By Matt Quon.
Your company may find itself in a situation where the controller position is vacant, with no replacement at hand. Operating without a controller for a significant time presents risks—it could mean inaccuracies in internal financial reporting or reports not being produced, which can impair business decision-making.
To help clients through this transition, Walsh King provides temporary controller functions. As business advisers and private practice accounting experts, we have the technical knowledge and experience to fill the gap.
In the past, we have performed these controller functions for our clients until they found a replacement:
- Ensured the completion of monthly bank reconciliations
- Analyzed revenue fluctuations, variances in profit margins and monthly expenses
- Reviewed accounts receivable and accounts payable aged listing reports and provided support to accounting clerks
- Maintained general ledger accounts
- Prepared non-routine journal entries such as revenue adjustments and period-end accruals
- Produced internal financial statements
- Facilitated month-end meetings with business owners, summarizing financial performance
- Coordinated with the year-end audit team and assisted with preparing reconciliations and working papers
Serving as a temporary controller also lets us work more closely with you, getting to know your business and its challenges better. This opportunity allows for additional services such as:
- Training accounting staff on complex accounting theories
- Improving internal reporting to make it more useful for the business owner
- Identifying inefficiencies in the accounting system and procedures
- Evaluating the competency of accounting staff
HOW WALSH KING CAN HELP
Walsh King is committed to helping our clients through any challenge. Whether it’s filling in as a temporary controller or helping to recruit senior financial officers, we’re here to support you and offer perspective from our wide range of private business experience.
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