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The Chief Financial Officers Act of 1990 (and the subsequent Government Management Reform Act of 1994) mandated federal agencies to prepare corporate-style annual financial statements and subject them to independent audit. Over a decade later, it is reasonable to ask what the consequences of CFO Act financial statements have been. Accrual accounting produces auditable financial statements that establish accountability, contribute to the credibility of financial information, and identify long-term financial issues; but financial statements are not linked to the processes for resource-allocation decisions, nor do they produce information needed by managers. Some of these shortcomings are explained by contextual and sectoral differences.

This article summarizes findings of a survey designed to obtain perceptions of municipal finance officers in Massachusetts regarding stabilization fund management strategies. Responses indicate that stabilization funds have become embedded components of municipal revenue management strategies, that municipalities are reluctant to tap stabilization fund balances, and that chief financial officers perceive these balances to be important to bond ratings. Some finance officers report active use of stabilization funds, generally because their communities either rely on the stabilization fund to finance capital projects or because they are currently vulnerable to revenue emergencies. A small number of communities report that they rely on voters to override statutory property tax levy limits, while maintaining stabilization fund balances above the statewide median.

Traces the history of the development of the chief risk officer. Considers where the value of such a role lies. Outlines the skills required by the individual and discusses the competing issues which firms must bear in mind.

This study aims to investigate the extent to which the presence of chief supply chain officers (CSCOs) in top management teams (TMTs) helps firms to reduce the incidence of product recalls.

The authors identified all recalls for the period 2010–2017 issued by publicly held firms regulated by the US Consumer Product Safety Commission. These data were subsequently combined with information on TMT composition from BoardEx and financial performance data from Compustat to create a unique data set.

The study identified a significant and negative association between CSCO presence and incidence of product recalls. The evidence also supports the conjecture that this association is stronger in larger firms, indicating that CSCOs are especially effective when operating within more complex supply chains.

The findings provide important insights into quality management in contemporary supply chains and indicate that assigning specific responsibility for supply chain management to a TMT member improves product reliability.

These findings contribute to the growing literature on the underlying causes of a product recall by identifying corporate governance antecedents of external quality failures of this kind.

This study aims to examine the relationship between the educational background of Chief Financial Officers (CFOs) from reputable universities and financial reporting quality (FRQ). Educational background is divided into two categories: an undergraduate degree from a reputable university and a Master of Business Administration (MBA) degree from a reputable university.

This study uses data from all companies listed on the Indonesia Stock Exchange from 2010 to 2019, except for financial companies, and obtains 2,583 research samples. The least-squares regression analysis model was used in this study.

This study finds that the educational background of CFOs with a bachelor’s degree and CFOs with an MBA from reputable universities has a positive and significant relationship with FRQ. This study also performs an additional analysis with high-low growth and high-low tech and robustness testing with coarsened exact matching method and Heckman to corroborate the results.

This study provides a theoretical contribution to the literature on the relationship between CFOs’ educational background and FRQ in Indonesia. It is also expected to contribute to the implementation of company policies, management and educational institutions in Indonesia.

This study provides a novel measurement of CFO reputation, measured using the ranking of CFO alumni from reputable universities and its association with FRQ.

The Chief Financial Officers Act and subsequent legislation require federal agencies to produce corporate-style financial statements. Arguments for financial statements drew on private sector analogies and suggested policy makers and managers would use the information to make better public policy and management decisions and improve accountability for financial management and program performance. Nearly all major government agencies have unqualified audit opinions and improvements in financial management are claimed. But benefits for policy making and management are not yet well understood. This paper examines the question by comparison with the private sector and by examining what agencies say about the uses and users of financial statement information. The emerging challenge in the evolution of federal financial reporting is to develop better government-specific analytical tools and other financial information for policy makers and managers.