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Controllers Job Function 1

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Jacques Mae Robles
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18 views

Controllers Job Function 1

Uploaded by

Jacques Mae Robles
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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An accountant, or A controller, or comptroller,

DEFINITION practitioner of accounting, overseas the accounting operations


keeps and analyzes financial of a firm, including managing staff
EDUCATIONAL
CPA CPA or MBA
REQUIREMENT
Focus specifically on Focuses more on the
JOB DUTIES accounting practices and oversight of accounting
procedures activities
ACCOUNTING VS. FINANCE
Controllers are experts in accounting who must stay
current on Generally Accepted Accounting Principles
(GAAP) and tax rules, whereas CFOs operate in the
broader discipline of finance, such as financial planning,
capital markets and investing
TACTICAL VS. STRATEGIC
Controllers are tactical operators, adhering to procedures and
deadlines and focused on accuracy. CFOs have a longer line of
sight, working on more strategic issues that affect where the
company is headed.
HEADS DOWN VS. HEADS UP
Controllers spend most of their In contrast, CFOs take a "heads-
time in a "heads-down" position — up" posture: scanning markets,
that is, working to keep ledgers economic forecasts and the
accurate and accounting systems competitive landscape for
working smoothly, analyzing opportunities and threats.
variances and balancing debits and
credits.
INTERNAL CONTROLS VS. MARKET
TRENDS
Controllers are responsible for CFOs spend more of their time
developing, disseminating and looking externally; they investigate
monitoring the internal controls partnerships, investment
that safeguard a company's assets opportunities and acquisitions.
and prevent and detect errors and
fraud.
EXECUTING TONE VS, SETTING TONE
The controller translates that The CFO sets the tone for
vision into day-to-day the entire financial team and
management of direct shapes its culture.
reports.
FACE OF THE ACCOUNTING VS.
FACE OF THE COMPANY
Controllers are the face of The CFO is the face of the
company to outside parties, their
the accounting function to
tasks include leading quarterly
all the other department earnings conference calls and
managers in the company. liaising with banks or large
suppliers.
Controller CFO

Expertise Accounting Finance

Approach Tactical Strategic

Perspective Heads-down Heads-up

Focus Internal Control Market Trends

Leadership Executes Tone Sets Tone

Image Face of the Accounting Face of the Company


1.
-Protects and conserves a business's resources and
accurately reports on its financial position.
a.Approving invoices: Ensuring invoices are properly approved and coded in the general
ledger.
b.Cash flow management: Monitoring and balancing cash flows into and out of a business
to meet obligations and optimize investment.
c.Internal controls: Creating and monitoring company policies and internal controls,
especially spending controls, to safeguard company assets and reduce fraud.
1.
d.Payroll: Handling payroll processing and labor tax compliance.
e.Debt management: Administering loan agreements for company borrowings and
collecting moneys owed to the company from customers.
f.Banking: Setting up bank accounts and managing banking relationships.
g.Compliance: Ensuring compliance with local law, tax provisions and relevant industry and
financial regulations
h.External reporting: Preparing company tax and financial statements, including public
filings with the Securities and Exchange Commission (SEC).
-Manages the finance organization efficiently.

a.Audit liaison: Coordinating with external financial, compliance and tax auditors.
b.Budget: Assisting or fully creating the budget, including incorporating historical data.
c.Leadership: Mentoring and managing the accounting and financial staff.
-Provides the right information at the right time to
support business execution
a.Reporting and analysis: Providing financial reporting and analysis to guide decision-
making.
b.Cost savings: Identifying efficiencies and opportunities for cost reductions across the
business.
-Supports executives moving the company toward its
mission and goals with financial information and analysis.
a.Financial strategy: Developing financial strategy, including risk minimization plans and
opportunity forecasting.
b.Stakeholder management: Advising company managers on operations activities based on
knowledge of the underlying business
Analytical Skills
Accounting and Administrative
Process Optimisation
Knowledge of Office Technology
Knowing Dynamics
The competence portfolio that usually distinguishes
the 4 fields: Specialist,Methodical, Social and
Personal competency. It refers to social and
personal competencies which primarily indicates that
these cannot be quantified and aims to express the
quality of being human.
Methodical Competence

Describes the ability to aquire knowledge, it also


includes the ability to distinguish between
unimportant and important information.
Specialist Competence

It means using proven expert knowledge and best


practice to support people.
Social Competence

A set of positive skills neccessary to get along well


with others and function constructively.
Personal Competence

It means having an awareness of one-self, own


interests and needs; Knowledge of techniques to
assess own strenghts and weaknesses.
1.
2.
3.

4.
Bachelor's degree in business, accounting, finance, or
related field.
Proven work experience in accounting or any related
field.
Understanding of applicable laws and regulations
Understanding of economic principles, financial,
markets, and banking
Understanding of financial data analysis and reporting
Knowledge of payroll, accounts payable, and accounts
receivable functions.
Ability to deliver quality work on tight deadlines, with
strong organization and priority setting skills.
Proven experience in financial project management.
Advanced computer skills, Excel.
Able to communicate financial information into sound
business language so everyone understands.
Knowledge of federal regulation on taxes and reporting.
Deep understanding of finance

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