CFO leadership amid the novel coronavirus crisis
How CFOs can be prepared to lead their companies through the challenges of a global health scare.
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Costco CFO keeps close eye on working capital, inventory
By Jane Thier • Oct. 1, 2020Same-store sales for the members-only retail store rose more than 14% year-over-year in its most recent quarter, which Richard Galanti credits to consistent communication with merchants and suppliers. Read the full article ➔
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Executives risk wealth loss as bankruptcies increase
By Robert Freedman • Sept. 28, 2020CFOs and other corporate leaders face big personal losses if their company goes bankrupt and their deferred compensation is tied to nonqualified accounts. Read the full article ➔
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CFO enthusiasm towards fintech investments unaffected by pandemic
By Jane Thier • Sept. 28, 2020More than 90% of CFO respondents are investing in financial technology, including solutions to improve cash flow, despite the belt-tightening their companies have instated during the pandemic. Read the full article ➔
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To succeed post-COVID, CFOs need an attitude adjustment
By Lakshmi Raj • Sept. 27, 2020The CFO's past objectives were accommodating stakeholders, delivering the right numbers, and profitability. Now, they must center employee connection, wellness and satisfaction, Replicon CEO Lakshmi Raj says. Read the full article ➔
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CFO 'filled gas tank' at COVID-19 start to keep company growing
By Robert Freedman • Sept. 24, 2020CMS software platform Contentful had a good cash position, but a quickly executed fundraise helped it stay focused on its North Star. Read the full article ➔
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Harvard CFO: 'We cannot do everything everyone wants'
By Jane Thier • Sept. 24, 2020Thomas Hollister said the perception of Harvard University as having unlimited resources is false, and it can't "continue to deficit spend on an operating basis." Read the full article ➔
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Companies see 'fresh-start' accounting as way to improve post-bankruptcy odds
By Ted Knutson • Sept. 23, 2020As the pandemic sends companies into bankruptcy, CFOs consider a reorganizational approach that creates a new entity with a new set of books. Read the full article ➔
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Modeling skills a key shift in FP&A teams, CFOs say
By Robert Freedman • Sept. 22, 2020The pandemic has accelerated the trend of new finance hires being expected to bring modeling competency to improve predictive analytics capabilities. Read the full article ➔
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CFO: Crisis 'not a good time to slow down' on innovation
By Robert Freedman • Sept. 21, 2020Shoring up cash and investing for growth can happen in tandem, Learn4Life Network finance leader Guita Sharifi says. Read the full article ➔
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Lime CFO aims for profitability in 2021
By Jane Thier • Sept. 21, 2020As the dockless scooter startup pursues profitability, Andrea Ellis said the company is working towards its ultimate goal — "owning" all trips under five miles. Read the full article ➔
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Google CFO: In-person work 'key' to fostering innovation
By Jane Thier • Sept. 18, 2020Though Google is letting employees work remotely through July 2021, Ruth Porat said in-person collaboration "within teams and across teams" is critical. Read the full article ➔
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Using agile planning to return to growth
By Darrell Cox • Sept. 18, 2020Having a fully integrated, bottom-up and agile 12-month plan enables you and your team to react quickly when something like the pandemic comes your way. Read the full article ➔
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Why zero-based budgeting is back in style
By Jen A. Miller • Sept. 20, 2020The pandemic has driven firms to rethink how much product they're buying and how much they'll need to meet demand. Read the full article ➔
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Dunkin' CFO: Company's westward expansion 'key' to future development
By Jane Thier • Sept. 17, 2020Dunkin's decision to remain open as competitors closed and to open new branches in the South and West have positioned it well for the future, its CFO said Tuesday. Read the full article ➔
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Starbucks CFO: Curbside expansion key to customer retention
By Julie Littman • Sept. 17, 2020Curbside is expected to be particularly helpful at drive-thru locations to prevent customers from driving away if lines are too long, CFO Pat Grismer said. Read the full article ➔
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The cost CFOs refuse to cut: Employee retention
By Jane Thier • Sept. 16, 2020As the pandemic drags on, CFOs are reexamining their budgets and overwhelmingly opting to protect staff retention efforts, fearing the costly departure of top performers. Read the full article ➔
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Survey: CFOs expect rise in corporate tax rates, trade tensions, post-election
By Jane Thier • Sept. 15, 2020Of those CFOs who participated in the PwC survey, 39% said the federal government should implement a strategy to boost domestic production of essential goods to bolster the economy. Read the full article ➔
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Many banks not yet accepting PPP forgiveness applications
By Jennifer Goodman • Sept. 15, 2020Lenders are awaiting more guidance from the federal government as well as potential legislative action on the Paycheck Protection Program. Read the full article ➔
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Peloton CFO: Company doesn't 'want, or need, gyms to die' to maintain growth
By Jane Thier • Sept. 14, 2020Jill Woodworth said the company's total recorded workouts, reaching almost 77 million in the quarter, is the KPI of which she is most proud. Read the full article ➔
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Pandemic elevates treasury function while exposing its performance gaps
By Robert Freedman • Sept. 12, 2020Treasurers have been key in their organization's efforts to keep cash on hand, but their skills have room for improvement, a survey shows. Read the full article ➔
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Bankruptcy a tactical tool to win rent concessions
By Robert Freedman • Sept. 13, 2020Despite the pandemic, landlords are unlikely to negotiate willingly, attorneys say. Read the full article ➔
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Employers face administrative burden under payroll tax deferral
By Robert Freedman • Sept. 9, 2020Questions remain unanswered on how to account for 6.2% employee payroll tax holiday when tax filings come due next year. Read the full article ➔
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Amid drop in sales, Urban Outfitters CFO opts to curtail inventory
By Jane Thier • Sept. 8, 2020"One of the most complex things we've been managing throughout the pandemic is just managing the sourcing network," Frank Conforti said. Read the full article ➔
