Product Image

How To Succeed as a Part-Time or Contract Controller

Author/Moderator: Ron Rael, CPA
Publisher: AICPA
Availability: In Stock
See Below To Add To Cart

Description

Succeed as a part-time or contract hired gun! The number of openings for parttime and contract Controllers continues to grow. You may find yourself either being asked to serve as an "acting" Controller for a client or to become a Controller under contract. The course provides you with the skills you need to make intelligent choices and fully understand the Controller’s position as it relates to a less than full-time, or “non-permanent” position. Learn how to employ the skills required of the part-time or contract financial executive. Understand the role the contract Controller plays. Identify both the positive and negative aspects of being a part-time or contract Controller. Become very effective in the "hired gun" role.

Objectives: 

  • Understand the issues surrounding the part-time or contract Controller’s position
  • Create a position description for a part-time or contract Controller
  • Market your skills as a part-time or contract Controller

Prerequisite:  Experience in financial management of a medium or small company

Table of Contents

  • Chapter 0 - Overview
    • Course Objectives
    • Atypical CPE
    • Workshop Roles
    • Assess Your Contract Professional Skill Set
      • Contract Professional Skills Explained
    • The Trend
      • Apply Your Learning
    • Questions
  • Chapter 1 - Controller Responsibilities
    • Learning Objectives
    • Introduction
    • The Controller Position
      • Avoid the Controller's Vacuum
    • The Role of the Controller
      • Major Roles
    • The Controller's Major Responsibilities
    • Finally
    • Questions
  • Chapter 2 - CFO Responsibilities
    • Learning Objectives
    • Introduction
    • Attributes of the CFO
      • Teaching and Training
      • Counseling
      • Guiding
      • Learning
      • Sharing
      • Questioning
      • Relating
      • Listening
      • Intuitiveness
      • Creativity
    • CFO Tool: Calculating the Economic Value Added
      • Economic Value Added Defined
      • Comparison of Economic Value Added to the Balanced Scorecard
    • Finally
    • Questions
  • Chapter 3 - What Is the Contract Controller's Job About?
    • Learning Objectives
    • Introduction
    • Main Difference in Expectation of the Roles
    • The Controller Job Description
      • The Point of this Exercise
    • Actual Job Description #1
    • Actual Job Description #2
    • Actual Job Description #3
    • The Need for a Contract Controller or CFO
      • Most Common Reasons a Company Employs a Contract Financial Executive
    • The Role of the Contract Controller
      • Positional Power
    • Finally
    • Questions
  • Chapter 4 - Attitudes for Success
    • Learning Objectives
    • Introduction
    • What Mindset Does the Contract Controller Need?
      • The Pluses and Minuses of the Contract Controller Position
    • Contractor's Mindset
    • The Attitude of Teflon-Coated Toughness
      • Reasons for This Attitude
      • How to Develop a Tough, Non-Stick Attitude
    • The Attitude of the Fortune Teller
      • Hindsight
      • Foresight
      • Insight
    • Finally
    • Questions
  • Chapter 5 - How Can I Ensure I Will Be Successful?
    • Learning Objectives
    • Introduction
    • Tools for Creating Success as the Part-Time or Contract Hired Gun
    • Tool 1: Develop Your Own Position Description
      • Elements of the Position Description
      • Expected Results
      • Impact on the Organization
      • Authority Levels
      • Special Difficulties
      • Interpersonal Relationships
      • Benefits of Using a Position Description
    • Position Description Example for a General Accounting Assistant
      • Qualifications
      • Expected Results
      • Principal Duties
      • Special Difficulties of the Position Description
      • Interpersonal Relationships
      • Evaluation and Feedback
    • Position Description Example for a Part-Time Controller
      • Qualifications
      • Expected Results
      • Impact of Job on the Organization
      • Authority of Person to Act for the Company
      • Special Difficulties of the Position
      • Principle Duties
      • Interpersonal Relations
      • How a Position Description Benefits the Contract Controller
    • Tool 2: Determine What Is Most Important
      • Measure the Important Things
      • Ways to Determine What Is Most Important
      • How to Get to the "Real" Cause of an Issue or Problem
    • Tool 3: Focus on Their Metrics of Performance
      • Performance Metrics
      • Metrics—Objective vs. Subjective
    • Tool 4: Define Their Critical Success Factor
      • Strategy
      • Organizational Alignment
      • Critical Success Factor
      • Performance Measuring Principle
      • Drivers of an "Information Business"
    • Tool 5: Keep Your Eyes on the Forest
