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FINANCIAL CONTROLLER
How a Financial Controller can
keep your business on track
and help it grow
Nov 2015
What skills can a financial controller bring?
They offer valuable skills: Help with managing your finances
A fresh perspective to your financial activities
Ability to pre-empt future challenges
Help with planning for growth
Reduction of risk by instigating better controls, greater flexibility
and improved processes
Not just a senior manager with accounting experience: Unlike a bookkeeper or compliance accountant they can be the
most senior finance and accounting person in a business
Provides financial leadership as well as being instrumental in
forming accounting strategies
Educated to degree level with an additional qualification from
one of the professional accounting bodies – ACCA, CIMA or
ICAEW
Responsibilities fall into four areas
The responsibilities of a financial controller focus on four
broad areas:
Accounting
Making sure all accounting allocations are made and recorded
In smaller companies – manages and performs cash management
functions
Overseeing accounts payable and receivable, cash disbursements,
payroll and bank reconciliation functions
Internal Controls
Instigating and implementing controls over the company’s accounting
and financial procedures
Reviewing invoices to be paid and accounts receivable aging reports
Liaises with external tax accountants for income tax preparation and
with auditors preparing the company’s annual audit
Responsibilities fall into four areas (contd)
Financial Planning and Reporting Negotiating lines of credit, vendor agreements, reviewing financial
contracts, financing agreements and insurance policies
Provision of accurate and comprehensive financial information to
enable preparation of long-term financial strategies
Financial reporting duties:
preparation of financial statements
balance sheets
cash flow reports
budgets and financial projections
Financial Analysis Assessing risk
Analysing efficiency
Informing policy decisions made by executive management
Providing an expert financial perspective and opinion
Insourcing reliable, expert advice
Uncertain economic times means getting reliable and current
financial information from a financial controller is crucial
Many SMEs can’t justify the cost of hiring this resource or may need
short term help so insourcing is a great way to bring experience and
insight to a business at a fraction of the cost of employing someone
Insourcing offers flexibility and less financial and employment risk
Bringing in hands-on help can enable staff to concentrate on the
important goal of growing the business
Contact usEFM’s financial controllers offer a service that focuses on the application of
strong financial reporting procedures at a critical stage of business growth.
Take advantage of the expertise of some of its most specialist members on a
part time basis by requesting this service now.
Day rates, monthly rates and annual rates are available. Contact us for more
information.
EFM Financial Management Limited
AW House
6-8 Stuart Street
Luton
Beds LU1 2SJ
Tel: 01582 516300 or 0845 129 9900
Email: [email protected]
Follow us on Twitter @efmuk and LinkedIn
