This is a two-part series that discuss new trends and concepts the financial controller should begin to execute in order to truly become a valued member of the senior leadership team.

The rapid pace of the evolving technological landscape has promoted changes in how accountants and financial professionals focus attention on strategy and modernize their roles to leverage digital technology. There is increased demand for enhancing flexibility into finance cycles and initiating real-time reporting and insights. These are the core attributes that will assist in transforming the work that controllership function performs.

Is the financial controllership prepared to meet future business demands? The IMA® (Institute of Management Accountants) and Deloitte’s Center for Controllership aimed to better understand the current state of controllership and expectations of future demands for controllers and accounting professionals. They conducted a survey in late 2022 and identified several trends. The survey takes a look at how prepared controllership is to meet future business demands. It also highlights some insights for leaders to consider that may increase their preparedness. It also identified areas of additional insight and questions to answer on the controllership transformation journey.

In this segment one, we go through numerous concepts in detail and the remaining concepts will be covered in segment two.

Learning Objectives
  • Explore and examine the future state of the controllership role.
  • Identify the actions controllers can take to address barriers.
  • Discover and examine how to broaden data.
  • Identify and understand flexibility for unstructured data.
  • Explore and evaluate how to rethink finance analytics.
  • Recognize and examine how to create agile forecasting with scenario planning.
Last updated/reviewed: March 13, 2024

Included In Certifications

This course is included in the following Certification Programs:

22 CoursesThe Controllership Series Certification

  1. The Controllership Series: The Controller Function - Elevating the Role
  2. The Controllership Series: The Controller Function - Strategic and Annual Planning
  3. The Controllership Series: The Controllers Role in Financial Forecasting
  4. The Controllership Series: Future Role of the Controller – Part 1
  5. The Controllership Series: Future Role of the Controller – Part 2
  6. The Controllership Series: The Controller Function - Cash and Investments
  7. ASC 842 Accounting for Leases - Deep Dive
  8. The Controllership Series: The Controller Function - Inventory Part 1
  9. The Controllership Series: The Controller Function - Inventory Part 2 - Inventory Valuation, Physical Inventory Methods and Inventory fraud
  10. The Controllership Series: Overhead, Direct and Indirect Costs and Allocation Methods
  11. The Controllership Series: Financial Statement Preparation and Presentation
  12. The Controllership Series: The Controllers Role in the Procurement Function
  13. The Controllership Series: The Role of The Controller in ESG
  14. The Controllership Series: The Controllers Role in Pro Forma Financials
  15. The Controllership Series: The Controllers Role in Data Analytics and Big Data
  16. The Controllership Series: Introduction to the Financial Close Process
  17. The Controllership Series: Managerial Accounting Basics and Cost Principles
  18. The Controllership Series: Sales, Collections and Customer Credit
  19. The Controllership Series: Addressing Cash Flow and Forecasting Uncertainty
  20. The Controllership Series: The Controller’s Skillset
  21. The Controllership Series: The Controllers Role in Internal Controls
  22. Tools for The Controllership Series Certificate
16 Reviews (74 ratings)

Reviews

5
Member's Profile
I enjoyed this course and the controllership series overall. It provides good ideas on how a controller can elevate their role and provide more value for their organization as well as upward advancement.
5
Member's Profile
Very helpful in understanding the emerging challenges facing controllers today. It would be helpful in the future to see a couple of examples or a case study about how these tools were utilized.
4
Anonymous Author
This course had relevant information to the industry as a whole. I appreciated Lynn's insight - she presented on various topics that would assist any controller in any industry.
5
Member's Profile
Very much enjoyed the inclusion of agile forecasting, drill down on financial analytics and how data and analytics has advanced with the evolution and revolution of technology.
5
Anonymous Author
Ms. Fountain offers a clear and understandable view of the future of the controller function. Her presentation methods are easy and enjoyable to follow.
5
Anonymous Author
Lots of great information packed in here about how to upskill and rise to the new challenges that controllers face in their roles.
4
Anonymous Author
Enjoyed learning about the way controllers look at data is changing with the change in technology and the ways we need to adapt.
5
Anonymous Author
Enjoyed the course and the instructor. Look forward to taking additional courses in the series.
3
Anonymous Author
Would be interested in this course combined with the next as a more efficient spend of time.
4
Anonymous Author
It was just an overview of tools and methods. I would have liked more information on agile.
5
Anonymous Author
Great course I recommend this to everyone that wants to learn more about this topic
5
Anonymous Author
Enjoyed this course. Recommend to any and all in the Controller role or otherwise
4
Anonymous Author
Lynn Fountain's courses never disappoint. Always well-organized and informative.
5
Anonymous Author
Excellent information about the future of the controllership position.
5
Anonymous Author
Great perspectives on how to uplevel our role as a controller.
5
Anonymous Author
Good overview, forward thinking and strategic, well organized
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Prerequisites
Course Complexity: Foundational
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
  Course Overview CPE
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to The Controllership Series: Future Role of the Controller – Part 14:48
  The Future State of Controllership12:30
  Actions6:10
  Broaden Data14:12
  Flexibility for Unstructured Data13:22
  Rethink Financial Analytics10:00
  Create Agile Forecast with Scenario Planning12:36
  Summary1:42
CONTINUOUS PLAY
  Future Role of the Financial Controller part 11:15:20
SUPPORTING MATERIAL
  Slides: The Controllership Series: Future Role of the Controller – Part 1PDF
  The Controllership Series: Future Role of the Controller – Part 1 Glossary/IndexPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam