WHAT IS BUSINESS CONTROLLING

business controlling provides the financial information to run a business. using financial numbers to help guide a business to achieve its objectives, business controlling is an umbrella encompassing accounting, budgeting, costing, investment analysis, management information, cash flow, and more

financial management and business controlling cover the same topics and can almost be equivalents, where financial management means more the actions and doing - whereas in business controlling the focus is on providing the necessary guiding information. a true to type business controller will be very active and communicative within the organization - but will stop short of taking actions and making business decisions

in this view business managers are performing financial management - even if they are not financial managers themselves. this makes sense because it is kind of weird to say for example "I am responsible for sales, or research and development, or other - but not for the financial results of my activity - that is the responsibility of the financial manager"

non-financial business managers may lack the knowledge and the tools to take financial responsibility. the business controlling activity fills that void

it is common to see a management team consisting of people responsible for the different activities in a business and one of them being a financial manager. in such a setting it is the job of the financial manager to educate and guide the other managers as to the financial consequences of their actions. the team can then be responsible for financial management of the business

business controlling is providing information, tools, education so that the organization as a whole can steer towards the financial objectives of the business

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