The job of the corporate controller –prospects and pitfalls

The job of the corporate controller –prospects and pitfalls3

The position of the corporate controller, or company controller, has become an important one in companies today. This is a role that has come into being following the evolution of the corporate setup, which has brought with it many changes. The corporate controller has come into existence because of these changes.

In simple terms, the corporate controller is one who can be defined as the chief accounting officer. She is to accounting what the chief executive officer is to the organization, or what the chief technology officer is to technology. In other words, the corporate controller heads the accounting department. She usually, but not necessarily, reports to the Chief Financial Officer (CFO) in large companies, and to the CEO in smaller ones.

Since this is the primary job of the corporate controller; she is given responsibility for the entire accounts aspects of the company.

A few areas of responsibility

The job of the corporate controller –prospects and pitfalls

Some of the elements for which the corporate controller is responsible include these:

  • The company’s financial statements
  • Tax compliance
  • Payroll
  • General ledger
  • Cost accounting
  • Budgeting
  • Accounts Payable
  • Accounts Receivable

People in many important positions in accounts report to the corporate controller. This is especially so in larger organizations. Some of the positions that report to the corporate controller include accounting manager, cost accounting manager, tax manager, accounts payable manager, credit manager, and payroll manager. Although this is a not a formal or strict reporting hierarchy; this is the pattern that can be generally expected in bigger companies, whereas in smaller ones, the corporate controller runs the show singlehandedly.

Get to understand the nitty-gritty of the role of the corporate controller

Do you want to understand the role of the corporate controller in greater depths? Do the prospects of becoming one entice you? Are you excited to explore the challenges, perks and risks of being a corporate controller? Then, a two-day seminar from GlobalCompliancePanel, a leading provider of professional trainings for all the areas of regulatory compliance, is what you need.

At this seminar, Miles Hutchinson, who is President, Sales Tax Advisors, Inc., and an experienced businessman, will be the Director. From being an auditor with PriceWaterhouseCooper and the Chief Financial Officer of a one billion dollar real estate development company; Miles has been a professional speaker and consultant who has presented over 2,500 seminars and training sessions on a myriad of business and financial topics.

In order to get a thorough understanding of this topic and what it takes to be a corporate controller, please log on to The job of the corporate controller –prospects and pitfalls to enroll for this seminar.

Ways of transitioning into the position of corporate controller

The job of the corporate controller –prospects and pitfalls1

Miles will show what it takes to successfully transition into this key position. He will help participants identify the necessary core competencies of the role and become more self-assured as they work to properly define this role for them and their company. This seminar is a very practical one that is designed for financial professionals on the fast track to top management and helps to elevate people in positions such as Corporate, divisional and plant controllers, Assistant controllers; chief accountants, budget directors, Finance and accounting managers, financial analysts, accountants, and Auditors who need to understand the corporate accounting cycle to audit effectively.

Over these two days, the Director has spelt out the following agenda:

Finally, Miles will suggest recommended resources on this topic.

 

 

GlobalCompliancePanel Professional Training and Development Courses with Flat 50% OFF on all Seminars

Do celebrations need a cause and a reason? Yes, and GlobalCompliancePanel, a leading provider of professional trainings for the regulatory compliance areas, is having a solid cause and reason for doing so. It is celebrating the many years of its relationship with its customers spread all over the world by offering its trainings at a massive 50% discount!

Yes, that is right. GlobalCompliancePanel’s seminars will be available for a huge 50% discount till March 31. Regulatory professionals who want to augment their knowledge of regulatory compliance can now do so by paying just half the price of these trainings from GlobalCompliancePanel. All that is needed to do walk away with a rare offer such as this is to visit http://www.globalcompliancepanel.com/ and use MGCP50 Promo Code.

This offer is valid till March 31, 2017. Regulatory professionals who want to take any of GlobalCompliancePanel’s trainings can book their trainings for an area of their interest by this date. From April 1 onwards, this offer will cease, meaning that the original price will apply from then.

So, why is GlobalCompliancePanel offering this discount? It is for a simple, but profound reason: It wants to thank its huge customer base for the support they have been extending to this company over the many years for which it has been in business. During the course of the 10 years for which GlobalCompliancePanel has been in business, it has trained thousands of regulatory compliance professionals from around the world.

These professionals, belonging to such varied geographies as the US and Japan and India and Canada, have been able to meet their regulatory compliance challenges on account of these trainings. These trainings are relevant, focused and valuable, and are from some of the best known regulatory compliance Experts found anywhere on this planet.

It is these trainings that have been hoping these professionals in the regulatory compliance arena gain more insights into regulations from the FDA, the EMA and other such bodies around the world. These trainings have been consistently helping them to meet these challenges, as they give them a better and sharper understanding of the implementing these requirements.

These regulatory requirements can pose hurdles to the most experienced and brightest of regulatory compliance professionals in the medical devices, pharmaceutical, life sciences and food and biologicals areas, but not to those who undertake professional trainings from GlobalCompliancePanel. GlobalCompliancePanel’s panel of experts is here to help them overcome these challenges and hurdles.

