FAQ - What does a Controller Do?

When scaling your small business there will come a time when you need additional information, financial metrics and strategic advise.  In order for companies to best use their financial information to make quick and smart decisions, a higher level of precision is usually required. 

A controller typically oversees a large portion of the finance function and ensures that the day-to-day operations of a finance department are effective, efficient and compliant.

A controller’s tasks may include, but are not limited to:

• Building budgets and forecasts, and reporting against them.
• Managing and planning cash flows.
• Calculating break-even 
• Help you assess new opportunities
• Month over month, year over year variance analysis
• Industry benchmarking
• Ratio analysis
• Managing the accounting and administrative staff of an organization
• Ensuring month-end procedures are completed in a timely manner
• Preparation of month-end and annual financial statements
• Preparation of working papers to streamline year-end financial reporting
• Create accounting policies and ensure the rest of the team(bookkeeping, accounts payable/receivable, payroll) are abiding by them
• Strategic planning and advice
• Creation and monitoring of internal control systems
• Managing and reporting KPIs
• Working with your year end accountants to ensure your annual taxes are completed accurately and on time
• Coordinating and managing audits
• Making sure you are up to date with the CRA