FINANCE AND ACCOUNTING | OTHM Level 4 OTHM Level 4 Diploma in Business Management Assignment Briefs Qualification Number: 610/0763/8 | June 2024 Assessment guidance for criterion referenced marking. The assessment grading criteria characterises the level of complexity and demand expected of students at each level of qualification. Please note that these are generic descriptors which apply mainly, though not exclusively, to written academic work.
Any further unit-specific assessment criteria, such as number of words, should be clearly stated in each individual assignment brief.
Result.
Level 3
Level 4
Level 5
Level 6
Level 7
Pass
Detailed answers to all parts of the questions or tasks.
Clearly structured and focused, demonstrating overall coherence and
in-depth understanding of the unit content and assessment requirements.
Detailed response to all relevant parts of the questions or tasks, with evidence of clear understanding of the issues.
Well-structured with evidence of independent reading supporting the argument.
Very full, independent response to the assignment, applying relevant material well beyond any module input, demonstrating independent study.
Excellent understanding and application of relevant theory, concepts and models. Very clear logical structure.
Excellent links between relevant ideas, theories and practice.
Evidence of independent learning and the ability to engage critically and analytically with a wide range of contextually relevant resource material.
The work demonstrates engagement in an academic debate which presents clear evidence of a considered understanding of the topics studied.
There is evidence of clear synthesis of theoretical issues and practice.
Evidence of the use of independently sourced material, well applied in all contexts.
Clear evidence of a range of independently sourced material, well applied in all contexts.
Very few errors in referencing or grammar or syntax as appropriate.
Demonstration of original insights supported by well-structured overall argument.
A critical analysis of theoretical models and/or practical applications has resulted in originality.
Very few errors in grammar as appropriate.
Very few errors in referencing or grammar or syntax as appropriate.
Very few errors in referencing or grammar or syntax as appropriate.
Very few errors in referencing or grammar or syntax as appropriate.
Result.
Level 3
Level 4
Level 5
Level 6
Level 7
Refer
Little attempt to engage with assignment brief.
Learning outcomes not fully met.
Inadequate demonstration of knowledge or understanding of key concepts, theories or practice.
Little attempt to engage with assignment brief.
Learning outcomes not fully met.
Inadequate demonstration of knowledge or understanding of key concepts, theories or practice.
Little attempt to engage with assignment brief.
Learning outcomes not fully met.
Inadequate demonstration of knowledge or understanding of key concepts, theories or practice.
Little attempt to engage with assignment brief.
Learning outcomes not fully met.
Inadequate demonstration of knowledge or understanding of key concepts, theories or practice.
Whilst some of the characteristics of a pass have been demonstrated, the work does not address each of the outcomes for the specified assessment task.
The work may be an overly descriptive account demonstrating minimal interpretation, and there is very limited evidence of analysis, synthesis or evaluation.
No counterarguments or alternative frames of reference are generated or considered.
Qualification Structure OTHM Level 4 Diploma in Business Management | Qualification Number: 610/0763/8
The OTHM Level 4 Diploma in Business Management consists of 6 mandatory units for a combined total of 120 credits, 1200 hours Total Qualification Time (TQT) and 600 Guided Learning Hours (GLH) for the completed qualification.
All units are mandatory.
Unit Ref. No.
Unit Title
Level
Credit
GLH
TQT
H/650/1099
Academic Writing and Research Skills
4
20
100
200
L/650/1145
Business Operations
4
20
100
200
M/650/1146
Communication in Business
4
20
100
200
R/650/1147
Finance and Accounting
4
20
100
200
T/650/1148
Leading and Managing Teams
4
20
100
200
Y/650/1149
Operating in a Global Context
4
20
100
200
Centre Assessment Guidance Centres are advised to follow the assessment guidance and methods set out by OTHM qualifications within the specification and this document, if a centre wishes to devise their assessment methods then this first must be provided to OTHM Qualifications, prior to implementation.
The Assessor should decide when the learner is suitably prepared to undertake the assessment and issue the Assignment. Once learners have been issued with an assignment, it is essential they work independently to produce and prepare their evidence for assessment.
