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Business Accounting and Bookkeeping
Business and Industry

What is controllership?

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November 18, 2011 3:02AM

Simply, it is 'doing the right thing' in relation to working for your employer. The individual should operate in a manner that enhances or maintains company assets and maximizes quality and productivity. This would include maintaining accurate records of business transactions and following accepted accounting principles and laws. In addition, assets are enhanced through sound risk-based decisions. Examples of 'doing the right' thing would be protecting intellectual property by not disclosing proprietary information and insuring appropriate patent activity be instituted. Another example would be to insure internal transparency (for instance sales forecasts and accurate accounting). The employee would also take responsibility in managing personal expenses.