Chief financial officers’ perceptions of their roles inside nonprofit organizations

Daff, Lyn

doi:10.1111/faam.12233

Cited by 7 publications

(9 citation statements)

References 73 publications

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“…However, when accountants at the consignees assume a visionary posture, the mandatory nature of the digital transformation is used to favor a broader transformative agenda. Despite previous studies not addressing individuals confronted with the forced adoption of various work-related innovations, the visionary posture resembles Daff's (2021) argument that financial officers embracing an innovative role could lead to improvements in both financial reporting and operations due to their adoption of a more forward-looking approach. This behavior is similar to visionary leaders who can get other people to commit to long-term goals, organizational strength, and new tools and opportunities (Fenton et al, 2019).…”

Section: Summary and Discussionmentioning

confidence: 93%

Accountants’ postures under compulsory digital transformation imposed by government oversight authorities

Lino

Aquino

Neves³

2021

Financ Acc Manag

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Governments are becoming digital; however, a shift toward digital transformation may not always occur voluntarily. For example, despite their willingness or skills, local government accountants are usually forced to adopt a digital innovation to comply with requirements from top-down public financial management reforms-a typical case of compulsory digital transformation. We observe local government accountants' attitudes toward compulsory digital transformation and their effects on the comprehensiveness of the digital transformation linked to accounting reforms in place. We empirically analyzed the public financial management oversight function in Brazil, in which digitalization requires local government accountants to report financial information to external authorities via computerized tools. Relying on interviews and an open-ended survey with local government accountants, our findings revealed how Brazilian government accountants deal with compulsory digital transformation in the context of task overload. Most of the accountants present a resigned posture in which they opt to comply with the oversight authorities' deadlines at the expense of reductions in the reported data's accuracy. However, other accountants assume a visionary posture by adopting a transformative attitude and turning the mandatory digital transformation to their advantage to favor a 202

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Section: Summary and Discussionmentioning

confidence: 93%

Accountants’ postures under compulsory digital transformation imposed by government oversight authorities

Lino

Aquino

Neves³

2021

Financ Acc Manag

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“…Hence, the technical type requires the CFO to possess learning ability. Additionally, CFOs in this path have specialized knowledge and abilities in strategic management, resource allocation, financial management to fulfill their role as finance experts, generalists, performance leaders, and growth champions [ 45 – 47 ].…”

Section: Discussionmentioning

confidence: 99%

Exploring effective implementation pathways to become an excellent chief financial officer in public hospital: a qualitative comparative analysis (QCA) from China

Wang,

Li,

Xiang

2024

BMC Health Serv Res

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Background Hospital chief financial officer (CFO) contributes to improving health system performance. However, how to become an excellent hospital CFO has rarely been considered from a holistic perspective. This paper aims to identify competencies required by hospital CFO to fulfil the position’s responsibilities and explore effective implementation pathways to generate high performance and improve healthcare service. Methods We conducted 61 semi-structured interviews with individuals in key leadership positions in China’s hospitals and researchers focusing on healthcare system management to identify core competencies necessary for hospital CFO. Interviews were analysed through a multi-stage review process and modified via expert vetting using a national panel of 23 professors. Subsequently, interviews were conducted with 32 hospital CFOs from 14 provinces throughout September 2021 to May 2022. We scored the performance of 32 hospital CFOs in various aspects of competency and used the fuzzy-set qualitative comparative analysis to explore the competency configurations of excellent CFOs. Results We identify seven core competencies necessary for a hospital CFO to fulfil management practices, including personal morality, resource management, strategy management, learning ability, negotiating skill, leadership skill, and financial management. The findings indicate that a single competency factor is not a necessary condition to become an excellent hospital CFO. The results of qualitative comparative analysis then make it possible to propose four configurational paths, namely, supportive, interpersonal, all-around development, and technical, to become an excellent hospital CFO and achieve effective managerial performance. Conclusions The responsibilities of hospital CFOs are complex and varied, hence, a better understanding of competencies required by CFO is essential to implement their responsibilities effectively. The identification in this study of the four effective implementation pathways to becoming an excellent hospital CFO enriches the literature on hospital management and provides implications for China’s hospitals and their CFOs.

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“…Like CFOs in the NHS who must be qualified accountants who are members of either the Chartered Institute of Management Accountants (CIMA) or a member of one of the five accountancy institute members of the Consultative Committee of Accountancy Bodies, hospital CFOs in China need to hold the professional qualification of senior accountant or certified public accountant. The responsibilities of hospital CFOs are complex and varied, such as protector, supporter, innovator and strategist [ 24 ], thus requiring various competencies to fulfil position responsibilities.…”

Section: Discussionmentioning

confidence: 99%

Exploring a competency framework for the chief financial officer of a hospital: a qualitative study from China

Wang

Xiang

Dong

2023

BMC Health Serv Res

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Background Hospital chief financial officer (CFO) plays a vital role in supporting the effective management of organization. Understanding their competencies is essential to improve hospital development and health care services in China. This paper aims to explore competencies necessary for hospital CFOs to fulfil their management responsibilities and develop a competency framework for hospital CFOs in China. Methods A qualitative study was applied by conducting in-depth interviews with 151 participants from 15 Chinese provinces, comprising 89 individuals from 67 hospitals, and 62 individuals from 39 medical universities. Interviews were anonymised, recorded and transcribed. Qualitative thematic analysis was applied through a multi-stage review process and modified via the Delphi process using a national panel of 36 experts. Results Using content analysis, we identified 17 competencies organized into three themes (personal attitudes, leadership competencies and managerial competencies) to conduct a competency framework for hospital CFO to fulfil their management practices. Those competencies emphasized the integration of different competencies required by the hospital CFO. Conclusions This paper identified the detailed expertise, abilities and personal traits required by hospital CFOs in China, expanding the insights and perspectives of hospital CFOs currently working in China to literature. The proposed framework will help hospitals establish selection criteria, coaching tools, and development plans for CFOs.

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Chief financial officers’ perceptions of their roles inside nonprofit organizations

Cited by 7 publications

References 73 publications

Accountants’ postures under compulsory digital transformation imposed by government oversight authorities

Accountants’ postures under compulsory digital transformation imposed by government oversight authorities

Exploring effective implementation pathways to become an excellent chief financial officer in public hospital: a qualitative comparative analysis (QCA) from China

Exploring a competency framework for the chief financial officer of a hospital: a qualitative study from China

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