An accounting controller is responsible for the overall control and compliance of accounting procedures within an organization.
Working in a role of great responsibility, the accounting controller handles the management of accounting policies and procedures, accounting transactions, reporting, and compliance.
Under each of these heads, there are many responsibilities that an accounting controller is entrusted with.
Eligibility Criteria
To be eligible for an accounting controller position, one needs to possess a bachelor’s degree in accounting at the very least.
Of course, preference is usually given to people who are certified public accountants.
Skills and Abilities
Since accounting controllers have a lot of ground to cover because of the nature of their job, they need to be alert at all times and possess the ability to multitask as well.
Working with numbers and performing calculations on a constant basis can be quite jarring, which is why it is essential for account controllers to have a clear mind.
Enhancing the accuracy of a company’s financials is the essence of an accounting controller’s work which is why it is important for them to be detail-oriented and possess knowledge of generally accepted accounting principles and international financial reporting standards.
See also: Accounting Controller Resume
Principal duties of an accounting controller include:
Accounting Controller Duties and Responsibilities
• Maintain a system of accounting policies and procedures by ensuring appropriate documentation is being followed.
• Oversee the operations of the accounting department to ensure that the set organizational structure is capable of achieving the company’s financial goals and objectives.
• Supervise the accounting operations of subsidiary or sister companies with a special focus on transaction processing techniques.
• Ensure that outstanding payable amounts (accounts payable) are paid on time and all reasonable discounts are managed on AP.
• Follow up on accounts receivables to ensure timely collection.
• Study periodic bank statements to ensure reconciliation is done appropriately.
• Pay off any debts on an immediate basis and enquire into pending debt payments.
• Maintain accounting filing systems and charts of accounts in an orderly manner.
• Create and issue complete financial statements in a timely manner.
• Handle annual budgets and forecasts and issue financial and operating metrics.
• Provide financial analysis for capital investments and pricing decisions.
• Collect and organize accounting information for the purpose of providing it to external and internal auditors.
• Ensure compliance with debt covenants and monitor debt levels.
• Manage the productivity of day-to-day activities of accounts management.
• Work with the management to develop and evaluate fringe benefits programs for staff and program components.
• Oversee financial and grants accounting and ensure that expenditures are properly aligned with program budgets.