financial controllership

Financial controller

- a management function responsible for overseeing accounting operations, financial reporting, internal controls, compliance, and financial stewardship within an organization.

Financial reporting

Create accurate financial statements to know the company’s money situation.

Budgeting and forecasting

Plan how much to spend/earn and predict future money.

Internal control system

Set rules + checks so no fraud, errors, or lost money

Risk management

Spot money dangers early and find ways to reduce them.

Regulatory compliance

Follow all tax, accounting, and legal rules to avoid penalties.

Strategic financial planning

Use money data to help the company grow long-term.

Board of directors

The group that sets the overall direction of the company and oversees top

Chief executive officer

The highest-ranking executive who manages the entire organization.

Chief financial officer

The executive responsible for the company's overall financial health.

Financial controller

The head of accounting who ensures financial records are accurate and reliable

Accounting staff and personel

The employees who perform the day-to-day accounting work.

Accounting staff

record financial transactions.

Payroll personnel

process employee salaries and wages

Account receivable staff

collect money owed by customers.

Account payable staff

pay the company's bills and obligations.

Cost accounting personnel

track and analyze production costs.

Controller

makes sure the numbers are right;

CFO

uses those numbers to set strategy and run all of finance.

Integrity

Be honest and don’t cut corners, even when no one’s watching.

Objectivity

Make fair decisions based on facts, not feelings or pressure.

Confidentiality

Keep company + client money info private and secure.

Professional competence

Stay skilled + updated so your work is accurate and reliable

Accountabilty

Own your decisions and be responsible for the results.

Performance measurements

is the process of evaluating how efficiently and effectively an individual, team, department, or organization performs its tasks and achieves its goals.

Performance standat

These are the expected levels of performance used for comparison.

Performance indicator

These are measurable values used to determine if objectives are being achieved.

Performance evaluation

Managers compare actual performance with the established standards.

Balance scorecard

Developed by Dr. Robert Kaplan and Dr. David Norton, this classic framework prevents companies from focusing solely on short-term financial performance.

Key performance indicator

are measurable values that show how effectively an organization is achieving its key objectives. They help managers monitor progress, evaluate success, and identify areas that need improvement.

Input indicator

measure the resources invested before work begins.

Activity indicator

measure the work or actions performed using the available resource

Output indicator

measure the direct products or services produced after completing an activity.

Outcome indicator

measure the short-term effects of the outputs.

Impact indicator

measure the long-term success of the organization.

Leading KPI

predict future performance and help managers take action before results occur.

Lagging KPI

measure the final results after work has been completed.

Financial KPI

Measure the organization's financial performance.

Customer KPI

Measure customer satisfaction and loyalty.

Employee KPI

Measure employee productivity and performance.

Operational Kpi

Measure the efficiency of business operations.

Sales and marketing KPI

Measure sales performance and marketing effectiveness.

Data management

‎ is the process of collecting, storing, organizing, protecting, maintaining, and using data so it is accurate, secure, and easy to access when needed.

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Decision support

is the process of using data, information, and analytical tools to help individuals or organizations make informed and effective decisions.

Data Collection

Gather data from various reliable sources.

Data storage

Store data securely in organized databases or data warehouses.

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Data processing

Clean, validate, and transform data into usable information.

Data analysIs

Analyze data using statistical tools, queries, and models.

Information generation

Convert data into meaningful, relevant, and timely information.

Visualization and reporting

Present information through dashboards, charts, and reports.

Decision support system

Use DSS tools and models to simulate scenarios, evaluate options, and forecast outcomes.

Evaluate alternative

Compare options based on data-driven insights, costs, risks, and benefits.

Decision making

Select the best course of action based on evidence and analysis.

Feedback loop

Monitor results and performance. Use feedback to improve data quality, processes, and decision-making continuously.

Financial information system

Is a type of business software used to input, accumulate, and analyze financial and accounting data.

Financial management system

Is a process and procedures that is used by an organization's management to exercise financial control and accountability.

Cash management

system collects information on all cash receipts and payments of a company on a real time or periodic basis. Such as daily,

weekly or monthly.

Investment management

Many businesses invest their excess cash inshort-term low-risk marketable securities in higher return alternatives, so that investment income may earned until the funds are required.

Capital budgeting

involves evaluating the profitability and financial impact of proposed capital expenditures.

Financial planning

Financial forecasts concerning the economic situation, business operations, type of financing available, interest rates, and stock and bond prices to develop an optimal financial performance of a business.

Equity finance

means exchanging a portion of the ownership of the business for a financial investment in the business. Equity involves a permanent investment in a company and is not repaid by the company at a later date.

Personal Savings

The first place to look for money is your on a savings or equity. Personal resources can include profit-sharing or early retirement funds, real estate equity loans, or cash value insurance policies.

Home equity loans

loan backed by the value of the equity in your home.

Friend And relatives

Founders of a start-up business may look to private financing sources such as parents and friends. It may be in the form of equity financing in which the friend and relative receives an ownership interest in the business

Venture Capital

refers to financing that comes from companies or individuals in the business of investing in young, privately held businesses.

Initial public offering

Are used when companies have profitable operations, management stability, and strong demand for their products or services.

Debt finance

Involves borrowing funds from creditors with the repaying the borrowed funds plus interest at a specified future time.

. BANKS AND OTHER COMMERCIAL LENDERS

-Are popular sources of business financing.

Bonds

Bonds may be used to raise financing for a specific activity.

Lease

method of obtaining the use of assets for the business without using debt or equity financing.

It is a legal agreement between two parties that specific terms and conditions for the rental use of a tangible resource such as a building and equipment.

Management report

- is a report that provides important information to managers to help them make decisions, monitor performance, and plan business activities.

Financial report

provide information about the company’s financial performance and position. They help managers analyze profits, expenses, assets, liabilities, and cash flow to make financial decisions.

Operational reports

focus on the day-to-day activities of the business. They monitor business operations, performance, and productivity to ensure that tasks are running efficiently.

Marketing report

provide data about market performance, customer behavior, and advertising effectiveness. These reports help managers evaluate marketing strategies and improve sales performance.

Human Resources report

focus on employee-related information such as attendance, performance, training, turnover, and compensation.

Project management report

Project management reports track the progress, budget, timeline, and risks of a project. They help managers ensure that projects are completed successfully and on time.