Level 3 Diploma in Business (L3DB) (Part 3)

5. Syllabus

Introduction to Business 

Title Introduction to Business 
RQF code: T/504/0966
Credits 10
Level 3

 

Guided Learning Hours 60 hours Total Qualification Time 200 hours

 

Learning Outcomes;
The Learner will:
Assessment Criteria;
The Learner can:
1. Understand different types of
businesses and their functions
1.1 List different types of businesses found in the public and private sectors
1.2 Identify the various stakeholders involved with a business
1.3 Describe how stakeholders can affect business activity
1.4 Identify an organisation’s business objectives
1.5 Define primary, secondary and tertiary
organisations
1.6 Define corporate social responsibility
1.7 List a range of benefits of socially responsible business behaviour
1.8 List a range of perceived negatives of socially responsible business behaviour
2. Understand a range of basic
business and management structures
2.1 Identify different business departments
2.2 Explain the function of different business departments
2.3 Explain why organisations develop layers of authority
2.4 Identify a range of leadership styles
2.5 Explain an organisation’s staffing and
management structure
2.6 Describe a range of elements which can influence business culture
3. Be able to demonstrate an
understanding of basic marketing principles in business 
3.1 Define ‘marketing’
3.2 Define ‘needs’ and ‘wants’ in relation to marketing
3.3 Identify a range of market segment categories
3.4 Explain market research and the ‘marketing mix’
4. Understand the basic concepts of production 4.1 Define ‘production’
4.2 Describe the steps necessary in a range of production processes
4.3 Explain different production layouts
4.4 Demonstrate the ability to select the most suitable production method for a particular product
5. Be able to utilise a number of
key business concepts
5.1 Explain the difference between a micro and macro business environment
5.2 Explain why quality is important in business
5.3 Explain the ‘Kaizen method’ for quality control
5.4 Present information to others, following research, on what type of business an unfamiliar organisation is
5.5 Present information to others, following research, on the activities of an unfamiliar organisation
5.6 Create a SWOT analysis for an organisation
5.7 Perform a PESTLE analysis on an organisation

 

Syllabus Content
Topic Course coverage
Concepts of
Business
  • Business activities
  • Types of business

Learning Outcome: 1

Business
Environment
  • Macro Economy
  • Competition
  • Legal Environment
  • Corporate Social Responsibility
  • Ethics
  • PESTLE

Learning Outcome: 5

Production and
Quality
  • Production
  • Manufacture vs. Services
  • Quality

Learning Outcome: 4

People and
Processes
  • Management and structures
  • Organisation Design
  • Leadership and Management styles
  • Change and culture

Learning Outcome: 2

Marketing
  • Market analysis
  • Marketing mix
  • SWOT

Learning Outcome: 3

 

Related National Occupational Standards (NOS)
Sector Subject Area: Business and Administration (2013)
Related NOS: CFABAD321 Collate and organise data
CFABAD322 Analyse and report data
CFABAA617 Develop a presentation
CFABAA623 Deliver a presentation

 

Assessment Type 
Global Assignment (100%)
See also Section 3 above

 

Introduction to Accounting and Economics 

Title Introduction to Accounting and Economics
RQF code: M/504/0965
Credits 10
Level 3

 

Guided Learning Hours 48 hours Total Qualification Time 100 hours

 

Learning Outcomes;
The Learner will:
Assessment Criteria;
The Learner can:
1. Understand essential aspects
of accounting
1.1 Define the term ‘accounting’
1.2 Contrast the role of the accountant with the economist
1.3 Explain a range of common accounting terms
1.4 Describe the different forms of business unit
2. Understand essential aspects
of economics
2.1 Define the term ‘economics’
2.2 Explain the difference between microeconomics and macroeconomics
2.3 Contrast the role of the economist with the accountant
2.4 Explain a range of common Economics terms
2.5 List a range of factors that influence supply and demand
3. Understand how markets
operate
3.1 Describe the different types of market that can exist
3.2 Explain a range of factors which can determine the structure of a market
3.3 Describe the effect of competition on the structure of a market
3.4 Explain the term ‘globalisation’
3.5 Explain how economic growth may occur within markets
4. Understand the role of money,
interest rates and inflation within the area of accounting and economics
4.1 Describe the different measures of money
4.2 Explain how governments use interest rates
4.3 Explain how governments use monetary policy
4.4 Explain what is meant by ‘exchange rates’
4.5 Explain the link between exchange rates and monetary policy
4.6 Describe the effects of inflation on the economy
5. Be able to apply a number of
key concepts in accounting 
5.1 Process simple accounting statements using the double entry system
5.2 Balance a business account
5.3 Produce a trial balance
5.4 Calculate period end adjustments
5.5 Explain the process of preparing a financial statement
5.6 Interpret a financial statement
5.7 Prepare a financial statement
5.8 Incorporate period end adjustments into a financial statement
5.9 Prepare supply and demand curves to describe how markets work 

