Unit 2; Business Resources

For P1 and P2, learners, describe the recruitment documentation for a specified job role. They start by identifying a particular job role and obtaining application forms and job description. They then draw up a list of the requirements for the post and describe the attributes they already possess or expect to possess by the end of the course.

For P3, learners should be aware of the main physical and technological resources required for the operation of a selected business. If the school or college is used as the business, classrooms and computer suites would be obvious examples.

For P4, the range of internal and external sources of finance should be more than just a list. The sources should be relevant to the selected business

 Sources of Finance Quiz

Sources of Finance Quiz 2

For P5, learners should be given statements and be able to provide a brief written interpretation of the key elements of the trading and profit and loss account and the balance sheet, explaining the purpose of each element.

Accounts Research Activity

Income Statements and Statements of Financial Position Presentation

Income Statements and Statement of Financial Position Workbook

Key Financial Terms Starter Quiz 

Financial Statements Assessing Performance Activity

For P6, learners should be able to use break-even charts. They could be presented with a budget that has not been managed properly and identify the problems and suggest remedies.

For P7 learners should be able to use accounting ratios to show the financial state of a given business

For M1, 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.

For M2, learners should assess the importance of employability and personal skills to the selected organisation when they are recruiting new staff and attempting to retain existing staff. It is important that learners are able to link this assessment to their selected organisation. This may involve the selecting key skills that are most appropriate to the needs of the organisation

For M3, learners will extend their answer to P7, demonstrating that they can apply the use of various financial ratios. They should show the formulae of the ratios and their workings to demonstrate how they have arrived at their answer.

For M4, learners should show an awareness of the problems that can arise if costs are not controlled to budget. This can be demonstrated by looking at a given scenario and breaking down the various elements of the budget to determine why it is overspent and by identifying the problems that this will create for the selected organisation.

For D1, learners should assess the relative merits of the methods of the managing resources and to make judgements on the effectiveness of these methods in improving the performance of the selected business

For D2, learners will be expected to provide additional knowledge and understanding about accounting ratios.They would be expected to provide judgements about the sufficiency of ratios as a measure of how well a company is performing.

For D3, learners will build on the evidence provided for M4. They will evaluate the problems they have identified from poorly controlled budgets by looking at the potential consequences for organisation arising from the budget variances.