A financial controller can also be called a financial manager. These employees are in charge of making sure that the company they work for is financially sound. They can achieve this goal by having a system in place that forecasts the financial future of the company as well as analysing the monthly costs of the company to see where savings can be effected. Basically a financial controller assumes the same role in a company as the budget-keeper of a family home. If the budget is good and well planned, the outlook of the family's future will be good. It is no different in business.
It is also the financial controller's responsibility to keep the accounting books / financial books of the business up to date and report any issues to the managing director/owner of the company immediately. Sometimes a certain degree of knowledge of the law regarding finances is indispensable in the career of a financial controller.
The daily responsibilities of a financial controller include managing all company accounts and drawing reports on these accounts for the perusal of the owners of the company on a monthly basis. All budgets need to be worked out and kept up to date throughout the year. A financial controller usually has a team working under him/her and these employees need to have constant training to ensure the latest software and methods are used to keep the company's finances in good health. Additionally:
- Regular reporting on progress is a prerequisite
- Working overtime is usually required at month-end