The Part-Time Controller
Aim: To provide the expertise and results these functions fulfill to business clients whose size does not justify hiring persons for these functions on a full time basis. This approach “fills the gaps” in a client’s organization and frees up time for the other staff members who are performing these activities. K2S team members will assume responsibility for whichever of the activities the client chooses, actually functioning as though they were employees of the client.
Need: Generally, persons who have neither the training nor experience to do them effectively perform these activities in these businesses. This usually takes time away from the other things these people should be doing. Additionally, because they only devote part of their time to the tasks, many of the activities don’t get performed.
Role of the Controller/Treasurer
Large businesses typically have numerous technical experts organized along departmental lines who are responsible for performing very narrow tasks, whereas Small-Medium Sized Enterprises (SME) depend on the controller to fulfill many of these tasks. Controllers have moved beyond the single role of an accountant and into the world of information, finance, treasury, administration and general management. The controller in an SME typically reports directly to the CEO or owner. The major areas of controller responsibility are listed below. If you would like to discuss your options in greater detail, please contact us.
Part-Time Controllership Functions
Management Role – Accounting and financial expertise is a necessary base for many of the controller’s duties, yet managerial ability is crucial.
- Managing the Accounting Function – This is the controller’s most basic responsibility.
- Cash Management
- Accounts Receivable Management
- Inventory Management
- Managing Accounts Payable
- Business Planning – Set aside adequate time for business planning. Investors, lenders, major customers and suppliers often want to see a business plan in which issues and concepts necessary for the business to grow have been carefully thought through.
- Capital Expenditure Analysis – Businesses periodically face decisions relating to proposed capital expenditures.
- Obtaining Financing
- Management Reporting
- Corporate Tax Administration and Planning
- Managing Business Insurance
- Executive Tax and Financial Planning
- Personnel Management – Many times, the responsibilities of the HR function are assigned to the controller in a SME
- Systems Management – The small business controller is ordinarily the dominant figure in the company’s systems environment for two reasons. First, the accounting functions typically are the company’s primary information system. Secondly, the business rarely has a separate technology department to manage the information system.
- Facilities Administration
- Other Business Processes such as
- Total quality management
- Activity-based costing
- Use of the internet and intranet
- Determine whether to use electronic data interchange