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Pandemic shuffles companies' real estate strategies
By Robert Freedman • Sept. 6, 2020Some asset classes are thriving while others face a flood of ghost properties. How finance leaders navigate the uncertainty over the next six months is crucial. Read the full article ➔
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Trek CFO: 'Pent-up demand' driving bike boom
By Jane Thier • Sept. 4, 2020"Everyone bought toilet paper, and then they bought kids' bikes and entry-level mountain bikes," Chad Brown said. Amid the pandemic, the U.S. cycling industry overall saw a 75% year-over-year sales growth. Read the full article ➔
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Private capital hungry for companies hoping to make up 'lost year'
By Robert Freedman • Sept. 3, 2020There’s strong competition for companies that benefited from the pandemic. But there are other good buys out there, investors say. Read the full article ➔
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Following strong Q2, Zoom CFO says video conferencing is here to stay
By Jane Thier • Sept. 2, 2020Even after in-person gatherings return, video conferencing will remain a fixture in business, education and communication, and "will be a part of our lives forever," Zoom finance chief Kelly Steckelberg said. Read the full article ➔
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Employers face liability under payroll tax deferral guidance
By Robert Freedman • Aug. 31, 2020Many employers could opt out of President Trump's pandemic relief order on concerns they could be left holding the bag for back taxes. Read the full article ➔
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PPP loan forgiveness could result in big tax bills
By Jennifer Goodman and Joe Bousquin • Aug. 31, 2020Unless Congress intervenes, the IRS will not allow businesses to write off wages and rent paid for with Paycheck Protection Program funds. Read the full article ➔
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Pandemic pushing CFOs further into strategist role: survey
By Jane Thier • Aug. 28, 2020In February, 29% of surveyed CFOs reported spending a significant portion of time in a strategist role. In May, that jumped to 42%. Read the full article ➔
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Nearly half of companies at pre-pandemic operating levels: CFO survey
By Jane Thier • Aug. 27, 2020Companies have largely bounced back operationally from last quarter, and finance leaders have a renewed sense of optimism for 2021, Deloitte's 3rd quarter CFO Signals survey found. Read the full article ➔
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How CFOs are reporting coronavirus impact on earnings calls
By Jane Thier • March 4, 2020Large companies including Apple, Microsoft and United Airlines are addressing investor concerns by significantly lowering their earnings expectations for the quarter and for 2020. Read the full article ➔
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Real-time planning helps CFOs answer pandemic-critical 'what if' questions
By Paul Prendergast and Patrick Picha • Aug. 27, 2020To forecast today, think in shorter time horizons, identify how COVID-19 changes your business drivers, use large amounts of quality data to weigh "what if" scenarios, and create agile processes, specialists say. Read the full article ➔
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43% of finance leaders optimistic going into 2021: survey
By Jane Thier • Aug. 26, 2020While 98% of respondents in OneStream Software's Enterprise Financial Decision-Making survey experienced pandemic-related challenges, nearly half still plan on increasing their budgets next year. Read the full article ➔
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CFO mulling post-pandemic go-to-market playbook
By Robert Freedman • Aug. 25, 2020Finance chief Ivor Macleod of regenerative drug company Athersys has learned a lesson from his company’s virtual capital raise: on-site sales presentations might be a thing of the past. Read the full article ➔
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CFOs must grapple with pandemic-related payroll tax nexus
By Ed McCarthy • Aug. 24, 2020With employees working remotely, often in another state from the office, payroll tax and other calculations are complicated by economic nexus issues. Read the full article ➔
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Pandemic-hit companies can still raise capital, investor says
By Robert Freedman • Aug. 18, 2020The key is to give an inside look at your data to help bridge a widening trust gap without in-person meetings. Read the full article ➔
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How one CFO pulled off the year's biggest tech IPO
By Jane Thier • Aug. 17, 2020Bryan Hipsher joined Dun & Bradstreet during the most fraught period of its company history. Less than 18 months later, it became the year's best tech IPO. Read the full article ➔
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How to be a data-driven CFO (without reliable data)
By Jane Thier • Aug. 15, 2020Alyssa Filter, CFO of tech startup Clari, explains to CFO Dive how she remains strategic without access to her usual insights. Read the full article ➔
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In uncertain times, CEOs trust CFOs most
By Jane Thier • Aug. 13, 2020The pandemic has led CFOs to become "smashers of rose-colored glasses," Oracle NetSuite researchers wrote. CFOs provide the realism, and for that reason, often have the CEO's ear. Read the full article ➔
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Pension debt expected to rise 6% due to COVID-19 volatility
By Robert Freedman • Aug. 13, 2020Companies in the auto and airline industries, among other sectors hard hit by the coronavirus, will see pension debt rise most, Moody's Investors Services analysts say. Read the full article ➔
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Amid remote work, CFOs expected to impart digital change
By Jane Thier • Aug. 12, 2020Fifty-eight percent of CFOs believe the finance chief is responsible for imparting digital change, but half admit their organizations’ execution of change management is falling short. Read the full article ➔
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Workplace SaaS CFO keeps eye on post-COVID growth
By Robert Freedman • Aug. 12, 2020The pandemic has hit Envoy's market hard, but CFO Sinohe Terrero is laying the groundwork for the company to thrive when remote workers return to the office. Read the full article ➔
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Sale leasebacks touted as a way to generate capital
By Robert Freedman • Aug. 11, 2020Despite the downturn and uncertainty over long-term impacts on office markets by remote workers, there remains a big demand for selling property and leasing it back. Read the full article ➔
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CFO's 13-year tenure 'vital' to COVID-19 leadership
By Jane Thier • Aug. 7, 2020Software company Apptio brought its first product to market during the 2008 recession. CFO Kurt Shintaffer, who's held the position for 13 years, said that experience now shapes Apptio's commercializing strategy. Read the full article ➔
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Could CFOs be included among mass layoffs?
