You should have completed this task and printed it out to hand in at the start of your first Business lesson in September.

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1 Bridging task for 2016 entry A Level Business Why do I need to complete a bridging task? The task serves two purposes. Firstly, it allows you to carry out a little bit of preparation before starting your studies in September, carrying out tasks which are relevant the course. Secondly, the task is designed to allow your teacher to assess important skills at the start of the course, which they can use for planning student activities and identifying where support might be needed. When should I hand it in? You should have completed this task and printed it out to hand in at the start of your first Business lesson in September. How will I be given feedback on how well I have done? Feedback will be given in written and verbal form by your teacher and will outline your strengths and areas for development. Summary of the task 1. Complete a questionnaire. 2. Complete the numerical calculations, using the formula provided. 3. Enter the data from your calculations into a table and comment on the results. 4. Write a summary about a business you have researched. 1

2 Course: A Level Business Student name: Date submitted: Section A - Self-review. This is used to help your teacher understand your background, your experiences and which business course might suit you best. 1. Did any of your school assessments contain coursework? Yes No If yes, was it an enjoyable part of study at school? Yes No If yes, did it support you in your work and support you Yes No In achieving a better grade? 2. How many of the subjects you studied at school had coursework? 3. How many vocational (non GCSE) subjects did you achieve? 4. Are you happy to study a subject that is examined only by an examination? Yes No 5. Do you prefer to have coursework as part of your study of business studies at college? Yes No 6. Have you achieved a business qualification in school, if so, what course was it and what grade did you achieve? 7. What grade did you achieve in the following: GCSE Mathematics GCSE English Language 2

3 Section B Calculations This task is typical of the work you will complete in the finance units on the A level business course. The task requires you to make calculations and then complete the profit table, using information provided. When you have completed the table, you must make a brief comment on the financial changes between 2015 and Company information Jazzy Jumpers is a small business creating individually knit jumpers selling through an on-line web site. As part of the accounting process the business must calculate its revenues, costs and profits for the year and then comment on the changes which have taken place between 2015 and Financial information Use the following information and the table on page five to make the calculations to complete this table. For each calculation, show the working. a. Calculate Sales Revenue for The sales revenue is the income earned from selling jumpers. To calculate this you must use the formula and show your workings Number of jumpers x selling price 4000 jumpers sold at a price of 30 each The sales revenue is b. Calculate the costs for 2016 Costs are the expenses a business incurs to make and sell the jumpers. Cost of Sales this is how much it costs to make the actual jumper sold (materials and time). It is calculated using the following formula Number of jumpers sold x cost of making the jumper jumpers were sold and it cost 12 to make each jumper The cost of sales is 3

4 c. State the other/ fixed costs for 2016 these are the other costs of running a business, not directly linked to making each jumper and include costs such as rent, website fees, bills and marketing. These other/ fixed costs are 3,000 higher than the figure for 2015 (see table page 5) The other/fixed costs are d. Calculate the total costs for 2016 This is the total of all running costs for the business and is calculated by using the following formula: Cost of sales + fixed costs Total costs are e. Calculate the profit or loss for This is the aim of the business, to make a profit. A profit exists when the sales revenue is higher than the total costs. A loss exists, when the sales revenue is lower than the total costs. It is calculated by the formula below. sales revenue minus total costs The profit or loss is ** (see below) **If the answer is positive it is a profit; if the answer is negative it is a loss. Profit Summary for Jazzy Jumpers State whether Jazzy Jumpers made a profit or a loss. 4

5 F. Use your previous calculations to complete the profit or loss table for In this table, explain the answers from your calculations. In the comments at the side, summarise the key change for each section. In the table below, write a summary of the financial performance of Jazzy Jumpers Comments on the changes Sales Revenue 105,000 Business Costs Cost of Sales 42,000 Other (Fixed) Costs 40,000 Total Costs 82,000 Profit 23,000 Summary of overall performance. 5

6 Section C Writing Assessment Current Affairs The aim of this activity is to broaden your understanding of what a business is, as well as being able to create a piece of extended written text. This activity will help you to focus on the world of business in preparation for starting the course. Research into a business (This must be hand written) Name of the business Article Summary Select any business you use or know about and carry out a simple investigation into this business. Write a 150 word hand written summary about this business. Ideas for your summary could include: The name of the business Where it is located Products or services sold The types of customer who use it Any competitors you are aware of Any other information you want to provide 6