FASB crafts workarounds to proposed expense rule’s pain points

On the heels of new crypto accounting rules, the FASB’s proposed expense standards also represent a big change for many public company report preparers.

By Maura Webber Sadovi • May 10, 2024

Ford CFO tapped as vice chair; Lucid Motors exec set to succeed

Ex-Lucid Motors CFO Sherry House will receive a $1.2 million cash sign-on bonus as Ford's VP of finance.

By Grace Noto • May 10, 2024

Explore the Trendline➔

Top 5 stories from CFO Dive

The promises and traps of generative AI, revamped modern finance teams and stark geopolitical risks are among the top forces CFOs are grappling with this year.

By CFO Dive staff

Nerdwallet CFO champions user growth in face of credit, lending headwinds

The former eBay and StubHub executive is keeping her eye on uncertainty in the banking sector and other headwinds following a mixed quarter.

By Grace Noto • May 9, 2024

Generative AI enables small accounting firms to challenge big ones: AICPA

Accountants should respond to the rapid pace of generative AI adoption by embracing it and delving into experimentation, the AICPA said.

By Jim Tyson • May 7, 2024

UPS CFO set to depart, citing health

The parcel delivery service’s CFO will be stepping down to focus on his personal health as UPS struggles to boost sagging shipping volumes.

By Grace Noto • May 7, 2024

Trump Media replaces auditor charged with fraud

The Sarasota, Florida-based media company dismissed its former auditor on Friday, the same day the SEC charged BF Borgers with “massive fraud.”

By Maura Webber Sadovi • May 6, 2024

Coca-Cola exec to take Diageo CFO seat

Diageo is tapping Coca-Cola alum Nik Jhangiani for its CFO as the Guinness maker battles slumping sales in the face of changing consumer tastes and spending trends.  

By Grace Noto • May 6, 2024

SEC hits Trump Media auditor with $12M fine

BF Borgers, an auditor of public company financial statements, has committed massive fraud impacting more than 1,500 SEC filings, the agency said.

By Alexei Alexis • May 3, 2024

Peloton cuts jobs, searches for new CEO amid financial turmoil

“We made some very tough decisions, and while we firmly believe these actions are the right thing to do for the business, cuts like this are painful,” CFO Liz Coddington said. 

By Alexei Alexis • May 2, 2024

Marriott gears up for another year of major tech spending

The company expects full-year investments to reach $1 billion as digital transformation projects advance, according to its latest earnings call.

By Lindsey Wilkinson • May 2, 2024

Amazon clinching bigger, longer cloud deals after AI boost: CFO

Amazon is the latest tech giant whose hefty AI spending has been rewarded by Wall Street in the current earnings season. Meta has been an exception.

By Alexei Alexis • May 1, 2024

Modern finance team makeovers: Chief accounting officers

CFOs and CAOs have developed a “symbiotic relationship” as the finance function morphs into a driver of business strategy.

By Grace Noto • April 30, 2024

Meta falls in AI reckoning as Microsoft, Google soar

Investors rewarded AI spending strategies at Microsoft and Google but rebuffed Meta, whose stock plummeted.

By Alexei Alexis • April 30, 2024

Internal audit leaders need to hire more tech-savvy accountants: IIA

Companies hiring for internal audit need to prepare for disruption from new technology such as artificial intelligence and robotic process automation, IIA said.

By Jim Tyson • April 29, 2024

Cannabis firm MedMen files for bankruptcy

MedMen is liquidating its California assets following a failure to clamp down on excessive debt, with its seventh CFO in a five year period exiting ahead of its bankruptcy. 

By Grace Noto • April 29, 2024

Chemours CFO resigns following accounting investigation

Jonathan Lock’s resignation comes after an internal audit determined he had engaged in unethical financial practices.

By Grace Noto • April 26, 2024

Former Chuck E. Cheese exec takes Dave & Buster’s CFO seat

The change comes as Dave & Buster's looks to drive growth through a dining experience overhaul, among other initiatives.

By Alexei Alexis • April 25, 2024

Proposed PCAOB rule risks turning auditors into legal watchdogs

The NOCLAR proposal would impose on auditors greatly expanded responsibilities for identifying — or even preventing — noncompliance with a very wide range of laws, PwC’s Brian Croteau writes.

By Brian Croteau • April 25, 2024

Heathrow CFO transitions to COO role

Javier Echave is exiting the CFO role on a high note, after a record 18.5 million passengers traveled through the airport during the first quarter.

By Alexei Alexis • April 24, 2024

Tesla CFO eyes pullback in EV market amid slumping sales, restructuring

Tesla is leaning on AI, layoffs and new autonomous projects to help boost its future sales after a disappointing first quarter. 

By Grace Noto • April 24, 2024

Shifting accounting norms for the AI age: EY

The rise of AI in the accounting space could bolster the need for core financial skills and expertise, EY’s Daren Campbell says.

By Grace Noto • April 23, 2024

ADM’s suspended CFO to resign amid accounting scandal

Vikram Luthar — who was placed on a forced leave in January — will assist the company and be paid his base salary until his resignation is effective on Sept. 30.

By Maura Webber Sadovi • April 23, 2024

Big Six tech firms’ profit momentum could be headed for collapse: UBS

The companies’ growth in earnings per share is projected to drop to 15.5% by the first quarter of 2025, from an estimated 42.2% for the same period in Q1 2024.

By Alexei Alexis • April 23, 2024

HeadSpin founder Lachwani sentenced to 18 months in prison for fraud

The former CEO of HeadSpin — ordered to pay a $1 million fine — faces a July hearing focused on compensating bilked investors.

By Jim Tyson • April 22, 2024

Mobico CFO steps down following delayed financial results

The public transport company appointed an interim CFO after reporting a 36% drop in profit, impacted by inflationary pressures and labor shortages in key markets.  

By Grace Noto • April 22, 2024