We are independent & ad-supported. We may earn a commission for purchases made through our links.
Advertiser Disclosure
Our website is an independent, advertising-supported platform. We provide our content free of charge to our readers, and to keep it that way, we rely on revenue generated through advertisements and affiliate partnerships. This means that when you click on certain links on our site and make a purchase, we may earn a commission. Learn more.
How We Make Money
We sustain our operations through affiliate commissions and advertising. If you click on an affiliate link and make a purchase, we may receive a commission from the merchant at no additional cost to you. We also display advertisements on our website, which help generate revenue to support our work and keep our content free for readers. Our editorial team operates independently of our advertising and affiliate partnerships to ensure that our content remains unbiased and focused on providing you with the best information and recommendations based on thorough research and honest evaluations. To remain transparent, we’ve provided a list of our current affiliate partners here.

What Does a Corporate Controller Do?

By Kenneth W. Michael Wills
Updated Mar 03, 2024
Our promise to you
Practical Adult Insights is dedicated to creating trustworthy, high-quality content that always prioritizes transparency, integrity, and inclusivity above all else. Our ensure that our content creation and review process includes rigorous fact-checking, evidence-based, and continual updates to ensure accuracy and reliability.

Our Promise to you

Founded in 2002, our company has been a trusted resource for readers seeking informative and engaging content. Our dedication to quality remains unwavering—and will never change. We follow a strict editorial policy, ensuring that our content is authored by highly qualified professionals and edited by subject matter experts. This guarantees that everything we publish is objective, accurate, and trustworthy.

Over the years, we've refined our approach to cover a wide range of topics, providing readers with reliable and practical advice to enhance their knowledge and skills. That's why millions of readers turn to us each year. Join us in celebrating the joy of learning, guided by standards you can trust.

Editorial Standards

At Practical Adult Insights, we are committed to creating content that you can trust. Our editorial process is designed to ensure that every piece of content we publish is accurate, reliable, and informative.

Our team of experienced writers and editors follows a strict set of guidelines to ensure the highest quality content. We conduct thorough research, fact-check all information, and rely on credible sources to back up our claims. Our content is reviewed by subject-matter experts to ensure accuracy and clarity.

We believe in transparency and maintain editorial independence from our advertisers. Our team does not receive direct compensation from advertisers, allowing us to create unbiased content that prioritizes your interests.

Responsibility for all financial and accounting functions in a corporation usually resides with the corporate controller. He or she will supervise those functions, which include budgeting, billing, accounts payable and receivable, forecasting and projecting, reporting, treasury administration, and tax estimation and filing. In addition, the corporate controller will also work as part of a team to devise, document and implement accounting and financial policies. He or she will also troubleshoot accounting or finance issues and create procedures to solve those issues in an effort to streamline accurate reporting procedures. Overall responsibility required of the position includes mitigating financial risks, enhancing accuracy of accounting and financial processes, and ensuring compliance with generally or internationally accepted accounting principles.

Management responsibilities are part of the corporate controller’s job scope. Aside from supervising accounting and financial staff and processes, he or she will also maintain documented systems for financial and accounting procedures. Additionally, the controller will manage all outsourced contracts related to accounting and financial functions. Since the accounting department is his or her responsibility, the controller will also ensure that the department is structured in a manner that efficiently achieves the its goals and objectives. If the corporation has other subsidiaries, he or she may also oversee those accounting operations as well.

Transaction maintenance and financial reporting are central functions of the corporate controller. Included in these responsibilities are the assurance of accounts payable in a timely manner, collecting on accounts receivable, processing and accuracy of payroll, banking reconciliation, and collecting debt payments in a timely fashion. Maintenance of the chart of accounts, accounting filing systems, and systems associated with controlling and carrying out financial transactions fall under the purview of the position. Proper and timely reporting of all financial reports, statements, budgets and forecasts are also part of the job function. Financial analysis is a consistent job function required as well in order to spot discrepancies and ensure financial health.

Depending on the size of the company and whether it is publicly traded, the corporate controller may also hold the responsibility for filing quarterly and annual reports with the Securities and Exchange Commission (SEC). With smaller companies and those not publicly traded, he or she may also assume the job functions of the Chief Financial Officer (CFO). Compliance is a vital function of the position as well. While taxes is part of the compliance function, the corporate controller will also hold the responsibility for complying with all outside audits and monitor debt levels of the company to make sure they comply with company policy.

Practical Adult Insights is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.
Discussion Comments
Practical Adult Insights, in your inbox

Our latest articles, guides, and more, delivered daily.

Practical Adult Insights, in your inbox

Our latest articles, guides, and more, delivered daily.