KS4 Curriculum Booklet 2017 - 18

Curriculum Overview KS3

Subject: Business Studies Overview effective from[date ]: September 2017

3.6.3 Financial terms and calculations

Suggested timing (hours)

Learning activities and resources

Specification content

Learning objectives

Additional guidance

To understand the difference between variable costs, fixed costs and total costs. To understand the concept of revenue, costs, profit and loss. To be able to calculate revenue, costs and profit. To understand the main investment projects that businesses undertake. To be able to calculate the average rate of return for these projects.

1

Starter – students write a list of 10 costs that a retail business incurs. Students swap their list with their partner. The partner needs to identify whether the cost are variable or fixed. Key words and simple calculations revision test. Costs and revenue hangman Complete question 2b) 4 marks Paper 1 June 2016 profit calculation. Complete question 1.7 from specimen paper 2.

Basic financial terms Basic financial calculations

1

Starter – show an image of an expensive sports car and a luxury yacht – students decide which one they would purchase and why. Teacher explains that this decision is based around enjoyment of the product etc. vs the cost of the product. Most businesses will base their decisions on cost of the project vs the profit they can generate from the project. Students create a list of the main investment projects businesses are concerned with. Teacher led explanation of the average rate of return calculation. Students complete average rate of return calculations for a variety of projects. Complete question 2.4 from specimen paper 2.

Average rate of return

The main investment projects include investment in new machinery, buildings and vehicles.