How to Become a Financial Controller

Becoming a Financial Controller 

A financial controller is in a position of considerable responsibility. They oversee the preparation and dissemination of a business’s regulatory financial statements. They also manage other functions performed by the finance and accounting departments. These include cash flow management, planning, and budgeting. They also include bank account upkeep, cost and inventory accounting, and more.

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A financial controller needs lots of experience and professional qualifications. They need these to perform all the responsibilities and more. See our article on qualifications and skills for further details. The article discusses these professional and academic prerequisites.

There are several ways to become a financial controller; see the steps below.

Step 1: Gain Some Accounting/Finance Experience

Financial controllership positions almost always require 5 to 15 years of work experience. Even small companies need prior work experience in financial accounting. Prospective financial controllership candidates should expect to work in the accounting or finance division for a few years. They need to learn the requisite skills.

Among these abilities is preparing financial statements. This includes cash flow, profit and loss, and balance sheets. It would also require skills like budgeting and cost accounting. You would also need expertise in managing cash flows, payables, and receivables. You would also need expertise in managing bank accounts for the business.

Step 2: Get a Professional Accounting Qualification

Professional certifications are often necessary for a financial controllership position. They need them, unlike many other job roles. Various organisations offer these certifications in different countries. Candidates should choose one of these certifications based on the nation in which they hope to work. Of course, many of these qualifications are global or applicable across many countries. To learn more, please visit the following link on capabilities.

Please note that steps one and two above can be interchangeable depending on specific circumstances.

Step 3: Display Leadership Potential

Financial controllers have huge responsibilities placed on their shoulders. To achieve their work-related objectives, they have to rely on the large teams of professionals they manage. They also interact with other groups, making management and leadership skills a prerequisite. Also, financial controller roles can be stepping stones to CFO or Finance Director positions. They are the top positions in the finance division. After taking everything into account, it should be obvious that someone who wants to work as a financial controller needs to be a good leader. They must prove those skills to decision-makers.

Search other articles to learn more about financial controller careers:

Job Description & Profile, Salary & Pay, Qualifications, Skills & Requirements, etc.

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