Chipotle CFO: Restaurant closures have had 'no impact' on sales

Digital sales are up 200% from last year, helping to keep Chipotle on top, CFO Jack Hartung said.

By Jane Thier • July 26, 2020

Ally Financial CFO: Q2 performance 'stronger than anticipated' after 58% earnings drop

Despite unknowns in the current economic environment, "stimuli support programs and proactive customer engagement actions have driven encouraging trends," CFO Jennifer LaClair said.

By Jane Thier • July 20, 2020

Explore the Trendline➔

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

Domino's CFO to retire as pizza chain records strong Q2

The Ann Arbor, Michigan-based pizza delivery chain shared surging sales and the retirement of its 20-year CFO on its earnings call Thursday. 

By Jane Thier • July 16, 2020

Your financial controls probably don't work under today's conditions

With 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.

By Robert Freedman • July 14, 2020

Alexion pharma settles SEC false books charges

Subsidiaries of the company allegedly paid foreign government officials to provide favorable regulatory treatment for, and falsified records about, one of its drugs. 

By Robert Freedman • July 5, 2020

What's your COVID-19 story?

When discussing 2020 plans with investors, Eric Knachel, Deloitte senior consultation partner, recommends figuring out your company's story to connect with stakeholders.

By Jane Thier • June 30, 2020

Trading platform equips SaaS companies to sell subscriptions to investors

L.A.-based start-up Pipe says it provides software firms with an alternative to equity and debt by treating annualized customer contracts as tradable assets.

By Robert Freedman • June 30, 2020

How COVID-19 is changing conversations about going concern

CFOs 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. 

By Bob Dohrer • June 30, 2020

Novartis to pay $112M fine for bad accounting controls

Company subsidiaries used improper payments to boost business in some countries. 

By Robert Freedman • June 26, 2020

CFOs can access extra cash in move to new lease accounting rules

FASB is delaying the move to ASC 842 but, if you need money, the transition could provide it in some of the lease terms.   

By Robert Freedman • June 22, 2020

Comcast CFO expects continued losses in 2nd quarter

CFO 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.

By Jane Thier • June 18, 2020

How companies can account for PPP loans under FASB ASC 470

FASB hasn't explained how for-profit businesses should recognize forgivable loans and other government assistance, but other standards are available.

By Robert Freedman • June 15, 2020

Wells Fargo CFO predicts drop in net interest income, layoffs in 2020

In 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.

By Jane Thier • June 14, 2020

How are CFOs revamping their scenario plans?

The pandemic has forced CFOs to reevaluate their approach and account for a wider range of possible outcomes.

By Jane Thier • May 26, 2020

Macy's names new CFO amid expected $1B operating loss

As the embattled retailer wraps up its disappointing first quarter, it named controller Felicia Williams interim CFO, replacing Paula Price, who had been in the role for less than two years.

By Jane Thier • May 21, 2020

Delay in lease, revenue recognition rules made official

A one-year delay in new standards mainly affects private companies and nonprofits that haven't yet put them in place. 

By Robert Freedman • May 21, 2020

CFOs urged to buy back debt if it is trading below par value

Credit market dislocations make now a potentially good time to deleverage balance sheets.

By Robert Freedman • May 18, 2020

Growing value by stewarding company reputation

CFOs who take a hands-on approach to managing their company’s reputational value send market signals that lead to improved equity and debt pricing. 

By Nir Kossovsky • May 18, 2020

Tyson Foods CFO: Despite continued losses, long-term outlook remains positive

Tyson 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.

By Jane Thier • May 5, 2020

Goodwill impairment testing during COVID-19 times

Economic uncertainty is forcing finance chiefs to rethink the impairment testing process.

By Suzanne Northington • April 30, 2020

Citing pandemic, FASB to delay lease, franchisor standards

Lease accounting changes for private companies and nonprofits have already been delayed once even though analysts prefer they be treated the same as public companies.

By Robert Freedman • April 12, 2020

Cheesecake Factory CFO seeks immediate relief; Chipotle CFO says chain can 'last a year'

As the coronavirus pandemic rocks the restaurant industry, chains with established attention to takeout and delivery pull far ahead of traditional sit-down joints. 

By Jane Thier • April 2, 2020

As the first remote month ends, how are CFOs closing the books?

At 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.

By Jane Thier • April 1, 2020

Johnson & Johnson CFO: Pandemic may be 'good opportunity to strike deals'

CFO 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.

By Jane Thier • March 24, 2020

FDIC chair asks FASB to waive credit-loss rule

Banks dealing with credit market upheavals as a result of the pandemic shouldn't have to adjust to sweeping changes in loss allowances right now, the regulator says.

By Robert Freedman • March 24, 2020