4.2 Delete (114960)
Unplanned events that can influence the amount of pension a person would receive are explained with reference to case studies. The effect of inflation on a post-retirement pension is explained and illustrated graphically. 1. Introduction When it comes to planning for retirement income, it’s easy to overlook some of the common factors that can affect […]
3.5 Delete (114960)
Different benefits at retirement are identified with reference to ancillary options and benefits. Pre-retirement benefits are identified with reference to ancillary options and benefits. 1. Payment of benefits 1.1 Introduction When benefit claims arise, the employer is responsible for informing the administrator of the claim. As part of the claim process, the relevant documentation will […]
3.1 Delete (114960)
The concept of voluntary and compulsory pension provision is explained with examples. Three alternative forms of saving for retirement are explored and an indication is given of the benefits and conditions of each. The different forms of retirement funding are compared, and an indication is given of who would be most likely to select each […]
2.1/2/3 Retirement Planning Factors (114960)
A pensioner and a working adult of similar age are interviewed in order to compare their basic needs. The needs of a pensioner and a younger working adult are compared in terms of lifestyle and attitudes to retirement funding. Reasons, why it is necessary to plan for retirement funding, are discussed with reference to the […]
1.3 Double (114960)
The role of the family and the community in retirement provision is discussed with reference to current trends. The responsibility of the individual to provide for his/her own retirement is discussed with reference to the limitations of State funding and the need to preserve retirement fund contributions. If a person does not have adequate income […]
4.1/2 Double (117111)
The relationship between the debit-credit function is explained with reference to the double-entry concept. Accounts affected by a specific transaction are identified with reference to debits and credits. 1. The general ledger A transaction can be entered into a journal first and then collated and posted to the general ledger. Alternatively, a single transaction can […]
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The four main factors of production are identified, and an indication is given of the remuneration of each. The concept of entrepreneurship is explained with examples. 1. What are factors of production Factors of production is an economic concept that refers to the inputs needed to produce goods and services. The factors are land, labour, […]
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The concept of an asset and the assets in a balance sheet are classified in terms of fixed and current assets. The concept of liability and the liabilities in a balance sheet are classified in terms of long-term and current liabilities. 1. Components of the balance sheet The balance sheet adheres to the following accounting […]