Law Firm Controller Salary

The Robert Half Salary Guide 2022 lists the role of the controller as one of the hottest jobs in finance and accounting. What can you expect as a controller, assuming you have the skills and experience required for the specific position and employer you are targeting? There are no strict training requirements for those who want to become business controllers. Unlike a doctor, who requires medical school and passes medical committees, or a lawyer, who needs law school and then the bar exam, a person without a university degree can theoretically serve as a controller. However, „theoretical“ is the key word in this sentence. In today`s job market, almost every company hiring for the position of controller wants to see at least a bachelor`s degree and preferably a master`s degree, and they usually want certified public accountants (CPAs) as well. Forecasting is an important part of the work of many controllers. Creating a budget that distributes expenses in the most promising way requires an accurate projection of the amount of money that will come in during the same period. In a large company, the controller`s department usually consists of analysts and other skilled professionals who extrapolate internal and external data to produce the most accurate sales forecasts. Again, the comptroller cannot perform these tasks alone, but is responsible for reviewing the work of his employees and using their results to make final decisions on budgetary matters. The Comptroller manages the accounting records and is responsible for the preparation of financial reports. For listed companies, these reports are required by law for shareholder review.

The Comptroller is responsible for ensuring that they are issued in a timely manner in accordance with generally accepted accounting principles (GAAP) and that they fairly and accurately reflect the Company`s current financial position. Connect directly to the controller and assist with various accounting and planning functions for busy law firms and multiple affiliates. The controller plays a huge role in formulating the company`s budgets and ensuring that expenses are in line with expected revenues. The work requires ensuring that the company takes responsibility on time and that debts are properly repaid. In most organizations, these tasks are delegated to employees, such as an accounts payable manager who reports to the controller, but the responsibility stops with the controller. Ultimately, it is their responsibility to ensure that budgets make sense and that payments are made on time. The position of financial controller or auditor involves the management of a company`s financial services. These departments may include the accounting department, the budget department, the audit department, and any other finance-related department. Financial controllers have many tasks, such as preparing critical financial reports, profit and loss accounts, balance sheets and financial prospectuses. You also need to create reports that predict a company`s financial performance. Keep in mind that many employers also offer bonuses and other incentives for accounting and financial executives such as controllers.

Depending on the organization you apply to and trends in your local job market, you may receive more than the national median salary for the controller position. Any experience in a law firm is a plus. Owners of large law firms have the advantage of a managing partner (or CEO/CEO), a chef. Other qualifications employers look for in a controller include: To be competitive, potential controllers must start with a university major in accounting, economics, finance or statistics and follow up with an MBA or Master of Accounting (MAcc). Mastery is more than proof of education; It also meets the educational requirement to take the CPA exam, something an aspiring controller should have on their resume. A mid-sized law firm based in Nashville is looking for a controller/administrator to manage the company`s operations, including financial and accounting operations. Personnel management tasks are also often part of the controller`s job. And in some companies, a controller may be the sole accountant of the organization.

In no area are companies scrutinized and regulated more closely than in the financial sector. In the wake of the 2008 financial crisis, a host of new regulations dictated how businesses must manage their finances and report their financial situation to the public. Listed companies must submit their accounts to annual audits by third parties and make the results of these audits available to the public. It is the controller`s responsibility to coordinate this process and ensure that auditors have all the information they need to accurately assess the company`s financial statements. The controller must keep abreast of all local, state, and federal tax laws and business regulations affecting their business and ensure that the company is operating within the correct parameters. Most people don`t become controllers right after school. To reach this position, one must be prepared to climb the ladder, often starting with thankless jobs like entry-level accounting or auditing. The workers who excel and invest the most in these jobs are most likely to be considered for promotions that lead to the ladder, perhaps to the position of controller. If necessary, with the selection of an independent audit firm.  Representatives of the main staff of the independent audit firm.

Manage a budget of $4,000,000.