Variant 1 Competency Designed to test ability to: Syllabus component learning outcome: being tested: Describe two methods of digital marketing E1 E2(b) - Explain the role of emerging – appropriate for a new range of products, including People skills technologies and media in marketing associated benefits and drawbacks. Demonstrate how to make a decision Task 1 using a risk-seeking, risk neutral and risk averse P1 D1(b) Analyse risk using sensitivity analysis, – – Technical skills approach to decision making. Explain the meaning expected values, standard deviations and People skills of, and how to calculate, the value of perfect probability tables. information. P1 A1(b) Compare and contrast activity-based – – Explain the impact of ABC on product costings. Technical skills costing with traditional marginal and absorption costing methods. Task 2 Explain the information required to calculate the F1 C2(b) Discuss policies for the management – – Economic Order Quantity (EOQ) and the Technical skills of the total level of investment in working capital appropriateness of using the EOQ model to Business skills and for the individual elements of working capital. manage inventory levels. Explain the factors to be considered when drafting Business skills E1 F1(b) Apply the elements of the HR cycle. – – a person specification for a specific role. Task 3 Apply relevant cost principles to explain how to P1 C2(a) Apply relevant cost analysis to various – – determine the financial viability of a short-term Technical skills types of short-term decisions. decision. Interpret fixed production overhead variances and P1 A1(d) Interpret material, labour, variable – – explain the suitability of basing fixed production Technical skills overhead, fixed overhead and sales variances. overhead rates on direct labour hours. F1 B2(b) Apply the rules contained in IFRS to – – Task 4 generate appropriate accounting entries in respect Apply the rules in IAS 38 to explain how R&D Technical skills of reporting performance, accounting for taxation, Department expenditure should be treated in the Leadership skills employee benefits, non-current assets, accounting financial statements. for government grants, impairment, inventories and events after the reporting period.
Variant 1 Designed to test ability to: Competency being tested: Syllabus component learning outcome: Task 1 Describe two methods of digital marketing appropriate for a new range of products, including associated benefits and drawbacks. People skills E1 – E2(b) - Explain the role of emerging technologies and media in marketing Demonstrate how to make a decision using a risk-seeking, risk neutral and risk averse approach to decision making. Explain the meaning of, and how to calculate, the value of perfect information. Technical skills People skills P1 – D1(b) – Analyse risk using sensitivity analysis, expected values, standard deviations and probability tables. Task 2 Explain the impact of ABC on product costings. Technical skills P1 – A1(b) – Compare and contrast activity-based costing with traditional marginal and absorption costing methods. Explain the information required to calculate the Economic Order Quantity (EOQ) and the appropriateness of using the EOQ model to manage inventory levels. Technical skills Business skills F1 – C2(b) – Discuss policies for the management of the total level of investment in working capital and for the individual elements of working capital. Task 3 Explain the factors to be considered when drafting a person specification for a specific role. Business skills E1 – F1(b) – Apply the elements of the HR cycle. Apply relevant cost principles to explain how to determine the financial viability of a short-term decision. Technical skills P1 – C2(a) – Apply relevant cost analysis to various types of short-term decisions. Task 4 Interpret fixed production overhead variances and explain the suitability of basing fixed production overhead rates on direct labour hours. Technical skills P1 – A1(d) – Interpret material, labour, variable overhead, fixed overhead and sales variances. Apply the rules in IAS 38 to explain how R&D Department expenditure should be treated in the financial statements. Technical skills Leadership skills F1 – B2(b) – Apply the rules contained in IFRS to generate appropriate accounting entries in respect of reporting performance, accounting for taxation, employee benefits, non-current assets, accounting for government grants, impairment, inventories and events after the reporting period.