This trend has been being witnessed from the time GlobalCompliancePanel entered the line of professional trainings. Any wonder then, that no fewer than 50,000 professionals have benefited from these trainings? What could be a better way of thanking such a huge base of customers than with this offer? GlobalCompliancePanel believes that a celebration should also be useful, and this is that this offer is!

Hurry up and enroll today. Happy learning!

Payroll laws are varied, hence need to be applied thoroughly and thoughtfully

 

Payroll laws set out the rules for which payroll regulations are to be enforced. Payroll laws and regulations have been enacted since it is through the payroll that employees not only get paid; it is also the same source for taxation and other deductions. Every organization that has a payroll system has to adhere to these payroll laws and regulations. The federal Department of Labor (DoL) sets out payroll laws and regulations, which the Internal Revenue Service (IRS) enforces. Payroll laws and regulations apply at the State and local levels.

Purpose of payroll laws

The fundamental function of payroll laws and regulations is to ensure that employers pay their employees the wages in accordance with the minimum wage limit set out by federal laws. Payroll laws and regulations are meant to ensure that employees do not get underpaid for their work.

The federal government makes a few deductions as part of payroll laws, while a few other kinds of deductions are levied by the States, and this rate varies from state to state. Ensuring compliance with the requisite payroll laws is an obligation on the part of employers who are bound by the provisions of the payroll laws. Employers who fail to do so invite legal action from the DoL.

In order to comply with the set payroll laws; professionals in charge of payroll functions in organizations need to have a complete and proper grasp of the way payroll laws are enacted. They need to be completely clear about the exact laws that they need to apply, the ways of doing so, the implications of not getting payroll laws right, and so on. All these will be part of a very valuable training session that GlobalCompliancePanel, a leading provider of professional trainings for the regulatory compliance areas, is organizing.

At this two-day seminar, Miles Hutchinson, who is President, Sales Tax Advisors, Inc., and is a CGMA and experienced businessman, who brings over 35 years in the field, will be the Director. To register for this important learning, please visit http://www.globalcompliancepanel.com/control/globalseminars/~product_id=900838SEMINAR?wordpress_seo .

Helping with an understanding of payroll laws in their entire depth

Miles will help participants augment their learning and understand how to handle their role with confidence. He will cover a very broad range of topics that includes:

  • Worker classification
  • Employee classification
  • Establishing methods and rates of pay
  • What must be included in the rate of pay
  • Hours that must be compensated as worked time
  • Required benefits
  • De Minimus working fringes
  • Withholdings and deductions from pay
  • Voluntary deductions
  • Child support and garnishment orders
  • Payroll reporting
  • Analysis of risks of noncompliance
  • Proper documentation of policies and procedures
  • Record retention requirements.

Understanding the sources of laws and knowing how to locate them

The core of this session on payroll laws is that it will help participants understand the sources at which they can locate the laws, how to interpret them and how to apply them in the most effective ways. This learning will give the participants the skill and knowledge they need to master the laws and identify the best practices that ensure compliance from their organization and out of court. This is a big money saver for sure.

Miles will help participants who are concerned about their company’s ability to comply with U.S. labor and payroll laws with a formal study of the rules of engagement. This will help ensure that their company pays their employees fairly and handles tax and other withholdings appropriately, as mandated by law.

Getting overtime pay calculation wrong can be damaging for the employer

A thorough grasp of the subtleties of the Fair Labor Standards Act (FLSA) continues to elude many employers, even though this Act has been around for a long time. The frequent changes that keep happening to the many regulations of the FLSA from time to time are one of the major reasons for this. These changes have employers, employees and attorneys scrambling for the meaning, interpretation and application of the new regulations, resulting in a huge load of extremely expensive FLSA lawsuits under this legislation.

Most of these legal disputes arise because attorneys make impermissible deductions from wages. They don’t count all the hours an employee has worked in determining overtime due, or they get their calculations plain wrong.  An idea of the magnitude of the effects of this misunderstanding of the provisions of the FLSA by employers can be had from the fact that The Department of Labor (DoL), which is already operating on a budget of $311 billion; requested an additional $104.5 billion for its 2015 budget for discretionary and mandatory programs. All these point to a new vigor and zest in this department in cracking down on false calculations and other improprieties.

pay

Learn the nuances of overtime pay

In order to clear the misunderstandings anyone may have about the various elements of this law; GlobalCompliancePanel, a well-known provider of professional trainings for the areas of regulatory compliance, will be organizing a two-day seminar. Susan Fahey Desmond, a principal with Jackson Lewis PC, who has been representing management in all areas of labor and employment law for over 30 years, will be the Director of this seminar. To enroll for this highly valuable learning session, please log on to

http://www.globalcompliancepanel.com/control/globalseminars/~product_id=900679SEMINAR?calculating-overtime-correctly-SFO-CA.

At this seminar, Susan will go through all of the nuances of the FLSA and will cover the most frequent mistakes employers make repeatedly. She will explain the employer/employee relationship under the FLSA in detail, and will offer a description of areas such as the exemptions and what time is compensable. Another important learning of this seminar is about ways by which employers can decrease their overtime liability.

