Controller Work

Controllers are appointed to exercise control and supervision over the accounting department of an organization. They are the highest authority in accounting department and are liable to ensure accuracy and legality in accounting functions. Controllers are responsible to analyze the trends in incomes and expenses of the organization. They provide vital data to the financial experts who use it for decision making. Find below a detailed description of the controller work profile.

Job Nature

Controller performs work that is analytical in nature. They also perform certain supervisory and advisory functions. Controllers must have the knack of identifying the mistakes in content and finding ways to correct it. Being a high management post, they perform leadership functions as well. Their position helps to keep track of the accounting functions and ensure adherence to set standards.

Work Responsibilities

The responsibilities tend to change in scope and scale with the organization and the controller's role in decision making. We have jotted down the most prominent responsibilities handled by the controller:

• Make certain the accounting documents comply to the accuracy and legal standards
• Ensure all incomes and expenses are accurately recorded
• Assist in the accounts analysis, financial planning, and budget management functions
• Estimate the prospective financial conditions, threats and opportunities
• Present the true financial position of the organization during the management meetings
• Organize the accounting reports of all departments in an organization

Work Requirements

Knowledge: All candidates keen on making a career as a controller must possess a master's degree in accountancy. It is better if the candidates boast qualifications as CPA, CIMA, or CWA. Additionally, one needs to begin career as accountant and gain sufficient experience to qualify for the position of controller.

Skills: The important skills required for controllers are aptitude for accountancy, ability to make quick calculations, analytical skills, strong managerial skills, ability to identify inconsistencies and mistakes and competence to make financial decisions.

Work Environment

Place: All controllers work in typical offices with spacious interiors. Most have a separate cabin to work. They rarely work outside their offices or travel.

Timings: Controllers work for typical 45 hours/week and are entitled to receive public holidays. They may put in additional working hours during accounting closures.

Stress: Controller job can be stressful if the accounts mismatch and do not produce accurate results, especially during the audit and financial planning. Otherwise controller job is not subject to any major stress levels or health hazards.

Career Prospects

• Accounting is the most essential aspect of any organization. A controller is the highest authority in accounting department. Hence, controllers get hired in all organizations, from government, manufacturing, services to retails shops.
• Growing economy, globalization, changing accounting regulations, mergers and acquisitions are common factors contributing to need for controller
• Controller is a top management level job. There is only one controller for every organization. Hence, the number of jobs available is less.
• Controller jobs demand extensive knowledge and experience, which makes acquiring jobs difficult for candidates

Difference between controller and other accounting profiles

• A controller is a part of the accounting department. He belongs to the top management level and hence enjoys a better stature than other accounting profiles of bookkeeper, accountants, managers, etc. They are responsible to draft reports, verify accuracy in content, and handle the accounts department.
• A controller, also known as the comptroller, enjoys a status similar to a CFO. However, the nature of work and responsibilities differ. A controller is an expert in accounting whereas a CFO is an expert in finance. CFOs participate in making critical financial decisions. A CFO has higher responsibility and bigger role to play in an organization

Controller work profile enjoys a high regard and position in an organization. But it comes with high level of responsibility. Hence job seekers need to study extensively and gain strong experience to qualify for controller jobs and have a successful career.