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Newcrest Company

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Added on  2021-06-18

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Accounting for Business Introduction 2 Income Statement 3 Revenue 3 Expense 5 Net profit 6 Balance Sheet and the Notes to the Financial Statements 7 Independent Audit Report 10 News 11 Conclusion 13 Bibliography 13 Introduction Newcrest Company is a known largest gold mining company in the world. Income Statement Revenue Table 1: Revenue (Yahoo, 2018) Revenue 30/06/2017 30/06/2016 Difference % Change Total revenue 3,477,000 Australian dollars 3,295,000 182,000 Others 5.52352 The figure of the revenue reveals that the company is marked

Newcrest Company

   Added on 2021-06-18

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Accounting for Business
Newcrest Company_1
Table of ContentsIntroduction......................................................................................................................................2Income Statement............................................................................................................................3Revenue........................................................................................................................................3Expense........................................................................................................................................5Net profit......................................................................................................................................6Balance Sheet and the Notes to the Financial Statements...........................................................7Independent Audit Report..........................................................................................................10News...........................................................................................................................................11Conclusion.....................................................................................................................................13Bibliography..................................................................................................................................131
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IntroductionNewcrest Company is a known largest gold mining company in the world. The company safelydelivers the superior returns to the stakeholders from finding developing and operating the goldand copper mines. The company is committed to maintaining a safe environment for the people,operating and developing the sustainability of mines in line with the environmental standards anddeveloping lasting relationships with the communities in which they operate. The vision of thecompany is to be Miner of Choice for the people, shareholders, partners, andsuppliers[CITATION new171 \l 1033 ]. The company feels proud of themselves for being agile,bold and having the mindset of the owner. The primary gold and copper production in Australiaof the company is at Ridgeway. The company operates in two mines in Papua Guinea, hiddenvalley, and Lihir. In the year 2010, the company successfully announced its merger with theLihir Gold. This move was expected to create world’s fifth largest gold producer, with combinedproduction of 2.8 million ounces of gold. The primary focus of the company was withinAustralia until the year 1991, when it commenced exploration in the overseas. NewcrestCompany was determined for becoming significant and internationally recognized gold miningand Exploration Company. The organization even established exploration around Australia andoverseas were paying a dividend and the company was capitalized for more than 2 billiondollar[CITATION new181 \l 1033 ]. The company is having experience in development andcommissioning at large scale[CITATION new181 \l 1033 ]. Company uses low cost bulk openpits and underground methods of mining for optimum recovery of the high grade epithermaldeposits[CITATION new181 \l 1033 ].The company has strong track records of discovering the deposits over Gosowong and basemetals deposits. Apart from the development projects located in the provinces where the2
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company is already having mining operations. The company at present is evaluating two mainprospects with metal endowments[CITATION new18 \l 1033 ].Income StatementRevenueTable 1: Revenue [CITATION yah18 \l 1033 ]Revenue30/06/201730/06/2016Difference% ChangeTotalrevenue3,477,0003,295,000182,0005.52352The figure of the revenue reveals that the company is marked by significant improvements insafety performance number[CITATION yah18 \l 1033 ]. All the main operations of the companyhave been contributing towards the free cash flows which have bene applied for furtherdecreasing the debt amount and the strengthening the balance sheet as well as enhancing revenuefor shareholders. The continued commitments and adherence to company's transformation plan have underpinnedthe improvement[CITATION yah18 \l 1033 ]. The revenue is expected to rise in coming timebecause of the low level of the planned shutdown. The main focus of the company basicallyremains on the elimination of the facilities and life-changing injuries from the business while3
Newcrest Company_4

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