Assignment: The Personality Studies

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Assignment: The Personality Studies

Assignment: The Personality Studies

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A classic study by Laribee (1994) reported that 37.3 percent of the study sample were STJs (significant compared with 20.5 percent found in the general population), and 56.0 percent were I types (significant compared with 40.1 percent found in the general population). The consistency among the findings of the personality studies on accountants is remarkable considering when the studies were conducted (from 1980 to 1997) and where the studies were conducted (United States, United Kingdom, and the Netherlands).

ISTJs represent 11 to 14 percent of the American population and are serious, respon- sible, sensible, and trustworthy, and they honor their commitments. Practical and realistic, they are matter-of-fact and thorough. They are painstakingly accurate and methodical and have great powers of concentration. They value and use logical and impersonal analysis and are organized and systematic in getting things done on time (Myers & Briggs Foundation 2016).

Do CFOs have the same personalities as accountants, or do only the extroverted accountants become CFOs? In a survey of healthcare senior financial executives (which includes not only CFOs but also vice presidents of finance) conducted by HFMA and Texas State University, it was reported that 37.8 percent of the sample were STJs (compared with 37.3 percent found in the accountant sample and 20.5 percent found in the general population), and 57.0 were I types (compared with 56.0 found in the accountant sample and 40.1 percent found in the general population), confirming that healthcare CFOs in the early twenty-first century had personalities similar to those of accountants (Nowicki 2003). A healthcare finance executive study published in 2015 found a significant shift from introversion to extroversion as well as higher levels of sensing (Lieneck and Nowicki 2015).

controller And treAsurer

Reporting to the CFO are the controller and the treasurer. The controller is the chief accounting officer of the healthcare organization and is usually responsible for financial accounting, managerial accounting, tax accounting, patient accounting, and internal

controller

The➤chief➤accounting➤

officer➤of➤an➤

organization.

treasurer

The➤person➤responsible➤

for➤managing➤

the➤capital➤of➤an➤

organization.

MINI-CASE STUDY✓

Suppose➤you➤are➤the➤chief➤financial➤officer➤of➤Smithsville➤Hos-

pital,➤and➤you➤have➤recently➤implemented➤a➤budget➤reduction➤

throughout➤the➤hospital.➤You➤want➤to➤ensure➤that➤your➤actions➤

are➤accepted➤among➤the➤hospital➤department➤managers.➤What➤

would➤be➤the➤best➤way➤to➤communicate➤with➤these➤depart-

ment➤managers?➤If➤there➤is➤resistance,➤what➤should➤you➤do?

00_Nowicki (2339) Book.indb 39 5/17/17 10:57 AM

I n t r o d u c t i o n ➤ t o ➤ t h e ➤ F i n a n c i a l ➤ M a n a g e m e n t ➤ o f ➤ H e a l t h c a r e ➤ O r g a n i z a t i o n s4 0

auditing. The treasurer is responsible for managing working capital, the healthcare orga- nization’s investment portfolio, and the financing of capital expenditures. In smaller organizations, the controller function and the treasurer function may be combined into one position, or they may be integrated with the CFO’s responsibilities. According to the 2015 HFMA Compensation Survey (shown in exhibit 2.4), average compensation for controllers was $111,300 (HFMA 2016a).

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