What Are Differences Between "CFO- Chief Financial Officer" and "Financial Controller" Position?

The Financial Controller is often thought of as the head of the accounting department, although this role shouldn’t be confused with that of a bookkeeper. The primary function of the Controller is to maintain and operate the books and records of the business, looking back at data already generated. Under the guidance of the CFO, a Financial Controller also maintains standard operating procedures for all accounting and bookkeeping functions.

 

The CFO is the financial leader of an organization, overseeing accounting, finance, payroll and tax departments. While the primary function is to look ahead, the CFO must also be able to understand past financial performance in order to accurately predict the organization’s financial future.

Both roles need to exhibit excellent leadership skills. However, a CFO must also be adept at analysis and strategic planning. The CFO uses the accounting reports and financial statements provided by the Controller to analyze the company’s performance, monitor growth, and develop forecasts. This information is used by the CFO to assist the Chief Executive Officer (CEO) in identifying risks and opportunities for the business. The CFO performs analysis based on accounting reports and forecasts to help develop the long-term strategic vision and goals for the company. Whereas a Controller can likely be successful with only a moderate understanding of operations, the CFO needs to have a deep understanding of the business operations to provide effective leadership and direction. Typically, the Controller reports to the CFO.

chief financial officer oversees the work of financial controler

 

CFO (the corporate executive having financial authority to make appropriations and authorize expenditures for a firm) FC is a person who supervises accounting and financial reporting within an organization. A controller is an accountant in a business who oversees accounting and the implementation and monitoring of internal controls.

CFO deals with strategic financial planning, financial risks management and assessment and may deal with aspect of dealing with financial recording.

 

Financial controller usually overseers aspect of financial operations such as reporting, financial management and Auditing.

The CFO is almost always a qualified accountant.  A financial controller, particularly in a smaller business, may not be.