Assistant Controller Career Guide

What is an assistant controller?

An assistant controller is a finance pro who helps the main finance boss, like a controller or CFO, keep track of a company’s money and how it’s handled. This job usually pops up in big companies where managing money is complex and requires a lot of checks. They make sure that the company’s money reports are on time and follow the rules.

Duties and responsibilities

Assistant controllers do a mix of leading others and hands-on money work. They help put together important reports and budgets, check the accounting work to verify there are no mistakes, and help close out the books at the end of the month or year. They also guide and check on the work of junior accountants, help with audits and taxes, and suggest ways to improve the accounting process.

Work environment

Assistant controllers work in offices where they team up with other finance and accounting folks. They often talk to different departments to get and share important financial info. They use a lot of tech tools to manage and look over big amounts of financial data. 

Typical work hours

Assistant controllers usually work a regular 40-hour week, but sometimes they need to work extra during busy times like the end of financial quarters or years. This can mean starting early, staying late, or working some weekends.

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How to become an assistant controller

Becoming an assistant controller means you need the right education and some hands-on experience. Here’s a simple guide on what to do:

Step 1: Get a bachelor’s degree

Start by getting a bachelor’s degree in accounting, finance, or business. You’ll learn about managing money, accounting, and business laws in these programs.

Step 2: Work in accounting or finance

After college, work as an accountant, financial analyst, or auditor. These jobs help you use what you learned in school and improve your ability to analyze finances, manage budgets, and prepare financial reports.

Step 3: Get certified

It helps to have a certification like a Certified Public Accountant (CPA) or Certified Management Accountant (CMA). These make you look more professional and teach you more about finance and accounting.

Step 4: Consider a master’s degree (optional)

Some people go for a master’s degree in business (MBA) or accounting. This is extra and not required, but it can help if you want to move up to higher management jobs or work in big companies.

Step 5: Apply for jobs

With your degree, experience, and maybe a certification, you’re ready to apply for assistant controller jobs. These jobs are available in industries such as manufacturing, retail, or healthcare.

Step 6: Keep learning

Even after you get the job, keep learning about new trends and rules in finance. You can go to workshops, take advanced courses, or get more certifications.

Online courses to consider:

• Learn to analyze companies with a course on Analyzing Company Performance Using Ratios. 
• Understand how to think like a CFO with Coursera’s Think Like a CFO. 
• Improve your reporting skills with Udemy’s Advanced Excel for Financial Reporting and Financial Analysis.

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How much do assistant controllers make?

Assistant controller salaries can be influenced by their location, years of experience, level of education, industry, and the company’s size. In addition, their responsibilities and job complexity can significantly impact income. Some may receive additional compensation through bonuses, profit sharing, or commissions.

Browse assistant controller salary data by market

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Types of assistant controllers

Assistant controllers have different jobs depending on where they work. Here’s a quick look at what they do in different settings:

• Corporate assistant controller: These guys work in big companies, helping to manage all the money stuff. They make reports, enforce rules, and oversee the team that handles the finances.
• Nonprofit assistant controller: In nonprofits, money management has to follow strict rules because they get checked a lot. These assistants ensure everything from budgets to reports fits these special rules.
• Manufacturing assistant controller: In places that make products, they monitor the costs of making things, how much stuff is stocked, and how efficiently everything is made. This is super important for planning how to spend money in manufacturing.
• Government assistant controller: Because they handle taxpayer money, government agencies need to be very careful. Assistant controllers help make budgets, do audits, and ensure all money matters are by the law.
• Healthcare assistant controller: These assistant controllers work in hospitals or clinics, managing the finances related to patient care, insurance, and department budgets. They check that everything follows health rules and money guidelines.
• Small business assistant controller: In a small business, assistant controllers do a bit of everything — from keeping books and handling paychecks to making financial reports and following the rules. They really need to know all parts of the business’s finances.

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Top skills for assistant controllers

To succeed as an assistant controller, you need some key skills. Here’s what tops the list:

• Solid accounting knowledge: First up, you gotta understand accounting inside and out. Getting this right keeps everything accurate and follows the money rules.
• Analytical skills: Next, being good at analyzing is crucial. This helps the company make smart financial choices.
• Attention to detail: When it comes to finances, even small mistakes can cause big problems. Being super careful and paying attention to the details ensures that all financial records are spot-on.
• Communication skills: You also need to be great at sharing information. Good communication means everyone understands the financial situation and any big decisions that need to be made.
• Proficiency in financial software: Finally, knowing your way around financial software is essential. Being skilled here makes handling lots of financial data way easier and more accurate.

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Assistant controller career path

Gain experience 

Early in your career, you might work as a staff accountant or financial analyst. These jobs let you get hands-on with tasks like making financial reports, setting budgets, and analyzing financial data. This experience is critical to really understanding how a finance department works.

Become an assistant controller 

After a few years and a lot of experience, you might step up to become an assistant controller. This job involves helping to manage the company’s finances, like preparing financial statements, overseeing budgeting, and making sure all the financial work follows the rules.

Move up to controller 

With even more experience and strong leadership skills, an assistant controller can become a controller. This role has more responsibility, including managing all a company’s financial activities and making big financial decisions.

Aim for CFO 

The next step up could be becoming a chief financial officer, where you get to handle big-picture financial planning, deal with people who have a stake in the company, and make major executive decisions.

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Similar job titles

• Account Manager
• Auditor
• Chief Financial Officer
• Controller
• Financial Analyst
• Finance Director
• Staff Accountant

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Assistant controller position trends and outlook

As technology and financial systems get more advanced, assistant controllers must be tech-savvy, especially with different financial software and data analysis tools.

Businesses are always trying to stay stable and grow, especially when the economy keeps changing. Assistants who are good at planning for the future and managing costs are in high demand because they help companies stay on top of their game.

Employment projections

According to the U.S. Bureau of Labor Statistics, the demand for financial managers is expected to jump 17% through 2031, much faster than most jobs. This growth is fueled by the need for better risk management and making decisions based on data. So, if you’re good with tech, financial data, and strategic thinking, you’re likely to find plenty of opportunities.

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Assistant controller career tips

Understand your industry’s financial scene

Get to know the financial ins and outs of your industry. This includes the rules, trends, and key metrics that matter.

Get good at financial reporting

In this job, you’ll need to create financial reports regularly. Make sure you know the basics of financial reporting, budgeting, and future financial predictions.

Know your tools

Learn about the financial software that’s important in your industry. Tools like QuickBooks, SAP, or Oracle are your best friends when managing finances.

Boost your communication skills

You’ll need to talk about complex financial details with other teams, auditors, and big bosses. Being clear and effective in your communication is vital.

Stay ethical

You’ll handle sensitive financial info, so it’s important to stick to high ethical standards like keeping secrets safe and being honest.

Continue learning

The financial world keeps changing. Stay sharp by learning continuously. You can take CPA or CMA courses or get trained in new financial software.

Lead the way

You might end up leading a team. Work on your leadership skills to inspire and manage your team well.

Network

Building connections can lead to learning new things, finding mentors, and even discovering job opportunities. Check out groups like the American Association of Finance and Accounting (AAFA) or the Financial Executives International (FEI).

Stay on top of tax rules

Tax laws can change a lot. Keep up to date to make sure your company follows all the tax rules.

Learn to read financial data

Being able to look at complex financial data and understand what it means can help you make smart decisions and offer great advice.

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FAQs