Be(com)ing the chief financial officer of an organisation: Experimenting with Bourdieu's practice theory

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 hand, this paper 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, characterising: first, the ways in which he incorporated his position; second, the practices embedded in habitus and style; third, the projects and practices instituted in relation to the turnaround strategy of his work organisation; 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 habitus. 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 characterise the ontology and epistemology of management accounting practice.