Financial Reporting: Page 6
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Chris Hondros via Getty Images
News Corp’s new CFO to receive $2.6M one-time equity bonus
Lavanya Chandrashekar, 52, most recently CFO of beverage company Diageo, will replace Susan Panuccio, who has held News Corp’s finance reins since 2017.
By Maura Webber Sadovi • Nov. 8, 2024 -
Scott Olson via Getty Images
Fed cuts rate by quarter point, sees ‘balanced’ risks to inflation, jobs
The reduction in borrowing costs comes just two days after Donald Trump won a second term as president, heralding likely economic policy shifts that may fuel inflation.
By Jim Tyson • Nov. 7, 2024 -
Explore the Trendline➔
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TrendlineCFO 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 -
Courtesy of ADM
ADM reveals more accounting errors, cancels earnings call
The global grain trader’s accounting practices and internal controls have been under scrutiny since January when it revealed an internal probe was underway.
By Maura Webber Sadovi • Nov. 5, 2024 -
Khanchit Khirisutchalual via Getty Images
ServiceNow CFO eyes AI agents following robust Q3
The SaaS provider is looking to bring AI agents to its customer and IT service segments after reporting $2.7 billion in subscription revenues, driven in part by AI adoption, its CFO said.
By Grace Noto • Nov. 5, 2024 -
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Deep DiveElection 2024: Harris, Trump present ‘diametrically opposed’ impacts on ESG
“A Harris administration would be more favorable for the interests of ESG investors whereas a Trump administration would be antagonistic,” according to Morningstar Indexes’ head of strategy.
By Lamar Johnson , Zoya Mirza • Nov. 5, 2024 -
NicoElNino
Internal auditors, CFOs should share the AI disruption risk: IIA CEO
As AI further complicates a tricky risk environment, CFOs and internal auditors need to reach a strategic alignment, IIA’s Anthony Pugliese said.
By Grace Noto • Nov. 4, 2024 -
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FASB issues new, long-anticipated income statement expense rules
Compliance with the standards update “isn’t going to be cheap” for many firms, but the FASB has taken steps to reduce the cost to preparers, board member Fred Cannon said.
By Maura Webber Sadovi • Nov. 4, 2024 -
Justin Sullivan via Getty Images
Meta CFO: AI poised to drive ‘significant’ capex growth
The tech giant’s stock price fell after its third-quarter earnings report, as the company faces growing Wall Street angst over its ballooning AI expenditures.
By Alexei Alexis • Oct. 31, 2024 -
Michael M. Santiago via Getty Images
Alphabet CFO looks to ‘push a little further’ on efficiencies, cost
Anat Ashkenazi is prioritizing cost reductions, even as the company expects to invest $13 billion next quarter in GenAI and other growth areas.
By Grace Noto • Oct. 30, 2024 -
mfto via Getty Images
FASB publishes narrow software accounting revamp proposal
In June the FASB voted 7-0 for the more targeted update, even as some expressed concerns about not going far enough to modernize GAAP rules.
By Maura Webber Sadovi • Oct. 29, 2024 -
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Shutterstock promotes former Getty Images CFO to finance chief
Getty alum Rik Powell will move to Shutterstock's top financial seat as it focuses on continuing to improve revenues for its content segment.
By Grace Noto • Oct. 29, 2024 -
Lanier via Getty Images
$816M ExxonMobil verdict is latest as juries seek environmental justice
No easing is in sight as companies face backlash for the impact their products have on the environment and public safety, a ruling shows.
By Jennifer Paley • Oct. 28, 2024 -
Kevork Djansezian via Getty Images
Tesla earnings rise on energy storage surge
The EV maker remains focused on offering “extremely compelling” vehicle financing as demand in the overall industry continues to wane, Tesla CFO Vaibhav Taneja said.
By Grace Noto • Oct. 25, 2024 -
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Southwest details board travel perks as ex-Chevron CFO joins new director slate
The airline's board compensation package includes free travel on Southwest for each non-employee director, their spouse and children and 50 “unrestricted” one-way flight passes annually.
By Maura Webber Sadovi • Oct. 25, 2024 -
Justin Sullivan via Getty Images
Honeywell sales fall short amid warehouse automation weakness
“We navigated through a challenging operational environment in the third quarter,” CFO Greg Lewis said.
By Alexei Alexis • Oct. 24, 2024 -
Fahroni via Getty Images
Most finance leaders believe sustainability targets out of reach: EY
CFOs leading companies active in the U.S. and Europe face a “fluid picture” when attempting to meet regulations for sustainability reporting, EY said.
By Jim Tyson • Oct. 23, 2024 -
Brandon Bell via Getty Images
Red Lobster names Checkers alum CFO after Chapter 11 restructuring
Bob Baker brings more than three decades of restaurant industry experience to his new position, having held finance chief roles at Checkers & Rally, Benihana, Pieology Pizzeria, and Café Rio Mexican Grill.
By Grace Noto • Oct. 23, 2024 -
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AICPA asks IRS for fresh cannabis tax guidance
The potential reclassification of marijuana as a Class III controlled substance has raised questions about tax benefits cannabis companies stand to gain.
By Maura Webber Sadovi • Oct. 22, 2024 -
qingwa via Getty Images
SEC settles charges with 4 firms it says downplayed SolarWinds hack exposure
The agency alleged Unisys, Avaya, Check Point Software and Mimecast misled investors about the extent of their respective cyber risks.
By David Jones • Oct. 22, 2024 -
Courtesy of FASB
FASB advances credit loss accounting relief for private firms
The credit loss rules grew out of the financial crisis and the concern that banks were delaying recognizing deteriorating asset values.
By Maura Webber Sadovi • Oct. 22, 2024 -
dblight via Getty Images
Huntington Bank CFO sees acceleration of fintech venture opportunities
Declining interest rates are opening the gateway for a “regrowth” of funding activity, Huntington Bank CFO Zachary Wasserman said.
By Grace Noto • Oct. 21, 2024 -
Max Kegfire via Getty Images
Many middle market firms in ESG ‘wait and see’ mode, RSM says
While 75% of mid-sized companies have begun preparing for new climate-related regulations, 84% of respondents said they are monitoring developments before taking further action.
By Chris Gaetano • Oct. 21, 2024 -
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EY, PwC voice cautious support for 120-credit hour CPA licensure
The Big Four accounting firms are now all signalling varied degrees of support for a CPA licensure option that would require 30 fewer college credit hours.
By Maura Webber Sadovi • Oct. 18, 2024 -
Courtesy of Raytheon Technologies
RTX to pay more than $950M in bribery, fraud settlement: DOJ
The Securities and Exchange Commission alleged that last decade RTX, formerly known as Raytheon, used bogus subcontracts with a supplier to pay bribes of nearly $2 million.
By Jim Tyson • Oct. 18, 2024 -
Anna Moneymaker via Getty Images
Ex-Tyson CFO pleads guilty to drunk driving
The son of the company’s chairman and ex-CFO pleaded guilty to charges stemming from his second alcohol-related arrest in two years.
By Grace Noto • Oct. 18, 2024
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