Corporate Controllers Are Responsible For The Accounting

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According to AccountingTools (n.d.), corporate controllers are responsible “for the accounting operations of the company,” including: the development of recurring financial reports, “maintenance of … accounting records, and a comprehensive set of controls and budgets designed to mitigate risk, enhance the accuracy of … reported financial results, and ensure that reports results comply with … financial reporting standards” (para. 2). In other words, controllers are the chief accountants in their organizations. Besides their basic daily accounting functions and managing the accounting staff, controllers must maintain internal controls and assume expanding responsibilities in their firms to reflect the changing roles in the controllership position. In a typical midsize or large business, the accounting department will usually have accounting clerks, payroll clerks, staff accountants, senior accountants, an accounting manager, and other accounting positions (e.g., accounts payable clerks, accounts receivable manager, etc.). However, most accounting departments of midsize or large corporations will be led by a controller or someone with similar responsibilities (e.g., finance director, etc.). Controllers are essential to a company’s back office operations. For instance, they are responsible for the timely completion of payroll, manage the daily functions of accounts payable and other cash disbursements, comply with government reporting and tax requirements, and ensure the

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