Have Spreadsheet, Will Travel.

Is it possible for CFOs to jump industries -- to go from widget manufacturing finance, say, to movie studio finance? It is if you're Chuck Martin, who's worked in publishing, entertainment, wholesale food distribution, Las Vegas theme park and now multi-level marketing finance. "Nothing is necessarily unique about any one particular industry," says Martin, CFO of Equinox International in Las Vegas. "There may be jargon differences, but everything goes according to GAAP. Treasury management and banking relationships may have different twists. But if you're familiar with a particular FASB [regulation], number 13 for leases will be the same across the board." And Martin makes industry-hopping sound like the norm. "I've never had the opportunity to apply for a job in an industry in which I've had experience," he laughs.

General Practitioners

"For a while, it was in vogue to be specialized," says Cecil Gregg, executive director of RHI Management Resources. "But accounting requirements are fairly universal. Being technically competent is what's important."

"Technical skills and certain behavioral competencies -- analytic, computational and regulatory" -- are what companies look for, agrees Paul Platten, Ph.D., head of the Boston human resources consulting practice for PricewaterhouseCoopers. "In years past, industries had very bright lines between them. But organizations these days aren't hierarchical; they're team-oriented," he says. "They reward people who can manage by influence rather than by decree; people who can translate financial information to strategic business information; who can plan and set goals; and who can take part in non-financial discussions about business issues. They want people who bring a finance perspective but aren't limited by it."

Some companies remain industry-centric and adamant about wanting "someone who can pick up where the last person left off," according to Diane Albergo, Financial Executive Institute's career services manager. But "if you have well-rounded skills, a broad business background, general management skills and an understanding of business, you can make a switch much more smoothly," she adds. "The more diversified you are -- and the more entrepreneurial and business-oriented -- the easier it is to change from industry to industry."

"Generalist isn't the right word" to describe the industry-adaptive CFO, says Gregg. But regardless of labels, he thinks all CFO skill sets should include a knack for communication, the ability to think and plan strategically and to be a mentor. Further, Gregg notes, "You need to be more aware of emerging technologies. And you need to be the alter ego or other half of the CEO's brain, and much more of a partner to the CEO."

Platten seconds that view. "Most of the strategic opportunities in industries are out of the box, where the foresight of the CFO makes him a business partner," he says. "Working with others and translating financial information into non-financial action" also are high priorities, he adds.

Sure, some industries have their little idiosyncrasies. For instance, "Entertainment might be a little bit squirrelier in terms of corporate culture," Martin says. "It's the CFO's job to maintain control and make sure people aren't overspending. But entertainment people want it when they want it, regardless of cost." "Health care has some nuances that involve a greater learning curve," adds Gregg. "And if your company is going public, you need IPO experience. But many CFOs we place have been in three, four or five industries. After the second or third, they find their skills very transferable. There aren't many surprises."

One area that may provide surprises, though, is high-tech. "Technology is very different than other industries," says Ken Goldman, CFO of Excite@Home. "Within technology you can move from one space to another, But it takes six months to 12 months to really get your feet wet and learn the key drivers and principles. Even some of the accounting issues and practices can be quite specific to the different segments of technology. For example, the Internet is undergoing review of some of its accounting policies today by both the FASB and the SEC. You have to know the players, be able to predict what's going to happen and understand the technology."

"There's no way for most CFOs to have had experience in start-up ventures in Silicon Valley," adds Gregg. "There aren't precedents for technology companies."

Furthermore, says Platten, "Given some of the uncertainties of the dot-coin company, they're different than what you've run into in more traditional companies. And people may be looking for different returns."

The Soft Touch

If you decide to cross industry borders, however, you may need to apply the so-called soft skills in different proportions than you're used to. "Soft skills are different in different corporate cultures, and you have to adapt to them," Martin says. "You may stick out like a sore thumb in a tie and suit in some places, for example. Or the sense of urgency may differ. You need to take the pulse of the organization as you're learning who the people are."

But, in general, changing industries isn't that difficult. "Just grab hold of somebody who's been in the company for a period of time," Martin advises. "Pay attention to what people say about the organization and how it runs. Then just buckle down and do your homework."