Controller

FACTS:

• Controller or comptroller? The words mean the same thing and are sometimes pronounced the same. Comptroller is the older of the two words.
• According to the Bureau of Labor Statistics, the average controller earns $119,000 annually. Based on Monster's job listings, temp controllers can earn $35 an hour.
• Ancient Egyptian bookkeepers were honest folk probably because the punishment for irregularities found by auditors included fines, mutilation or death.

THE JOB:

As the chief accountant for a company, the controller predicts, manages and analyzes a firm's financial condition. A controller sets the company's accounting policies and supervises the people who carry them out. This includes forecasting the company's financial position, budgeting, and managing the general ledger, accounts receivable/payable and payroll as well as cash management and financial reports. The organization for which you work makes a difference. Government controllers work with a public budget process and use governmental accounting. A nonprofit controller works with a different set of tax rules than a for-profit controller. At smaller firms, controllers may negotiate contracts and manage other departments such as human resources or information technology.

SKILLS:

A thorough understanding of corporate accounting is a must, including balance sheets, income statements, cash flow, capital budgeting, profit and loss, the time value of money, pro form a statements, and mergers and acquisitions. You’ll also need leadership skills, organization and the ability to motivate the accounting team. Strong communication ability is also needed for conveying your point in senior management meetings. Proficiency in spreadsheet and database applications such as MS Excel, QuickBooks Pro and industry-specific software is required.

EDUCATION:

A bachelor's degree in accounting or finance may get you a job at a small firm, but being a Certified Public Accountant (CPA) or having a master's in business administration (MBA) is more common.

OUTLOOK:

The overall outlook for controllers is good, particularly for those with strong credentials, like an MBA or CPA. The top candidates in this field have solid computer skills, excellent accounting knowledge and communicate with poise and assurance.

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