      • Why You Must Stay Out of the Day-to-Day Minutiae
    • Finally
    • Questions
  • Chapter 6 - Hired Gun Skills—Part 1
    • Learning Objectives
    • Introduction
    • Special Skills the Hired Gun Needs
    • Skill #1: Focus
      • Productivity
      • Efficiency
      • Ways to Stay Focused and Be Productive
    • Skill #2: Leadership
      • Traits of the Effective Finance Leader
    • Skill #3: Systems Building
      • Systems Approach to Accounting
      • The Smart Controller's Systems
      • Controller's People Systems
      • How Controllers Use Feedback
      • 10½ Rules for Performance Improving Feedback
      • Controller's Planning System
      • Controller's Communication System
      • How to Design a Communication Web
    • Skill #4: Priority Management
      • Priority Management Principles 1 and 2 (aka the 66 2/3 Rules)
      • The Facts of Life about Time
      • Controller Workload Killers
      • 7½ Myths about Time Management
      • Execute Consistently to Achieve Your Priorities
      • Impacts on Goal Execution
    • Finally
    • Questions
  • Chapter 7 - Hired Gun Skills—Part 2
    • Learning Objectives
    • Introduction
    • More Special Skills the Hired Gun Needs
    • Skill #5: Future Visioning
      • Tool—Gap Analysis
      • Finally
    • Skill #6: Selling Your Ideas
      • The Mindset of the Risk-Taking Entrepreneur
      • Process for Selling Your Ideas
      • Finally
    • Skill #7: Managing Client Expectations
      • Examples
      • You the Magician
      • Tactics to Manage Expectations
    • Skill #8: Marketing Professional Services
      • Marketing Yourself as a Part-Time or Contract Controller
      • Marketing Mindset
      • Marketing Relationships—Partnering with Your Client
      • Marketing Efforts that Pay Dividends
      • Market Successfully by Giving It Away
      • Technology in Marketing
      • Market by Taking Advantage of Networking Opportunities
      • Market through Visibility
      • Additional Services You Could Provide
      • Facilitator
      • Finally
    • Questions
  • Chapter 8 - Resources and Concerns
    • Learning Objectives
    • Introduction
    • What Other Things Do I Need to Know?
      • Do I Have Independence Issues to be Concerned About?
      • Can I Issue Financial Statements as Their Controller/CFO? Do I Need to Attach an Attestation Report? Do I Need to Notify Lenders?
      • In Essence
    • Other Issues to Consider
      • Should I Specialize?
      • Should I Sign Checks?
      • Can I Sign the Payroll Tax Returns?
      • How Should I Determine How Much to Charge for My Services?
      • Could I Take Stock in Lieu of Pay or Compensation to Help a Client Who Lacks Sufficient Cash?
      • Do I Need Risk, Errors and Omission, or Other Insurance Coverage?
      • Is There Any Insurance Protection That I Should Have?
      • What About Understanding and Using Technology?
      • Can I Take the Home Office Deduction?
      • Do I Need My Own Contract?
      • How Does the Issue of Ethics Impact Me or My Role?
      • What Are My Risks?
      • Do I Need to Worry about Independent Contractor Status?
      • As a Consultant, Are There Any Problem Areas to Avoid?
      • Is It Wise to Supervise Employees When I am Only a Contractor?
      • How to Use Performance Metrics in Employee Performance
    • Advice from Experienced Hired Guns
      • Paul Colao Is a Contract CFO
      • Erin Corsair Is a Professional Temporary
      • Curt Halin Is a Contract Controller
      • Patrice Smith, a Former Tax Professional Who Now Provides Contract CFO Services
      • Bob Anderson Chooses to Niche in Retail
      • Scott Allred is Located in Montana and Relies Heavily on the Internet to Provide Services
      • Gene Siciliano Is CFO for Rent®
      • Dennis Purvine Located His Office Close to a Beautiful Waterfront
      • Audrey Godwin, the Chief Business Integrator
      • Sandra Copas Owns a Firm on the Leading Edge
      • William Looney Left the Corporate Big Company Environment after 20+ Years
    • Controller's Resources List
    • Questions
  • Chapter 9 - Take the Next Step
    • Learning Objectives
    • Opportunities Abound
    • Five Accounting Leader Realities
    • Significant Trends in Accounting Impacting the Controller
    • Tool: Instilling a Personal Commitment
    • Tool: Instill Continuous Improvement
      • Steps of the Plus/Delta
    • Summary
      • The Challenges of Being a Part-Time or Contract Controller are Many
      • But There are the Upsides of Opportunities Too
      • You Can Increase the Odds of Your Success If You
    • Questions
  • Chapter 10 - Ethics Focus: Business and Industry
    • Ethics Overview
    • Recent Developments
    • Key Ethical Dilemmas
    • Addressing Ethical Dilemmas
    • Available Resources
  • Chapter 11 - Latest Developments
  • Appendix A - Best Practice: Learning Curve Performance Evaluation
  • Best Practice: Probing Questions

733581

Excerpts

Overview

You must be willing to get out of your box!!

