Financial controller skills and qualifications

a Financial controller working through reports

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Financial controller skills
Financial controller soft skills
Financial controller job description

Financial controller qualifications
Become a financial controller

What skills does a financial controller need?

A financial controller is responsible for overseeing a company's financial health, and as such needs to have a strong understanding of finance and accounting principles.

Skills a financial controller need include:

Strong analytical abilities are required for financial reporting when analysing financial data to identify trends and opportunities in accordance with the business strategy.
Excellent accounting knowledge to accurately prepare financial statements.
Proficient in MS Excel and other financial software for financial planning, forecasting and general database management.
Good leadership and communication capabilities to effectively manage and communicate with staff at all levels of the organisation.

What human skills should a financial controller have?

Human skills are also valuable to a financial controller role.

Some necessary soft skills include:

Attention to detail – to ensure all financial transactions are properly accounted for
Strong organisation skills – to manage and keep track of multiple financial tasks simultaneously
Problem-solving skills – to be able to identify and resolve financial issues as they arise
Time management skills – to ensure deadlines are met

What is a financial controller job description in Australia?

Reporting into the chief financial officer, a financial controller is responsible for delivering financial performance of their division or business unit to meet or exceed corporate targets. The person in this role will:

Provide final review of balance sheets and cash flow forecasts
Support the development of divisional budgets
Prepare divisional monthly management reports
Conduct divisional expense analysis for financial performance reports
Monitor division expenditure, cash receipts and forecast changes to the division budget
Control allocations to division projects forecast variances between actual results and budgeted results
Reconcile bank accounts; assist with preparation

What qualifications does a financial controller need?

A financial controller typically has a degree in accounting or finance, or needs to complete a professional accounting qualification such as CPA or CA. Many employers also prefer candidates with experience in financial analysis, financial modelling, and Microsoft Excel.

Do you need to study or go to university to become a financial controller?

Most employers typically require applicants to have a bachelor's degree in accounting or finance or a certified public accountant certification when applying for the position of financial controller. However, it's not possible to work as a financial controller straight out of university. Most people start out as accountants and auditors before progressing to financial controller.

This means that if you want to work as a financial controller, it's a good idea to study accounting or finance at university.

How do you become a financial controller?

The best way to become a financial controller is to gain experience in accounting and financial management. This can be done by studying at university to gain a degree in accounting or finance, or completing a professional accounting qualification such as CPA or CA. You can also gain experience through working in various accounting department roles such as a bookkeeper, accounting manager, or finance officer.

In short, it takes strong analytical abilities, excellent accounting knowledge, good leadership and communication skills, and proficient use of financial software. Human skills such as attention to detail, organisation skills, problem-solving skills, and time management skills are also important.

You can start developing your skills today! Access Hays Learning in seconds and become familiar with our easy-to-use free online learning platform.

Learn more about financial controller jobs in Australia, financial controller salaries and what's involved in a financial controller job description.

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