 

Syllabus Content
Topic Course coverage
Introduction
  • The economic perspective
  • Types of economic system
  • What is economics?
  • What is accounting?
  • Module overview

Learning Outcome: 1, 2

Supply and Demand
  • How markets work
  • Describing the behaviour of sellers
  • Describing the behaviour of buyers
  • How prices reconcile supply and demand

Learning Outcome: 3

Market Structures
and Competition
  • Describing markets
  • Things that affect the structure of markets
  • Is competition important?

Learning Outcome: 3

Income and Output
of Nations
  • Micro and macro economics
  • Describing the behaviour of national economies

Learning Outcome: 2

Money, Interest
Rates and Inflation
  • The price of money
  • The banking system
  • When money loses its value

Learning Outcome: 4

Introducing the
International
Dimension
  • The international dimension
  • How currencies affect international trade
  • Globalisation, is this good or bad?

Learning Outcome: 3, 4

Introduction to
Accounting
  • From economics to accounting
  • Concepts and conventions in accounting

Learning Outcome: 1

Bookkeeping
  • Writing things down
  • Income, expenses, assets, liabilities and capital

Learning Outcome: 5

Period End
Adjustments
  • The accounting period
  • Accounting estimates; depreciation, inventories, payables, receivables and provisions

Learning Outcome: 5

Preparing Financial
Statements
  • Putting the numbers together
  • Types of financial statement
  • How financial statements are linked
  • The annual report

Learning Outcome: 5

Interpreting Financial
Statements
  • Reasons for interpreting statements
  • Methods of interpretation
  • Reporting the results of interpretation

Learning Outcome: 5

Review
  • The main ideas in this module
  • Economics, the big picture of markets and countries
  • Accounting, the view from the firms

Learning Outcome: 1, 2, 3, 4, 5

 

Related National Occupational Standards (NOS)
Sector Subject Area: Business and Administration (2013)
Related NOS: CFABAD321 Collate and organise dataSector Subject Area: Accountancy
Related NOS: FSPFA3 – Account for income and expenditure
FSPFA5 – Draft financial statements

 

Assessment Type 
  • Global Assignment (100%)
See also Section 3 above

 

6. Results and Certificates 

The grade descriptors Pass, Merit and Distinction are awarded by Unit to successful candidates. A Pass is awarded for an overall Unit mark of between 40 and 59. A Merit is awarded for an overall Unit mark of between 60 and 69 and a Distinction is awarded for an overall Unit mark of 70 and above. Candidates who obtain an overall Unit mark of below 40 are classed as failed in the Unit and may resit.

A final qualification mark will be awarded upon successful completion of all units. This is calculated by finding the average mark of all units that make up the qualification. Please note that in exceptional circumstances, NCC Education may be required to change the algorithm to calculate a final qualification mark for a learner in order to secure the maintenance of standards over time. Any necessary changes to this algorithm would be shared with Centres and learners promptly by NCC Education. An example is given below:

Unit Unit
Points
Candidate
Mark
Unit Points *
Candidate Mark
Introduction to Accounting and Economics 10 86 860
Introduction to Business 10 72 720
Culture Studies 10 ́81 810
Foundation Mathematics 10 88 880
Study and Communication Skills 20 93 1860
60 420 5130
5130/potential 6000 = 86

 

Grade Descriptors incorporate characteristics intended to provide a general indication of assessment performance in relation to each Unit’s Learning Outcomes in this specification. The final Unit grade awarded will depend on the extent to which a candidate has satisfied the Assessment Criteria. A qualification is awarded when the candidate has achieved at least a pass in all Units.

After each assessment cycle, results slips are issued (in electronic format) which detail the grades achieved, i.e. Fail, Pass, Merit or Distinction (see Appendix 2). Certificates which contain your qualification grade and pass mark are then dispatched to Centres.

Download Level 3 Diploma in Business (L3DB): Here

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