Ensuring that company financial statements are in line with management’s requirements and industry standards is part of the job description of an assistant controller. Working under the direction of a corporate controller, the assistant controller prepares financial statements that meet standard accounting principles as well as state and federal regulations.
An assistant controller has the task of making sure there are no errors on a company’s balance sheet or on the statements of profit and loss, cash flows or retained earnings.
Essential Duties and Responsibilities of an Assistant Controller
- Supervises subordinate personnel in accounts receivable and accounts payable areas of a finance department.
- Oversees, monitors and works to improve accounting procedures, internal controls and database management.
- Audits work flow to ensure that all accounting transactions are processed accurately and in compliance with industry standards.
- Reviews and justifies expense reports and other expenditures.
- Supervises the preparation of monthly journal entries.
- Prepares financial statements for a company.
- Helps maintain accountability of the financial resources of a company.
- Handles personally or supervises general ledger reconciliations.
- Ensures compliance with all internal controls.
- Trains staff on proper company procedures.
- Assists controller with a variety of tasks as needed.
- Reviews monthly closing processes to prevent errors.
- Handles special projects as requested by management.
- Helps with the preparation of the yearly audit.
- Assists in safeguarding the assets of investors.
- Stays current on changes in regulations and other industry news.
Required Knowledge, Skills and Abilities
- Displays vast knowledge of math and exceptional accounting skills.
- Possesses strong leadership, supervisory and management abilities.
- Has excellent critical thinking as well as analytical skills.
- Exhibits strong computer skills and knowledge of relevant technology.
- Demonstrates extensive knowledge of financial software programs.
- Possesses exceptional organizational skills and is an effective time manager and multi-tasker.
- Displays the ability to pay close attention to detail.
- Demonstrates good interpersonal skills along with excellent verbal and written communication skills.
- Has a working knowledge accepting accounting practices and financial accounting standards.
Education and Experience
- Bachelor’s degree in accounting, finance or a related field.
- Master’s degree in business administration.
- Certified Public Accountant (CPA) designation.
- Certified Financial Manager (CFM) designation.
- Certified Management Accountant (CMA) designation.
- Training program through employer.
- Works normal business hours of 8:00 a.m. to 5:00 p.m. Monday through Friday most of the time.
- Extends working hours into evenings and weekends during seasonal busy times.
- Spends time in a climate controlled office setting looking a computer screens and keyboarding.
- Attends budget meetings and other financial meetings on a regular basis.
- The salary of an assistant controller can range from $40,000 to $80,000 depending on level of education and years of experience as well as the size of the company and the complexity of the job.