What are some essential responsibilties for a Controller of an Accounting Dept?
Asked by Rainey
For example, what would a normal days work consist of and for someone who's still in college what are some areas of study they should focus on?

Best Answer:
Almost every firm, government agency, and other type of organization has one or more financial managers who oversee the preparation of financial reports, direct investment activities, and implement cash management strategies. Because computers are increasingly used to record and organize data, many financial managers are spending more time developing strategies and implementing the long-term goals of their organization. The duties of financial managers vary with their specific titles, which include controller, treasurer or finance officer, credit manager, cash manager, and risk and insurance manager. Controllers direct the preparation of financial reports that summarize and forecast the organization’s financial position, such as income statements, balance sheets, and analyses of future earnings or expenses. Controllers also are in charge of preparing special reports required by regulatory authorities. Often, controllers oversee the accounting, audit, and budget departments. Treasurers and finance officers direct the organization’s financial goals, objectives, and budgets. They oversee the investment of funds, manage associated risks, supervise cash management activities, execute capital-raising strategies to support a firm’s expansion, and deal with mergers and acquisitions. Credit managers oversee the firm’s issuance of credit, establishing credit-rating criteria, determining credit ceilings, and monitoring the collections of past-due accounts. Managers specializing in international finance develop financial and accounting systems for the banking transactions of multinational organizations.
DOL
Answered by Jessica M

o Direct the approval of the manufacturing operations business plans, budgets and capital spending; provide financial leadership and support to NA operational management in their deployment and hold operations management accountable for financial results. o Analyze financial reports for variances from forecasted, budgeted, and benchmarked performance and provide recommendations to operations management for profit improvement alternatives o Establish and maintain adequate internal controls to safeguard inventory and fixed assets. o Strengthen the plant control functions by attracting and developing talent. o Perform timely and insightful financial and operational analyses, and present the related data, information and reports to the operations management team for review, decision-making and action. o Analyze financial results against both plan and historical data to recommend appropriate actions to maximize future financial performance.
Answered by mochabud2660

I highly doubt you're going to end up as a Controller directly out of college. A controller typically reports directly to the CFO (or assistant CFO, depending on internal structure) and is responsible for the entire G/L.
Answered by intelbarn