Management
Accountant, otherwise called Controller, is considered to be a part of the
management team since he has the responsibility for collecting vital
information, both from within and outside the company. The functions of the
controller have been laid down by the Controller’s Institute of America. These
functions are:
- To establish, coordinate and administer, as an integral part of management, an adequate plan for the control of operations. Such a plan would provide, to the extent required in the business cost standards, expense budgets, sales forecasts, profit planning, and programme for capital investment and financing, together with necessary procedures to effectuate the plan.
- To compare performance with operating plan and standards and to report and interpret the results of operation to all levels of management, and to the owners of the business. This function includes the formulation and administration of accounting policy and the compilations of statistical records and special reposts as required.
- To consult withal segments of management responsible for policy or action conserving any phase of the operations of business as it relates to the attainment of objective, and the effectiveness of policies, organization strictures, procedures.
- To administer tax policies and procedures.
- To supervise and coordinate preparation of reports to Government agencies.
- The assured fiscal protection for the assets of the business through adequate internal; control and proper insurance coverage.
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