Functions of Management

1.

PLANNING it involves setting of both

immediate and long range goals for the
organization; predicting future conditions
that are expected to prevail; considering the
different means or strategies by which the
goals set may be achieved; and deciding, (in
light of the forecast future conditions) which
of the strategies should be used to attain
such goals.

Functions of Management
2.

CONTROLLING In performing this

function, the manager sees to it that
operations are carried out in the best
possible way, i.e., everything is done in
accordance with the plans made, to ensure
the attainment of business objectives. It i
involves checking the performance of
activities against the plan and standards set;
should there be any deviations between
actual and planned performance, deciding
what corrective actions, if any, should be
taken.

Internal Controls

CONTROLLER
The chief management accounting executive
Mainly responsible for the accounting
aspects of management planning and
control
Performs two basic, interrelated roles:

1.
2.

Accumulation and reporting of accounting

information to all levels of management
Directing managements attention to problems
and assisting them in solving such problems

CONTROLLERSHIP
Defined

as a function of business
management which combines the
responsibility for accounting, reporting,
measurement, auditing, taxes, operating
controls and other related areas

FUNCTIONS OF THE CONTROLLER

1.

Planning for control to establish, coordinate

and administer, as an integral part of
management, an adequate plan for the
control of operations.

2.

Reporting and interpreting to compare

performance with operating plans and
standards and to report and interpret the
results of operations to all levels of
management and to owner of the business

FUNCTIONS OF THE CONTROLLER

3.

Evaluating and consulting to consult with

all segments of management responsible for
policy or action concerning any phase of the
operation of the business as it relates to the
attainment of objectives and the
effectiveness of policies and organizational
structures and procedures

4.

Tax administration to establish and

administer tax policies and procedures

FUNCTIONS OF THE CONTROLLER

5.

Government reporting to supervise or coordinate

the preparation of reports to government agencies

6.

Protection of assets to assure protection for the

assets of business through internal control,
internal auditing and assuring proper insurance
coverage

7.

Economic appraisal to continuously appraise

economic and social forces and government
influences and to interpret their effect upon the
business

Controllers Place in the Organization

Treasurership

Treasurership deals with money, cash or

wealth of an organization. A treasurer knows
the sources of money and exercises prudence
in using the money of the organization. There
are basically three (3) sources of cash
financing, operating and investing. Financial
money comes from non-current owners and
creditors. Operating money comes from
customers. Investing money comes from noncurrent assets.

Distinctions between Controller and

Treasurer
CONTROLLERSHIP

TREASURERSHIP

1. Planning and control

1. Provision of capital

2. Reporting and interpreting

2. Investor relations

3. Evaluating and consulting

3. Short-term financing

4. Tax administration

4. Banking and custody

5. Government reporting

5. Credit and collections

6. Protection of assets

6. Investments

7. Economic appraisal

7. insurance