Read how a qualified financial controller can help plan for growth and pre-empt future challenges. They provide financial leadership and have four main areas of responsibility - accounting, internal controls, financial planning and financial analysis. Outsourcing this function offers flexibility with less financial and employment risk.

1. How a Financial Controller can keep your business on track and
help it to grow
It’s not always easy to manage your financesand keepthemon track. For small businessesor
larger enterprises itcan be helpful to geta freshperspective onyour financial activities. Bringing
the servicesofa qualifiedfinancial controller,asopposedto an unqualifiedbookkeeperora
practicing compliance accountant, to your businesscouldallow you to pre-emptany future
challengesand alsoplan for growth.
The skillsthata financial controllerbringstoa companyare hugelyvaluable. Unlikeabookkeeper
or compliance accountanttheycanbe the mostseniorfinance andaccountingpersonina business.
Theyare not ‘justseniormanagerswithaccountingexperience’butprovide financial leadershipas
well asbeinginstrumental informingaccountingstrategies. Educatedtodegree level andwithan
additional qualificationfromone of the professional accountingbodies –ACCA,CIMA or ICAEW –
theirresponsibilities fall intofourbroadareasthat focuson accounting,internal controls, financial
planningandreportingandfinancial analysis.
Accounting – makingsure all accountingallocationsare made andrecorded. Andinsmaller
companiesthe financial controller maywell manage andperform cashmanagementfunctions,
overseeingaccountspayable,accountsreceivable,cashdisbursements,payroll andbank
reconciliationfunctions.
Internal controls– instigatingandimplementingcontrolsoverthe company’saccountingand
financial procedures,soreviewingall invoicestobe paidaswell as the accountsreceivable aging
reports. A financial controlleralso liaiseswithexternal tax accountantsforincome tax preparation
and withauditors preparingthe company’sannual audit.
Financial planningand reporting – negotiatinglinesof creditandvendoragreementsaswell as
reviewingfinancial contracts,financingagreementsandinsurance policies. The provisionof
accurate and comprehensivefinancial informationtoenable long-termfinancial strategiestobe
preparedalsofallstothe financial controller. Financialreportingdutiesincludepreparationof
financial statements,balance sheets,cashflow reports,budgetsandfinancial projections.
Financial analysis - financial analysisskillsare instrumentalinhelpingtoassessrisk,analyse
efficiencyandinformpolicy decisionsmade byexecutivemanagementso,beingable toprovide an
expertfinancial perspectiveandopinionsare crucial.
These uncertaineconomictimeshave forcedbusinessestoreassesstheirneedforreliableand
currentfinancial information sogettingexpertadvice fromaFinancial Controlleris crucial.Of
course,manySMEs can’t justifythe costof hiringsomeone oronlyneedshort-termhelpbut
insourcingisa greatway to bringexperience andinsighttoyourbusiness ata fractionof the cost of
employingsucharesource.

2. Insourcingcanbe as relevanttoa small companyas to a largerone,sometimesmore so asitoffers
more flexibilityandlessfinancial andemploymentrisk. Aswell asthe financial benefits, this
professionalresource can reduce riskbyinstigating bettercontrols,greaterflexibilityandimproved
processes. Andbringinginthishands-onhelpmeansstaff canconcentrate on the importantgoal of
growingthe business.
EFM’s financial controllersofferaservice thatfocusesonthe applicationof strongfinancial
reportingproceduresat a critical stage of businessgrowth.
Take advantage of the experience andexpertise of some of itsmostspecialistmembersona part
time basisby requestingthisservice now.
Day rates,monthlyratesandannual rates are available. Contactus formore information.