How to Become a Controller | A Day in the Life | Indeed

Summary

In this insightful video, Taylor, a controller at Lund Construction Co, takes viewers through a day in their life, showcasing the responsibilities of overseeing financial functions and large construction projects. With a background in business administration, accounting, and an MBA, Taylor emphasizes the importance of data-driven decision-making and adaptability in the role. The video also highlights the need for organization, attention to detail, and proficiency in financial software. Taylor provides career advice for aspiring controllers, suggesting relevant education and certifications, and touches on the unique aspects of construction accounting.

Takeaways

• 😀 Taylor, the controller at Lund Construction Co, has a day-to-day responsibility of overseeing financial functions and ensuring projects are on time and within budget.
• 📚 Taylor holds a bachelor's degree in business administration with an emphasis in accounting, a professional accounting certificate, a CPA License, and an MBA, although a degree is not strictly required for the role.
• 🗓 Taylor's schedule involves management meetings to review financial figures, budget discussions, and meetings with nonprofits and for software integrations, which suggests a structured but adaptable work routine.
• 💡 The importance of a controller lies in their ability to analyze data and make informed decisions about financial management, such as handling retentions or adjusting accounts payable.
• 🚧 The script highlights the unique challenges and responsibilities of a controller in the construction industry, including specialized tasks like work-in-progress schedules.
• 🛠️ A controller's role requires organization, meticulous attention to detail, and a passion for working with financial software and ERP systems to manage and analyze data.
• 🔮 Controllers often advise on financial decisions, but they must also be prepared to deal with the consequences of decisions made, even if they were not the ones who initially advised them.
• 🏢 The script suggests that while controllers are in high demand, the specific job description and responsibilities can vary greatly depending on the industry.
• 🏫 Taylor recommends starting with an accounting class to gauge interest in the field and obtaining a bachelor's degree in a related field, followed by a CPA License for professional credibility.
• 🌐 Taylor engages with other financial professionals for continuous education and to stay updated in the field, emphasizing the importance of ongoing learning for controllers.
• 🌟 The video concludes with a call to action for viewers to like, subscribe, and stay tuned for more content, indicating the educational and engaging nature of the channel.

Q & A

What is the role of a controller in a construction company?

A controller in a construction company oversees the financial functions, ensuring projects are completed on time and within budget. They are responsible for monitoring progress and making financial decisions based on data analysis.

What educational background does Taylor have?

Taylor has a bachelor's degree in business administration with an emphasis in accounting, a professional accounting certificate, a CPA License, and an MBA.

Is a degree necessary to become a controller?

Technically, a degree is not required to be a controller. One can work their way up through the accounting department, and there are successful examples of people doing so.

What types of meetings does Taylor have scheduled for the day?

Taylor has a management meeting to discuss year-to-date figures and budget, a meeting with a nonprofit organization, and a software integration meeting.

How does Taylor's job involve handling unexpected financial needs?

Taylor's job requires being ready to handle fast money needs such as issuing checks or providing equipment when required, despite having a generally steady schedule.

What is the importance of a controller's ability to view and analyze data?

A controller needs to view and analyze data to make informed decisions about financial matters such as managing retentions, old accounts receivable, and accounts payable, which vary for every company.

What challenges might a controller face when giving advice?

One of the challenges a controller might face is that not everyone will take their advice. They must be prepared to deal with the consequences of any decision made and continue to advise and guide the company.

What personal qualities are important for a controller?

A controller should be super organized, meticulous, detail-oriented, and have a passion for working with software, ERPs, and financial data dashboards.

What is the significance of the work-in-progress schedule in construction accounting?

The work-in-progress schedule is specific to construction and is not part of financial statements in other industries. It is crucial for managing long-term contracts in construction.

How does Taylor stay updated in the field of finance?

Taylor meets monthly with other financial professionals to create content for further education, which helps in staying updated and also sharing knowledge with others.

What advice does Taylor give for someone interested in becoming a controller?

Taylor suggests starting with an accounting class, obtaining a bachelor's degree in business administration or finance, getting a CPA License, and considering an MBA. She also recommends choosing an industry one is passionate about.