You have the opportunity to provide top quality services at affordable prices without the human resource issues involved with having employees.

Course Objectives

There is a fast growing trend in business—requesting the services of a Financial Executive who is not a permanent part of the organization. For a variety of reasons, some companies are opting to

  • Employ a person who works less than full-time.
  • Staff a major project with temporary employees.
  • Contract with an employee from their CPA advisory firm.
  • Contract with a highly experienced Controller or CFO for an indefinite but short-term period of time.

This trend raises many questions, problems, and opportunities.

This workshop is designed to provide answers and guidance to many of the questions raised with this novel situation. Despite the unique need for Controllers, there is not much practical information on the subject.

After completing this course you should be able to

  • Apply the special skills required of the part-time and contract Controller.
  • Understand the role the contract Controller plays.
  • Weigh the positives and negatives of being a part-time and contract Controller.
  • Know how to be a very effective contract Controller.
  • Discuss issues related to the elusive contract executive position.
  • Develop a Position Description for a contract financial executive.
  • Generate ideas on how to market yourself as a part-time or contract Controller.
  • Design a tailored action plan for your specific needs.
  • List your own ideas and contributions.
  • Put this information to good use in your own career.

This workshop is designed for CFOs, Controllers, and anyone who chooses to work in a part- time or contract capacity. The specific duties are not as important as the attitudes and skill set. I will assume that you already know how to do accounting, so we will not cover number crunching. We will cover topics such as how you market yourself and how to deal with the egocentric CEO.

Atypical CPE

This course will be very different from the type of CPE you are used to taking. The primary focus of this workshop will be in three areas:

  1. Hearing what works from others who are doing what you do and sharing your stories.
  2. Focusing on the specific attitudes, skills, traits, and tools that will help you succeed.
  3. Serving as a coach and mentor to someone in need. [We CPAs love to consult!]

This format will definitely be challenging to you and your peers. However, by the end of this workshop, you will have significantly enhanced your skills as a contract professional. By the end, some of you may decide that this job is not for you because of what is involved in this unique role. This is beneficial because it is better that you proceed with your eyes wide open, rather than go into this role blindly.

Workshop Roles

Discussion Leader—To disseminate and explain the tools, ideas, and Best Practices.

Participants (you)—To contribute ideas, learn, explore, and apply the information.

Thank you for being present today!

**Note. The companies and characters listed within this document are fictional.

Chapter 1 - Controller Responsibilities

The Controller has the most complex job in the organization!

Learning Objectives

After completing this chapter you should be able to

  • Understand the role the Controller plays in an organization.
  • Avoid getting sucked into the Controller's Vacuum.
  • Help another professional decide if the role is one they really want to get involved with.

The Controller Position

An experienced Controller described his job as:

"Do everything!"

A seasoned Controller commented that her entire job description reads:

"All duties as assigned."

The best way for a non-Controller to understand what a Controller does is to hear how many Controllers describe their job:

"A Controller has full responsibility for everything not specifically assigned to other executives."

We begin understanding the contract Controller position by conducting a brief review of the Controller position. This is for two reasons. First, some of the people who are interested in this position come from public accounting and most have never served as Controller. This brief review gives them a better understanding of what responsibilities the Controller takes on so they can successfully scope out the client's project.

The second reason for this review is for the industry folks who have never been a Controller but are considering becoming a contractor. They want and need to know which responsibilities to accept and which to avoid.

The biggest understanding you will get from this review is being able to avoid getting sucked into the Controllers Vacuum.

Activity: Help Me Rhonda Part 1

Your good friend, Rhonda, is asked to be the contract Controller in a critical position where the retiring incumbent averaged 55 hours per week. You know that she does not want to work that many hours.

Discussion question

As her friend and mentor, what would you want to discuss with Rhonda? Prepare an agenda of items to discuss and questions to ask her.

733580

Videocourse Details

NASBA Field of Study: Finance
Level: Intermediate
Recommended CPE Credit: 10
Text
Product# 733581
Availability:In Stock
Regular:$168.75
AICPA Member:$135.00
Your Price:$168.75
To receive your AICPA member discount, Sign In now, or Register using your AICPA membership number.
Choose the Standing Order Option and get these discounts on your initial purchase:

Publications--10% discount
CPE Self-Study--20% discount

Each new future annual edition will then be automatically shipped to you at a 10% discount.