By Jane Thier • Aug. 4, 2020With the economy unlikely to improve soon, Shawn Cole, president of executive search firm Cowen Partners, explains whether CFOs should worry about their roles being included in cost cuts. Read the full article ➔
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Most CFOs don't drive returns exceeding cost of capital: survey
By Jane Thier • Aug. 3, 2020CFOs who model costs around the factors unique to their organizations exhibit more resilience in the face of unexpected events, such as today's economic crisis, Gartner found. Read the full article ➔
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P&G CFO credits narrow focus for best sales year in 15 years
By Jane Thier • Aug. 2, 2020On the heels of the company's earnings report Thursday, vice chairman, CFO and COO Jon Moeller said the company is situated "very, very well" for the future. Read the full article ➔
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Pandemic to heighten internal reporting challenges
By Robert Freedman • July 31, 2020As staff work remotely, finance leaders are paying an even higher price in opportunity costs to release recurring reports, a reporting software executive says. Read the full article ➔
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CFOs challenged to retain finance talent amid COVID-19
By Jane Thier • July 30, 2020At a CFO Live virtual event, panelists shared thoughts on retaining crucial finance talent during a time when companies need it most. Read the full article ➔
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COVID-19 accelerating changes in health benefits, specialists say
By Robert Freedman • July 30, 2020Employer plans will likely focus more on preventive care and telehealth after the pandemic. Read the full article ➔
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False claims expected to be principal source of Main Street loan enforcement
By Robert Freedman • July 27, 2020Companies who act in good faith and can back up their certifications "have little to fear" from federal enforcement, the Department of Justice says. Read the full article ➔
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Understand your coverage options in the face of 2020's triple risk threat
By Joseph Galanti and Peter Halprin • July 27, 2020COVID-19, protest-related vandalism, and a severe hurricane season promise to test organizations' insurance against loss of business. Read the full article ➔
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Chipotle CFO: Restaurant closures have had 'no impact' on sales
By Jane Thier • July 26, 2020Digital sales are up 200% from last year, helping to keep Chipotle on top, CFO Jack Hartung said. Read the full article ➔
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Capital will flow to companies aiming at post-COVID-19 economy, funder says
By Robert Freedman • July 26, 2020Companies that must retool to compete once the pandemic goes away face a steeper hurdle attracting capital. Read the full article ➔
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Men's Wearhouse parent's CFO departs amid store closures, layoffs
By Kaarin Moore • July 23, 2020Tailor Brands, which owns Men's Wearhouse and Jos. A. Bank, will cut 20% of its corporate workforce and close up to 500 stores, it said Tuesday. The CEO and newly hired chief restructuring officer will share interim CFO duties. Read the full article ➔
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Remote work exposes payment system inefficiencies
By Robert Freedman • July 22, 2020Although most organizations want to automate payments, only about 8% have fully done so. Read the full article ➔
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PE market remains healthy for COVID-unaffected companies
By Robert Freedman • July 20, 2020The appetite for capital and investment remains strong, although deals require more equity now than pre-pandemic, fund managers say. Read the full article ➔
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Ally Financial CFO: Q2 performance 'stronger than anticipated' after 58% earnings drop
By Jane Thier • July 20, 2020Despite unknowns in the current economic environment, "stimuli support programs and proactive customer engagement actions have driven encouraging trends," CFO Jennifer LaClair said. Read the full article ➔
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Bessemer finance leader: You need 2 years of cash to survive
By Robert Freedman • July 19, 2020Veteran CFO Jeff Epstein says it's time to make a change if you can't support yourself into 2022. Read the full article ➔
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6-time CFO: Take a 'war room' approach to crisis management
By Jane Thier • July 19, 2020"When it's a big enough crisis, you treat it differently," said Jeff Laborde, CFO of JAGGAER. Read the full article ➔
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M&A picking up as acquirers, investors gain comfort with COVID-19
By Ted Knutson • July 16, 2020Acquirers' due diligence is evolving because it's harder to use historical data to predict the future, deal advisors say. Read the full article ➔
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Domino's CFO to retire as pizza chain records strong Q2
By Jane Thier • July 16, 2020The Ann Arbor, Michigan-based pizza delivery chain shared surging sales and the retirement of its 20-year CFO on its earnings call Thursday. Read the full article ➔
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Bessemer finance leader: 'CFOs should be raising capital right now'
By Robert Freedman • July 15, 2020Investors are looking for deals despite COVID-19's impact, Jeff Epstein of Bessemer Venture Partners says. Read the full article ➔
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Your financial controls probably don't work under today's conditions
By Robert Freedman • July 14, 2020With staff remote, executives in survival mode, and hundreds of billions in assistance pouring into the economy, the chances of mistakes and abuse getting past safeguards are heightened, accounting specialists say. Read the full article ➔
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A/P automation CFO: Pandemic stress falls hard on finance teams
By Jane Thier • July 14, 2020Two-thirds of finance leaders feel enormous coronavirus-related stress, according to a survey conducted by accounts payable automation company AvidXchange. Read the full article ➔
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New bankruptcy process a 'game-changer' for COVID-hit small businesses
By Robert Freedman • July 13, 2020Subsection 5 favors owners keeping their equity through a quicker and cheaper reorganization than exists under regular Chapter 11 rules. Read the full article ➔
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'Bonus depreciation' rule fix makes property improvements more attractive
By Ed McCarthy • July 12, 2020Companies have a new tax incentive to remodel property post-COVID now that qualified improvement property can receive the 15-year recovery treatment, with retroactive relief available. Read the full article ➔
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Harley-Davidson CFO resigns amid mass layoffs, restructuring
By Jane Thier • July 9, 2020John Olin, who has headed the motorcycle manufacturer's finance for 17 years, will be replaced on an interim basis by the company's treasurer as it searches for a permanent replacement. Read the full article ➔
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Stock sales hit record as companies buffer balance sheets
By Robert Freedman • July 9, 2020The equity market remains resilient as investors snap up stocks at a discount. Read the full article ➔
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Impossible Foods CFO: Converting 'hypergrowth' into long-term sustainability
By Jane Thier • July 7, 2020According to David Lee, grocery demand for fresh or frozen plant-based meats surged 300% in March, while store sales of Impossible Burger have more than doubled every month since April. Read the full article ➔
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Pandemic exposes need to automate finance function amid limited resources
By Robert Freedman • July 7, 2020Finance automation has been practical for most organizations for 20 years, but only about 5% are fully vested so far. Read the full article ➔
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Survey: 94% of CFOs to change risk strategy, post-COVID-19
By Jane Thier • July 5, 2020As the coronavirus pandemic brings risk and credit challenges to the forefront, CFOs are redoing their original plans, credit insurance company Euler Hermes found. Read the full article ➔
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Pandemic planning: The CFO's role translating vision into strategy, execution
By Jason Maynard • July 5, 2020In today's environment, is it better to bundle a value-added service or to discount heavily to keep income up? This is the kind of question CFOs must answer to keep their companies nimble. Read the full article ➔
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What's your COVID-19 story?
