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FASB tees up GAAP codification cleanup for comment
The codification, effectively the bible for generally accepted accounting principles, is continuously updated.
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CFOs must prep for AI-driven organizational, strategy shifts: Thomson Reuters
Finance chiefs are “uniquely positioned” to take point on AI’s adoption ahead of its coming strategic impact, Thomson Reuters’ interim head of data and analytics said.
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Target names PepsiCo executive Jim Lee CFO
He replaces Michael Fiddelke, who had served jointly as COO and CFO since February. Fiddelke will stay on as operations chief.
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Fed cuts main rate by half point, voices confidence inflation falling
The central bank trimmed borrowing costs from a two-decade high after policymakers noted their growing concern about softening in the labor market.
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Xerox taps insider to succeed retiring CFO
The transition comes on the heels of recent financial challenges at the Norwalk, Connecticut-based tech company.
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CFOs juggle strategy, economic pressures in AI push: Billtrust
Heightened pressure to deliver strategy could push CFOs to adopt GenAI faster than previous technologies, Billtrust CEO Sunil Rajasekar said.
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Mastercard CFO to continue working after cancer diagnosis
Decisions on medical disclosures can be challenging for companies but Mastercard’s approach drew high marks from some corporate governance experts.
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Retail sales highlight consumer strength as Fed mulls size of rate cut
Even with solid retail sales data, traders in interest rate futures increased odds that the Federal Reserve will cut the benchmark interest rate Wednesday by a half point.
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SEC charges Kubient CEO, CFO with accounting fraud, misleading investors
Kubient’s ex-CEO, ex-CFO and former head of audit each lied to the business’ independent auditor and reported $1.3 million in false revenue, the SEC alleges.
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Microsoft finance team puts Copilot to test in transformation push
The software giant’s finance professionals have become some of Copilot's top users in the company, Microsoft’s Cory Hrncirik said.
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SAP joins $15M funding round for risk detection startup Datricks
The investment comes as payment fraud targeted at businesses — a key focus of the startup — is surging, with a heavy impact on corporate revenues.
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AICPA, NASBA take big step toward CPA licensure option with less schooling
The accounting associations are seeking public comment on an alternative route to getting a CPA license that doesn’t require a fifth year of college.
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EPA issues violation notice to ADM over carbon sequestration permit
The violation relates to corrosion in a monitoring well at the agricultural supply chain company’s second injection site that has since been plugged and did not affect surface or groundwater, ADM said in a statement.
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T-Mobile hikes CFO compensation amid antitrust scrutiny
The CFO’s raise comes as T-Mobile looks to continue an aggressive growth push in the face of antitrust scrutiny from lawmakers.
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SEC charges leaders of failed online pharmacy in $170M fraud case
SEC Chair Gary Gensler has stepped up enforcement since 2021, targeting investor fraud, cyber-related misconduct and misleading financial reporting.
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IMAX CFO: Taking a disciplined approach to movie magic
Dubbed a “homegrown talent” when named CFO in 2022, Natasha Fernandes says relationships forged in the finance trenches have been key to her success.
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Microsoft names former GE CFO to long-vacant COO role
The tech giant is tapping the GE alum to serve as COO, a role which has stayed vacant for eight years, as it continues to bet big on AI.
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Election triggers new tax scenario planning: U.S. Bank survey
Former President Donald Trump has talked about reducing the current 21% corporate tax rate while Vice President Kamala Harris proposed raising it to 28%.
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Artificial intelligence may boost profit margins 2% over next five years: BofA
“Investors frequently overestimate the magnitude of tech disruption in the near term and underestimate it over the longer term,” Bank of America said.
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Economic, cyber worries among top CFO concerns: Travelers
Over half of CFOs pointed to mitigating business risks as a key skill set, a recent Travelers study found.
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Inflation slows to three-year low, clearing way for Fed rate cut
The persistence of shelter cost inflation prompted futures traders to retreat from predictions that policymakers next week will cut the federal funds rate by a half point.
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CFOs’ AI adoption gains momentum: Gartner
Sixty-six percent of finance leaders are more optimistic about the technology compared to last year, the study found.
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Ally shares slump after CFO warns of ‘intensified’ credit challenges
Borrowers have continued to struggle with high inflation, cost of living and a “weakening” employment picture, CFO Russ Hutchinson said.
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Small businesses bedeviled by inflation as Fed signals rate cut plan
Inflation persisted last month as the top concern among small businesses, the National Federation of Independent Business said.
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Citi CFO: Businesses mull derisking as uncertainty persists
While the “boil” appears to be coming off inflation, companies are still grappling with uncertainty around elections and rates, Citigroup’s Mark Mason said Monday.
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