Role Of Financial Controller
The company which is chosen for the current assignment is Nestle Malaysia BHD. The company involves in producing and processing dairy products in Malaysia. Apart from dairy products the company is also involved in offering various nutritional food supplements for the consumers. Major part of the company’s revenue comes from the dairy and dairy based products. The company enjoys a a larger market share which is next to Dutch Lady. Netsle has crossed a total turnover of more than RM 5 billion and has achieved a net profit of RM 570 million recently. The company has also registered a higher market share when compared with the previous years. (Nestle, 2013) The executive committee of the orgamisation is poised to enhance the livelihood of the individuals by offering healthy products. The company takes itslef in pride stating that “Good Food – Good Life” – a core philosphy which is concentrated in improving the well being of all age groups. The company’s broad philophy includes: Lead to win, manage effectively and efficiently to achieve the stated results, grow talents and teams in the organisation, connect extrenally with the public and always see from stakeholders point of view. The company always adhere to the competition act of 2010, and continues to abide by all the laws of the nation.
The role of financial controller is many fold, it involves the following steps
- Planning: The first and foremost aspect is planning, the financial controller need to estimated the future cash inflows and outflows. The company is involved in producing, processing and distributig food products. Therefore, it must ensure that all the raw materials are available and there is no shortage of raw materials. The financial controller ensures that there exist a smooth flow of goods from the production plant to the hands of the customers. Also, the financial controller is involved in planning the accounts receivables and credit period. (Weygandt, 2013)
- Directing and motivating: Financial controller also involves in directing and motivating the management. He ensures that all the planned activity is carried out effectively. Also, the future cash needs of the firm is estimated accurately and proper alternatives are identified. This assists the firm in running the business effectively without any shortage of funds. The financial controller prepares the guidelines which enables in fixing up the credit period allowed for the distributors, analyses the cash cycle and effectively identifies alternative source of capital (both short term and long term) to match the goals of the organisation