By Jane Thier • June 30, 2020When discussing 2020 plans with investors, Eric Knachel, Deloitte senior consultation partner, recommends figuring out your company's story to connect with stakeholders. Read the full article ➔
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How COVID-19 is changing conversations about going concern
By Bob Dohrer • June 30, 2020CFOs should expect more — and more targeted — questions as auditors try to get a picture of how well their organization is positioned to survive the downturn. Read the full article ➔
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Companies turn to convertible bonds to raise cash
By Ted Knutson • June 29, 2020The pandemic has led to a surge in use of the hybrid security, but it comes with risk. Read the full article ➔
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Deloitte survey reveals equal parts pessimism, optimism among Fortune 500 CFOs
By Jane Thier • June 29, 2020Deloitte's latest quarterly CFO Pulse Survey found CFOs of large companies expressing renewed confidence in their ability to adapt, but great pessimism about the U.S. economy's rebound. Read the full article ➔
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How often should CFOs speak with the board?
By Jane Thier • June 27, 2020Planful CEO Grant Halloran recommends CFOs update their company's board several times a week as financial planning becomes all the more fraught. Read the full article ➔
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Will closing the books this quarter be harder than last?
By Jane Thier • June 25, 2020Omar Choucair, CFO of financial close software provider Trintech, knows why his clients are struggling and how they can mitigate the difficulties. Read the full article ➔
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Verizon CFO welcomed external advice for pandemic scenario planning
By Robert Freedman • June 25, 2020When COVID-19 hit, Matt Ellis consulted outside experts to help ensure his FP&A team's assumptions about going forward were realistic. Read the full article ➔
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A CFO's 3-step plan for remaining profitable during COVID-19
By Jane Thier • June 24, 2020LendingUSA's Ron Oertell says his company's services as a point-of-sale fintech are greater now than they were, pre-pandemic. Read the full article ➔
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When should you revisit your pricing strategy?
By Jane Thier • June 23, 2020Tom Fencl, CFO of Pricefx, believes a CFO's price strategy can make or break a business. Read the full article ➔
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3-time CFO: Pandemic will add to CFO duties
By Jane Thier • June 21, 2020Long-time CFO Paula Bachman told CFO Dive the dissolving COO role, combined with the financial upset caused by coronavirus, will lead to a longer list of responsibilities for CFOs going forward. Read the full article ➔
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Feds issue streamlined PPP loan forgiveness form
By Robert Freedman • June 18, 2020Under an EZ form, you only have to complete a brief calculation and certify your representations to get out of repaying your payroll protection assistance. Read the full article ➔
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Comcast CFO expects continued losses in 2nd quarter
By Jane Thier • June 18, 2020CFO Mike Cavanagh told investors to expect continued losses for the parent company of NBC Universal and Xfinity, as digital subscriber numbers plummet and theme parks and movie theaters remain shuttered. Read the full article ➔
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When the CFO departs, who steps up?
By Jane Thier • June 18, 2020Every company needs an established talent pipeline to fill the gap when its CFO leaves. But new research from CFO Dive finds that the role — and the way it is filled — is evolving. Read the full article ➔
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5 transfer pricing actions to consider during COVID-19
By Barry Freeman and Selena Schneider • June 16, 2020If your intercompany pricing policies are based on normally functioning markets, you could be faced with tax inefficiencies and distortion in how you allocate profits or losses. Read the full article ➔
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How companies can account for PPP loans under FASB ASC 470
By Robert Freedman • June 15, 2020FASB hasn't explained how for-profit businesses should recognize forgivable loans and other government assistance, but other standards are available. Read the full article ➔
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CFOs must balance innovation with frugality, surveys confirm
By Jane Thier • June 15, 2020As companies begin executing their return-to-work plans, CFOs are tasked with a daunting double-mission: investing in necessary innovation, while also enforcing across-the-board frugality. Read the full article ➔
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Wells Fargo CFO predicts drop in net interest income, layoffs in 2020
By Jane Thier • June 14, 2020In an appearance at Morgan Stanley Virtual U.S. Financials Conference Wednesday, CFO John Shrewsberry discussed the bank's second quarter earnings and plans for maintaining profitability throughout 2020. Read the full article ➔
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Scenario planning helped School of Rock go virtual in 12 days
By Robert Freedman • June 11, 2020Just before mandatory shutdowns disrupted its business model, CFO John Cappadona built School of Rock's FP&A function. Read the full article ➔
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Fed set to launch Main Street Lending Program for loans up to $300M
By Robert Freedman • June 9, 2020Large and flexible loans will be available as the Fed gets into the business of direct lending to help companies retool as stay-at-home-mandates phase out. Read the full article ➔
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3 Imperatives for CFO leadership, mid-recession
By Jane Thier • June 9, 2020As the economy fluctuates, CFO of tech startup Clari stresses the importance of KPIs, keeping the board in the loop and fine-tuning a liquidity plan. Read the full article ➔
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CFO in the Know: Bright spots for biopharma IPOs, but COVID-19 still lurks
By Ted Knutson • June 8, 2020The pandemic has helped the atmosphere for biopharma IPOs by changing the focus of drugs from the downside of their pricing to the benefits they offer of better diagnostics and potential cures. Read the full article ➔
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PPP loans now only require 60% of funds to be used for payroll
By Robert Freedman • June 5, 2020The federal government enacted several sought-after changes to make the small loan program more useful to businesses as mandatory closures ease. Read the full article ➔
