A Month in the life of a Controller
ฝัง
- เผยแพร่เมื่อ 28 พ.ค. 2024
- My work life as a financial controller revolves around a few things. It mostly all has to do with financial reporting. But in order to get to report on the financial information, I need to go through some operational tasks around tax, audit, accounts payable billing etc.
In general days are very different meaning that I do different tasks each day of the month. But unfortunately the nature of the work means that I have some sort of repetition that occurs each month. It’s almost like living the same month over and over, with some very minor plot twists.
In this video I’m gonna attempt to break down a month in the life or financial controller rather than focusing on a day in the life. This is because I believe a month is a better representation of what I have to do to produce monthly financial statements.
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All views expressed on my channel are mine alone. Not intended as financial or professional advice
Went from AR to staff accountant to controller in 6 years. Used buddies advise and I’m killing it. Thank Mr. Financial Controller
love it brother
Did you find it hard to move from AR to staff accountant? I’m a bit hesitant to take the job as a billing assistant even though i only have 1 year bookkeeper experience, i’m thinking what if i’ll be stuck there forever
@@RevolutionarySky it definitely wasn’t easy. I think it took me a year of applying/interviewing before landing the staff accounting position. I learned a lot from my failed interviews. I made sure to follow up afterwards to see why I didn’t get the job. It was always a “lack of experience”. So I studied the areas I was weak in and asked for more duties when I was working the AR job. Eventually I was confident enough in the interview process to start landing offers. I’m actually the controller now at the company I was doing AR for.
Not easy but definitely not impossible. My biggest advice is to nail down the interview process. Bill has soo many great videos on the subject.
@@joshualautenschlager3616 that’s so good to hear buddy! Thanks for your reply, i’m currently actively applying for entry level jobs, i handed out my CV to the recruiters i could possibly find through Linkedin, and yes you are right! Every interview is a step closer to getting an actual offer, i think that’s how universe works when you actually deserve something you’ll get it! Hopefully i’ll get to controller position one day too 😊 and yeah these videos are extremely helpful! Good luck!
@@ChristopherX9 i’ve been looking for entry level finance/accounting jobs for like 4 months now, i have a degree in accounting and masters degree in project management, with 1 year working experience as a bookkeeper, i’m getting interviews pretty often either through recruiting agencies that call me couple of times in a week or just by myself, but when i get to the last stage i just fail to get an offer, don’t even know what to do, any ideas what i should be doing?
I'm switching jobs and currently studying to become a financial controller. I'm very pleased to see that there is a dedicated channel for the profession to help people out. Thank you and I'm very exited to discover the rest of your video's!
happy to have you as a subscriber!
I must say that there are so many videos on TH-cam with so much unnecessary talk. I appreciate that you are crisp and to the point. You should be great at your job. Thanks for the video!
Haha thanks a lot!
Currently in a tax accounting internship and an auditing internship and I’m realizing very quickly that tax accounting is not my strong suit, but I’m extremely interested in auditing so it was interesting seeing how the external auditors interact with the controller. Great video!
We should never forget our original
aspiration or our roots.
If we lose our ability to become emotional
or feel touched, we also lose our ability
to be grateful.
Thanks - I am a Financial Controller - this is awesome :)
I've been following your channel for sometime now and have seen how you continuously improve the quality of your content. Wishing you continued growth and success!
Thanks for the kind words hector
Thank you very much Sir to keep us updated with your greatest knowledge.
I really needed this. Thank you so much for sharing your knowledge and expertise.
You motivate us to do better and strive for more and you make accounting simple and a breeze for us.
You never disappoint!!! 👍🏽👍🏽👍🏽👍🏽
Thank you for this video, am now starting my journey studying accounting and your videos are helping me.
thank you for being honest and relying on others.
I appreciate your videos. Words cannot explain
This is what I'm looking for. Thanks for your efforts. I'm an Assistant financial controller and I manage month end close process. Thanks a lot.
That was awesome. Thank you for sharing your knowledge
I appreciate your effort. This video will help me alot. Thank you so much😇
I enjoy watching your videos, positive vibe 👏🏻
This has been very helpful.
