what does the financial controller job basicaly involve in it?

Answer 1

.The Financial Controller's job is any facet which has to do with money. Before a sale is made, his department checks the credit of the purchaser to determine if he can pay the bills,and based upon the information sets a sales limit. When the sale is made a receivable is generated which his department follows and collects so his company can pay its bills. He charts the payables, approves them for payment. If his business is seasonal, he will be the one who advises the CEO to borrow temporary funds to cover the slow sales months .If surpluses are generated he will advise upper management the amount, possible disposition through dividends to shareholders, and upper management may advise bonuses to be paid. While all the people are working, he also has charge of the payroll department, for paying all employees of the company, deducting the proper fica and income taxes and making timely deposits of those funds collected. He manages the asset records and keeps them current for auditing and corporate taxing and supervises the year-end physical inventory of work in progress, finished goods and obsolete and seconds.He is responsible for making timely deposits toward the corporation's state and federal income taxes. If the sales staff is paid commissions, his department calculates the earnings based on net sales and cuts the checks monthly.He drinks much coffee!!