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AICPA Survey: Finance leaders most pessimistic since Great Recession
By Jane Thier • June 7, 2020As the coronavirus pandemic rages on, CFOs, CEOs and controllers are becoming less and less confident in economic recovery and business growth over the next 12 months, a new survey finds. Read the full article ➔
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A lesson in fiscal discipline from Chipotle's CFO
By Jane Thier • June 4, 2020Chipotle has maintained its long-term vitality as the pandemic forces countless competitors to close their doors. CFO Jack Hartung shares how the company does it. Read the full article ➔
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CFOs positioned to lead supply chain retooling as economic slowdown abates
By Jane Thier • June 4, 2020It’s not enough to find one or two cheaper suppliers. Global disruptions show the need for an integrated overhaul of supply chains, a specialist in the field says. Read the full article ➔
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Senate approves PPP's loosened payroll rule, spending period
By Dan Ennis • June 4, 2020Despite unanimous consent, some senators still had reservations. Unlike the current program, the latest bill doesn't appear to give partial loan forgiveness if a recipient uses less than the payroll threshold, said Sen. Susan Collins, R-ME. Read the full article ➔
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For SaaS CFO, success is seeing everything through FP&A lens
By Robert Freedman • June 3, 2020Computational functions are best left to software systems, allowing finance staff to focus on the meaning behind the numbers, tech CFO John Bonney says. Read the full article ➔
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Hospitality CFO cites safety, scenario planning as keys for keeping hotels open
By Jane Thier • June 3, 2020As hotels across the globe shutter in response to the pandemic, Peter Habelitz, CFO of Dutch hotel management giant Cycas Hospitality, has managed to keep his Marriott, Hyatt, and IHG properties near-fully operational. Read the full article ➔
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Unpacking the cloud with Zuora's new CFO
By Jane Thier • June 2, 2020Todd McElhatton spoke with CFO Dive about his priorities and the future of cloud-based software for finance teams. Read the full article ➔
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Fed's TALF program opens this month to loosen credit markets
By Robert Freedman • June 2, 2020The first subscription round opens June 17, signaling the start of the government's effort to attract investors to securities backed by strategically targeted assets. Read the full article ➔
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Survey: 9 Traits for performance-driving CFOs amid pandemic
By Jane Thier • June 1, 2020Taking riskier bets, knowing when to cut losses, and developing a customer theory top the list of key CFO attributes in the latest Gartner survey. Read the full article ➔
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Sec. 363 bankruptcy sales may yield higher prices than Chapter 11
By Robert Freedman • June 1, 2020The process is less familiar than Chapter 11 but can result in quicker sales and more proceeds to secured creditors. Read the full article ➔
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Fast CFO action equipped residential builder to survive downturn
By Robert Freedman • May 31, 2020Putting land deals on hiatus, improving cash visibility and understanding buyer concerns has helped the finance chief of Meritage Homes keep the company on an ambitious growth track. Read the full article ➔
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Company culture shines through despite virtual onboarding, new CFO says
By Jane Thier • May 29, 2020All CFOs place strong demands on their team members in the normal course of business, new Park Place Technologies CFO Andrew Gehrlein told CFO Dive, but willl appreciate flexibility and concern when things finally return to normal. Read the full article ➔
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CARES Act tax breaks are great — unless they're not
By Robert Freedman • May 28, 2020The new retention credit, payroll tax deferral, and expansion of net operating losses, among other tax assistance to help during the slowdown, might not sync with your company's financial situation. Read the full article ➔
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Insurers propose pandemic assistance plan
By Robert Freedman • May 26, 2020Federal money, not business interruption insurance, is the appropriate response to a pandemic, property and casualty carriers say. Read the full article ➔
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How are CFOs revamping their scenario plans?
By Jane Thier • May 26, 2020The pandemic has forced CFOs to reevaluate their approach and account for a wider range of possible outcomes. Read the full article ➔
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Need and eligibility keys to avoiding PPP loan liability risk
By Robert Freedman • May 25, 2020Document what goes into your decision to apply for a loan to protect yourself and your company if you're hit with an audit or lawsuit, an attorney says. Read the full article ➔
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Is the CFO an organization's conscience?
By Jane Thier • May 25, 2020At this critical juncture, CFOs are prized if they can move their company from financial rigidity to empathy. Read the full article ➔
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As going-concern opinions rise, so too could debt covenant defaults
By Robert Freedman • May 21, 2020Audits that question the likelihood of a company's survival during the downturn could inadvertently cause a breach in credit terms. Read the full article ➔
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CFOs urged to employ blend-and-extend occupancy strategy
By Robert Freedman • May 20, 2020As stay-at-home mandates lift, companies that can keep employees at home are in a good position to negotiate lower rents on downsized space. Read the full article ➔
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New CFO-COO: Pandemic presents transformation opportunity for chief finance role
By Jane Thier • May 20, 2020"If you don’t think there’s an opportunity now to completely transform your business' financial health, you’re probably missing something," Brian Meewes, new CFO-COO of healthcare tech company OODA Health, told CFO Dive. Read the full article ➔
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Liquidity, forecasting essential for CFOs, mid-crisis
By Jane Thier • May 17, 2020As Omar Choucair, CFO of SaaS company Trintech, helps his clients manage the downturn, he urges CFOs to remain open to expanding their duties. Read the full article ➔
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New CFO's pandemic guidelines: Planning, planning, and more planning.
