Essay
UNIT 12 ASSIGNMENT 1 DISTINCTION*****
- Course
- Institution
DISTINCTION ACHEIVED
[Show more]
Seller
Follow
kj2013
Reviews received
Content preview
2020 Unit 12 Assignment A&B&C P1 P2 P3 P4 M1 M2 M3 D1 D2Unit 12 BTEC Assignment Brief
1st Resub
Sub
P1
P2
P3
P4
M1
M2
M3
D1
D2
Learning Aim A&B 2020-2021
Learner name
Pearson BTEC Level 3 National Diploma in Business
Qualification
Pearson BTEC Level 3 National Extended Diploma in Business
Unit number and
Unit 12: Financial Statements for Specific Businesses
title
A: Understand different types of businesses and their capital structure
Learning aim(s)
B: Examine the end-of-year financial statements for partnerships
(For NQF only)
C: Explore the end-of-year financial statements for non-profit-making or
Different types of businesses to include partnerships
Assignment title
and non-profit making businesses
Assessor Viv Leadbetter
Issue date 10.03.2021
Hand in deadline 24.03.2021
Learner declaration
I certify that the evidence submitted for this assignment is my own. I have clearly
referenced any sources used in the work. I understand that false declaration is a form
of malpractice.
Learner signature: Date: 13/03/2021
Vocation You have been researching the financial world and the many career
, opportunities available. You have discovered that all companies, across
every industry, will need someone who is good with numbers, and you are
interested in working in finance.
al
Scenario You are working to improve your finance skills and are currently on work
or experience at an accountancy firm as a trainee accounts assistant.
Context
You have been given a case study with data on a partnership and a non-
profit making business to work with.
Business Ownership
Your first task is to show your knowledge of different types of businesses
and their capital structure, in particular partnerships and non-profit-
making businesses by writing a magazine article. This article should
show your independent research, knowledge and be in three parts.
Task 1
ownership
capital structure
legal requirements
The introduction must include examples of differing types of businesses
In the article, assess the merits and drawbacks of each of these
businesses type in relation to the:
Task 2 ownership
capital structure
legal requirements
The article must conclude with an evaluation and justification of how
suitable the different types of business are for each of the given business
Task 3 activities.
Task 4 Partnership Business
Firstly, using the data supplied, you must complete accounting
adjustments and the end of year financial statements for a partnership
business.
The statements must include:
a statement of comprehensive income
an appropriation account
2
BTEC Assignment Brief v1.0
BTEC Internal Assessment QDAM January 2015
, a statement of financial position
You must incorporate appropriate adjustments such as:
depreciation
accrued and prepaid expenses and revenues
bad debts
loan interest
interest on partners’ capital
interest on partners’ drawings
partners’ salaries
Show the calculation and treatment of goodwill and the revaluation of
assets from changes to partnerships such as:
a new partner joining
Task 5 a partner leaving
revaluation of assets
a change in the profit and loss sharing ratio
Non-Profit-Making Organisations
Prepare a document that analyses the importance of non-profit-making
organisations. This must include the importance to:
Task 6 the wider economic environment
the social environment
key stakeholders (individuals, groups in society, the government,
business, local community)
Next, using the data supplied, complete the end-of-year financial
statements for a non-profit-making organisation, incorporating appropriate
adjustments and using relevant accounting concepts.
Task 7 The statements must include:
A statement of comprehensive income (trading account)
An income and expenditure account
A statement of financial position (balance sheet)
Task 8 Accounting Concepts
Finally write a report that evaluates the relevant accounting concepts
used in the completion of financial statements for partnerships and non-
profit-making organisations. You must use information and data from the
3
BTEC Assignment Brief v1.0
BTEC Internal Assessment QDAM January 2015
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller kj2013. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.18. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
60904 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now