Financial Reporting: Page 3
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Intel appoints new CFO to troubled chipmaking unit
The appointment follows a $7 billion operating loss for Intel’s foundry unit as AI’s potential pushes up both interest and pricing in the semiconductor space.
By Grace Noto • April 3, 2024 -
Mario Tama via Getty Images
Allstate alum joins Farmers Insurance as CFO
Farmers is one of many insurers who stepped back from providing services to certain states in the face of increasing environmental risks in 2023.
By Grace Noto • April 2, 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 Tupperware
Tupperware flags accounting strains in late 10-K notice
The late notice comes roughly five months after Tupperware said its former independent auditor PricewaterhouseCoopers declined to be re-appointed.
By Maura Webber Sadovi • April 1, 2024 -
Lazarev via Getty Images
FASB fine-tunes proposed expense disclosure rule
The proposed accounting standards update is one of several initiatives that have been a priority for FASB under the general theme of disaggregation.
By Maura Webber Sadovi • March 29, 2024 -
Cara Salpini/CFO Dive
GameStop’s interim CFO gets permanent seat
The appointment comes after significant churn in the position and as the company looks to turn around slumping sales.
By Alexei Alexis • March 27, 2024 -
Spencer Platt via Getty Images
Mock earnings helped prep for IPO, Cava CFO says
The restaurant chain’s blockbuster 2023 initial public offering was seen by some as a promising sign for the lackluster IPO market.
By Grace Noto • March 27, 2024 -
Courtesy of ADM
Interim ADM CFO gets $35K monthly pay boost
Embattled Archer Daniels Midland also gave interim finance chief Ismael Roig restricted stock valued at $1 million that will fully vest in March of next year.
By Maura Webber Sadovi • March 26, 2024 -
Tero Vesalainen via Getty Images
Open Lending taps CFO for interim CEO, COO
Open Lending is leaning on its CFO of four years to position it for growth as it prepares for the “inevitable” recovery of the auto lending industry.
By Grace Noto • March 26, 2024 -
Sitthiphong via Getty Images
Fintech Wise swipes Delivery Hero alum for finance chief
Emmanuel Thomassin will depart for the London-based money transfer provider after a decade in Delivery Hero’s top financial seat.
By Grace Noto • March 25, 2024 -
mfto via Getty Images
FASB backs off bigger software accounting revamp
It's been decades since the Financial Accounting Standards Board has made any major changes to GAAP accounting rules for software.
By Maura Webber Sadovi • March 21, 2024 -
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Fed forecasts three, quarter-point rate cuts in 2024, holds main rate steady
Central bank officials upgraded their projection for 2024 economic growth to 2.1% while predicting unemployment will end the year at 4%.
By Jim Tyson • March 20, 2024 -
Chip Somodevilla via Getty Images
Federal appeals court pauses SEC climate rule implementation
The climate disclosure regulation is now on pause pending a review from the U.S. Fifth Circuit of Appeals, as the first of multiple challenges yields action.
By Lamar Johnson • March 19, 2024 -
Courtesy of FASB
Private firms, not-for-profits reckon with CECL
Many not-for-profits and private companies are just beginning to grapple with the new rules for current expected credit loss accounting.
By Maura Webber Sadovi • March 18, 2024 -
Dragan Smiljkovic via Getty Images
Joann files for bankruptcy; secures $132M in new financing
The craft retailer’s long-anticipated bankruptcy follows a $400k cash retention bonus paid out to its CFO.
By Grace Noto • March 18, 2024 -
Suriyapong Thongsawang via Getty Images
Opinion$29B Microsoft tax bill shows how big transfer pricing disputes can get
General counsel can help their organization avoid expensive legal battles by ensuring their intercompany agreements align with their compliance policies.
By Paul Sutton • March 18, 2024 -
zorazhuang via Getty Images
Joann approves $400K CFO retention bonus amid bankruptcy speculation
The struggling craft supplies retailer approved the bonus as it continues its hunt for a permanent CEO while facing liquidity and inventory challenges.
By Grace Noto • March 15, 2024 -
Courtesy of Popeyes
Popeyes parent names new CFO in leadership shakeup
The company named Sami Siddiqui as its CFO while Jeff Klein will fill Siddiqui’s previous role as president of Popeyes U.S.
By Julie Littman • March 14, 2024 -
Joe Raedle via Getty Images
Peloton CFO leans on cost cutting to reverse post-pandemic slump
Finance chief Liz Coddington is cutting overhead costs and driving more revenue from Peloton’s digital subscription and bike rental businesses.
By Suman Bhattacharyya • March 12, 2024 -
Courtesy of ADM
ADM reports DOJ subpoenas and document requests
The company’s confirmation of the DOJ’s involvement comes about two months after ADM disclosed an internal accounting probe and put its CFO on leave.
By Maura Webber Sadovi • March 12, 2024 -
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Skechers to pay $1.25M fine for undisclosed payments: SEC
The civil penalty comes as the SEC widens its spotlight on executive compensation and benefits.
By Grace Noto • March 11, 2024 -
ST-art via Getty Images
Regional bank execs push back on CRE risk fears
Regional banks are working to manage exposure to the office sector, but executives say they will skirt a regional banking crisis.
By Suman Bhattacharyya • March 8, 2024 -
Roy Rochlin via Getty Images
Funko CFO to step down as toymaker preps for ‘softer’ content schedule
Steve Nave is departing after largely executing his financial and operational goals. The CFO's resignation comes as Funko continues to brace for economic headwinds.
By Grace Noto • March 8, 2024 -
Courtesy of The Chemours Co.
Chemours says CEO, CFO violated ethics code
The executives engaged in financial practices that triggered an anonymous report to the Chemours ethics hotline, the company said.
By Alexei Alexis • March 7, 2024 -
Peyton Bigora/CFO Dive
GE finance veteran to join United Natural Foods
The food distributor announced that its sitting CFO will soon leave the company as it struggles with weak sales.
By Alexei Alexis • March 6, 2024 -
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Pillar 2 tax heightens CFO need for quality data
In 2021 more than 130 countries agreed to implement Pillar 2, which seeks to set a global minimum effective tax rate of 15% for certain multinational enterprises.
By Grace Noto • March 6, 2024
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