Before commencing an assessment, the Assessor should take care to ensure each learner understands:
the assessment requirements the nature of the evidence they need to produce the importance of time management and meeting deadlines the importance of submitting authentic work Assessing Unit Content Assessors are expected to assess evidence submitted by learners to determine that the work is suitable in meeting the assessment criteria and provide learners with appropriate feedback.
Centre assessors mark the assignments against the predefined learning outcomes and assessment criteria in the specification.
To achieve this unit, learners must achieve the learning outcomes and meet the standards specified by all assessment criteria for the unit.
For the unit Finance and Accounting, learners will need to be supplied with a range of financial statements / accounts for a business. These can be downloaded by the tutor from the Internet. Assessment Tracking and Recording Learner Progress It is necessary to track and record learner achievement throughout the delivery period of the OTHM Extended Level 4 Diploma and this should not be left until the end of the course.
This will include regular review of learner work through formative and summative assessment and internal quality assurance at planned intervals during the programme:
before decisions have been made on any unit sampling evidence once one or two of the units or assignments are completed Tracking learner progress, recording the achievement of each learner per criteria on a unit-by-unit basis ensures:
the assessment evidence is clearly measured against national standards learner progress is accurately tracked the assessment process can be reliably verified evidence is valid, authentic and reliable for the safety of certification identification of which assessments are outstanding internal verification is timely samples for standards verification and other external audits can be made available as required up to date, securely stored assessment records help to minimise the risk of assessment malpractice and potential issues; maintaining the integrity of the qualification. Tutors/Assessors should provide learners with formative and summative feedback to aid development during their studies.
Formative Assessment
Summative Assessment
used during the learning process
used at the end of the learning process
provides feedback on learning-in-process
evaluates achievement against learning outcomes and assessment criteria
dialogue-based, ungraded
graded Pass / Refer
Assessor Authentication Every member of staff involved in the internal verification of controlled assessment must ensure that each piece of assessed work can be authenticated with confidence as being the work of the learner who submits it. The assessor and IQA must sign a declaration after the work has been completed confirming that the work was completed under the required conditions.
Learner Task Guidance The assessment for this qualification comprises assignment based tasks, to be completed at the end of the period of learning.
The tasks will cover all learning outcomes and assessment criteria within the unit. The tasks are necessary to map and claim knowledge and competence.
You are expected to include citations and references in your academic work and you should follow the Harvard referencing style.
You must use relevant academic and reliable sources.
The Indicative Content in the specification is not prescriptive or exhaustive but is intended to provide helpful guidance to teachers and learners, with the key areas that will be covered within the unit and relating to the kinds of evidence that should be provided for each assessment objective specific to the unit learning outcomes
Learners are expected to adhere to the word count, provided as a range within the question text. A 10% leeway either side of this range is permitted before the assessor is instructed to stop reading any further.
There is no formal time limit for the completion of the tasks, besides that of the validity of assessment materials.
Learners will be required to sign a statement of authenticity, confirming all evidence provided is their own.
As well as the content your tutor/assessor will be scrutinising the following aspects:
Plagiarism and collusion
Critical writing, style
Sentence structure
Grammar, punctuation
Argument, setting out
Presentation of findings and conclusion
Referencing and citation
The tasks are marked by an Internal Assessor and verified.
Learners who fail to achieve the required Pass mark are permitted to re-sit after having sufficient teaching and additional study time.
FINANCE AND ACCOUNTING Unit Reference Number
R/650/1147
Unit Title
Finance and Accounting
Unit Level
4
Number of Credits
20
Total Qualification Time (TQT)
20 hours
Guided Learning Hours (GLH)
100 hours
Mandatory / Optional
Mandatory
Task Grading Type
Pass / Refer
Unit Aims Having an effective finance and accounting function will not only help secure the financial strength of a business but will also support managers to develop and implement a business strategy. The aim of this unit is, therefore, to develop, in learners, the theoretical and applied knowledge to prepare, interpret and adjust financial statements alongside the preparation of budgets.
