FAR EASTERN UNIVERSITY-MANILA

Institute of Accounts, Business, and Finance

Department of Accountancy and Internal Auditing

MODULE 6
Socio-Economic and Appendices

Learning Outcomes

After studying Module 6, you will be able to:

1. Identify the benefits of the industry to the national economy.
2. Provide for possible positive effect to employment-creation.
3. Estimate the taxes that will accrue to the government.
4. Describe the impact of the business on sustainability of the society and its environment.
This module will cover the study of the benefits that can be obtained from a project in terms of its
contribution to the community, to other business firms and to the national economy as a whole.
The social benefits that may be derived from a project could be in the nature of
1. Increased taxes paid to the government
2. Provision of employment opportunities
3. Increased peso inflows to the country

The following should be presented:

a. Description of the industry – you begin with a short description

of the industry by describing the industry, describe the present
outlook as well as future
possibilities. You should also
Description of the Industry provide information on all the
Food is one of the basic necessities of a human being, thus, it can be deduced that an
average person’s purchasing power is mostly allotted for food consumption. As such,
various markets within the
the conclusion that the food industry is one of the largest industries in the world arises. industry, including any new
The food industry is comprised of a wide range of areas including the food service products or developments
industry. that will benefit or adversely
Due to the emergence of millennials who possess the purchasing power, the food
service sector, especially the fast food restaurants, has started providing convenience affect your business. When
alongside expanded and exciting menus in response to the fast-paced lifestyles of describing your business, the
millennials. Moreover, among the food service sector, chicken fast food restaurants first thing you need to
have experienced the most stable and greatest growth in the food industry.
In addition, high food quality is one of the most fundamental features in achieving
concentrate on is its
customer satisfaction. As such through securing customer satisfaction, Chick ‘N structure. By structure we
Cheese strives to attain and maintain customer loyalty. mean the type of operation,
i.e. wholesale, retail, food
Sample 1. Description of the Industry
service, manufacturing, or
service-oriented. State this
right away in the description,
along with whether the business is new or established. See
sample 1.

https://www.entrepeneur.com

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 FAR EASTERN UNIVERSITY-MANILA
Institute of Accounts, Business, and Finance
Department of Accountancy and Internal Auditing

b. Production – you have to describe what’s your production

system shall want to
achieve. You have to give
the steps on how these
Production
Chick ‘N Cheese ensures its customers that the products it offers are high efforts shall be undertaken
quality by using ingredients that not only meet but also exceed the average to achieve the goal or
standards. In the preparation and production of the products, Chick ‘N Cheese objective of the business.
guarantees that it utilizes equipment and machinery in stellar condition. Chick
‘N Cheese also employs production techniques that are designed to produce Discuss what are the
quality products. benefits it will give to the
Sample 2. Production
business as a whole if such
undertakings are done. See
sample 2

Employment
An organization’s human resources are essential in the success of a
business. As such, Chick ‘N Cheese puts emphasis on attaining and maintaining c. Employment – briefly discuss
employee satisfaction since the employees are fundamental in the propagation of here the importance of employment
the business’ customer-oriented culture. Likewise, the welfare of employees will
be given priority by the business.
that your business is giving i.e.
The Chick ‘N Cheese’s recruitment process will focus on the provision of jobs to society, community, environment,
people within its community to assist in the reduction of the unemployment rate. etc.. See sample 3
In no case will the job descriptions and specifications include discriminatory
requirements in the field of gender, race, religion, sexual preferences, and others.
Expertise, skills, and abilities shall also be observed in employee selection and upon
recruitment, employees will be continuously trained.
Employees will be provided with just compensation in relation to their job
requirements and assignments. Benefits including 13th month pay, sick leaves,
holiday pays, and salary increase are given to the employees to keep the provision
of high quality service to customers. Future assistance for the security and welfare
of the employees are also provided for in the form of SSS, PhilHealth, and PAG-IBIG.
Other incentives such as ‘employee of the month’ will be awarded to employees to
encourage and further boost employee morale.
In addition, teamwork shall be employed within the business and a positive and
encouraging environment shall be fostered. Occasional team buildings and outings
will be organized to reduce any personality diversification within the working place.
With this, stressful co-workers and working environment will be prevented and
employee focus will be directed in maintaining the provision of high-quality service.