Thanks so much for sharing.
Hi Bill, really enjoyed your video! I will be majoring in Accounting and will likely be going down the Financial Controlling Path.
I'm really interested in the differences between being a financial controller in a small, medium and large mnc company. Hope you can share your knowledge on this topic in the future!
Omg I'm so glad I found this channel. I was debating on taking this career path. After watching your video I'm certain I want to take this career path
Great to hear!
A month in the life is a much better example, especially for industry.
Thanks.
Monthly closes here, financial accountant.
If you read this far, AMA I guess. Happy to help with what I have learned so far.
I find your videos extremely useful! Thank you for your content well done!
Glad you like them!
Thank as always for your videos Im a silent lurker.. I needed this as I am contemplating now on accepting an FC role while being a Project Accountant for most of 10 years.
I just got an offer for a controller internship and I honestly had no idea what that meant before this video. I had interviewed for am audit internship, but they thought I'd do better as a controller. Thank you for making this informative video! I think im going to accept the offer!
Jade, best of luck!
Your content is really good
Thank you so much!❤
thank you for your videos!
Thanks for sharing. Very helpful!
Glad it was helpful!
You are the best my brother. You are an inspirational person and most humble and caring Financial Controller. We need more leaders like you. God bless Mashallah
Thanks! I’m looking into this role once I get my masters in accounting.
Good luck brother
Awesome video!!
Love the content as always! Could you do a video on organisational skills?
Ok
Thank you for sharing.
Can you do a video on how to prepare annual budget with budget analysis 🤔
Cheers, Sharon
Hi! Always love your youtube content. If possible, I'd love to suggest you to make content about ESOP (Employee Share Option Plan) accounting treatment. Thank you!
I have a degree in finance in Brazil and today I want to graduate in accounting to obtain my CRC (A type of CPA, but in Brazil to work specifically as a public or private accountant you must have this license.)
Channels from other countries developing content on accounting and finance are interesting. Let's go! Success for our business.
Found the channel i was looking for!!
Job well done... and Sincere too...and wise way of running a dry-complex job. 🤛👊👍
Thanks 👍
Very helpful!
Awesome video! Thanks!
Glad you liked it!
@@TheFinancialController I also have a question, is it hard finding a company like this.
Very nice expertise u shared us more appreciated like this one
It's my pleasure
Excellent 👍
When i was working as Finance controller i used to have also to workl a lot with Tax matters, but definetly what really takes most of the time is billing and when you are in the manefacturing industry that's really a challenge due the invetory control..monthly stoctaking. Etc et ..
would love to see a desk tour
The heart of the business that's an important roll accountant is the heart ❤️ business
I really appreciate the fact that you are only focusing on what you are doing in your job and break it down so well so that people can actually learn instead of showing us what you eat for breakfast
Hello, this is very educating.. Please, can you do a video on Business Controller
Do you have a coaching program or something similar where you help someone become a functional financial controller? What I mean is to actually know the details of how to competently perform the monthly tasks and analysis reports for the job role.
I have a 6 hours course on my website for this (the controller academy)
Great Videos .. I just discovered your channel and it is what I was looking for ... can you make more videos on corporate FP&A ?
This a perfect, quick overview. Will your patreon deliver more? Thank you.
Hey EJ, yes but in the format of a voice chat in my next office hour. It’s always on a Saturday and will be communicated to my patrons. Thanks for your support sir!
Hello Sir, your videos are very good. Would appreciate your take on “exit opportunities as an accounting manager in non profit organization”. Thank you
Hi I have been following ur channel for sometime. I m enjoying your video. One question, could you sharing with us the job scope difference between Finance Director and Finance Director? TIA!
Thanks eber do much for. What arem the processess involves before payment of invoice
Thanks for this...could you also please do a vdo for a finance modeling/cash forecasting model?
Yes soon
Hello, do you have please explanation and illustration for Consolidated Comprehensive Income? Thanks
Can you share to do checklist of FC or CFO on landing a new organisation?
