Lynas Corporation (LYC)
Lynas Corporation (LYC
Introduction
Lynas Corporation Ltd is a mining company that is listed in the Australian Stock Exchange. It is among the S&P/ASX 2000 company (Lynas Corporation Limited 2018). Its main areas of operations are the mining section and a concentration plant. It also has a refining plant that is located in Kuantan Malaysia. The organization came into inception in 1983 with its headquarters at Yilgangi Gold NL. The entity was founded by Nicholas Kurtis. The entity presented its annual reports to stakeholders in 2018. The focus of this study is on the analyses of the accounting concepts and framework used by the entity in its financial reporting. The measurement concept as employed in the annual reports is assed and the qualitative characteristics of the financial statements presented y the entity in its 2018 financial results. Preparing financial statements in line with objective accounting concepts and frameworks enhance the accuracy of accounting data presented, its relevance and the extent to which it meets the expectations of the stakeholders
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