nCino cuts 7% of workforce, CFO departs

nCino and Microsoft are the latest tech firms to announce layoffs. The sector has been hit by declining sales for PCs and software, plummeting valuations and high inflation.

By Grace Noto • Jan. 19, 2023

3 reasons to make accounts receivable a top priority

Unpaid invoices take a nasty bite out of cash flow. Dean Kaplan writes that taking time early on to evaluate receivables and stratify accounts for fast attention will pay off.

By Dean Kaplan • Jan. 18, 2023

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CFO best practices in the evolving generative AI era

As the initial frenzy around the launch of generative artificial intelligence subsides, a new GenAI era appears to be taking shape.

By CFO Dive staff

SEC aims to set climate risk, cybersecurity rules before May

The agency, laying out an ambitious agenda, aims in early 2023 to complete several new regulations, many of them focused on increasing disclosures for investors.

By Jim Tyson • Jan. 17, 2023

Wendy’s US CFO resigns amid shake-up

The Dublin, Ohio-based hamburger chain is losing its U.S. CFO to another restaurant company as Wendy’s redesigns its organizational structure to pursue a long-term growth strategy. 

By Elizabeth Flood • Jan. 17, 2023

‘Scope creep’ challenging audit committees: CAQ

Audit committees are taking on more responsibilities as the SEC writes several rules requiring more detailed corporate disclosure.

By Jim Tyson • Jan. 13, 2023

Ex-CFO of email security firm pleads guilty in $50M fraud scheme

The former CFO of GigaTrust faces a maximum sentence of five years in prison for his role in a conspiracy to defraud investors and lenders, including by fabricating bank statements.

By Alexei Alexis • Jan. 13, 2023

Pension funding holds flat, higher costs loom

Pension and retirement plans can be a key benefit that helps employers attract and retain workers. They may carry higher costs for companies in 2023.

By Dawn Wotapka • Jan. 12, 2023

FASB decides to require expense disclosures

For investors, the new income statement disclosure project is the FASB’s most important initiative “by a factor of ten,” one board member said. But it will mean added costs for companies. 

By Maura Webber Sadovi • Jan. 11, 2023

Alcoa taps controller for CFO

Alcoa’s controller will move to its CFO seat among an executive restructuring plan designed to help the company focus more deeply on cost and innovation.  

By Grace Noto • Jan. 11, 2023

EY consulting arm poaches Cargill CFO

Ernst & Young is moving forward with a “soft separation” of its audit and consulting arms, appointing Jamie Miller to the CFO seat of what will be a new public entity.

By Elizabeth Flood • Jan. 11, 2023

Bed Bath & Beyond doubles down on cuts, layoffs

The absence of the retailer’s interim CFO from Tuesday’s earnings call could signal that a bankruptcy filing or sale is imminent.

By Maura Webber Sadovi • Jan. 10, 2023

Trump ex-CFO sentenced to five months for tax fraud

The sentencing comes about one month after a jury convicted two Trump Organization affiliates of tax fraud and other crimes. The company’s former CFO testified for the prosecution during the trial.

By Grace Noto • Jan. 10, 2023

FASB continues push for corporate expense disclosures

As the FASB kicks off its first meeting of the new year Wednesday, the U.S. standard setter faces external pressure to step up the pace of its process. 

By Maura Webber Sadovi • Jan. 9, 2023

Walgreens may have ‘cried too much’ about theft, CFO says

Walgreens may reconsider its security approach as shrinkage stabilizes, CFO James Kehoe said during the company’s first quarter 2023 earnings call.  

By Grace Noto • Jan. 9, 2023

Comcast insider steps into CFO role

The Philadelphia-based telecommunications company promoted from within as the company faces a shrinking viewership base.

By Elizabeth Flood • Jan. 9, 2023

4 CFO trends to watch in 2023

Fed efforts to curb inflation, an imbalance in the demand and supply of workers and clarification of accounting standards are among the CFO trends this year.

By Jim Tyson , Maura Webber Sadovi • Jan. 6, 2023

Stitch Fix latest tech firm to cut workforce

The online personal styling service announced it will reduce its workforce by about 20% in a company-wide memo from founder Katrina Lake.

By Elizabeth Flood • Jan. 5, 2023

Invest in investor relations, former Cameo CFO says

In order for companies to position themselves for a successful IPO, focusing on IR teams early  is key, according to Deb Schwartz.

By Elizabeth Flood • Jan. 5, 2023

Bed Bath & Beyond warns options include bankruptcy

The Union, N.J.-based company has faced a range of external and internal challenges stemming in part from inventory constraints, credit limits and the death of its CFO in September.

By Maura Webber Sadovi • Jan. 5, 2023

Stock buyback tax looms over SPACs

The new 1% excise tax on share buybacks —  effective Jan. 1 —  threatens to ding special purpose acquisition companies as the SPAC market has all but dried up.

By Maura Webber Sadovi • Jan. 4, 2023

SEC charges ex-CFO at gold mining SPAC with $5M fraud

The embezzlement allegations follow the collapse of the SPAC market in 2022 and sharper SEC scrutiny of the so-called blank check companies.

By Jim Tyson • Jan. 4, 2023

Digital Realty promotes exec to CFO seat

Digital Realty’s Matt Mercier will take the CFO seat as its former financial head moves to the CEO role.

By Elizabeth Flood • Jan. 4, 2023

Salesforce to cut 10% of workforce, trim real estate

The software provider will incur between $1.4 billion and $2.1 billion in charges as it moves to pare down its workforce and real estate footprint.

By Grace Noto • Jan. 4, 2023

IRS delivers ‘crucial guidance’ on 15% minimum tax

The interim guidance gives tax preparers some key directions for interpreting the 15% Corporate Alternative Minimum Tax. But more questions remain, experts say.

By Maura Webber Sadovi • Jan. 3, 2023

SEC commissioner opposes ‘ballooning’ PCAOB budget

The PCAOB has stirred up criticism since SEC Chair Gary Gensler shook up its leadership and called for sharper regulation of the firms that audit public companies.

By Jim Tyson • Jan. 3, 2023