Hi, I don’t have a degree in accounting or finance but I have been working as a banker for a financial institution for over 8 years. I am interested in becoming a financial controller for a company . Do you think it’s necessarily that I have an accounting or finance degree to be successful at this job? Your video is very helpful , I wish it was longer :) are there books out there you recommend I can read ? Please do more videos! I would love to understand the nature of the job more and how you do those important tasks. Did you know a lot when you first started or was everything very new to you ?
Would you mind to discuss about Deferred Tax on the next video?
Please make a video about way to cfo)
This is very useful. I have purchased $146. Im from Malaysia. Tomorrow is my interview! 😁😁😁
Best of luck Nur
How was the interview...from Malaysia too..
@@stephenlau6533 awesome! Im an accountant now 😁😁😁
My breakdown is: Financial Reporting (ME/ QE/ YE) - 30%, Cash Management - 15%, Audit 15%, AP - 10%, AR - 10%, Budgeting and Forecasting - 10%, Payroll - 5%, Tax - 5%.
sounds about right, nice
I really like your videos they are very insightful and helped me in many interviews, i have a question to you if you could briefly answer it’d be great, do you think that getting into junior accounting or clerical jobs like AR, AP or billing assistant or similar role would look bad on my CV if i want to move up to accounting ladder in the future ? Or i’ll still manage to find other more advanced jobs in accounting/finance?
Totally normal to start there
@@TheFinancialController i appreciate your reply! Thank you!
I am trying nowadays to switch from cost control to payable, Please advise, Thank you.
How many hours per week, year do you work?
How much do they pay you?; Per year and per hour?
Do you feel overwhelmed with all of these different tasks?
Do you work at home everyday? How often do you hed to the office?
Is every controller position very similar or can there be extremely drastic differences throughout different companies?
Can you get promoted from a controller, your boss is the CFO, ok, do you qualify to become a CFO after certain amount of years of experience?
Thank you very much for your time and information.
I’m a finance major and I’m super worried about my gpa but I think I can manage a 3.3-3.5 but I see everywhere that 3.7 and up is only good, is that true I know experience also counts?
Hi sir. I am new to your channel. Could you also advise how to become a finance controller ? Which Degree or diploma to do ?
How to use excel for accounting accounts plz explain me basic knowledge
nice
what is another bachelors degree that pairs well with finance? If I cant go masters in finance, what other masters is good?
How do you feel about experience in small business public tax (1065 and 1120S) translating to a controller position? Or would audit experience be more useful?
Audit. The tax experience you mention won’t help.
I couldn’t Find the template on patreon and I have already bought the membership 🤔
Hi Melanie. Are you referring to the templates for the financial analysis video?
Could you please share the Google sheet template appearing in the 2nd min and 44 sec of this video
It’s shared in my other video “how to create month end close checklist”
I just started my first accounting job doing tax n audit but i dont think this is for me 😭… iv over heard my managers talking ill about me and thats very offsetting considering the minimal training they provided , I feel so stressed out now cuz i dont even wanna ask for help anymore what should I do? I feel like i should have gone into finance 😭
Hang in there. The early years of my career were tough because I didn’t think I was as smart as everyone else. There were many days when I felt like I wanted to quit it all. Put your head down and learn as much as Possible. It will get easier I promise
@@TheFinancialController thank you for the encouragement and advice that is exactly what I will do. Also thank you for sharing that because thats exactly how I feel right now but I’m not gonna quit.
Hi, I hope you're doing okay
@@puritywambui7074 hi thank you, im still hanging in there doing audit, cant let bad management distract me from my goals!
@@AllInOne-bo5vp Good to know you're doing alright now. Keep pushing on
I do not have a BG in accounting or finances but am getting a MBA. Is it possible to learn enough in one year to become a controller or assistant controller?
I don't think anyone would recommend you that. You should have some kind of Professional Accounting Degree. If you are in the USA, then CPA. If in UK, ICAEW or ACCA. If you are in any other country and want to do a Professional accounting course, go for ACCA. I think with an MBA you can reach the level of CFO but through some non-accounting route. Just my opinion, you should research more about these.
