What is Controllership?
Controllers have the primary responsibility of managing the costs and finances of organizations. Those with careers in controllership write reports, conduct analysis of corporate funds, and have the final word on approving expenditures. Most controllers have bachelor's degrees, such as the Bachelor of Science in Accounting. Learn more about controllership here.
An Overview of Controllership Careers
<p>There are a variety of career options available to students who graduate from accounting programs, including controlling. For instance, they might pursue careers in government accounting, public accounting, and internal auditing. Controllers evaluate and make available well-timed financial data to decision-makers. This data assists managers in improving the total performance of their organizations. In contrast to conventional accountants who assess historical performance, controllership professionals anticipate and resolve future challenges.
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<h3 id="section---ImportantFactsAboutControllership">Important Facts About Controllership</h3>
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<table border="1"><tr><td> Median Salary (2021) </td><td> $131,710 (<i>for financial managers</i>)</td></tr>
<tr><td> Job Outlook (2021-2031)</td><td> 17% (<i>for financial managers</i>)</td></tr>
<tr><td> Work Environment</td><td> Headquarter offices, banks or government buildings</td></tr>
<tr><td> Similar Occupations </td><td> Auditor, Budget Analyst, Financial Analyst</td></tr>
</table><p><i>Source: U.S. Bureau of Labor Statistics</i>
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<h3 id="section---Skills">Skills</h3>
<p>Controllers need a keen understanding of the principles, concepts, and practical skills of management accounting. They should also be familiar with system processes, cost control and the management of revenue streams. Proficiency in these areas is crucial to achieving business objectives. Controllers who are well-trained in their business settings from a practical and theoretical perspective add to the company's managerial accounting efforts and bottom line.
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<h3 id="section---EducationalRequirements">Educational Requirements</h3>
<p>While most controllers have a minimum of a bachelor's degree in accounting or a closely related field, more employers prefer candidates who have earned the Master of Business Administration (MBA) and professional certifications, such as the Certified Management Accountant (CMA). Some colleges and universities offer certificate programs in controllership. They include courses such as:
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<ul><li>Economics
</li><li>Managerial Accounting
</li><li>Financial Accounting and Reporting Procedures
</li><li>Management Reporting
</li><li>Organizational Behavioral Issues
</li><li>Decision Analysis
</li><li>Information Systems and Controls
</li><li>Corporate Financial Management</li></ul>