Controlling is a relatively wide term used for many different business administration
job roles. Controlling is a rudimentary exercise in all companies that seek
to ensure and develop financial transparency and reliability in all business
areas. All business areas in modern companies could benefit from rigorous controlling
of finances and financial processes. Therefore, there is a multitude of different
job areas within the field of controlling, and there will be countless job descriptions
referring to controlling.
Job descriptions relating to controlling could
Financial controllers are oftentimes given the responsibility to control the
postings on specific General Ledger Accounts (G/L) Accounts in both the P/L
and Balance Sheet. The aim for financial controllers is to ensure correct bookings,
correct balances and potentially also the forecasting and budgeting of their
respective areas of responsibility. Financial controllers prime objective is
therefore to reconcile the P/L and the Balance Sheet, and ensure the auditability
of the bookkeeping of the company.
Business Controllers are oftentimes heavily engaged in operational business
finance. Job areas could include:
Production order controlling
Sales order controlling
Stock count controlling
Business case controlling
Business controllers are more heavily involved in the day-to-day business improvement,
and very often act as financial counterparts in various projects of a company.
Sales Controllers are primarily working with ensuring correct pricing of sold
products and services. Another area of sales controlling is also to ensure timely
delivery according to customer agreements and to ensure timely payments from
customers. Forecasting and budgeting of expected sales would also very likely
be a part of the Sales controller’s job description.
Project controllers are primarily engaged in the financial controlling of specific
company projects. Project controllers control all financial aspects
of project spending, project budgeting and analyze actual costs of projects.
An example of project controlling could be a R&D project, where the project
controller could be responsible for the project budget, project spending, target
cost calculations and much more.
The listed areas above are, of course, only examples of potential areas of
work within the field of controlling. There will be many other business areas
that need financial controlling, and almost all business areas of modern companies
would benefit from financial controlling and transparency.