fincon 2

It's not traditionally fallen to the corporate controllers to generate income statements and maintain the chart of accounts, process payroll, supervise accounts payable and receivable and close the books.

• True
• False

Debt management and collection, invoice approval, monitoring bookkeeping processes and internal audits all fall under the umbrella of traditional controllership, alongside regular reporting on the organization's financial health

• True
• False

Internally and externally, controllership has been and remains concerned with maintaining the integrity of the books by implementing and monitoring preventative and detective controls.

• True
• False

Controllers have supervisory responsibilities as managers of the finance team and overseers of the processes that drive the day-to-day work of the operations function

• True
• False

The ability to make data-driven decisions has required accessibility to the data in question — data that is clean, accurate and current. Taking processes associated with that data out of the silo and putting them into finance leaders' hands is also critical.

• True
• False

The ability to make data-driven decisions has required accessibility to the data in question — data that is clean, accurate and current. Taking processes associated with that data out of the silo and putting them into finance leaders' hands is also critical.

• True
• False

Controllers have been tasked with driving efficiency in the finance function, and that means taking the lead on efforts to automate or optimize manual or edit-prone tasks and refine the processes they reside within. Often, to enable this long-term and continuous optimization, controllers will be tapped to lead traditional initiatives within the organization

• True
• False

The modern controller also manages and stewards human capital, working to recruit and retain qualified accounting talent on the teams they supervise. Often, they collaborate with other senior leadership to shape the talent strategy of the entire organization

• True
• False

Allocating capital tactically has broadened the scope of the controller role immensely, providing guidance on how to apply trend and forecast data to the operational distribution of cash.

• True
• False

As stewards of a company's assets — whether it's their cash, people or time — controllers have become change leaders and must remain flexible and adaptable in their approach

• True
• False