Table 1Transition record

cost analysttofinancial controller

A cost analyst already meets 50% of what the financial controller role asks for. The move turns on 7 required skills not yet in the profile.

From cost analyst

50%

Overlap1

To financial controller

16 Skills carried over

7 Required, not held

50.3 Difficulty2

adjacent 0–30

moderate 30–55

substantial 55–75

career change 75–100

this move, 50.3

This move: 50.3 of 100 · moderate

1 Share of the financial controller role’s weighted skill requirement already met by the cost analyst profile. Required skills count in full, supplementary skills at 0.35. Directional: the figure for the reverse move differs. 2 Combines what is missing with how specialised it is, so a gap of general skills scores easier than the same number of narrow ones.

Table 2

Table 2 · What you already bring

Of the 16 skills that carry over, these are the ones fewest other occupations ask for. A financial controller role needs them, and most people applying for one will not have them already. This is the part of a cost analyst background worth leading with.

Skill the target role also needs Area

already held exert expenditure control management skills
already held explain accounting records management skills
already held support development of annual budget management skills
already held advise on tax planning communication, collaboration and creativity
already held evaluate budgets management skills
already held disseminate information on tax legislation communication, collaboration and creativity

All 16 carried skills, including the 10 the financial controller role treats as required.

Table 3

Table 3 · What you would need to learn

The 21 missing skills fall into 6 areas of the ESCO skill hierarchy, numbered below in the order worth working in: the areas carrying the most required skills come first, and inside each one the required skills sit above the supplementary ones.

Skill to acquire Tier

01 information skills 3 required, 5 supplementary

required, not held develop financial statistics reports required
required, not held ensure compliance with accounting conventions required
required, not held track key performance indicators required

optional, not held check accounting records optional
optional, not held inspect government expenditures optional
optional, not held manage the general ledger optional
optional, not held prepare financial auditing reports optional
optional, not held prepare tax returns forms optional

02 business, administration and law 3 required, 1 supplementary

required, not held accounting department processes required
required, not held financial statements required
required, not held tax legislation required

optional, not held insolvency law optional

03 assisting and caring 1 required

required, not held follow the statutory obligations required

04 communication, collaboration and creativity 5 supplementary

optional, not held advise on financial matters optional
optional, not held draft accounting procedures optional
optional, not held liaise with auditors optional
optional, not held liaise with financiers optional
optional, not held liaise with shareholders optional

05 management skills 2 supplementary

optional, not held manage profitability optional
optional, not held supervise accounting operations optional

06 natural sciences, mathematics and statistics 1 supplementary

optional, not held statistics optional

Table 4

Table 4 · Where to start

The 3 entries a financial controller role is least likely to hire without. The ordering is computed from the skill data, not from what pays.

Each entry opens a course search for that skill. Career Overlap earns nothing from these links.

Appendix

Appendix · The rest of the record

All 16 skills that carry over

Skill Type

already held analyse financial performance of a company skill
already held create a financial plan skill
already held enforce financial policies skill
already held evaluate budgets skill
already held exert expenditure control skill
already held explain accounting records skill
already held financial department processes knowledge
already held interpret financial statements skill
already held prepare financial statements skill
already held synthesise financial information skill
already held advise on tax planning skill
already held analyse financial risk skill
already held disseminate information on tax legislation skill
already held financial forecasting knowledge
already held manage budgets skill
already held support development of annual budget skill

14 supplementary skills, helpful but not required

Skill to acquire Tier

optional, not held advise on financial matters optional
optional, not held check accounting records optional
optional, not held draft accounting procedures optional
optional, not held insolvency law optional
optional, not held inspect government expenditures optional
optional, not held liaise with auditors optional
optional, not held liaise with financiers optional
optional, not held liaise with shareholders optional
optional, not held manage profitability optional
optional, not held manage the general ledger optional
optional, not held prepare financial auditing reports optional
optional, not held prepare tax returns forms optional
optional, not held statistics optional
optional, not held supervise accounting operations optional

17 held skills the financial controller role does not ask for

Skill Type

not needed by the target role analyse transportation costs skill
not needed by the target role assess financial viability skill
not needed by the target role calculate production costs skill
not needed by the target role carry out tendering skill
not needed by the target role company policies knowledge
not needed by the target role control of expenses skill
not needed by the target role cost management knowledge
not needed by the target role create a financial report skill
not needed by the target role execute analytical mathematical calculations skill
not needed by the target role identify process improvements skill
not needed by the target role liquidity management knowledge
not needed by the target role manage inventory skill
not needed by the target role manage payroll reports skill
not needed by the target role negotiate supplier arrangements skill
not needed by the target role perform cost accounting activities skill
not needed by the target role prepare cost-plus pricing models skill
not needed by the target role provide cost benefit analysis reports skill

5 gaps that are knowledge rather than practice

Knowledge gaps usually close through study. Practical skill gaps usually need something you can point at.

Skill to acquire Tier

required, not held accounting department processes required
required, not held financial statements required
required, not held tax legislation required
optional, not held insolvency law optional
optional, not held statistics optional

Index

Other moves recorded from cost analyst

Full index of moves from cost analyst

Note

How this record was compiled

Both occupations are taken from ESCO, which lists the skills and knowledge each occupation is expected to have and marks every one required or optional. Nothing here is a prediction about hiring, and nothing here knows that a particular employer wants a particular certificate. Treat Table 3 as a starting point for your own research rather than a syllabus. The full method states what these figures can and cannot tell you.