This document is a report on an investigation of the social and ethical issues in the financial reporting of Hilo Portmore, a supermarket in Jamaica. It includes an introduction outlining the context and objectives of the investigation. The methodology section describes how primary and secondary research was conducted, including distributing questionnaires to Hilo employees. Literature reviews definitions of key terms like social issues, ethical issues, and financial reporting. The report presents data collected from the questionnaires in figures and tables, including employees' views on Hilo's community involvement, working hours, health services, and measures to improve. It evaluates Hilo's practices based on the research and provides recommendations.

1. Name: Kashima Wright
Candidate #:
Centre #:
Teacher: Ms. Morrison
Territory: Jamaica

2. TITLE
“AN INVESTIGATION OF THE SOCIAL AND ETHICAL ISSUES IN FINANCIAL
REPORTING OF HILO PORTMORE”

3. ACKNOWLEDGEMENT
Firstly I would like to thank the lord for giving me the health and strength to assemble
this internal assessment together. Secondly, I would like to thank the Hilo Company
located at Portmore Pines Plaza, for accommodating my research for the past two weeks.
This company was very supportive in helping me with the completion of this internal
assessment. Last but not least I would like to thank Mrs. Morrison for her constant drive
to help me in completion this research which as taught me a lot about the social and
ethical issues in financial reporting.
*size 12 font please

4. INTRODUCTION
This internal assessment was done to mainly to obtain additional information on the
social and ethical issues in financial reporting in which the Hilo company as practice. The
context of this internal assessment involves the following:
1. What are social and ethical issues?
2. How the company practices this?
3. What is financial reporting?
In addition to this the researcher hopes to share with its readers the information which
was attained.

5. TABLE OF CONTENTS
CONTENTS PAGE
Title
Acknowledgement
Introduction
Report
Aims and Objectives
Methodology
Literature Review
Statement of Limitation
Data Analysis
Evaluation
Recommendation
Reference
Appendices

6. AIMS AND OBJECTIVES
AIMS
1. To develop an understanding of what the social and ethical issues of Hilo are and
what are some of the measures being put in place to achieve this.
2. To develop an awareness of how social and ethical issues has impacted on the
development of Hilo.
3. To develop an appreciation of the need for organizations to act as responsible
citizens.
4. To provide basic information about how the organization has made a contribution
to the community.
5. To evaluate the impact of social, ethical and environmental issues on the
community.
6. To understand the roles and functions of establishing the organization as a fair,
honest and truthful company in terms of the quality of goods and services.

7. OBJECTIVES
1. To identify social and ethical issues in financial reporting.
2. To assess the operating effectiveness of the company and structure.
3. To comply with the company’s regulations and government laws.
4. To provide assurance that the company goals and objectives are being
achieved.
5. To develop skills to analyze cases related to problems in finance meaning
discourage the arrance of errors and irregulations.

8. METHODOLOGY
In the data collected for the completion of this internal assessment both primary and
secondary sources were used. Questionnaires are a form of primary source which was
used by the researcher. The researcher feels that questionnaires would be less time
consuming to complete not only this but so that it guarantees confidentiality since
respondents are not required to attach their names. In addition to this the researcher
thinks that the questionnaires would be much easier to distribute and would be received
quickly.
Secondary source which was used was the internet. This enables the researcher to
assess more information about the company and what activities they may engage in. This
form of collecting data was very convenient for the researcher since internet connection
was readily available and could be access at any time.
The study group for this research project was a group of worker, managers and
supervisors at Hilo Portmore located at Portmore Pines Plaza. The reason for which this
area was selected is the workers would be better able to answer the questions since they
would be aware of the activities in which the company engages in. A total of sixteen
questionnaires were issued, it was expected that sixteen (16) would be returned. These
questionnaires were distributed to members of the company. This questionnaire targeted

9. the following age groups16-20, 21-30, 31-40 and 41-over. The selection of this sample was
done through the process of random selection.
LITERATURE REVIEW
As sited by www.google.com Social Issues are matters which directly or indirectly affect
a person or many members of a society and are considered to be problems, controversies
related to moral values, or both. Under certain models of political issues, they are seen as
distinct from economic issues. With further investigation of this site a definition was also
found for Ethical Issues the site states that an ethical issues is a Problem or situation
which requires a person or organization to choose between alternatives that must be
evaluated as right (ethical) or wrong (unethical). Another site www.wikipedia.com gave a
definition for financial reporting and it says that financial reporting or A financial
statement is a formal record of the financial activities of a business, person, or other
entity. In British English—including United Kingdom company law—a financial
statement is often referred to as an account, although the term financial statement is also
used, particularly by accountants.
For a business enterprise, all the relevant financial information, presented in a structured
manner and in a form easy to understand, are called the financial statements. They
typically include four basic financial statements, accompanied by a management
discussion and analysis:

