Skills for Work: Business Finance

Good to know

• Spreadsheet software is a required resource at every level: "Learners must have access to computer software that enables them to complete a digital spreadsheet" (Assessor and Resource Requirements, pages 83, 85, 87, 89 and 91).
• Only the Level 2 criteria name the spreadsheet, for example "Produce a cash flow forecast, using a digital spreadsheet." (Level 2, AC 4.3, page 82). The Level 1 criterion is only "Produce a basic cash flow forecast." (Level 1, AC 4.3, page 85).
• The practical criteria are set in a scenario, not a real enterprise: "Learners should use a scenario that enables them to show these assessment criteria." (Level 2 and Level 1 amplification, pages 82 and 85).
• There is no set evidence format: "There are no prescribed assessment methods for this unit." (Prescribed Assessment Methods, page 83).
• The assessment is short: "20 GLH incorporates assessment time of no more than 60 minutes." (Appendix A, page 106). At Level 2 the three spreadsheets and the written criteria all have to fit inside that hour, although learners may use more than one sitting.
• AI is banned in the summative task: "AI tools must not be used at all." (Appendix A, page 106).
• The task is done once, under supervision, with no redrafting: "All assessment production must be completed under direct supervision" and "Drafting and redrafting are not permitted in this summative task." (Appendix A, page 106).
• Learners prepare their own notes: "Learners must produce their own reference materials, in preparation for completing their summative assessment." (Appendix A, page 106).
• Digital submission is allowed: permitted evidence includes "Digital (or written) documents" and "E-portfolio, through online submission" (Appendix A, page 106).
• Agored Cymru has an exemplar for this unit, and the exemplars "are constructed using Microsoft Word" (Section Five, page 98).
• There are no second chances on a submission: "There are no resubmission opportunities available for these qualifications." (Section Five, page 99).
• Only one level counts: "multiple levels of the same unit title are not permitted" when aggregating units (Section Two, page 9).

Links with other qualifications

The WJEC Skills for Work unit Business Finance is also 20 hours but requires a real enterprise activity, centres on budgets and records of income and costs, and leaves spreadsheets, cash flow and break-even to guidance rather than the criteria. The Pearson unit is 10 hours and centres on income, costs, budgets and a simple financial plan, with no spreadsheet requirement. The Agored Cymru unit uses a scenario instead of an enterprise activity, goes further on funding, investment and strategic financial planning, and is the only one of the three whose criteria name a digital spreadsheet, for the Level 2 profit and loss account, profit margins and cash flow forecast. Agored Cymru's own mapping lists Digital Competence as a cross curricular skill for the unit, through "the use of digital tools for practical or project activity" and responsible use of online platforms for finance (page 92). The spreadsheet work links to the Agored Cymru Skills for Work unit Using IT in the Workplace and to GCSE Digital Technology, and the finance content to the Skills for Work units Enterprise Venture and Sustainable Economic Development, the Skills for Life unit Financial Literacy, and GCSE Business. None of these other Agored Cymru units is printed in this specification.