Susan will cover the following areas at this seminar:

  • Understanding the employer/employee relationship under the FLSA
  • Analysis of independent contractor v. employee
  • Volunteers and trainees
  • Exemptions – managerial, administrative, professional, outside sales, specific industry exemptions, the Motor Carrier Act
  • What is Working Time with discussion of the Portal to Portal Act
  • New Requirements for Breastfeeding Mothers
  • Calculating Overtime Correctly – determining the workweek and calculations.
  • Using approved ways to reduce overtime liability – fluctuating workweek, Belo Plans, Union Employee Plans, compensatory time
  • Minimum Wage Requirements and handling of deductions like garnishments, employee theft, company equipment, etc.
  • Child Labor laws – when they can work, what they can do, what breaks are required
  • Recordkeeping Requirements

Assessment-based prediction is the basis to good candidate hiring

Hiring is among the most important activities for an organization, because it is the process by which the organization takes in its most important resource –people. At the time of hiring, as well as while considering promoting, HR and the other important decision makers need to make up their mind by asking critical questions with which to make predictions about a potential hire. These questions could relate to how well the resource can perform in the assigned role, for how long the resource could stay in the organization, and making an assessment about the person’s ability to handle more responsibilities.

Not all HR and other hiring managers could be right all the time in predicting the outcomes of their actions about a candidate; yet, a good understanding of principles of assessing the candidate, combined with proper preparation and inculcation of a little disciple will go a long way in helping them become more accurate in their predictions. When the hiring managers are not too way off their mark in predicting the attributes of a useful hire, they are more likely to get a better candidate and avoid much of the unpleasantness that a bad hire can cause.

Learn the art of predicting the usefulness and relevance of a candidate

It is to equip participants with the tools needed to design a process for selecting and promoting for any position across any industry that a two-day, in person seminar is being organized by GlobalCompliancePanel, a leading provider of professional trainings for the areas of regulatory compliance. This seminar’s Director is Harry Brull, who is President, Laurdan Associates, Inc. and Co-Founder of BCG Consulting Group.recruiter

To get an understanding of how to get the right insight into a selection process that is relatively error-free and effective, just log on to

http://www.globalcompliancepanel.com/control/globalseminars/~product_id=900715.

Insights into getting the hiring and promoting process right

At this seminar, Harry will explore the use of standardized instruments in designing and using simulations for maximizing return on references. This is in addition to the most often-used selection tool, the pre-employment interview.

He will also discuss other important areas of the hiring process, like defensibility and avoiding complaints from unsuccessful applicants, ways of judging a candidate’s interpersonal skills, other capabilities and motivators, and other factors which determine whether there is a good fit between the individual, the position, and the organization.

In addition, Harry will also look at adding other selection tools such as testing and simulations (job samples) to the selection tool mix, which can greatly improve prediction accuracy and provide an alternative view of candidate skills, and techniques which improve the usefulness of reference information, including eliciting vital information from sometimes reluctant sources.

Handle internal investigations thoroughly, else employees could approach law agencies

Employees have a right to approach external sources such as the Equal Employment Opportunity Commission (EEOC), the National Labor Relations Board (NLRB), Wage and Hour, private attorneys, and juries against the employers, when feel that their legitimate complaints are not being heard by their employers.

But first, a clear definition has to be made of what constitutes legitimate complaints and a distinction has to be made between legitimate and unsubstantiated complaints. This is because employers are legally empowered and obliged to carry out certain kinds of investigation, namely the kind done on what the law considers as a legitimate employee complaint, and not others. It is thus important for employers to have a thorough understanding of what type of complaint is considered by the law as legitimate and what is not.

Follow the procedures to be safe at investigations

This distinction determines whether the employee will go to any of the external agencies mentioned above to complain against the employer or not. Further, quick and sound action that is legally compliant will also help juries or other agencies decide whether or not the employers took quick and appropriate action to address legitimate employee complaints. Following the right procedures will help to protect the organization against such complaints, if the juridical sources find that the employer took the right action on time to redress the employee’s legitimate complaint.

hr

HR has to be quick and has to think on its feet if it is to avoid giving the employee the opportunity to approach an external agency, the fallout of which can be potentially damaging. In order to help HR professionals understand the way by which to carry out a legally tenable and fair investigation of the complaints; GlobalCompliancePanel, a leading global provider of professional trainings in all areas of regulatory compliance, will organize a two-day seminar.

human-resources

To enroll for this seminar, please log on to

http://www.globalcompliancepanel.com/control/globalseminars/~product_id=900677SEMINAR?conducting-internal-investigations-San-Diego-CA.

Susan Fahey Desmond, a principal with Jackson Lewis PC and noted author and speaker, will be the Director of this seminar.  Susan will offer a thorough understanding of how to classify a complaint by the employee as a legitimate one. Lack of this knowledge on the part of the organization’s HR will result in having to battle it out in court.