If you want to become a controller, you will need to advance from an entry-level or career level accounting position to the highest level position in finance. For students who are setting their sights high before they graduate from school, mapping out the career path that they must take to achieve their long-term goals is key. By mapping out the steps that you must take to become qualified for controller roles, you can check off each step that you accomplish so that you can continue to push yourself to achieve. Read on, and learn about each step you must take before entering school to eventually become a qualified finance officer.
Earn Your Bachelor’s Degree Majoring in Accounting
The most critical step to becoming a controller is getting a high quality education. When you are enrolling in school, you need to be sure that you choose a bachelor’s degree program that is accredited by a reputable accounting accreditation council. You can earn your undergraduate degree in either finance or accounting as long as it is accredited by the Association to Advance Collegiate Schools of Business. If the program is accredited by this specialized body that evaluates business programs, you have peace of mind in knowing that your credits will be recognized by credentialing bodies and other business schools. If the program is not accredited, it is best to stay away or you may have to spend more time earning additional credits.
Earn an Advanced Degree in Finance
To hold the title of controller, which is a high level role, you must have advanced knowledge in finance. This is why all controllers have a minimum of a master’s degree. You will need to major in accounting, business, or finance, but be sure that you take a heavy load of courses on private organization finance principles and theories. Some individuals who have goals to earn the title of controller for an organization with $500 million or more in sales, you may need a Ph.D in Finance to be considered. Even with your Ph.D, you are going to need to get a reputation by gaining experience in the field. Working your way up to controllership is key.
Get Certified With the Right Designation
There are a variety of designations in finance that you can earn depending on the setting you plan on working in as you climb the ladder. If you plan to use your accounting degree to start in public accounting while you gain your experience, you should sit for the Certified Public Accountant test so that you can earn your CPA designation. If you plan to work in a corporate setting from the start, it is best to sit for the Certified Management Accountant designation so that you are prepared to get promoted.
Network as You Climb Up the Ladder
Unless you have proven yourself as a controller at another organization, you are going to have to climb up the ladder. If you work in public accounting and you do audits of companies, you may be able to go straight into controllership in the private sector. If you work as a staff accountant, you may need to work through the ranks. As you do this, be sure to build a network.
Related Resource: External Auditor
It is not easy to move up from accountant to controller. You will need accounting skills, soft skills and management skills. Take these steps to become a controller, and beat out the competition so that you can achieve your goals.