10. Balance sheet: also referred to as statement of financial position or
condition, reports on a company's assets, liabilities, and Ownership
equity at a given point in time.
Income statement: also referred to as Profit and Loss statement (or a
"P&L"), reports on a company's income, expenses, and profits over a
period of time. Profit & Loss account provide information on the operation
of the enterprise. These include sale and the various expenses incurred
during the processing state.
Statement of retained earnings: explains the changes in a company's
retained earnings over the reporting period.
Statement of cash flows: reports on a company's cash flow activities,
particularly its operating, investing and financing activities.
For large corporations, these statements are often complex and may include an extensive
set of notes to the financial statements and management discussion and analysis. The
notes typically describe each item on the balance sheet, income statement and cash flow
statement in further detail. Notes to financial statements are considered an integral part of
the financial statements.
Kashima, there is a lot of unnecessary information in this Literature Review, just
focus on what others have said about social and ethical issues and nothing else.
Delete all of this page plus the last paragraph on the above page.
Once you have done so your word limit will be more reasonable because before I
typed all this it was over 3500 words.

11. STATEMENT OF LIMITATION
During the researchers investigation a number of problems were encountered. The main
problems in which the researcher face were it was very difficult and time consuming
meaning that the time when the researcher visited was not always convenient to the
company which resulted in the researcher having to travel back and forth to the company
on a regular basis which was very expensive. Although all these problems were faced it
gave me the motivation in completing this internal assessment more.

14. Figure 1 shows that out of the 16 persons who were given questionnaires,
majority (91%) responded that the company is involved in its surrounded community.
On the other hand 9% of the respondents stated that the company was not involved in
the community.

15. HOW THE COMPANY NUMBERS OF
PARTICIPATES RESPONDENTS
OUTREACH PROGRAMMES 3
FUN DAYS 3
CUSTOMER’S APPRECIATION DAY 5
NONE OF THE ABOVE 2
Figure 2 is a table which was outlined to show how the company participates
in the surrounding community. Respondents were asked to state if the company was
involved in the community the respondents who stated yes were asked to state the ways
in which the company does this. Five persons stated that customer’s appreciation day was
one of the major ways in which the company participates in the community. Three
persons also stated that outreach programmes and fun days were other ways in which the
company shows its involvement in the company. The other two persons state that none of
these methods was a way in which the company shows its involvement in the community.

16. NUMBER OF HOURS NUMBERS OF
WORKED RESPONDENTS
10 HOURS 2
9 HOURS 11
OTHER(8 HOURS) 3
Figure 3, suggests that out of the 16 workers of the company in which
questionnaires given to eleven (11) people stated that they spent 9 working hours a day at
the company. With further analysis of the data three person tastes that they worked 8
hours while on the other hand two (2) persons said that the worked 10 hours
*Label all tables, Table 1, Table 2 and all other charts Figure 1 etc.

17. Figure 4 shows the various ways in which the company provided health
services for its employees. 47% (7) of persons who were given questionnaires stated that
the company provides health benefits for the employees working at the company.
Another 40 %( 6) of persons stated that the company provides N.I.S (National Insurance
Scheme) for the employees of the company. The remaining 13 %( 2) stated that the
company doesn’t provide any health services for members working at this company.

18. Figure 5 from the figure above we can accumulate that seven of the questionnaire
respondents stated that a way in which the company outline their responsibilities as
corporate citizens is by conducting their business in a morally way. Conversely the other
respondents stated that conforming to the laws outline by government is another way in
which the company can outline their responsibilities as corporate citizens.
*spell check for outline in the question that is in the Figure.

19. 8
6
4
2
0
Figure 6 of 16 the persons who were given questionnaires 8 stated that improving
the safety awareness was one of the measures which the company should improve.
Conversely 5 persons stated that improving work conditions and treatment of workers
was another way in which the company would improve the health and safety level of the
company. In addition to this 3 persons suggests that adjusting the health services for
workers was other way in which the company could improve the health and safety level
of the company.

20. 8
7
6
5
4
3
2
1
0
Figure 7 the diagram above ways the possible ways in which the company can
promote themselves as good citizens. Of the 16 questionnaires that were given to each
workers of the store, 7 persons stated that contributing to the community is a way in
which the company can do this. Conversely 5 persons suggested that treating consumers
fairly was a way in which the company could promote themselves as good citizens. The
remaining 4 persons stated that showing loyalty towards consumers in difficult economic
conditions is another way of doing this.

