GAAP stands for Generally Accepted Accounting Principles. These are a set of accounting principles for financial reporting. The purpose of this set of rules and standards is; to ensure that financial reporting is clear and consistent from one organization to various agencies/companies.
As a financial controller, I ensure that the company's books and reports are in compliance of US General Accepted Accounting Principles to ensure that all of our quarterly and end of the year fiscal reports are consistent and true. This also helps drives external and internal stakeholders' trust with us. With quarterly reports that are consistent with US GAAP, we can ensure that our company moves in the proper direction that keeps our company's financial health in check and also for our customers as well.
A controller of finance oversees the functions of accounting in the company and ensures records are kept properly. They contribute to the financial strategies of the company and in developing internal control policies. They also perform risk management activities and develop plans to minimize risk
They ensure that all accounting information are accurate and proper at all times at each end of each quarters of the comapny's fiscal year.
I serve as a finance controller to provide risk mitigations from financial fraud both, internally and externally. I provide quarterly reports during each quarters (4x within a fiscal year) and also I ensure that our company are in compliant of all GAAP and accounting laws.