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In most business organizations, the controller is the chief management accountant. The controller’s staff often consists of several management accountants. Each accountant is responsible for a specialized accounting function, such as systems and procedures, general accounting, budgets and budget analysis, special reports and analysis, taxes, and cost accounting. Experience in managerial accounting is often an excellent training ground for senior management positions. One poll indicated that over 21% of the chief executive officers (CEOs) of the largest 1,000 companies in the United States have career paths that began with accounting or finance. More CEOs started out in these areas than in any other functional business area. This is not surprising, as accounting and finance bring an individual into contact with all phases of operations. The responsibilities of a controller include financial accounting, cost accounting, public reporting, government reporting, accounting information systems, and internal control.
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