Financial Reporting: Page 7
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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 -
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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 -
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 -
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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 -
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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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Sage Therapeutics CFO, GC, CTO to depart in wide restructuring plan
The biotech will also be reducing its total workforce by approximately 33% and tapped its COO to take on responsibilities for finance as part of the restructuring.
By Grace Noto • Oct. 17, 2024 -
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NYSE poised to curb serial reverse stock splits
The New York Stock Exchange is proposing rule changes to protect investors from deeply distressed companies that are “inappropriate for trading.”
By Maura Webber Sadovi • Oct. 16, 2024 -
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Most accountants see ethical challenges increasing: ACCA
Two-out-of-five accountants said they most frequently face ethical challenges at work because of weaknesses in company leadership and culture, the ACCA said.
By Jim Tyson • Oct. 15, 2024 -
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S&P Global swipes State Street CFO for finance chief
The credit ratings firm will pay State Street CFO Eric Aboaf a $2.4 million signing bonus when he takes their top financial seat in February.
By Grace Noto • Oct. 15, 2024 -
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Lightpath CFO aims to drive finance team’s strategic focus
Newly-minted CFO Rachel Stack wants to ensure Lightpath’s financial talent has the tools they need to think more strategically.
By Grace Noto • Oct. 14, 2024 -
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5 tips for businesses filing hurricane-related insurance claims
With Hurricanes Helene and Milton estimated to have cost tens of billions of dollars in damage, it’s important for businesses to carefully document the impact when filing insurance claims.
By Maura Webber Sadovi • Oct. 11, 2024 -
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SEC sanctions Moog Inc. for alleged bribes, accounting flaws in India
The SEC and Justice Department filed 21 enforcement actions last year alleging violations of the Foreign Corrupt Practices Act.
By Jim Tyson • Oct. 11, 2024 -
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Stellantis CFO to step down in shakeup at beleaguered automaker
The CFO swap comes amid criticism for company leadership due to declining sales, with the Jeep operator also facing a potential strike by U.S. workers.
By Grace Noto • Oct. 11, 2024 -
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Deep DiveOpenAI’s $6.6B raise puts it at the tech’s vanguard. Will it be enough?
The raise left the Microsoft-backed company valued at $157 billion. But is a stable, profitable company lurking underneath all that funding?
By Grace Noto • Oct. 10, 2024 -
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KPMG backs 120-credit hour alternative CPA licensure option
Paul Knopp, KPMG U.S. Chair and CEO, called the deepening accounting talent shortage “a brewing crisis” that needs to be addressed in the “near term.”
By Maura Webber Sadovi • Oct. 9, 2024 -
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AICPA moves to amend financial statement standard
As companies are increasingly outsourcing accounting, the AICPA is looking to amend the standard for financial statements prepared by an external entity.
By Maura Webber Sadovi • Oct. 8, 2024 -
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Tinder parent Match promotes SVP to CFO
Match alum Steven Bailey will step into the company’s CFO seat as it fields demands from activist investors for change, including calls for a potential sale.
By Grace Noto • Oct. 8, 2024 -
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CFO compensation at recent IPO companies hits $1.2M average
Setting executive compensation has become more complex for companies considering an IPO because of regulatory, legal and other factors, Alvarez & Marsal said.
By Jim Tyson • Oct. 7, 2024 -
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New Salesloft CFO keeps eye on finance ‘fundamentals’
Though economic headwinds could accelerate a CFO’s shift to become a strategic leader, “business fundamentals” stay the same regardless, said Salesloft CFO Chris Nagy.
By Grace Noto • Oct. 7, 2024 -
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Jack in the Box controller takes third spin as interim CFO
For her third go-round as interim CFO, Jack in the Box controller Dawn Hooper will see a $19,500 monthly boost to her annual salary, the company said.
By Grace Noto • Oct. 4, 2024 -
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Online housing platform Opendoor brings in Google, eBay alum for CFO
Selim Freiha will take Opendoor’s financial reins as it weathers headwinds in a “challenging” housing market.
By Grace Noto • Oct. 2, 2024 -
Anna Moneymaker via Getty Images
3 CFOs gauge rate cut’s impact
The Fed’s rate cut has handed floating-rate debt borrowers an immediate tailwind but CFOs are still grappling with new strategies that the move could elevate.
By Maura Webber Sadovi • Oct. 1, 2024 -
The image by Coolcaesar is licensed under CC BY-SA 4.0
Workday takes on Microsoft in race to transform corporate finance
The recent introduction of Workday Assistant, an AI companion, follows the release of Microsoft’s Copilot for Finance earlier this year.
By Alexei Alexis • Oct. 1, 2024 -
Lamar Johnson/CFO Dive
Climate Week NYC 2024 delivers carbon removal deals, green banking coalition
The annual climate event launched with announced commitments to triple nuclear energy financing, decarbonization initiatives across the aviation sector and some carbon offset deals.
By Lamar Johnson • Sept. 27, 2024
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