In this article, we will be analyzing and explaining the controllers position entails, how their position fits into the category of Public Servant, and to teach citizens in each community correct information in regard to the above question.
Definition of A Controller
The main duties in the controller position include numerous different financial responsibilities. First off, as the job’s title insinuates, the Controller is to basically “control” the the ease of accessibility to the monies belonging to a corporation. They have an incredible amount of responsibility in regard to the different financial aspects they must keep maintained in an orderly fashion. Now, regardless of the trust and responsibility in charge, in most circumstance, purchases and transaction must be approved for the controller before conducting the transaction; this, of course, is for the safety of everyone involved.
Most of the time, the position the controller occupies is part of a larger organization. This enables the accountability of of everyone with financial access, including the controller, and keeps the company’s books secure. The roles of Chief Financial Officer and Controller may be consider one position when it comes to smaller corporations or companies.
Controllers, together with their staff, if any, will conduct regular reviews and analyses, as well as submit reports regarding all aspects of current finances at the time of the review. These reports are turned over to upper management, as they are vital to continuing health of the company.
Additional Responsibilities and Definition
Different tasks the controller covers are also defined below:
- Financial Accounting, or, the preparation of financial statements.
- Cost Accounting, which is accounting of the companies operating budgets.
- Preparation of reports for federal and state tax services.
- Data processing of accounts and payroll.
In addition to the responsibilities listed above, the controller is also a direct participant in purchasing, setting prices on product as well as the service offered to customers by the company. In smaller companies, the comptroller’s job description may span over the responsibilities of many different positions; in a larger corporation, however, a larger corporation may have a team of numerous comptrollers all working together for the common goal. A more elaborate description of the actual position can be found at financecareers.about.com. Another clear definition of a controller is given at Investopedia.com. Their definition explains the position as one who has control, or responsibility, over a companies accounting procedures, considered the head accountant, holding a position of management in the company.
The two links provided above provide excellent job descriptions regarding what the comptroller position entails, and with all that is going on in the economy, people want to understand the exact job of anyone that may be handling their money. It is very important to ourselves as well as our families and extended loved ones that we educate ourselves, as well as those around us to these positions. It will help us to keep our finances safe and secure, especially for small business owners as well as anyone considering adding this position to they payroll, but do not know what it entails. Because controllers are usually employed by federal, as well as state and local governments, this question is most certainly an important on worth asking and learning about for the security of knowledge.