Becoming the Chief Financial Officer of an Organization: Experimenting with Bourdieu's Practice Theory
Posted: 23 Jul 2008
Date Written: June 20, 2008
Abstract
This paper has two aims. On the one hand, it adds to a growing but still sparse literature on the work practices of the leader of the accounting and finance function or the Chief Financial Officer (CFO). How does one enact being a CFO? On the other, this paper also addresses a curiosity in the management accounting literature, namely the relative neglect of Bourdieu's practice theory - despite its seeming relevance for understanding management accounting in the field. As such, this paper reflects a re-engagement with understanding practice by providing an outline of Bourdieu's practice theory. This is related to a field study of a CFO in action, characterizing: first, the ways in which he incorporated his position; second, the practices embedded in habits and style; third, the projects and practices instituted in relation to the turnaround strategy of the work organization; and, fourth, the heterodox accounting practices that this CFO was attempting to implement. This is followed by a discussion of the importance of traditional management accounting practices to this CFO's habits. We conclude by considering the more general implications of a desire to experiment with Bourdieu's practice frame and outline issues relating to the ways in which we characterize the ontology and epistemology of management accounting practice.
Keywords: Chief Financial Office, disposition, position, habitus, practice theory, turnaround strategy
JEL Classification: M40, M46
Suggested Citation: Suggested Citation