From Spreadsheets to Spotlight: Survey Reveals that CFOs Place High Value on Overall Business Acumen. (Executive Director's Corner).

Finance Executives are trading their balance sheets for business strategy sessions, a new survey suggests. When chief financial officers (CFOs) were asked what qualities, aside from accounting knowledge, contributed most to their attaining their current positions, the top response was overall business acumen (26 percent), followed by strong decision-making abilities (19 percent).

The survey was developed by RHI Management Resources, North America's largest consulting firm providing senior-level accounting and finance professionals on a project basis. It was conducted by an independent research firm and includes responses from 150 CFOs from a stratified random sample of Canadian companies with more than 20 employees.

CFOs were asked "Other than accounting and finance knowledge, which one of the following qualities do you believe contributed most to your attaining the role of CFO?" Their responses:

Overall business acumen      26%
Decision-making abilities    19%
Interpersonal skills         14%
Employee management skills   12%
Leadership abilities         11%
Computer skills/knowledge     3%
Other                        13%
Don't know/no response        2%
                            100%

According to David King, branch manager of RHI Management Resources' Calgary location, overall business acumen and decision-making abilities go hand in hand for many of today's CFOs. "Both of these qualities require strong insight, proven judgement and financial expertise."

King noted that CFOs also rely on soft skills every day in their communication with staff, senior management, clients and the investor community. "Through training courses and seminars, many of tomorrow's CFOs are honing their interpersonal skills today, including listening, negotiation and public speaking abilities. Consequently, they will be better positioned to assume future leadership roles."