Five Reasons a Casino or Hotel Should Consider an Outsourced Controller

There are quite a few casinos or hotels out there that wish they had a full time controller, but for whatever reason still have not found the right candidate. If you can relate to that, below we are going to provide five very good reasons why your firm should strongly consider hiring a part time controller.

Reason # 1 – They Have Skills and Knowledge that your Firm Does Not Presently Possess – Most people that are employed in a controllers position have a Master’s Degree in Accounting and are CPA’s. In addition, they more than likely have worked in an accounting department for a very long time and because of that, they have abilities and talents that can only be learned via real life experiences.

Reason # 2– Installing and Setting Up a State of the Art Accounting Information System – Customizing an extremely sophisticated piece of software like an accounting information system is a particularly complex process. Very few people possess both the accounting expertise and computer skills needed to get the job done correctly.

Some of the tasks that must be done properly are the following; entering the company’s general and tax information, developing a chart of accounts that specifically meets that firm’s needs, entering the personnel and payroll records, creating asset and depreciation schedules with adjusting entries, producing the reports the management team has requested, as well as a building a host of other especially complicated functions into the system.

Reason # 3 – CPA’s are Not an Expense, But an Asset – Individuals that are CPA’s and have held high level accounting or finance positions in the past, possess capabilities that the vast majority of the general population does not have. Because of that, they are able to analysis and evaluate business proposals, financing arrangements, and a company’s operational structure in a way that adds far more intrinsic value to that organization than it cost to keep them employed.

Reason # 4 – Can Reduce or Eliminate Outside Accounting, Tax, and Payroll Expenses – Most small or medium sized businesses use a CPA firm to produce their financial statements and tax returns. In addition, some of them employ a payroll service to cut their staffs checks and file both the state and federal payroll documents. All CPA’s are more than capable of providing the exact same services.

Reason # 5 – Part Time Controllers Usually Possess a Great Deal of Business Savvy – There are very few companies that could not benefit if they had a financial and business specialist on their staff. The people that are normally employed in this position were once senior managers and more than like will offer a wide array of very helpful recommendations based on their past experience that might have not been considered previously.

When it comes to hiring a part time controller, there really are not too many ways that the employer would not benefit when compared to the alternatives. If your company is still growing and cannot afford to employ a full time person to fill this position, why not starting thinking about bringing in somebody on a temporary basis until your sales increase and you are able to hire a permanent employee.

Categorised in: Blog

This post was written by Gary Stahl