Financial Reporting

  • The HP logo is displayed in front of the comany's office complex.
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    HP taps former JP Morgan executive as CFO

    The transition comes as the tech giant is focused on recovering from sagging sales after heightened demand during the COVID-19 pandemic.

    By • June 26, 2024
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    alfexe via Getty Images
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    FASB sets compliance clock for new expense disclosure rules

    Compiling data to comply will take “quite a bit of company resources,” said Nicole Wright, an associate professor of accounting at James Madison University.

    By • June 26, 2024
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    Fotolia
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    Trendline

    Financial reporting enters a new age

    Finance leaders are increasingly relying on metrics including churn, net promoter score and customer growth to reveal company performance in a way traditional GAAP measures cannot.

    By Cneche staff
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    qingwa via Getty Images
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    Restatements decline, with small companies more prone to error: CAQ

    The Sarbanes-Oxley Act of 2002 prompted a long-term reduction in restatements by tightening financial reporting and audit rules, CAQ said.

    By • June 24, 2024
  • Richard Jones
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    Courtesy of Pat Dorsman for FAF
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    With reservations, FASB votes for narrower software rules update

    While some members expressed concerns about not going far enough to modernize the rules, the FASB voted 7-0 to move forward with a more targeted proposal.

    By • June 20, 2024
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    Matthew Horwood via Getty Images
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    Saab deputy finance chief moves to CFO chair

    The CFO swap comes as the defense material provider is looking to continue a two-year hot streak, targeting organic sales growth between 15%-20% for 2024.

    By • June 18, 2024
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    IRS aims to end ‘shell game’ by partnerships, targets $50B extra in taxes

    Tax dodging by complex partnerships “has been overlooked for more than a decade,” IRS Commissioner Daniel Werfel said Monday.

    By • June 17, 2024
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    Chip Somodevilla via Getty Images
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    Ex-Synchronoss CFO to pay $125k fine for accounting misconduct

    Alongside the reimbursement of certain compensation to Synchronoss, the ex-CFO agreed to pay $125,000 in civil penalties without admitting or denying the SEC’s charges.

    By • June 17, 2024
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    Courtesy of FASB
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    FASB’s environmental credit rules recall crypto debate

    Like crypto rules FASB recently finalized, the environmental credit accounting standards would provide specific guidance where GAAP is currently silent.

    By • June 13, 2024
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    Reduced pricing plan sees Wise shares slump despite profit surge

    The fintech plans to continue its strategy of reducing prices for its customers, which is reflected in its forecast, interim CFO Kingsley Kemish said.

    By • June 13, 2024
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    Fed trims 2024 rate forecast to one cut, holds borrowing costs steady

    The Fed decision followed a report that inflation last month rose less than economists predicted and at the slowest pace since 2021.

    By • June 12, 2024
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    Justin Sullivan via Getty Images
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    Alphabet hands new CFO $9.9M sign-on bonus

    The incoming finance chief — Eli Lilly veteran Anat Ashkenazi — was granted the bonus in light of “her prior company’s forfeited compensation,” Alphabet said.

    By • June 10, 2024
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    Adobe Stock | Serhii

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    Sponsored by WilliamsMarston

    Navigating the IPO journey: Key preparation considerations for CFOs

    Market shifts call CFOs for an IPO preparation session.

    June 10, 2024
  • A group of young protesters marching fill the frame with signs that read "Planet Over Profit" and "Climate Justice" with a sunflower sprouting bottom to top as the "i" in climate and "t" in justice.
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    Sierra Club, NRDC drop legal challenges to SEC climate rule

    The two environmental groups have decided to focus resources elsewhere to improve climate-related financial disclosures.

    By Lamar Johnson • June 6, 2024
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    Courtesy of Toast Inc
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    Toast CFO aims to build ‘enduring’ company on path to profitability

    Three years after Toast went public, thinking strategically about building a team for the future was one of her most important early priorities, said CFO Elena Gomez.

    By • June 6, 2024
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    Courtesy of Pat Dorsman for FAF
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    FASB seeks comment on narrow hedge accounting fix

    Despite a unanimous vote, some board members expressed concern the proposed improvements to GAAP hedging guidance do not go far enough.

    By • June 5, 2024
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    Courtesy of Hertz/GM
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    Hertz poaches Spirit Airlines CFO

    Less than a year after taking the permanent CFO seat, Alexandra Brooks is exiting the rental car company as it struggles to manage its bold EV bet.

    By • June 3, 2024
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    Joe Raedle via Getty Images
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    Costco’s CFO calls $1.50 hot dog ‘safe’ in debut earnings call

    The retailer’s new finance chief Gary Millerchip is staying the course on the company’s popular $1.50 hot dog and soda combo pricing.

    By • May 31, 2024
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    Jeff Schear via Getty Images
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    FanDuel parent Flutter swaps CFOs amid pivot to NYSE listing

    The CFO swap comes as Flutter hones in on the U.S. for future growth and expansion.

    By • May 31, 2024
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    Bluebird names new CFO after accounting errors

    The biotech company is revising financial statements for 2022 and the first three quarters of 2023 following the discovery of accounting missteps.

    By • May 30, 2024
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    Jacobs-led QXO taps Barclays alum as first finance chief

    M&A “heavy hitter” Ihsan Essaid will take the top financial seat as QXO looks to become a market leader in the building product distribution space.

    By • May 28, 2024
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    Justin Sullivan via Getty Images
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    Nvidia shows off strength of AI with 262% sales jump

    “The next industrial revolution has begun,” Nvidia CEO Jensen Huang said during an earnings call last week.

    By • May 28, 2024
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    Matthew Eisman/Getty Images for Pandora Media via Getty Images
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    Spotify vet tapped for VF Corp.’s CFO chair

    The appointment is part of a broader leadership shake-up at the struggling footwear company as it tries to restore profitable growth.

    By • May 23, 2024
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    Opinion

    3 ESG lessons CFOs can learn from SOX compliance

    ESG reporting may be a relatively new challenge but there is nothing new about C-suite leaders facing “perfect storm” reporting requirements, Wolters Kluwer's Alessio Lolli writes.

    By Alessio Lolli • May 23, 2024
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    SEC fines NYSE’s parent $10M for failing to report cyberattack

    The settlement sheds light on the costs of cyberattacks that can include penalties for non-compliance with timely disclosure requirements after the events occur.

    By • May 22, 2024
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    Justin Sullivan via Getty Images
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    Red Lobster’s ‘erratic’ payments to vendors among bankruptcy warning signs: Creditsafe

    The company’s average “days beyond terms” jumped from 15 in December to 30 in January, reaching 57 as of March.

    By • May 22, 2024