Our Controller is responsible for all the accounting operations within a business. The responsibility is split into the following five general areas:
- Management. This involves overseeing the operations of the accounting staff, as well as of any outsourced activities. There should also be a management infrastructure in place, such as policies, procedures, and calendars of activities.
- Transactions. This involves the proper processing of all types of business transactions, which includes supplier invoices, billings to customers, payroll, and cash receipts and disbursements. It also requires the use of a system of controls to ensure that transactions are processed properly, and a record keeping system in which transactions are recorded and archived.
- Reporting. This involves the preparation of the standard set of monthly financial statements, as well as a variety of management reports.
- Planning. This involves coordinating the creation of the annual budget, as well as the investigation and reporting of any subsequent variances between it and actual results.
- Compliance. This involves compliance with a variety of tax reporting requirements, government reports, debt covenants, and accounting standards.