21. 0 2 4 6 8 10 12
Figure 8 shows that 11(69%) of respondents stated that due to the good relationship
in which the company as with its consumers and investors it may lead to being
recommended by other consumers and investors. The other 5(39%) of these persons
suggested that this may result in the consumers and investor continuing their services in
the company

22. 10
0
Figure 9 the diagram above shows that out of the 16 person who were given
questionnaires, 10 responded that the company needs to access the quality of goods at
lower prices in order to improve their quality of goods. The other 6 persons stated that
improving their productive techniques was another way in which the company can
improve their quality of goods and services.

23. 0 2 4 6 8
Figure 10 shows that majority of respondents stated the use of trucks was a way
in which the company transports its goods to the necessary branches. 5 others persons
who were given questionnaire states that car was another way in which the company
transports its goods. The least popular measure by ship in which 3 persons stated was also
used by the company.

24. Figure 11 as shown above 37% of respondents thought that in order for the
company to improve its social, ethical and environment issues they need to be more
involved in the community. Another 19% stated that the company should improve its
social responsibility. Conversely 44% of the persons suggested that the company should
market new promotional campaigns to attract consumers.

25. EVALUATION
Upon investigation at Hilo Portmore it has been proven that the company practices social,
ethical and environment issues in financial reporting. A further investigation was done on
the company website http://www.gracekennedy.com/companies/hilo-food-stores-ja-ltd
Hi-Lo has evolved as one of the leading supermarkets in Jamaica; admired by both its
customers and competitors. With its competent and dedicated group of employees, Hi-Lo
is focused on creating long lasting relationships with our customers through our FS5
commitment to Fresh Stores, Fast Service, Frequent Savings, Full Shelves, and Friendly
Smiles. This philosophy is facilitated through our locations island wide. The company’s
website also mentioned that the operations have been supported by several customer
service initiatives through the passage of time in an effort to serve its customers better.
These initiatives commenced with the annual Farm and Flower Fair and later the
Manor Park Tea Room, the Senior Citizen’s programme, Sunday opening, private label,
and a designated customer service line. In 2007, Hi-Lo Food Stores received the
Divisional CEO’s award for the most improved company in Grace Kennedy’s GK Foods
division, having made profit consistently for the year, and in 2008 received the Company
of the Year award. Today, Hi-Lo remains profitable and is poised for expansion. Hi-lo
food stores opened at the end of November in the Portmore Pines Shopping Centre in
Portmore, St Catherine in which Approximately 50 persons were employed. On their
website it was also stated that the company has a good management team and a dedicated

26. staff who have been doing an excellent job. It was also mentioned that the company is
very focused on customer satisfaction and operational efficiency.
With further investigation of the data that was collected from members of staff at hi-
lo*Capitalize the company’s name) Portmore it was discovered that majority of the
workers were aware of the company’s involvement in the community. From the sixteen
(16) questionnaires that were issued to these members only six (6) respondents disagreed
with this, as is shown in Figure 1.this shows that either the members of this company
were not made aware of the company’s involvement in the community. This may mean
that the company needs to circulate messages with the other employees of the company
so that there would be no misinterpretation in the company. Based on the information
presented it shows(pasts tense please) that majority of the members who were given
questionnaires were aware of the ways in which the company participates in the
community. As clearly shown on Figure 2 that the main way in which the hi-lo company
participates in the community in which it is surrounded by on the other hand outreach
programmes and fun days was another way in which the members suggested was used by
the company however, 2(type out the 2) persons stated that the company is not involved
in the community. This may mean that the company needs to do more in the community
so that these persons would be more aware of the ways in which the company participates
in the community. Of the 17 members who were given questionnaires 56% strongly
agreed that the company try to outline their responsibilities as corporate citizens by
conforming to the laws in which are outlined by government these laws maybe include: if
the company has the necessary licenses to operate the business as well as if the members

27. have the necessary permits where needed for example food handlers permit. The other
remaining 44% stated that the company conducts the business in a morally way which
means if the company is following the social, ethical and environmental issues. This
information can be further outlined in Figure 5. During the analysis of the data my
attention was drawn to a particular question, “what health services does the company
offer to its employees?” To my astonishment some members stated that no health
services are offered at this company this is very hard to believe since a company has to
have these health services in place in order for it to pass certain laws of operating a
business. (This is of major concern if this is so then the company needs to put more
measures in place to protect its employees from any unwanted or harmful incidents.)The
information in the bracket is a recommendation, therefore put it under the
recommendation section) In conclusion another to this upon visiting the company it was
clear that the customers service at Hi-lo was very good since they see customers as their
first priority. The business was well kept at all times and its exterior was very attractive
to consumers. On the questionnaire that were issued a question was asked “to state some
recommendations in which could help the social, ethical and environmental issues of the
company?” Majority of these persons (44%) stated that the company should market new
promotional campaigns to attract new or old consumers. 37% of these person stated that
the company should show more involvement in the community which may result in these
community members supporting the company. The remaining 19% responded that
improving the company’s social responsibility ways the least popular way in which the

