The business controller in an organization may oversee the accounting department, direct the financial plans of the business and develops the objectives of the organization in financial matters. The position is attained after considerable experience and many controllers have moved into the controller job after working in a business for many years.
The Facts
Business controllers set the financial objectives and goals of the organizations where they hold the position. The controller directs and plans financial activities and monitors the accounting department in the business. This position is responsible for financial reports to stockholders and tax returns as well as financial reports created for inside the organization.
The controller directs investments and budgeting in the business. When a business builds new offices or makes purchases of large equipment, the controller sets the budget and determines the amount of money that will be spent on the project. This position may determine the budgets for each department within an organization.
Function
The business controller reports directly to the president in an organization. The position requires extensive experience in financial matters. Controllers may determine the accounting method used in the organization.
Significance
The controller plots the financial future of an organization and has a large role in the success or failure of the business. The business controller may audit the work of the accounting and bookkeeping department to ensure that information is accurate.
Qualifications
The controller position requires a candidate with an extensive education in accounting, finance and business. Applicants for a business controller should have a master’s degree in accounting or business administration. The position also requires experience in accounting and finance. A business may require a controller to have up to 15 years of experience in the field for consideration for the job, according to Salary.com. Applicants for a position as a controller should focus on cost accounting or budget accounting.
Salary
The median salary for a business controller is $165,661 as of November 2009, according to Salary.com.
