Function of Controller
The functions relating to management and control of assets comes under the preview of controller. The detailed functions usually assigned to the controller are 23.
- Providing basic information for managerial control through formulation of accounting and costing policies, standards, and procedures. Preparation of financial statements and maintenance of books of account, direction of internal auditing and cost controls.
- Budgeting and control of corporations and results.
- Specific control activities
a) General Accounts primary and subsidiary accounts devising checks on the company’s finance and safeguarding its assets, checking invoices and accounts receivable and payable con trolling cash payment and receipts, payroll accounts. Frings benefits plant and equipment records cost accounting activities of the various management functions.
b) Preparation and interpretation of regular financial reports and statements.
c) Inventory control.
4. Internal Audits
5. Interpretation of control data.