28. company can do this. This means that the company should do more to help the
community in which they are located in or just carry themselves as lawful citizens.
RECOMMENDATION
Upon investigation there were a number of recommendations which could be made these
include: better working works(works right here doesn’t make sense, please fix could be
introduced. The company could introduce the flexi-hours which are often used by
companies whose workers may have to pursue further studies and or have other
obligations.(Was this point brought out in the Discussions of the Findings? If not please
include) The company could also offer more health services for workers. During my
investigation I saw the need where more health services needs to be offered to workers
who are working both in the dangerous sectors of the job but not only this but also to
workers who are in the much safer fields since the company may never know when a
situation would arise so it’s best to do this. In addition to these the company may have
more involvement in the community in which they are located in this may result in
consumers and or investors feeling encouraged to continue their services with the
company.
I also saw the need for more activities to be introduce to help the surrounding community
this may include: helping members of the community who are facing difficult situation
the company may also help the community by beautifying the community, setting up
youth centre’s or libraries to help the youths in the community.

29. REFERENCE
1. www.wikipedia.com
2. http://www.gracekennedy.com/companies/hilo-food-stores-ja-ltd
3. http://m.jamaicaobserver.com/business/Hi-Lo-Portmore
4. www.goggle.com
*Please do this properly

30. Please make necessary corrections and print. Please use the new Headings that are
on the Mark Scheme.
I am not seeing any paragraphs in your report. If you are typing in double space
and you want to distinguish the different paragraphs you need to Triple space to do
so since you are typing in the Block Style.

32. Questionnaire
Please place a tick in the box provided.
1. Sex Male [ ] Female [ ]
2. Age 16-20[ ] 21-30 [ ] 31-40[ ] 41-over [ ]
3. How long have you been working at this company?
One-Five years [ ]
Six-Ten years [ ]
Sixteen-Twenty years [ ]
4. Does the company have any involvement in the community in which it’s surrounded by?
Yes [ ]
No [ ]
5. If yes for the question above, state the way in which the company participates in the
community.
Outreach Programmes [ ]
Fun Days [ ]
Customer’s Appreciation Day [ ]
Other [ ]
None of the Above [ ]

33. 6. How important do you think it is to have effective communication within the company?
Very [ ]
Not needed [ ]
Not sure [ ]
7. Has the company been complying with the regulation outlined by the government?
Yes [ ]
No [ ]
8. How many working hours do your employees work?
10 hours [ ]
9 hours [ ]
5 hours [ ]
Other ________________________________________
9. Do the employees agree to the working hours they are given?
Yes [ ]
No [ ]
10. What health services does this company offer to its employees?
N.I.S. (National Insurance Scheme) [ ]
Health benefits [ ]

34. 11. In what form does the company try to outline their responsibilities as corporate citizens.
Conduct their business in a morally way [ ]
Conform to the laws outline by government [ ]
12. What are some measures you think should be introduced to improve the health and safety
level of the company?
Improving the safety awareness [ ]
Improving workers conditions and treatment of workers [ ]
Adjusting the health services for workers [ ]
13. What do you think are some of the possible ways the company can promote themselves as
good citizens?
Contribute to the community [ ]
Treating consumers fairly [ ]
Show loyalty towards consumers in difficult economic conditions [ ]
14. Do you think it’s necessary that the company has a good relationship with its employees as
well as its investors?
Yes [ ]
No [ ]
Not sure [ ]

35. 15. If yes for the question above, what are some of the results the company would experience
due to the good relationship they have
Being recommended by other consumers and investors [ ]
Continue with their services in the company [ ]
16. Are these laws affecting health and safety in the work force?
Yes [ ]
No [ ]
Not sure [ ]
17. Discuss some of the methods the company could use in improving their quality of goods and
services.
Improve their productive techniques [ ]
Access the quality goods at lower prices [ ]
18. What forms of transportation does the company use to distribute its goods?
Cars [ ]
Ships [ ]
Trucks [ ]
19. Do you feel that the company is practicing the necessary disposal of their wastage?
Yes [ ]
No [ ]
Not sure [ ]

36. 20. Due to the rapid increase of pollution of air, land and water, do you believe the company can
withstand all these and stil remain as the corporate citizen they are?
Yes [ ]
No [ ]
Not sure [ ]
21. What are some of the recommendations which would help to improve the social, ethical and
environment issues of the company?
More improvement in the community [ ]
Improving their social responsibility [ ]
Market new promotional campaigns to attract consumers [ ]