Alexellisaccountingia 120319095644 Phpa

Topics: Balance sheet, Financial statements, Generally Accepted Accounting Principles Pages: 29 (3757 words) Published: November 15, 2014

An investigation into, social, ethical and technological issues and how they impact on the Jamaica Public Service Company Limited for the year 2008.

Name: Alex Ellis
School: Oberlin High
Territory: Jamaica
Registration #: 100086
Teacher: Ms. Jones
Centre #: 100086
Date: April 2011

REPORT: 6 - 27

Nothing in life is ever successful without the corporate effort of many gifted people who are willing to submit their assistant. This work is a product of my thoughts, ideas, perspectives and work. This product has given me the exposure to the knowledge I have placed in this School Based Assessment (SBA). First and foremost I would like to thank the heavenly father for giving me the knowledge and wisdom, so that I was able to complete this School Based Assessment. I Alex Ellis would like to extend my sincere gratitude to Miss Jones for assisting me to carry out the necessary requirement of Caribbean Advanced Proficiency Examination syllabus and to making sure that this SBA was successful at the end. I also would like to thank Keron Brown for lending me his computer and printing facilities so that this School Based Assessment could meet the presentation standards of the Caribbean Advanced Proficiency Examination syllabus.

The Jamaica Public Service Company Limited is incorporated and domiciled in Jamaica and is eighty percent (80%) subsidiary of Maru Energy JPSCO Barbados SRL, which is incorporated in Barbados. The ultimate holding company is Marubeni Corporation, which is incorporated in Japan. The company preference shares are listed on the Jamaica stock Exchange (JSE) market. Jamaica Public Service Company Limited having its preference shares listed on the Jamaica Stock Exchange market shows that the company is a public limited company (a limited liability firm whose securities is traded on a stock exchange and can be bought and sold by anyone). The company is strictly regulated by law, and is required by law to publish its complete and true financial position so that investors can determine the true worth of its shares or stock. Marubeni Caribbean Power Holdings Incorporation at the time period being investigated owns eighty percent (80%) of the Jamaica Public Service Company Limited, while a further nineteen point nine percent (19.9%) of the ordinary shares is held by the Accountant General and the Development Bank of Jamaica on behalf of the Government of Jamaica collectively, and the remaining zero point one percent (0.1%) is held by individuals. Jamaica Public Service Company Limited being a public limited company has some advantages such as; it can raise huge amount of money from the sale of shares, the company can easily raise finance as financial institutions are more willing to lend to public limited companies and production cost may be lower as firms may gain from economies of scale. However the company confronts some drawbacks of being a public limited company which includes; setting up cost can be very expense, it is possible for an outside interest to take control of the company, and the company shareholders are not able to deal with their customers at a personal level. The company has certain legal, social, ethical and technological issues that impact on the financial reporting of the company and the company in general. This research is done to assess these issues listed above and how they have impact on the Jamaica Public Service Company Limited.

To determine the accounting standards used by the Jamaica Public Service Company Limited. To learn how the Jamaica Public Service Company Limited controls its accounts payables, accounts receivables, cash and...

Bibliography: 2007: -2920000 X 100 = - 0.78% 2008: 8845000 X100 = 2.36%
(389442000 + 361520000)/2 (36152000 + 387220000)/2
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