By Jane Thier • May 18, 2020Burke became CFO of Life360 last week without shaking the CEO's hand or meeting the finance team, but he has a plan to get a handle on the startup's finances from a far distance, he told CFO Dive. Read the full article ➔
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SEC charges companies for making false COVID-19 claims
By Robert Freedman • May 17, 2020The actions signal a stepped-up federal effort to curb marketing ploys playing on fears of infection. Read the full article ➔
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Timing of stimulus tax deferral payback could cause liquidity crunch
By Robert Freedman • May 14, 2020Companies can expect to take a liquidity hit in 2021 and 2022, when payroll tax deferrals come due. Read the full article ➔
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Sony CFO: 'We're concerned this might continue for a long time'
By Jane Thier • May 14, 2020The company reported an 86% plunge in quarterly net profit this year, but its CFO said, even amid operating losses, "with a high degree of financial discipline," it can still manage an effective balance sheet. Read the full article ➔
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CFO collaboration with CIO is crucial amid COVID-19
By Tony Tricarichi • May 13, 2020The CFO is adept at measuring costs, managing the balance sheet and navigating murky waters. But determining capabilities and staying ahead of tech trends requires partnership with the CIO. Read the full article ➔
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Small-business specialist sees coronavirus crisis as way to help customers, retool financially
By Robert Freedman • May 13, 2020The CFO of payroll software provider Gusto sees the downturn as an opportunity to reevaluate costs, vendor relations and investment choices. Read the full article ➔
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Survey: CFOs hopeful, employees wary, 2 months into pandemic
By Jane Thier • May 12, 2020While CFOs are growing increasingly optimistic about their business' adaptability and ability to recover, employees remain uncertain, a new PwC survey finds. Read the full article ➔
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IRS: Business expenses not deductible under PPP loans
By Robert Freedman • May 12, 2020The chairs of the House and Senate tax-writing committees are expected to challenge the IRS' interpretation of the program to help small businesses survive the pandemic. Read the full article ➔
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Survey: Amid ongoing disruption, CFOs double down on cutting jobs
By Jane Thier • May 11, 2020CFOs are cutting real estate spend, sales reward trips, social media marketing and service provider contracts, expecting they are unlikely to return to previous funding levels once revenues rebound, a new Gartner survey shows. Read the full article ➔
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Study: COVID-19 cost cuts may damage CFOs' long-term growth prospects
By Jane Thier • May 6, 2020As the coronavirus pandemic lingers, CFOs who prioritize long-term growth over short-term cost cuts help their companies prevail relative to their peers, a longitudinal study from Gartner Finance found. Read the full article ➔
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Tyson Foods CFO: Despite continued losses, long-term outlook remains positive
By Jane Thier • May 5, 2020Tyson Foods shared its disappointing profit figures in its Q2 earnings call, but stressed continued optimism as more customers purchase their pork, beef and chicken products in non-restaurant settings. Read the full article ➔
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Ahead of workers' strike, Amazon CFO calls first quarter 'gut-wrenching'
By Jane Thier • May 4, 2020On an earnings call one day before the International Worker's Day walkout, CFO Brian Olsavsky commended Amazon employees, but neglected to comment on the policies they are protesting. Read the full article ➔
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75% payroll rule makes PPP loans useless, business owners say
By Robert Freedman • May 3, 2020Small business owners need help with operational costs, which the government's program fails to cover without risking loan forgiveness. Read the full article ➔
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Fed expands Main Street program, cuts loan threshold by half
By Anna Hrushka • May 1, 2020The central bank is including larger companies, but some small-business advocates and industry leaders say the $500,000 minimum loan is still too high. Read the full article ➔
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Goodwill impairment testing during COVID-19 times
By Suzanne Northington • April 30, 2020Economic uncertainty is forcing finance chiefs to rethink the impairment testing process. Read the full article ➔
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Ford Motor CFO stresses 'maximizing liquidity' amid Q2's $5B operating loss
By Jane Thier • April 30, 2020CFO Timothy Stone announced a loss figure twice as large as analysts expected on the auto company's latest earnings call, but believes the company has the cash it needs for 2020. Read the full article ➔
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How a fintech CFO preserves long-term ambition through cost-cutting amid pandemic
By Jane Thier • April 29, 2020As the coronavirus pandemic brings fast-growing startup culture to its knees, fintech CFO Catherine Birkett advises balancing long-term ambition with near-term KPIs. Read the full article ➔
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CFOs cautioned on post-lockdown tort risk
By Robert Freedman • April 29, 2020Plaintiff attorneys face a high bar to show someone contracted COVID-19 after workspaces reopen, but defending against their claims is expensive. Read the full article ➔
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Switching FP&A focus from growth to survival
By Robert Freedman • April 28, 2020How companies are charting their financial path when many of the old assumptions have been thrown out the door. Read the full article ➔
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Survey: 42% of CFOs lack contingency plans for a 2nd COVID-19 wave
By Jane Thier • April 28, 2020A second wave could mean another drop in customer demand that CFOs' revenue and profit models won't capture, a Gartner Finance research vice president said. Read the full article ➔
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Survey: As states reopen, CFOs prioritize cost containment, safety measures
By Jane Thier • April 27, 2020CFOs will focus on reducing costs and keeping their workplace safe as stay-at-home mandates lift and employees slowly return to work, a new PwC survey reveals. Read the full article ➔
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6 Guidelines for CFO crisis leadership
By Jane Thier • April 25, 2020Of the entire c-suite, CFOs are best-positioned to guide their companies through the pandemic, CFO Leadership Council President Jack McCullough said. Read the full article ➔
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Tax expert: Maximize operating losses to get most from stimulus
By Robert Freedman • April 23, 2020Carrying back losses under the federal government's pandemic-response rule changes can get your company a bigger tax refund, according to BDO partner Randy Schwartzman. Read the full article ➔
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Chipotle CFO: 'Our worst days have passed'
By Jane Thier • April 23, 2020By revamping its business around online advertisements and free delivery, Chipotle has weathered the pandemic better than many restaurant chains. But what will its dining experience look like next year? Read the full article ➔
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Boeing CFO tapped to lead new enterprise operations group
By Jane Thier • April 22, 2020The group will help get the company back into competitive mode as it restarts commercial airplane operations in Washington State later this week. Read the full article ➔
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How CFOs can lead through the coronavirus crisis — and beyond
By Kevin Dancey • April 22, 2020A focus on people, clear information to stakeholders and long-term value creation can lead your organization through the crisis, the head of the International Federation of Accountants said to finance leaders. Read the full article ➔
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As pandemic eases, expect uptick in tax collection woes
By Robert Freedman • April 21, 2020Online sales might be on the rise, but so are tax obligations for each state in which you have economic nexus. Read the full article ➔
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Annapurna Pictures lays off CFO amid entertainment business freefall
By Jane Thier • April 21, 2020As movie theaters shutter and production halts, entertainment companies are slashing executive pay and laying off mid-level employees. Read the full article ➔
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Harvard CFO: Must cut non-essential spending, despite $41B endowment and stimulus aid
By Jane Thier • April 20, 2020After the Dept. of Education announced Harvard would be receiving $9 million from the CARES Act, many expressed outrage. But that cash may be more vitally needed than appearances suggest, university CFO Thomas J. Hollister said. Read the full article ➔
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Retiring Delta CFO to stay on amid pandemic
By Jane Thier • March 2, 2020In February, Paul Jacobson, Delta's CFO since 2012, announced he would be retiring. Amid the coronavirus pandemic, he today informed his team he would be staying on indefinitely. Read the full article ➔
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Can COVID-19 get you out of a contract as a material adverse change?
