At any enterprise, economic and economic control is very important. Responsibility for this work rests with the financial controller. The duties, functions and features of the representative of this profession will be discussed in this article.
About the profession
A financial controller is a specialist who maintains the information structure of an enterprise, conducts various audits, monitors accounting for compliance with standards, and deals with many other matters in the field of finance and economics. Every enterprise must have a financial controller. That is why the profession in question is so important.
Being a financial controller is not so simple. It is necessary to conduct your activity very carefully. After all, the main task of the representative of the profession in question is to search for shortcomings and errors in the enterprise. However, if the financial controller works smoothly and competently, then in the future he has every chance to become a financial director.
Responsibilities of the Comptroller
Any employee has his functions and responsibilities.
The financial controller is no exception. The duties of a representative of the profession in question, it must be said, are very extensive. Here are just a few of them:
- Drawing up, analysis and control over the enterprise budget.
- Preparation of financial statements in accordance with established standards.
- Participation in the achievement of enterprise performance indicators.
- Work on minimizing enterprise losses.
- Drawing up financial forecasts.
- Assessment of financial performance.
The financial controller also has many other responsibilities. However, listing them all will be difficult. It is worth adding only one thing: the profession in question is very complex and to some extent difficult. But this is its prestige.
Functional features of the financial controller
All duties performed by a specialist apply only to certain job areas.
Thus, the representative of the profession in question is only responsible for certain functions of a particular enterprise. What kind of functions can these be?
Firstly, this, of course, is a different kind of relationship with financial organizations, banks, government bodies, etc. Secondly, this is the organization of accounting management, its preparation. Thirdly, it supports decision making.
The most important and basic functions were named above. But here can be attributed some other powers. This, for example, the implementation of internal control operations , support for business projects, etc.
Education required
It’s just that you cannot get a single good position. The financial controller must also be an educated person.
About where exactly you can learn to work in the profession in question, will be described later.
Specialists in the field of economics must have a higher economic education. The same goes for the financial controller. But, among other things, such a specialist should have good knowledge in the field of accounting. Simply put, you still need to grow to the position in question: you will have to work as a simple accountant for some time.
If you need to work in an international company, you will have to get a special certificate (CIPA, IFRS). In addition to this, you must know at least two foreign languages (one of them is English).
Thus, the financial controller is a specialist who must possess an extremely wide range of knowledge.
On the responsibility of the financial controller
In the profession in question, there is a special job description. The financial controller, according to this document, is vested with certain rights and obligations.
There is a section on employee liability. What is spelled out there?
- The financial controller is responsible for meeting deadlines for the performance of his functions.
- The specialist should be responsible for complying with the rules for accounting. It is necessary to observe the accounting rules in the enterprise, as well as carefully monitor the implementation of tax legislation.
- The financial controller is responsible for the safety of all existing assets of the enterprise.
Rights of the financial controller:
- Block payments.
- Interact with government, government and statistics.
- Interact with audit companies, banks.
- Make decisions on costs (in accordance with established standards - up to a certain amount).
Qualities and skills required for work
As in any other work, representatives of the profession in question need certain qualities, skills, character traits, etc.
A full range of powers and rights is vested in the financial controller.
His job responsibilities are incredibly extensive because of this. Of course, not everyone can take a prestigious position of controller. That is why a person who wants to get this job needs to have certain qualities. These include: attention to detail, the ability to correctly prioritize, sociability, stress resistance and much more.
The financial controller and certain skills are extremely necessary. This is an introduction to SAP, ERP, Sage, etc. Systems. One needs to have excellent knowledge on business restructuring, as well as on "mergers and acquisitions."
Only with the above qualities, knowledge and skills can one hope to receive the coveted position.
About career growth
Of course, job description will not say anything about the career growth of a specialist.
Nonetheless, the financial controller has great opportunities to improve his skills, knowledge and abilities, as a result of which he can advance even further up the career ladder. What opportunities does the representative of the profession in question have?
Mastering new systems by a specialist (for example, MBA) will help him significantly increase all chances to become a financial director. Thanks to hard work, there is an opportunity to grow to the CEO. But for this it is necessary, of course, to master new skills, abilities, acquire valuable experience, introduce more and more working systems, etc.
It is worth saying that many financial controllers are still satisfied with their workplace and are not particularly keen to occupy higher positions. After all, there are many people subordinate to the representative of the profession in question. These are all kinds of specialists, financial department assistants and other company employees.
On the advantages and disadvantages of the profession. Reviews about the profession
The advantages of the profession in question are obvious: this is a high salary, and prestige, and the possibility of rapid career growth.
This also includes work with subordinates, supremacy over all accounting, as well as some freedom of action.
Of the shortcomings it is worth highlighting, of course, an excessively high responsibility. Indeed, almost the entire budget of an enterprise is kept on the financial controller. This also includes the difficult development of various special systems, as well as the difficulty of working with them. Interaction with subordinates can be attributed to both the merits of the profession and the disadvantages. Here, everything will depend primarily on the controller itself.
And what do the financial controllers themselves say and write about their profession? Perhaps this is worth knowing, because it is from them that you can get the most reliable information about the profession. Here are some reviews:
"The main thing is to show a real, lively interest in the company in which you work. It is necessary to really root for it, perhaps even live by it. Only then will the work be truly loved and valuable."
"The main thing in my work is discipline. Only by planning every little thing in advance can you succeed. There is no mistake in the work of the financial controller."
"My profession is really difficult. It can simply be impossible to keep track of everything. However, competent planning of activities helps out. It is important to understand that you have a huge responsibility. Often, understanding this stimulates effective work."
Almost every financial controller is proud of his profession. Reviews about the work are usually positive. And it is completely justified.