems. Edexcel GCSE in Applied Business — Unit 2: Financial Records — a skills approach Scheme of work © Edexcel Limited 2009 3
  6. 6. Week Content coverage/ Learning outcomes Exemplar activities and resources Skills key questions 12-13 2.2 Investigating Understanding why a Group activity: Payment documents business payment chosen business uses How many types of payment documents can the group name? Students produce a methods and costs some or all of these thought shower on A3 paper. After theory work groups return to their A3 papers The range of payment cash and non-cash and check their thoughts. methods: payment methods. • cash • cheques • credit cards Individual activity: Exam practice • debit cards Past papers for Unit 3 Edexcel GCSE Applied Business (5308). • credit transfer and direct debit • e-cheques and other online payments. 14-15 2.1 Investigating the Understanding how Paired work: Poster flow of financial each payment method Students make a chart/poster to show how one of the payment methods works. documents used in works, the associated business trading costs, the time taken The range of payment by each method, the methods: advantages and disadvantages of • cash accepting and using • cheques electronic payment methods. • credit cards Individual activity: Exam practice • debit cards Past papers for Unit 3 Edexcel GCSE Applied Business (5308). • credit transfer and direct debit • e-cheques and other online payments. 4 Edexcel GCSE in Applied Business — Unit 2: Financial Records — a skills approach Scheme of work © Edexcel Limited 2009
  7. 7. Week Content coverage/ Learning outcomes Exemplar activities and resources Skills key questions 15-17 2.2 Investigating Comparing and Group activity: Costs business payment contrasting a chosen Each group decides on a relevant business that they could start up in the locality. methods and costs business’s sources of What would be the start up and running costs for this business? revenue and costs with those from the same Sources of revenue and and other industrial costs. sectors. Start up costs. Running costs. Individual activity: Exam practice Past papers for Unit 3 Edexcel GCSE Applied Business (5308). 18 2.2 Investigating Understanding the role Group activity: Discussion business payment ICT plays in reducing Which payment methods use ICT? methods and costs costs. Are these fastest payment methods? Why? How ICT can reduce costs. How does speed of payment help the business? 19-21 2.3 Investigating the Understanding the Group activity: Financial terminology nature of financial meaning of, and the Students use textbooks and the web to look up the meaning of the required statements in business difference between, financial terms. A useful website is www.financial-terms.co.uk Financial terminology. terminology used in financial statements. Turnover (net sales). Cost of sales (cost of goods sold). Gross profit, expenses and net profit. Fixed and current assets. Current liabilities and Individual activity: Exam practice long-term liabilities. Past papers for Unit 3 Edexcel GCSE Applied Business (5308). Working capital (net current assets) and capital (including share capital). Edexcel GCSE in Applied Business — Unit 2: Financial Records — a skills approach Scheme of work © Edexcel Limited 2009 5
  8. 8. Week Content coverage/ Learning outcomes Exemplar activities and resources Skills key questions 22-23 2.3 Investigating the Understanding the role Individual/paired activity: Worksheet nature of financial and purpose of profit Available at: statements in business and loss account. www.bbc.co.uk/schools/gcsebitesize/business/finance/accountsrev2.shtml Profit and loss account. Ability to calculate profit and loss using a simple profit and loss account. Individual/paired activity: Worksheet Available at: www.businessstudiesonline.co.uk/AppliedGcseBusiness/Activities/Unit3/ Unit3Menu.htm#GCSEAppBusU3FinDocs Individual/paired activity: Accounting Set up a simple profit and loss account for your business: www.businesslink.gov.uk/bdotg/action/layer?topicId=1073863880 Individual activity: Exam practice Past papers for Unit 3 Edexcel GCSE Applied Business (5308). 6 Edexcel GCSE in Applied Business — Unit 2: Financial Records — a skills approach Scheme of work © Edexcel Limited 2009
