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What Does a Finance Controller Do?
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  • Written By: Elva K.
  • Edited By: Heather Bailey
  • Last Modified Date: 14 March 2012
  • Copyright Protected:
    2003-2012
    Conjecture Corporation
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Finance controllers have knowledge of all aspects of a company's finances. For example, the finance controller does job tasks such as preparation of financial statements, budget reports, forecasts, cost analysis reports, profit or loss statements, recommendations for spending or cost cuts, SEC reports, and supervision of other accountants in the company. Also, the finance controller makes certain that the financial books are prepared accurately, that all aspects of the company's finances are properly documented, that any money that is due to the company is collected, and makes sure that any company expenses are paid.

In addition, the finance controller will also provide financial analysis and financial advice to the chief executive officer (CEO) of the company at any time the company is involved in business transactions or acquisitions. In some cases, finance controllers may provide legal advice as well. Many finance controllers have law degrees in addition to their certified public accounting (CPA) credentials. Having had both accounting experience and legal experience means finance controllers can often see multiple perspectives of a business deal, and this means they can be very useful advisers for the CEO.

Finance controllers do a significant amount of computer work as part of their job. For example, accountants typically use accounting software to help them to keep financial records and prepare accounting reports. Use of Microsoft Excel is just the tip of the iceberg. Finance controllers have budget software, forecasting software, and other specialized software they use. Also, there are typically annual updates in accounting software, which means finance controllers may spend a significant amount of time each year keeping pace with new information.

There are various career paths that a finance controller could take. For instance, after gaining experience as a finance controller, it is possible for one to be promoted into higher positions such as vice president of finance operation or even chief executive officer. Or, one could go back to school to get a Doctor of Philosophy (PhD) degree in accounting to become a college accounting professor. By contrast, if one wanted to stay in the business world but not as an accountant, one could find work as a recruiter in a third-party staffing firm that specializes in recruiting accountants for companies.

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