Question

"Controller" is the job title for someone who is responsible for high-level accounting, managerial accounting, and finance activities. A controller needs ____

Answer 1

to have an accounting or finance experience

Step-by-step explanation:

A controller in accounting is the chief accounting officer and plays an important role in heading the entire accounting department. A controller is an individual who has responsibility for all accounting-related activities, including high-level accounting, managerial accounting, and finance activities, within a company. A controller typically reports to a firm's chief financial officer (CFO), although these two positions may be combined in smaller businesses. The duties of a controller include assisting with the preparation of the operating budgets, overseeing financial reporting and performing essential duties relating to payroll. Some of the many things that the controller will oversee is the drafting of financial statements, updating the general ledger, processing cost accounting paperwork, completing payroll, processing accounts payable and receivable, budgeting expenses, stay compliant with tax laws, and analyzing financial data. In addition to supervising all of these activities, the controller will coordinate with management in other departments to interpret management accounting information and to address areas where the company can save. As a controller, you are committed to accurate reporting, formatting reports, budgeting, compliance, financials, tactics and what is currently going on in the organization. As a CFO, you are committed to analyzing records, forecasting, spotting key indicators, implementing budgets, strategy, and how financial status affects the big picture.

Answer 2

The correct answer to this open question is the following.

"Controller" is the job title for someone responsible for high-level accounting, managerial accounting, and finance activities. A controller needs a feedback loop.

In the corporate world, the Controller of a company is the person who is responsible for the supervision of the accounting and finances of the organizations. It is an important function because the Controller has to very that every accounting system and the procedure was done in the right way. The Controller oversees the annual budget and revises the financial report so every aspect of the company's finances does not have any problem. That is why it needs constant feedback from all the departments.