Richesse Management Group Pty Limited

Public accounting services

We provide public accounting services including bookkeeping, financial reporting, management accounting,  and management consulting.

Bookkeeping services include, but are not limited to:

• maintaining and evaluating financial transaction records in books of account such as sales, purchase, cash journals, ledgers or computerised accounting systems
• preparing budget or income expenditure reports, profit and loss statements and trial balances, and
• the making of statutory returns as permitted by law but not making of any subjective decisions in relation to those returns.

Examples include payroll services, data entry of revenue and expenses and basic depreciation calculations.

Financial reporting activities include:

• compilation
• preparation of financial statements
• disclosures and notes to accounts
• other calculations required by accounting standards.

Compilation engagement involves compiling financial information, such as statements. Financial statements are a structured representation of historical or prospective financial information. They include related notes that explain an entity’s economic resources or obligations at a point in time or the changes during that financial reporting period, according to the financial reporting framework. The related notes usually have a summary of significant accounting policies and other explanatory information.

Management accounting means providing financial and non-financial data and advice to a company that will help with its day-to-day running and longer term growth. It involves preparing management reports and accounts that provide accurate and timely financial and statistical information to managers, so they can make smart business decisions. This includes:

• business planning
• forecasting
• cash flow
• budgeting
• management accounts
• cost accounting.

Management consultancy requires a consultant with specialised accounting experience to interpret, evaluate, analyse and report on commercial activities that help management make decisions. This may include, but is not limited to:

• budgeting
• forecasting
• internal controls
• efficiency management
• systems selection and implementation
• resource management
• strategy development and evaluation.