28 Level of proficiency Foundation Intermediate Advanced Expert Progression Relying on support from others Building independence Taking responsibility Driving transformation, innovation and growth Under direct supervision. With reduced support from others, some autonomy and together with my peers. On my own and together with my peers. Taking and sharing some responsibilities With some guidance and together with others. Taking responsibility for making decisions and working with others. Taking responsibility for contributing to complex developments in a specific field. Contributing substantially to the development of a specific field. Discover Explore Experiment Dare Improve Reinforce Expand Transform Competence Hint Descriptor Thread Level 1 Level 2 Level 3 Level 4 Level 5 Level 6 Level 7 Level 8 2: RESOURCES 2.4 Financial and economic literacy Develop financial and economic know-how. Estimate the cost of turning an idea into a value-creating activity. Plan, put in place and evaluate financial decisions over time Manage financing to make sure my valuecreating activity can last over the long term. Find funding. I can identify the main types of income for families, businesses, non-profit organisations and the state. I can describe the main role of banks and basic needs of stakeholders in the economy and society. I can explain that valuecreating activities can take different forms (a business, a social enter-prise, a nonprofit organisation and so on) and can have different structures of ownership (individual company, limited company, co-operative and so on). I can identify public and private sources of funding for my sustainable valuecreating activity (for example, prizes, crowd-funding, and shares). I can choose the most appropriate sources of funding to start up or expand a value- creating activity. I can apply for public or private business support programmes, financing schemes, public subsidies or calls for tender. I can raise funds and secure revenue from different sources, and manage the diversity of those sources. I can judge an opportunity as a possible investor in environmentally, socially and financially sustainable actions, projects or organizations. Understand taxation I can outline the purpose of taxation. I can explain how taxation finances the activities of a country and its part in providing public goods and services for the benefit of environmental protection, economic development and social equity. I can estimate the main accountancy and tax obligations I need to fulfil to meet the tax requirements for my sustainable activities. I can estimate how my financial decisions (investments, buying assets, goods and so on) affect my tax. I can make financial decisions based on current taxation schemes and current environmental taxation policy. I can make financial decisions based on current legal, environmental and social taxation policies of different countries and territories.
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