  9. 9. Week Content coverage/ Learning outcomes Exemplar activities and resources Skills key questions 24-25 2.3 Investigating the Understanding the Individual/paired activity: Worksheet nature of financial format of a simple Available at statements in business balance sheet. www.bbc.co.uk/schools/gcsebitesize/business/finance/accountsrev3.shtml Balance sheets. Ability to complete a simple balance sheet. Individual/paired activity: Worksheet Available at: www.businessstudiesonline.co.uk/AppliedGcseBusiness/Activities/Unit3/ Unit3Menu.htm#GCSEAppBusU3FinDocs Individual activity: Exam practice Past papers for Unit 3 Edexcel GCSE Applied Business (5308). 26 2.3 Investigating the Understanding how ICT Individual/paired activity: Research nature of financial can or might help a What ICT packages are available that can be used to calculate profit and construct statements in business business to calculate its financial statements? The role of ICT. profit and construct its financial statements. Edexcel GCSE in Applied Business — Unit 2: Financial Records — a skills approach Scheme of work © Edexcel Limited 2009 7
  10. 10. Week Content coverage/ Learning outcomes Exemplar activities and resources Skills key questions 27 2.4 Investigating the Understanding the Small group activity: Wall chart importance of financial difference between: Make a wall chart that clearly show the difference between cash and profit, and statements to business • cash and profit liquidity and profitability. Profitability. • liquidity and profitability. Ability to comment on profit or loss calculated for a chosen business. 28-29 2.4 Investigating the Ability to calculate Individual/paired activity: Worksheets importance of financial profitability ratios Available at www.bized.co.uk/compfact/ratios/profit1.htm and statements to business from a given formula. www.bbc.co.uk/schools/gcsebitesize/business/finance/profitabilityrev3.shtml Profitability ratios. Ability to comment on Gross profit margin. the results of profitability ratios and Net profit margin. other calculations. Return on capital employed. 30-31 2.4 Investigating the Ability to calculate Individual/paired activity: Worksheets importance of financial liquidity ratios from a Available at: www.bized.co.uk/compfact/ratios/liquid1.htm statements to business given formula. Liquidity ratios. Ability to comment on Acid test. the results of liquidity ratios and other Current ratio. calculations. 8 Edexcel GCSE in Applied Business — Unit 2: Financial Records — a skills approach Scheme of work © Edexcel Limited 2009
  11. 11. Week Content coverage/ Learning outcomes Exemplar activities and resources Skills key questions 32-33 2.4 Investigating the Understand how these Individual activity: Research importance of financial financial statements Students read about financial statements at www.shell-livewire.org/business- statements to business could be of interest to library/finance-and-funding/understanding-financial-statements in preparation for Importance of financial the stakeholders of the a discussion. statements to business. stakeholders ie: • owner(s) Group activity: Discussion • managers and employees Why would stakeholders be interested in seeing financial statements from a business? • lenders • government • customers and Individual activity: Exam practice suppliers. Past papers for Unit 3 Edexcel GCSE Applied Business (5308). 34 2.4 Investigating the Understand the role Paired/group activity: Presentation importance of financial that ICT does or might Make a PowerPoint presentation to show the class: statements to business play in helping a business to interpret • how ICT can be used to produce financial statements The role of ICT. its financial • how ICT can be used for monitoring statements. • the graphs and charts that can be used • how ICT can be used to calculate ratios. 3092rl121109S:LTPDScheme of work (Phase 2)Applied Business Unit 2 = Skills SOW.doc.1—12/1 Edexcel GCSE in Applied Business — Unit 2: Financial Records — a skills approach Scheme of work © Edexcel Limited 2009 9
  12. 12. This grid is for you to create your own scheme of work if needed. Week Content coverage/ Learning outcomes Exemplar activities and resources Skills key questions 10 Edexcel GCSE in Applied Business — Unit 2: Financial Records — a skills approach Scheme of work © Edexcel Limited 2009

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