How do you feel about A I in this business sector?
I am starting my career in accounting with accounts payable so I am very new to allocating codes and whilst the processes seem easy I struggle to understand the reasons behind the tasks. I know it feeds into financial reports which is presented to the directors by the financial accountant but I end up making mistakes because I don't fully understand my entire role so far. Do you have any tips on understanding training quickly
Hi, I recommend you tell exactly this to your manager, because they should make an effort to show you the big picture.
I asked my manager and it helped me understand my role better. It helps to see the bigger picture. thanks!@@TheFinancialController
Hi Bill, I have a question hoping you can help provide some guidance. I am currently a senior accountant in financial reporting for 2 years. Previous to that I spent a year as a senior accountant in general ledger. I been with this company for almost 3 years. Prior to switching to private industry, I was a senior auditor in a big 4. I am looking to move up to an accounting manager role within this company but unfortunately there seem to be no open position for the next year or two or until someone leaves the role. Is it worth waiting around for an open spot or should I consider looking outside the company?
My personal inclination has been to move in a situation like this.
@@TheFinancialController is technical accounting skills such as writing technical accounting memo to apply ASC guidance to business transactions important to becoming a controller? How about skills like compiling financial statements? Most companies have a different department (Financial Reporting) for these two tasks.
what's different between the Accounting manager & Finance controller
Accounting manager oversees the financial close. The controller is ultimately responsible for the reports.
Quá chuẩn còn gì❤❤
Hello can you please make a video on how do you make a bank reconciliation please
I already have this video on my channel
Hello Hanna,
I have been working as Accounts payable associate for 6 months I want to apply for Staff Accountant. Please advise how can I prepare for my next job. I have watched you video on staff accountant interview Q&A but I want to know what else can I learn to gain confidence for the position.
@WhatsAP➕❶❻❺❼❷❶❼❹❼❻❽ thank you
Actually I’m fresher , how to learn the basics, will you have from the basic!
Great video. Please do consider trying to become a LinkedIn Learning instructor so that I can get some CPE by watching your videos.
Funny you say that. They reached out to me and I am considering it!
Notification gang
@WhatsAP➕❶❻❺❼❷❶❼❹❼❻❽ wtf?
Please support for UK accounting system.
sir can you make me clear
Is CPA necessary to become Financial controller ?
In 90% of cases
Wrong. 23% as of 2021. You don’t need to be a CPA to work as a controller. Sure, it helps, but not necessary.
The cost controller = The financial controller???
Same job?? Same role??
sounds very complicated...i am about to work as accountant.without experience....somehow anxious with new job and new environment, specially given that i has been housewife 10 years..😂
Watch my videos and you should get a good level of understanding. Best of luck!
@@TheFinancialController thank you vey much.. I watched lots of your videos, all very high quality. they are professional, very andstandable, brief, practical.
Please make a video
How to manipulate CV in a legit way to get the job into FP&A Roles being a fresher as most of the time employers usually post a highly experienced FP&A job
🌈 P R O M O S M!!
Hi i am CA from India. Please make the useful videos as much as you can
When you thank a sponsor, you deliberately hide the fact that the sponsor is receiving advertising in exchange. Let's stay clear on the fact that business in general exists to maximize profits at any expense to the public or environment that can be externalized. Business is as exploitative as it can get away with. Let's not be deceptive or naive. The traits of a corporation, for example, are the same as those for a psychopathic individual. Business ethics don't exist, and people need to understand that. They don't understand because business owns the information like everything in a corporatocracy.
Check these out:
Understanding Power by Noam Chomsky
You Call This A Democracy? by Paul Kivel(There's a good interview with Kivel on Talkingsticktv on TH-cam)
Corporate Media And The Threat To Democracy by Robert McChesney
Democracy For The Few by Michael Parenti
Confessions Of An Economic Hit Man by John Perkins(There's a good interview with Perkins on Talkingsticktv on TH-cam)
Noam Chomsky and Michael Parenti are two of the best sources on politics in general
At least watch some Noam Chomsky videos on TH-cam