Learning Outcomes and Assessment Criteria
Learning Outcome – The learner will:
Assessment Criterion – The learner can:
- Understand the context and purpose of finance and accounting.
1.1 Explain the purpose of finance and accounting.
1.2 Explain the regulatory and legal influences on a business’s finance and accounting function.
1.3 Explain how the finance and accounting function supports a business’s decision making.
- Be able to prepare financial statements for different types of businesses.
2.1 Differentiate between different financial statements.
2.2 Prepare financial statements for a sole trader.
2.3 Prepare financial statements for a partnership.
2.4 Apply techniques to make adjustments to financial statements.
- Be able to interpret financial statements.
3.1 Calculate financial ratios from a set of business accounts.
3.2 Compare organisational performance using historical financial data.
4. Be able to prepare a budget.
4.1 Differentiate between different types of budgets.
4.2 Prepare different types of budgets.
Unit Title Finance and Accounting
Task 1 of 3
Unit Learning Outcomes
Assessment Criteria
LO 1 Understand the context and purpose of finance and accounting
1.1, 1.2, 1.3
LO 2 Be able to prepare financial statements for different types of businesses.
2.1
LO 4 Be able to prepare a budget.
4.1
Assignment Brief and Guidance
To demonstrate you have a fundamental understanding of finance and accounting, you have been tasked with writing an essay which considers the following:
the purpose of the finance and accounting department. the regulations in your country and international regulations which influence how accounting departments operate. the laws in your country and international laws which influence how the accounting department operates. how the finance and accounting activities of the accounting department supports the business’s decision making. the differences between types of financial statements. the differences between types of budgets. Delivery and Submission
The submission is in the form of an essay written in Word format.
The recommended word limit is 1000 words excluding diagrams, references, and appendices
Referencing
You are expected to use relevant academic and reliable sources, and clearly reference these in your work.
References should be added to the text and placed at the end in a references list, using Harvard Referencing style.
Unit Title Finance and Accounting
Task 2 of 3
Unit Learning Outcomes
Assessment Criteria
LO 2 Be able to prepare financial statements for different types of
businesses.
2.2, 2.3, 2.4
LO 3 Be able to interpret financial statements.
3.1, 3.2
Assignment Brief and Guidance
Learners will need to be supplied with a range of financial statements / accounts. These can be downloaded by the tutor from the Internet. This will allow the learner the opportunity to analyse and evaluate the required formats, concepts and legal requirements.
The set of financial statements / accounts supplied to the learners should be one for a sole trader and one for a partnership.
Part A:
Using the financial information your tutor has provided, you are required to:
prepare financial statements for a sole trader prepare financial statements for a partnership apply techniques to make adjustments to the financial statements for either the sole trader or partnership accounts Part B:
Using the adjusted financial statements you chose from Part A; you are required to;
calculate a range of financial ratios which will demonstrate the business’s current financial performance, and then produce a summary of how the financial performance of the business has changed over the previous three years. Delivery and Submission
Part A:
Two sets of financial statements which accurately reflect the financial data supplied.
One set of financial statements for either the sole trader or partnership once they have been adjusted based on the additional data supplied
Part B:
The submission is in the form of a set of financial ratios (equivalent to 400 words) and a summary statement in Word format.
The recommended word limit for the summary statement is 250 words.
Altogether Task 2 should be within 1500 words.
Referencing
Not applicable.
Unit Title Finance and Accounting
Task 3 of 3
Unit Learning Outcome
Assessment Criteria
LO 4 Be able to prepare a budget.
4.2
Assignment Brief and Guidance
Learners will need to be supplied with the range of company accounts used in Task 2.
Now that you have completed the financial ratios and been able to summarise the financial performance of the business Task 2, your final task is to produce a set of budgets for the same company.
You will need to:
produce a master budget for the business produce a budget for two of the client’s operational departments ie HR, IT, Operations, Marketing etc. Delivery and Submission
The submission is in the form a spreadsheet containing a master budget and two operating budgets.
This task should not take more than 500 words