Qualitative data utilization in the modern roles of business controllers
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Journal Title
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Volume Title
School of Business |
Master's thesis
Authors
Date
2024
Department
Major/Subject
Mcode
Degree programme
Accounting
Language
en
Pages
100 + 2
Series
Abstract
This thesis examines the evolving role of controllers, particularly how they utilize qualitative data in their work. Conducted as a qualitative field study, it involves interviewing five business controllers to gain in-depth insights into their methods of gathering, utilizing, and integrating qualitative data with quantitative data. Findings reveal that business controllers source qualitative data through both verbal and written communication with co-workers and other stakeholders. This data is essential for providing context, validating quantitative data, enhancing forecasting accuracy, and informing strategic planning. It helps controllers interpret numerical data, offering deeper insights into financial reports and supporting comprehensive decision-making. The study also highlights several challenges in managing qualitative data, such as documentation, organization, prioritization, which can lead to information overload. The evolving roles of controllers from isolated financial reporters to dynamic business partners significantly impact their approach to data management. This transformation requires not only advance soft skills, such as effective communication, problem-solving, and leadership, but also a more comprehensive and integrated approach to information management. Modern controllers need to balance traditional tasks with new responsibilities, ensuring data accuracy and quality while incorporating qualitative insights to provide deeper context. A balanced approach to information management, integrating both qualitative and quantitative data, is essential for modern controllers to provide accurate, relevant, and timely financial information, supporting their roles as dynamic business-partners. The study emphasizes the importance of qualitative data in offering context and depth to quantitative reports, enhancing decision-making processes. Managerial implications suggest organizations should value qualitative data, address information overload, and foster interdepartmental collaboration. Implementing systems and tools to facilitate the integration of qualitative data alongside quantitative data encourages a more balanced approach to data management. By addressing these challenges and leveraging qualitative insights, modern controllers can enhance their decision-making processes, ensuring more accurate, relevant, and timely financial information, thereby supporting their role as strategic business partners.Description
Thesis advisor
Sinha, VikashKeywords
controller, management accounting, information management, qualitative data