ACCOUNTING AND AUDIT

TERESHHENKO Oleh ¹

¹SHEE “Kyiv National Economic University named after Vadym Hetman”
OrcID ID : https://orcid.org/0000-0001-8808-1383

Professional competences of financial controller and his role in finance and economic decision making

Despite numerous publications on controlling there is still lack of conducted research concerning practical issues of financial controller’s professional competences. The article investigates the essence of financial controlling and its role in finance and economic decision-making. Financial controlling is defined as a new functional direction of domestic economic research and practice, although some of its elements have been used in domestic enterprises for a long time. Financial controller uses budgeting, strategic planning, management accounting, financial diagnostic, risk management, financial communication, internal consulting and control instruments to achieve the objective of financial decision rationalization and corporate value maximization. Core professional competencies of financial controller, such as: coordination and methodical support of budgeting and budgetary control, ensuring management accounting and reporting, internal and external financial consulting, analytical and methodical support of financial decision making, internal financial control are detailed in the given article. Key professional competences are defined according to the conducted research to streamline financial controller’s tasks. The professional competences list can be used for development of a financial controller’s job description.

Keywords: controlling, financial controlling, management accounting, internal control, reporting, professional competences of a controller

JEL: M40, M41

Tereshhenko O. . Professional competences of financial controller and his role in finance and economic decision making / O. . Tereshhenko // Фінанси України. - 2014. - № 9. - C. 31-42.