Business control in a profession of finance and accountance that will fascinate those who wish to have a concrete vision of the company's activities and the effect of the actions implemented. The cost figures provided by the management controller enable the company to be managed in the mid term and also to anticipate the future.
The missions of business/financial controlling
Business control enables the planning of costs related to the company's production activities. Its objective is to anticipate the economic situation thanks to forecasts for different terms, starting with the annual budget forecast. This complex, 360° mission gives the management controller a central role in the company. It also includes many facets ranging from the development of numerical documents, to the creation of measurement tools, through numerous interviews with operational managers.
Main missions:
- Realization and follow-up of dashboards
- Analysis of the differences between the actual and the forecast
- Monitoring of the results
The qualities of the business controller
In addition to the technical skills and knowledge that make the management controller a specialist in company performance, such as in-depth knowledge of financial mathematics, the articulation of company activities and forecasting calculations, he or she must also possess specific qualities and soft skills. It is the combination of all these elements that will make him a high-flying specialist in business management.
We can quote for example:
- The spirit of performance: with the main mission of optimizing the cost/benefit ratio, the person in charge of management control (or planning) must above all aim for the best means/results ratio.
- Demanding and rigorous: this function requires precise calculations based on real data.
- A sense of enterprise and organization: in order to relate the various elements linked together in a direct or indirect manner, and to take into consideration the multiple implications and interdependencies.
- The sense of contact is one of the qualities that a management controller must have. He/she takes part with the various managers in defining the objectives of their entities (services, department) and organizes the management dialogue.
Job market and professional opportunities in financial control and business control
Management control takes different forms depending on the companies and activities to which it applies. Thus, with a specialized training in the field, students will be brought to the job market by different professions, among them we can mention:
- Consultant
- Chief Financial Officer (CFO)
- Management controller
- Industrial management controller, project management controller, etc.
- Financial auditor
- Financial controller
- Risk Manager
- Consolidator
- Financial consultant
- Accounting Director
The importance of the elements produced by management control for the life and evolution of the company makes these professions essential. Their obvious link with performance management means that graduates of this specialization are highly sought after by all types and sizes of companies, from the most traditional to the most high-tech.
Average salary range in France: 48 000€ bruts annuels.
Average salary in UK: £47.500 gross per year in the London Area.
Salary US: median salary of $57,438 gross per year.
A Master degree in management control and auditing: Master's degree in business school
In France, the various existing courses in management control are divided between universities (through the IAE) and business schools, which specialize in training for business and management. The latter offer their students an opportunity to seize by the possibility of carrying out their specialization in alternation. They benefit from a total professional immersion, while building a CV rich in experience without waiting. At Paris Business School, students benefit from specific programs thanks to the partnerships set up by the school with the La Poste group and the CNAM.
Discover the advantages of the Paris School of Business' Master's in Finance.