Finance professionals in organizations of all sizes and industries now occupy top leadership roles both inside and outside the finance department. Thanks to their financial acumen, risk-management skills, compliance knowledge, and governance experience, controllers are taking on roles that fall far beyond their traditional finance job descriptions. To meet these challenges, controllers are asking:

1. How can I gain greater transparency into financial performance? What are the best tools to improve strategic planning, budgeting, periodic forecasting, risk management (assessing risks tied to strategy, forecasting, etc.), profitability analysis (product, customer, channel, etc.) and business intelligence?
2. What is the best strategy for attracting and retaining top finance staff? Controllers are looking for employees with technical knowledge, analytical expertise, and strong people skills.
3. How can I best align strategy, risk management, and performance management? Rather than applying patchwork fixes to individual processes, controllers want to manage and improve related processes to improve overall corporate performance management.
4. What is the best way to stay on top of emerging issues? Controllers need to be on top of healthcare regulations, revenue recognition, globalization, and workforce mobility.

To help controllers answer these—and other—questions, IMA presents The Master Guide to Controllers’ Best Practices, Second Edition. Each chapter includes research, best practices, case studies, and tips from controller professionals and finance professionals—including best practices implemented in companies of various sizes and industries.

The guide is organized into the following sections:

1. Overseeing Governance, Compliance, Risk Management, and Internal Controls
2. Business Process Best Practices
3. Planning, Budgeting, Forecasting, and Financial Close Best Practices
4. Measuring Performance
5. Process Improvement Through Automation & Technology
6. Leadership and the Evolving Role of the Controller

Welcome to The Master Guide to Controllers’ Best Practices, Second Edition. IMA wishes you continued success on your professional journey!