By Gary Kleinrichert, Brent Miller • April 15, 2020Whether you can cite the pandemic as a ground for getting out of a contract — or if someone can cite it against you — depends on subtleties of law. Read the full article ➔
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Potbelly, MOD Pizza hire CFOs in show of mid-pandemic optimism
By Jane Thier • April 15, 2020The two fast casual companies have their eyes on the future with the naming of new finance chiefs. MOD Pizza's Josh Guenser shares with CFO Dive how he's balancing his onboarding with crisis planning. Read the full article ➔
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COVID-19 'first real test' of digitization for office of CFO
By Jane Thier • April 14, 2020"All the older stuff was just feel-good," said Genpact's Sanjay Srivastava, as CFOs have to manage significant declines in finance teams' productivity. Read the full article ➔
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Study: Pandemic impact on small companies worsened by Sarbanes-Oxley
By Robert Freedman • April 14, 2020A provision in the 2002 federal law to improve corporate accounting leaves companies reliant on debt at a time when credit markets are wobbling. Read the full article ➔
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Survey: Half of CFOs expect a return to normal by Q3
By Jane Thier • April 13, 2020Only 9% of CFOs surveyed by CFO Magazine expect a sustained recession, with economic activity not picking up until 2022. Read the full article ➔
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CFOs look to credit lines, bond markets for cash
By Robert Freedman • April 13, 2020It’s crunch time for CFOs as they help their companies navigate the downturn. Read the full article ➔
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54% of small business CFOs to slow pay vendors: Gartner
By Jane Thier • April 12, 2020The coronavirus pandemic is drawing a clear divide between large and small business CFOs when it comes to crisis planning and how much cash it will take to stay afloat, the survey found. Read the full article ➔
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Citing pandemic, FASB to delay lease, franchisor standards
By Robert Freedman • April 12, 2020Lease accounting changes for private companies and nonprofits have already been delayed once even though analysts prefer they be treated the same as public companies. Read the full article ➔
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CFOs modeling pandemic outcomes with agility
By Robert Freedman • April 6, 2020To help their companies navigate uncertainties, CFOs are running dozens of models. The operational changes they need to make are much more clear. Read the full article ➔
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Survey: 62% of CFOs to cut selling, administrative budgets
By Jane Thier • April 6, 2020Dialing back on sales force activity is a way to force functional leaders to tighten their belts, but it might hurt in the long-term, Gartner survey findings suggest. Read the full article ➔
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Shutdown-impacted businesses taking PPP loans may risk losing CARES Act tax benefits
By Robert Freedman • April 7, 2020Until rules are out, it's not clear paying expenses with stimulus loan funds will help your business come tax time. Read the full article ➔
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Survey: 3 in 4 CFOs pushing for permanent remote staffing following shutdown
By Jane Thier • April 5, 2020When it comes to creative cost savings, remote work could be key for CFOs looking to avoid severe cuts and downside operational impacts, according to a Gartner survey. Read the full article ➔
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Filing for bankruptcy? Understand your lenders' leverage
By Kenneth Rosen • April 4, 2020No one wants to consider bankruptcy. But as the downturn persists, CFOs will benefit from understanding their lenders' tactical goals. Read the full article ➔
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Two investments to make if revenue plummets
By Robert Freedman • April 5, 2020Real-time data analytics and targeted marketing can help leverage shifting consumption to survive the downturn and prepare for the recovery. Read the full article ➔
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Cheesecake Factory CFO seeks immediate relief; Chipotle CFO says chain can 'last a year'
By Jane Thier • April 2, 2020As the coronavirus pandemic rocks the restaurant industry, chains with established attention to takeout and delivery pull far ahead of traditional sit-down joints. Read the full article ➔
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As the first remote month ends, how are CFOs closing the books?
By Jane Thier • April 1, 2020At the end of March, CFOs, finance teams and auditors were faced with a novel challenge — closing the books without meeting in person. Here's how they're doing it. Read the full article ➔
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PwC: 87% of CFOs fear COVID-19 business impacts
By Jane Thier • March 31, 2020In the two weeks since PricewaterhouseCoopers released its first survey, CFOs' fears about the long-term impacts of the virus have ballooned. Read the full article ➔
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The $2.1T stimulus: What's in it for business?
By Robert Freedman • March 30, 2020The law includes $500 billion for large businesses that can be leveraged into several trillion dollars in loans. Another $350 billion is set aside for forgivable loans to small businesses. Read the full article ➔
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Stimulus bill includes favorable treatment of net operating losses
By Robert Freedman • March 29, 2020Restored advantageous tax carrybacks will help abate the liquidity crunch facing CFOs. Read the full article ➔
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CFO's secret weapon against coronavirus: Scenario planning
By Jane Thier • March 30, 2020Dennis McGonigle, CFO of SEI Investments, has run practices of business interruption and disaster events, including what they’d do in the case of a pandemic, with his company for years. Here's how he's managing COVID-19. Read the full article ➔
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Cash flow is king as CFOs weather coronavirus disruption
By Ted Knutson • March 29, 2020Maximize customer touchpoints based on value, not volume, to bring in the most cash, a consultant advises, as part of a strategy to get through the uncertainties ahead. Read the full article ➔
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General Motors, Boeing CFOs share 'immediate, aggressive' cost-cutting plans
By Jane Thier • March 29, 2020Both the automotive and airline industries are facing enormous challenges amid the coronavirus pandemic, with GM halting production altogether to focus on manufacturing much-needed ventilators. Read the full article ➔
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'CFO resiliency' key to surviving coronavirus crisis
By Jane Thier • March 26, 2020Alok Ajmera, president and COO of financial management software company Prophix, knows exactly what CFOs need to do to get through the pandemic. He breaks it down for CFO Dive. Read the full article ➔
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Gartner: 81% of CFOs to exceed contractual obligations to workers during pandemic
By Jane Thier • March 25, 2020For many CFOs, helping employees is both ethical and future-focused, Dennis Gannon, VP of Gartner's finance practice, told CFO Dive. Read the full article ➔
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Johnson & Johnson CFO: Pandemic may be 'good opportunity to strike deals'
By Jane Thier • March 24, 2020CFO Joseph Wolk said Johnson & Johnson, parent company of Band-Aid, Rogaine and Tylenol, would release earnings guidance next month, even if, due to the unfolding pandemic, that guidance ends up being wrong. Read the full article ➔
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Government trying loans, payments, credit support to curb economic freefall
By Robert Freedman • March 23, 2020An open-ended bond-buying commitment and new credit facilities are added to what would be the most expensive piece of legislation in history if it passes. Read the full article ➔
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Wall Street goes remote as NYC becomes COVID-19 epicenter
By Jane Thier • March 23, 2020While many companies shift to remote work, Wall Street has two large roadblocks: compliance and security. Read the full article ➔
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CFOs can expect indirect benefit from Fed's latest credit facility
By Robert Freedman • March 23, 2020The move gives money market fund managers the confidence to buy or roll over the commercial paper that many companies rely on to cover short-term costs. Read the full article ➔
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Tax Day postponement to July 15 'welcome news' for small business
By Jane Thier • March 20, 2020The U.S. Treasury Secretary announced that, amid the coronavirus' economic impact, Tax Day would be postponed to July 15. But where does that leave small businesses? Read the full article ➔
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Coronavirus impact limited to timing issues so far, LED company CFO says
By Robert Freedman • March 19, 2020The company has taken steps to keep manufacturing on track by disinfecting its facility, but employees uncomfortable with working on site can stay home. Read the full article ➔
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UBS CFO: 'We've experienced very few losses'
By Jane Thier • March 18, 2020Kirt Gardner says the giant Swiss bank will weather the pandemic storm, thanks to its "conservative risk profile, high-quality credit portfolio and relatively limited exposure to highly impacted industries." Read the full article ➔
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Trump's new $1T relief package: Which industries get a slice?
