The modern corporation relies heavily on a position that controls multiple financial facets of the business. The Controller is defined by Management Accounting, a User Perspective as the "Chief Accountant" and is the most important financial individual within any given organization. The Controller in most organizations is responsible for all transactions that impact the general ledger, maintaining a positive cash flow within the organization, preparation of financial statements, internal financial reporting, and safeguarding of the assets of the organization. The Controller, in large institutions, generally reports to the Chief Financial Officer and maintains a staff of direct reports to ensure efficient operations. Generally, the Controller will have a staff that consists of a Financial Reporting Manager, an Accounting Manager, an Accounts Payable Manager, and a Credit Manager. These individuals each maintain areas of the Controller's responsibility. The tie that binds all these positions is their relationship to the general ledger, the accounting process, and the fact that the Controller is the Chief Accountant.
             The Chief Accountant's control of the general ledger is arguably his or her most important. Within the scope of general ledger control falls the task of recording all accounting transactions. The Controller must ensure that an adequate accounting information system is in place so the company can effectively process these transactions. These transactions can range from the processing of vendor invoices for goods purchased, to the processing of cash receipts for customer payments. Once the transactions are processed the Controller's group must be able to effectively reconcile the general ledger during the closing period of the accounting cycle. Reconciliation allows the Controller to "true" up all general ledger accounts, and provided the proper debits and credits were en
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