Role of a Controller Essay

Role of a Controller Essay

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A chief accounting officer and head of the accounting department are called as the controller. A controller is responsible for each and every activity of the business and they prepare the financial statement of the company (AccountingCoach, n.d.). Controller has the responsibility in monitoring every activity which has impact on the financials of the company. It is the responsibility of the controller to make analyses, interpreting and to control the entire accounting and financials of the company. Their duties include cost accounting, payroll, budgeting, internal auditing, forecasting, using appropriate accounting methods, accounting procedures and taxes (Bianco, n.d.).

Controller is responsible to account for every revenue and expenses incurred by the company; in short they have entire control over the funds of the company and are responsible for making important fiduciary decisions. Almost every decision that involves money cannot be made without the advice and opinion of controller. They are responsible in preparing financial report to the management stating about both actual and budgeted performance for the stipulated period. Besides these internal works, controller is responsible in presenting the appropriate report to the concerned government agencies (Bianco, n.d.). Controller has the responsibility in protecting the assets of the company which is done through appropriate internal control and auditing system.

Accounting system:
An effective accounting system is the need of hour and it is essential for any organization to sustain in the market. Accounting system will make work faster and they create for an excellent infrastructure especially when it is software based. In this first the controller should understand about...


... middle of paper ...


...ing software —StrategyBlocks. Retrieved February 28, 2014, from http://www.strategyblocks.com/business-strategy-software/

UC San Diego (2014, February 25). Internal Control Practices: Accounts Payable. Retrieved February 28, 2014, from http://blink.ucsd.edu/finance/accountability/controls/practices/accounts-payable.html

University Of Hawaii (2000). CASH MANAGEMENT AND SHORT-TERM INVESTMENT OF OPERATING FUNDS. Retrieved from http://www.hawaii.edu/svpa/ep/e8/e8201.pdf

Www.adhc.nsw.gov.au (n.d.). Chapter 3 - Strategic Business Planning. Retrieved from https://www.adhc.nsw.gov.au/__data/assets/file/0006/228750/969_ItsYourBusiness-Chapter3-StrategicBusinessPlanning_web.pdf

Www.general-data.com (n.d.). Comprehensive Fixed Asset Management Solutions | General Data Company, Inc. Retrieved February 28, 2014, from http://www.general-data.com/services/fixed-asset-management

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