Duties of a Financial Controller
If you are planning to be a financial controller, you have to know first the duties that come with it. Knowing such will make you aware of your functions as well as responsibilities. Therefore, you will be the best finance controller possible.
That is why it is best to read this article since this discusses the duties of a financial controller.
If there are job opportunities for financial controller position, prior to applying for this, you must be aware of its duties as well. Knowledge about duties of financial controller will make you do your possible job accordingly.
Financial and Budgeting Planning
Finance controller is responsible in the financial and budgeting planning. The controller primarily works with the executives who are of senior level in creating the annual budget of the organization. Aside from that, budget controller is also responsible in the establishment of the financials goals of the organization intended for long term basis. Having budgeting duties, finance controller also often takes part in preparing budget and goals for the company. Because of this, finance controller aids in the planning and integration of business budgeting aspect.
Financial and Accounting Reporting
Aside from finance controller's duty in budgeting and financial planning, these people are also responsible in the financial and accounting reporting. Specifically, finance controller helps in the bookkeeping as well as accounting aspect of your organization. As personnel in an institution that is responsible in duties for record-keeping, finance controllers are responsible in annual and periodic reports involving tax documents, cost reports and income statements. Under this, you as finance controller need to supervise some of the people in other departments in terms of:
- Securing accounts that are payable
- Accounts that are receivable
- Accomplishing the payroll
- Debt Collection
Fraud of Auditing Protection
Furthermore, finance officer also has the duty intended in fraud or auditing protection. The finance controllers works hand in hand with auditors in order to accomplish required documentation and also to correct some identified concerns and also problems. In addition to that, controllers are also given the duty to enforce and set procedures and accounting policies that will provide protection to the organization against theft and fraud. Moreover, finance controllers have the duty of ensuring that the organization follows the government laws imposed as well as those that are set by some regulatory agencies.
Another duty of finance controller is all about the management aspect of the company or institution. There are a lot of people under your business who must report to you. These are the financial clerks, auditors and staff accountants. Consequently, the finance controllers must spend time in the management of human resources. Some of the duties of finance controller under the management aspect include training of staff, supervising and hiring. If you will notice, the job of finance controller is just similar to the function of the comptroller. This is a person under the company that is affiliated to organizations that are nonprofit.