Sample 3. Employment

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 FAR EASTERN UNIVERSITY-MANILA
Institute of Accounts, Business, and Finance
Department of Accountancy and Internal Auditing

c. Taxes - cite the importance of religiously filing

business taxes. See sample 3.

Taxes
As a VAT registered business, Chick ‘N Cheese considers tax compliance as
one of its duties and responsibilities to the society. In observance of the law,
appropriate returns will be filed and properly computed tax amounts will be paid on
time in order to prevent unnecessary inquiries as to the accuracy of tax dues and also,
to avoid being charged with interest, penalties, and surcharges. Moreover, proper
compliance with the government will give a positive reputation to the business.

Sample 3. Taxes

d. Health matters – emphasize here that the business is

offering healthy foods because this matters to them. Not
only that they are concern with the well-being and health
of their customers but also of their employees as well.

Health Matters
As a member of the community, Chick ‘N Cheese emphasizes its focus on
providing its customers with high quality products and services. As a start, the
business’ products and its ingredients are guaranteed to be in compliance with the
standards imposed by the government. Also, Chick ‘N Cheese purchases from local
food suppliers that provide only the freshest and finest quality goods. Besides that,
Chick ‘N Cheese takes initiative steps in ensuring that its local suppliers are registered
and in compliance with the standards set by the government.
Moreover, nutritional value is not abandoned in the process of production, ingredients
are to be handled with care during food preparation and production for the
preservation of its natural nutrients. Proper storage of products and ingredients is
observed for the prevention of defective products and spoilage. Lastly, production
process shall be monitored closely to detect any alterations to the process that could
be harmful to the business’ customers.
APPENDICES – appendices
contain information that is not
essential to the essay or report that you have written, but support analysis and validates
your conclusion. See below:

• Demand Questionnaire
• Supply Questionnaire
• Supporting computations (e.g. Projected Demand & Supply, market share, etc.)
• Payroll computation
• All business forms – BIR, SSS, Phil health, HDMF, etc.
• Curriculum Vitae

GOOD LUCK!

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 FAR EASTERN UNIVERSITY-MANILA
Institute of Accounts, Business, and Finance
Department of Accountancy and Internal Auditing

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REQUIREMENTS

Fourteenth Week Output:

You are now ready to submit Module 6 – Socio-Economic Aspect and other
requirements. Each group will submit the following:
1. Description of the Industry
2. Production
3. Employment
4. Taxes
5. Health Matters
6. Appendices
▪ Demand Questionnaire
▪ Supply Questionnaire
▪ Supporting computations (e.g. Projected Demand & Supply, market
share, etc.)
▪ Payroll computation
▪ All business forms – BIR, SSS, Phil health, HDMF, etc.
▪ Curriculum vita
Rubrics

Criteria (1- 2 Points) (3-4 Points) (5 Points) Score

Fair Good Very Good
Punctuality in Submits the output Submit the output Submits the output
submission one or more weeks the following week on time.
after the deadline. after the deadline.
Completeness in Incomplete in many Complete in most Complete in all
contents aspects and includes aspects and aspects and
few requirements includes most includes all
requirements requirements
Analysis and Presents incomplete Presents an Presents an
utilization of analysis of data; and insightful and insightful and in-
project failed to use project analysis of most of depth analysis of
development development the data; uses all data; uses
concepts concepts some project many project
development development
concepts concepts.
Overall Presentation is Presentation is not Presentation is
presentation generally dull; so appealing; not generally
hurriedly done. seriously done appealing;
artistically and
neatly done
Total maximum points 20

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 FAR EASTERN UNIVERSITY-MANILA
Institute of Accounts, Business, and Finance
Department of Accountancy and Internal Auditing