What I am going to discuss with you today will be the roles of the financial controller and his importance, and he is a designation capable of setting financial policies and directions of the organization. Further financial control is required to manage all the financial affairs of the organization.
The financial controller is responsible for the business accounting activities. he plans the finance, prepares financial statements, budget for the organization, and does the presentation of statements to the members of the organisation. He may also be involved in negotiations with the insurance companies on behalf of the organisation. The financial controller oversees the daily activities of the finance team and ensures the companies finance function is organised and efficient and produces accurate financial and management accounts.
•Management of the finance function and overseeing the finance team.
•Preparation of budgets, forecasts and cash flows
•Maintenance of financial ledgers and accounting processes
•Preparation of Monthly Consolidated and Balance Sheet
•Timely production of statutory and internal financial reports
•Financial modelling and analysis
•Cash management and treasury duties
•Ensuring that appropriate systems and internal controls are implemented and maintained
•Overseeing the Payroll process
•Preparation of VAT returns nature of the work
A financial controller, or financial director, oversees a company’s financial accounting and reporting activities. At the end of each month or quarter, he prepares GAAP accounting reports, such as balance sheets, statements of income, statements of cash flows and statements of equity. A finance director usually has a master’s degree in accounting, auditing, taxation or finance. Finance controllers with significant managerial duties usually hold certified public accountant or certified financial manager licenses.