Corporate Controller Career Guide and Counseling

Question: Corporate Controller? What are the responsibilities of a Corporate Controller of a big company. What do they do? Are they like the CEO? Thanks!! =]

Answer: For years also known as a Comtroller. Generally they are like an day to day Auditor. Keeps ones eye on the daily operation of a large Corporation. When unusuall changes arise he reports it to CEO or COO or Whomever is in total charge.

Question: what is the controller position in a company do? what does a controller(corporate position) in a company do? what is his job description

Answer: A controller is a position in the accounting department that is between an accounting manager and the Chief Financial Officer. The accounting manager is just responsible for making sure the work gets done while the CFO helps manage company direction overall. The controller is usually responsible for making sure the company has sound accounting practices and that processes are in place to make sure company performance is acurately represented by financial statements.

Question: What causes stock prices to rise and fall? Who determines the price? I know my question may be a bit ambiguous, but I'm curious as to what actually causes stock prices to rise or fall. Does a corporate controller determine the stock price, is it based on demand, does the market controller set the price? What makes the price go up and down?

Answer: Simple. Stock prices rise when more people are buying a company's stock. They fall when more people or selling, or if one investor is trying to dump lots of shares, thus driving the price down.

Question: Why did David Kellermann, CFO of Freddie Mac commit suicide? Kellermann was acting CFO, but had been senior vice president, corporate controller and principal accounting officer and had been with Freddie Mac for over 16 years. Could he have known something or felt guilty causing him to do such a thing? There has been a lot of political stench connected with Freddie Mac and Fannie Mae.

Answer: I actually thought the worst was over there. What's going on? And is something else going to come out of this-- Stay Tuned.

Question: Why do people care so much about job titles? I really don't have a current title, but the jobs I do could be described as Corporate Controller, Accounting Manager, Administraitve Manager, Payroll Manager, etc. etc. I had a boss once who got me business cards that stated my title was "Controller", but yet I was only making $10 an hour. So my question is do you care more about your title, than the actual job you do?

Answer: I don't have an official title, I don't need one to make me feel important - I do whatever needs to be done, and am paid very well for it. I've had titles in the past, usually "manager", and it made no difference in how much work I did. Too many people get all caught up in their titles, and if they're asked to do something that's outside of their job description they say "That's not my job!" Bull - if something needs doing and you're able to do it, then it's your job.

Question: How binding can verbal job offers by a corporate officer be? I was offered a position by two vice presidents of our university. It was to be a tranfer from one department to another. The position offer was also approved, in principle, by the university's General Counsel, the university's Controller, and by conversation with a current member of the university's Board of Trustees . It was announced to my co-workers in the department I would be leaving, and announced to the new area I would be joining. No voices of opposition were heard. I was actually taken to a specially called meeting of the department I'd be joining to discuss details of the transfer. I was paraded around like a prize sheep at the state fair. I made arrangements in my personal life for the new position. Several days later I was informed that the university president decided that the transfer shouldn't happen. I was greatly disappointed, saddened, hurt, and hugely embarassed. I still don't know why the decision was made. Do I have any legal recourse? We are non-union.

Answer: A contract is legally binding even if it is a verbal agreement. It is however safer to get a written employment contract. The minimum information that must be included in the statement or contract is: * Name of company * employee's name * A proper work description * The commencement of employment date * Work address * Remuneration * Minimum and maximum working hours * Leave arrangements and stipulations regarding work on public holidays * Sick leave stipulations * Pension regulations * Minimum notice time * Procedures for complaints * Disciplinary procedures * Collective bargaining procedures A valid contract requires two and sometimes three elements: * An agreement (meeting of the minds) between the parties. * "Consideration:" a legal term meaning the exchange of things of value. * Something in writing, if the contract covers certain matters, such as the sale of real estate and tasks that can?t be completed in one year. For example, suppose you're opening a new store. You meet with Joe, a sign maker, to discuss the construction and installation of a five-foot by three-foot sign. Joe offers to do the work for $450 and to have the sign ready for your grand opening on June 15. "It's a deal," you say. You now have a legally binding contract, enforceable in court or by arbitration. All the necessary elements are present: * An Agreement. Joe offered to build and install the sign at a certain price by a certain date. You accepted the offer by telling Joe, "It's a deal." * Consideration. The two of you are exchanging something of value. You're giving your promise to pay $450. Joe is giving his promise to build and install the sign. * Written Agreement Not Required Here. Normal business contracts that can be performed in less than a year don?t have to be in writing to be enforceable. To understand why "consideration" is important, explore the difference between a contract and a gift. Assume that Joe installs the sign on time and you pay him $450 as agreed. Impressed by the high quality of his work, you say: "Joe, to thank you for the great job you did, I'm going to send you a $100 bonus next week." Can Joe enforce your promise to pay the bonus? No. He got what he bargained for - the $450 payment. He didn't promise you anything (consideration) for the extra $100 payment. If you pay it, fine. If not, Joe can't force you to. Contact an attorney in your area who specializes in Labor and Employment law. You could also file a claim with the Equal Employment Opportunity Commission (EEOC).

