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A career as a division controller is suitable for a person with excellent mathematical skills and the ability to manage finances. These individuals usually report to an executive or president, and monitor a company's financial situation. To obtain this position, candidates must generally possess a bachelor's degree in finance, accounting or a related field. While the specific type of company that a division controller may work for can vary, his responsibilities are essentially the same. These include observing financial data, determining profitability, monitoring company budget, preparing reports and reporting findings to department heads.
Observing financial data on a regular basis is an integral part of being a division controller. To perform this job effectively, the controller must always be aware of his company's financial situation and stay up to date on industry trends. For example, he might compare the revenue of the current month with the revenue of previous months. In addition, he might perform research on the general industry that his company is in. This practice helps a division controller understand how well or poorly his company is performing at all times.
Another important part of this job involves determining a company's profitability. For this, a division controller will usually compare both company revenue and the total amount of sales from each month. Maintaining accuracy is critical, so it's important for a division controller to be organized and extremely detail-oriented.
Monitoring company budget is also a necessity. In most cases, this involves doing accounting on a daily basis and keeping up with all company's expenses. To minimize profit losses and provide investors with the maximum returns, it's crucial for a division controller to always be aware of the budget and avoid overspending.
Along with this, an individual in this position will usually be required to prepare financial reports. In general, a division controller will print out daily, monthly, quarterly and yearly financial reports. These reports make it easy to visualize a company's financial situation and evaluate performance. Furthermore, the quarterly and yearly reports are often used for tax purposes. To produce reports, the controller will typically use a computer software program, so he must also have reasonable computer skills.
Additionally, a division controller will often report his findings to department heads. Since he is usually the financial expert, he must keep an executive or company present informed about his company's financial situation. To accomplish this, he may present reports or give presentations. This aspect of the job requires someone with excellent communication skills.
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