Duties and responsibilities of financial controller?

Answer 1

Budgeting

o One of the most important roles of a finance controller is setting a company's budget. This process involves allocating resources to support development, while still keeping an eye on the profitability of the company. Common budgeting tasks include presenting and reviewing budget requests, monitoring execution of approved projects and ensuring compliance with the company's fiscal policy.

Soliciting Funds

o Closely tied to her role monitoring the budget, often a financial controller is also responsible for soliciting funds to aid in the company's growth. This task involves handling acquisitions and mergers, managing investments and in some cases directly soliciting funds.

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Monitoring Payroll

o Financial controller also approve and monitor payroll expenditures while always keeping in mind the status of the budget. Common payroll tasks include setting salaries for new positions, approving raises and identifying extraneous personnel as a cost-saving strategy.

Data Analysis

o The roles of financial controller have changed a great deal thanks to technological advances that have reduced the amount of time they spend compiling financial reports. Instead, financial executives allocate more of their time to analyzing the data in those reports, searching for areas where they can increase profits and then adjusting the company's financial future based on their findings.