The job position of a Financial Controller is usually ranked very high in the organizations. He or she is basically a professional who needs to oversee the book-keeping and financial reporting in an organization. The person usually has an accounting background to ideally oversee the accounting, monitoring and implementation of internal financial controls. The responsibility includes having the entire oversight of a firm’s finances. The job calls for someone who is knowledgeable about activities to make the firm more profitable and keeping those factors away that would bring losses to the company.
Duties and Responsibilities
There are the following duties and responsibilities of a financial controller which are expected to be fulfilled:
• The financial controller has the prime duty to prepare and maintain the financial reports, budgets, cost reports and financial forecasts.
• He or she has to review the work of the accounting staff, and the financial analysts properly.
• It will be needed to work as a mentor of the accountants for analyzing the accounting and analysis duties.
• He or she also has to ensure the accuracy of the financial records and the proper documentation as well.
• It is necessary to ensure that the books of accounts are compiled every end of the month and at the end of the financial year.
• He or she needs to maintain the collaboration with the accounts department in determining the level of profitability of the company.
• The controller has to make sure about the fiscal responsibility within the firm’s operations and that the decision makers in the firm understand the financial implications of the missions.
• He or she is responsible for any of the financial decisions made in the firm being an ultimate authorizing entity.
• He or she has to approve the finances of the specific projects by the firm and responsible for the budgetary control in a specific firm
• He or she needs to correspond with the senior management regarding any kind of financial decisions of the company.
Skills and Specifications
The required skills and specifications are as follows:
• The person needs to have a very deep understanding of the accounting principles and procedures.
• The person having a CPA license or past working experience in public accounting.
• It will be an added advantage for the person having required knowledge of Microsoft Access and Spreadsheet.
Education and Qualifications
• The basic degree required to do the job is a degree in Financial Accounting and Management to do the job.
• It will be an added advantage for the person having a CPA or an MBA degree.