By Jane Thier • March 17, 2020Treasury Secretary Steven Mnuchin pitched the relief package to Senate Republicans. It's the biggest package in U.S. history, but which industries will get access? Read the full article ➔
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Rise in crisis-related employee costs tracks coronavirus outbreak
By Robert Freedman • March 17, 2020CFOs are being flexible on expense policies as employees rack up costs for canceled trips, remote working, face masks and other types of reimbursement requests that were once rare. Read the full article ➔
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Under Armour forecasts up to $60M revenue hit from coronavirus disruptions
By Emma Cosgrove • Feb. 12, 2020The outbreak also puts at risk supply chain improvements that CFO Dave Bergman talked about on the company's fourth quarter earnings call. Read the full article ➔
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Banks tap Fed discount window to signal readiness on credit
By Robert Freedman • March 17, 2020The biggest U.S. banks have been cooperating with each other and with the Federal Reserve to show they'll keep people and companies liquid should the economy worsen. Read the full article ➔
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Slack, Zoom CFOs stay realistic as coronavirus spotlights remote work
By Jane Thier • March 16, 2020With most of the country transitioning to remote work, video conferencing tool Zoom and instant messenger Slack are exploding in popularity. But their CFOs aren't quick to assume that it will have long-term benefits. Read the full article ➔
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CFOs confident going into coronavirus outbreak, survey finds
By Robert Freedman • March 16, 2020Thanks to the digital transformation of operations and a strong financial environment, CFOs think they're relatively well-prepared for COVID-19. But a global recession poses a real concern. Read the full article ➔
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Markets drop despite Fed weekend rate cut on coronavirus
By Robert Freedman • March 16, 2020Stock trading had to be halted for the third time in recent weeks as pessimism over the government's coronavirus response overshadowed the Federal Reserve's latest monetary move. Read the full article ➔
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Report: House scales back coronavirus leave bill, sends revisions to Senate
By Kate Tornone • March 14, 2020The bill also would temporarily amend the FMLA, creating protections for leave related to the new coronavirus for some employees. Read the full article ➔
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Major US banks halt share buybacks in response to coronavirus pandemic
By Anna Hrushka • March 16, 2020The forum called the COVID-19 pandemic “an unprecedented challenge for the world and the global economy,” and said the U.S.’s largest banks have an “unquestioned ability and commitment” to support the nation. Read the full article ➔
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Cloud is differentiator as CFOs grapple with coronavirus impact
By Suzanne Northington • March 12, 2020Unlike in the aftermath of the Sept. 11 attacks, when some lockdowns were imposed, CFOs today can organize their teams to operate remotely. Read the full article ➔
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How cruise line and ski resort CFOs protect cash flow
By Jane Thier • March 15, 2020Every industry is feeling the impacts of the global pandemic, but for CFOs of particularly vulnerable industries, planning is key. Read the full article ➔
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'Real negative shock' to come after coronavirus, economics professor says
By Jane Thier • March 11, 2020After WHO declared COVID-19 a pandemic, Joseph Haslag, head of University of Missouri's Economic Policy Analysis and Research Center, told CFO Dive what he thinks is on the horizon for the U.S. economy. Read the full article ➔
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Coronavirus to trigger corporate debt crisis, some analysts say
By Robert Freedman • March 12, 2020Since the 2008 downturn, companies have loaded up on cheap debt to fuel growth. Now they might face a reckoning if today's downturn leaves them struggling to repay. Read the full article ➔
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As coronavirus persists, CFOs' hedging strategies are key
By Robert Freedman • March 13, 2020Companies with even minimal global exposure should prepare to make a currency play if the dollar remains volatile. Read the full article ➔
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Most companies taking 'wait-and-see' approach to coronavirus
By Jane Thier • March 10, 2020Two studies released this week show companies are becoming more apprehensive about coronavirus' impact on business performance. But can their risk management teams mitigate what's to come? Read the full article ➔
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Target CFO remains confident amid coronavirus threat to retail
By Jane Thier • March 9, 2020The virus' spread is upending supply chain operations across the globe, but Target's new CFO retains "a ton of confidence" in its forward-facing strategy. Read the full article ➔
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Economists still expect US to eke out slow growth this year
By Robert Freedman • March 9, 2020If domestic consumer spending holds up, the country can stay in positive growth mode, economists from forecasting firm Prevedere say. Read the full article ➔
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How one Bay Area CFO is managing coronavirus concerns
By Jane Thier • March 7, 2020Despite confirmed coronavirus cases in the California Bay Area, Mohit Daswani, CFO of ThoughtSpot, has a plan in place to keep his company calm. Read the full article ➔
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SEC gives companies extra 45 days for reporting amid coronavirus uncertainty
By Robert Freedman • March 5, 2020By the end of April, companies must summarize why the outbreak is keeping them from filing public disclosures. Read the full article ➔