A company’s controller is the chief accounting officer and is responsible for overseeing all accounting functions of the company. This includes oversight of all the general ledger accounts, as well as preparation of financial statements. Cost control policies also fall under the direction of the chief accounting officer. Whereas the CFO considers every financial and operating function of the company, the controller focuses on the day-to-day aspects of costs and accounting.
Examples of Optimized Controller Services Engagements
- Monthly bank and credit card reconciliations
- Period-end balance sheet tie out and adjusting journal entries
- Tax return support or preparation
- Preparation of clean financial statements
- Surface-level analysis of financial statements (prior year or prior period comparison)
- Temporary fill-in for your accounting department (short-term medical leave or personnel turnover)
- Access to critical-thinking accountant without hiring a full-time controller
Hiring an Outsourced Controller will Remove the Frustrations You Have with Your Accounting Department
Business Scenario
Meet Mary. Mary is the manager
Mary is a good candidate for an Outsourced Controller Services engagement. Mary’s team can handle the day-to-day operations but Mary needs a little help with the month-end close and reviewing the financial statements.
Using outsourced controller services, Mary optimizes her accounting. She meets monthly to review the financial statements. Any obvious errors or questionable accounts are looked at, and Mary is now fully confident in understanding the financials, and quickly able to answer any questions from her banker.