Question: Will a BA in Accounting and a CPA ultimately lead me to a stable six figure income? Ultimately I would like to become the CFO of an auto group/dealership. I live in the NY/NJ area and would like to work here and live here. I plan on being single, so I will not have to worry about supporting anyone else, or save up 200k+ for college. This could change, so I am trying to go to the CPA route which will provide me a good income to boot. I am pretty sure I want to stay single though. What are my goals? Honestly, I expect to make around 50k out of college by working in NYC which seems like a very realistic goal. I want to be able to afford a nice house by the time I am 34-35. Ultimate long term goals? I want to become a corporate controller and then a CFO by the time I am in my 40's or 50's. Both of these positions command six figure salaries. I am not concerned with making huge sums of money. I just want to eventually be able to live in a nice development, drive a Mercedes, and live comfortable on a low six figure income. --- My dad is 50 and has no big4 experience and has told me that even now it is not necessary. The only advice he has given me is to get a degree in accounting, get an internship, graduate, work, study, take the CPA exam, get the boost in salary and really just start my career from there. I told him my concern with starting a family, driving a nice car, etc. and he has said not to worry about ANY of that. He basically said to do my job well and I will be able to get that controller position in my 30's. Is this true? As long as I do what I need to NOW, and show my boss that I can do my job well, the 100-200k a year will eventually follow? I do not even expect to make that much. All I really EXPECT, is 120k a year. If I can find a company willing to compensate me higher, great. All I expect to even make with a CPA under my belt in a corporate controller position is 120k. Is this a realistic goal? My dad is a CFO by the way.

Answer: yes its true.. 50k for a ba or more... for a controller position 70 -90k you need at least 5-10 yrs of experience... and cfo, need a cpa. for over 100k... mba.. is 150k-200k or more...

Question: Did i get the JOB? I am an AP Specialist (1yr) with a BS in Finance. Obviously i want to do more. I was called to interview for a position as a Corporate Acct. I initially asked them if they were sure I was qualified bc the job description asked for CPA and someoone with an Accounting Degree. They said its not a problem, not to worry and to come in. The HR lady even said i was handpicked for the interview. The interview was going well, then I was told I was going to be given a test. I was then asked 3 questions about how to book journal entries. I got one out of 3 right. Did I get the job? I think the corporate controller picked me bc we went to the same business school. He said before the test he doesnt want to teach anyone accounting, but if he knows my qualifications he should know I dont have much experience with debits and credits...anyway do u guys think i got the job???? Whats the normal turnaround time they will contact you to let u know, they said they wanted to fill the position within a wee Whats the normal turnaround time they will contact you to let u know, they said they wanted to fill the position within a week. I think im a quick learner but since i didnt do good on the test that I didnt get the job...i really want to do more and get more experience but how can i when no one wants to give me a chance..suggestions??

Answer: How are we supposed to know if you got the job or not. Ask them not us.

Question: is it difficult to make six figures in NYC? I plan on becoming a CPA. If I do not get a job at one of the big4 will I still make six figures? Or more like 50-60k starting? My dad started out as a CPA and is 50 now and is a CFO. He said it depends how hard I want to work. I am a hard working person...I just don't want to make 50-60k my whole life, I want to become a corporate controller or something, you know. Something that pays like 100-200,000 a year. I AM GENUINELY INTERESTED IN THE BUSINESS FIELD. I have taken classes and like it, accounting isn't that boring to me, I would make it into a career. Forget about actuary...

Answer: You're looking at approximately 45-55k to start. Get in with the corporation and find a career path to the controller position. Your did sounds like a good roll model. Graduate within the company on your on devise. Trust me, they won't care who your dad is (some times the apple does fall far away from the tree).

Question: corporate ladder? i am currently working in the AP team of a company. i find this payable section very routine and boring and theres no job rotation for me. i am currently handling all the keying in of invoices, matching,filing, payment and reconciliation. next month, i will be switching to auditing in a firm on GL section. my objective is to become a competent financial controller by the age of 21.i am currently doing my CIMA strategic level papers. anyone can advise on my development of aim?

Answer: Sounds like you're right on target. Keep going and good luck.