A Career As A Controller
Controllers and other financial managers evaluate how persons, businesses, and organizations use monetary resources.
This includes the accounting and financial reporting, budgeting, collecting accounts receivable, risk management, and insurance for a business.
What They Do: Controllers plan and coordinate the financial activities of an organization at the highest level.
They prepare financial reports that summarize and predict a companies financial position.
They are responsible for overseeing the preparation of financial reports such as income statements and balance sheets.
These professionals make key decisions on how money will be spent to get projects done, and consider the costs and benefits of the expenditures.
They must also be able to identify current and potential financial problems and evaluate options to implement solutions.
Adhering to regulatory practices by preparing necessary reports to regulatory authorities is another part of the controller's job.
Controllers usually supervise accounting and credit departments.
Training: A bachelor's degree in finance or accounting, or a similar area is the basic academic preparation, but a master's degree in business administration, or economics is pretty much a requirement for someone who wants to be a controller.
In degree programs, you will learn analytical skills and receive training in the latest financial methods and technology.
Continuing education in a necessity as financial management professionals need to keep up with a growing global economy and updated state and federal regulations related to finance.
Along with extensive education, financial managers need to have great communication skills so they can convey and explain complex financial issues.
Creative thinking, problem solving skills, and strong computer skills are also extremely important for work in the capacity of controller.
Outlook: There is an increased need for financial experts at this time as many businesses are growing in a strong economy.
There will however be strong competition for jobs and those with a master's degree will be the most sought after.
The median salary for controllers in the United States was $172,008 in 2007.
This includes the accounting and financial reporting, budgeting, collecting accounts receivable, risk management, and insurance for a business.
What They Do: Controllers plan and coordinate the financial activities of an organization at the highest level.
They prepare financial reports that summarize and predict a companies financial position.
They are responsible for overseeing the preparation of financial reports such as income statements and balance sheets.
These professionals make key decisions on how money will be spent to get projects done, and consider the costs and benefits of the expenditures.
They must also be able to identify current and potential financial problems and evaluate options to implement solutions.
Adhering to regulatory practices by preparing necessary reports to regulatory authorities is another part of the controller's job.
Controllers usually supervise accounting and credit departments.
Training: A bachelor's degree in finance or accounting, or a similar area is the basic academic preparation, but a master's degree in business administration, or economics is pretty much a requirement for someone who wants to be a controller.
In degree programs, you will learn analytical skills and receive training in the latest financial methods and technology.
Continuing education in a necessity as financial management professionals need to keep up with a growing global economy and updated state and federal regulations related to finance.
Along with extensive education, financial managers need to have great communication skills so they can convey and explain complex financial issues.
Creative thinking, problem solving skills, and strong computer skills are also extremely important for work in the capacity of controller.
Outlook: There is an increased need for financial experts at this time as many businesses are growing in a strong economy.
There will however be strong competition for jobs and those with a master's degree will be the most sought after.
The median salary for controllers in the United States was $172,008 in 2007.