Controller - chief accountant, Accounting Basics

Controller: Controller another name for Chief Accountant is generally the head of the whole region of accounting, including internal audit. He is generally in charge of all types of activities having financial accounting, management accounting, cost accounting and tax accounting. He exercises authority both for accounting inside the organization and for external reporting. The external reports comprise reports to government revenue collecting and regulatory bodies, as Company Law Board and Income Tax Department. He may supervise also the company's internal audit and control systems. Additionally to processing historical data, he is expected to give a good deal of accounting information to top management about future operations, in line along with the management's control and planning requirements. Besides, he is also expected to provide detailed information to managers in differ functional regions (as marketing and production etc.) and at diverse levels of the organization.

We may enumerate the roles of the controller as given:

a) Operating and designing the accounting system

b) Preparing financial reports and statements

c) Establishing and maintaining systems and processes

d) Supervising internal auditing and arranging for external audit

e) Supervising computer applications

f) Overseeing cost control

g) Preparing budgets

h) forming forecasts and analytical reports

 i)  Reporting of the financial information to top management

j) Handling tax matters.

Posted Date: 4/2/2013 6:59:35 AM | Location : United States







Related Discussions:- Controller - chief accountant, Assignment Help, Ask Question on Controller - chief accountant, Get Answer, Expert's Help, Controller - chief accountant Discussions

Write discussion on Controller - chief accountant
Your posts are moderated
Related Questions
Q. General-purpose financial statements? Accountants prepare general-purpose financial statements at usual intervals to meet many of the information needs of external parties a

At the end of the current year, $19,900 of fees have been earned but not billed to clients. a. What is the adjustment to record the accrued fees? Indicate each account affect

A company has been depreciating its IT equipment over 5 (five )years, but now finds that it is becoming obsolete in 3 years.   What does the consistency principle allow the comp

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

office supplies on hand at year-end amounted to 3000.

XYZ Technology had $640,000 of retained earnings on December 31, 2010. The company paid common dividends of $50,000 in 2010 and had retained earnings of $500,000 on December 31, 20

Assorted fund, a U.K.-based globally diversified equity mutual fund, is considering adding Talisman Energy Inc. (Toronto Stock Exchange: TLM) to its portfolio. Talisman is an indep

Enumerate the term- Cash discounts Offered to encourage prompt and early payment by buyer. Cash discounts are recorded in accounting records of both the buyer and the seller. S

How do you do cross-indexing?

Q. Explain about Traditional accounting theory? Conventional accounting theory consists of underlying assumptions rules of measurement major principles and modifying convention