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Spotify CFO: Company could achieve profitability, 'If we wanted to'

Paul Vogel said transitioning from break-even to profitability is possible, but it would come at the cost of pivoting away from AI, machine learning, and research and development investments.

PPP loan forgiveness could result in big tax bills

Unless Congress intervenes, the IRS will not allow businesses to write off wages and rent paid for with Paycheck Protection Program funds.

Pandemic pushing CFOs further into strategist role: survey

In February, 29% of surveyed CFOs reported spending a significant portion of time in a strategist role. In May, that jumped to 42%.

Collaboration integral to operations, Red Hat CFO says

Finance undergirds policy decisions in a company that defines itself by open processes, finance chief Laurie Krebs says. 

SEC charges Herbalife with foreign accounting violations

The multi-level marketing company will pay $123 million to settle charges the Securities and Exchange Commission, Department of Justice and the U.S. Attorneys Office for the Southern District of New York brought against it.  

Nearly half of companies at pre-pandemic operating levels: CFO survey

Companies have largely bounced back operationally from last quarter, and finance leaders have a renewed sense of optimism for 2021, Deloitte's 3rd quarter CFO Signals survey found.

Opinion

Real-time planning helps CFOs answer pandemic-critical 'what if' questions

To forecast today, think in shorter time horizons, identify how COVID-19 changes your business drivers, use large amounts of quality data to weigh "what if" scenarios, and create agile processes, specialists say. 

BorgWarner materially misstated its financial statements: SEC

In a settlement over its accounting for asbestos-related liability, the motor vehicle parts manufacturer agreed to pay a $950,000 penalty.   

43% of finance leaders optimistic going into 2021: survey

While 98% of respondents in OneStream Software's Enterprise Financial Decision-Making survey experienced pandemic-related challenges, nearly half still plan on increasing their budgets next year.

CFO: The path to finance leadership should wind through FP&A

Heading up the financial planning and analysis function gives you the skills and perspective to be a top leader, HubSpot CFO Kate Bueker says. 

Super Micro Computer, CFO charged with speeding up revenue recognition

In the settlement, the company will pay $17.5 million, the CFO will pay $350,000, and the CEO will have $2.1 million in stock profits clawed back.  

CFO mulling post-pandemic go-to-market playbook

Finance chief Ivor Macleod of regenerative drug company Athersys has learned a lesson from his company’s virtual capital raise: on-site sales presentations might be a thing of the past.

Amid gun sales spike, new arms manufacturer CFO prioritizes efficiency

Deana McPherson began as CFO at Smith & Wesson Monday, which, following the company's spinoff of its outdoor business, will now operate as a standalone firearms manufacturer.

CFOs must grapple with pandemic-related payroll tax nexus

With employees working remotely, often in another state from the office, payroll tax and other calculations are complicated by economic nexus issues. 

Wall nonprofit said to have used shell entities to pass donations to officers

We Build the Wall is charged with using a shell nonprofit, a veiled corporation and two anonymous associates as part of an effort to pass payments to officers.

Judge OKs lawsuit by businesses seeking coronavirus-related insurance claims

In a first, restaurants and other businesses hit by pandemic shutdowns can move forward on legal efforts to get insurers to pay on business interruption policies.

Survey: Most employers planning raises, bonuses for 2021

Only 7% of companies are not planning pay increases next year, down from 14% this year, indicating organizations are projecting a turn toward normalcy next year, a Willis Towers Watson report says. 

Improper revenue recognition tops SEC fraud cases

Attorneys who work with SEC whistleblowers walk through the 10 most common types of fraud in an Accounting Today analysis.  

Survey: Health plans to cost $15,500 per employee next year

More plans are expected to cover virtual office visits and expanded mental health and well-being offerings.

CFO helped Rekor boost cash with mid-pandemic divestitures

The company didn't let disruption impede its strategy to focus on a technology that's ripe for expansion into the private sector.

Opinion

3 tips for CFOs looking to migrate to a subscription pricing model

Tip one: Resist moving revenue recognition outside of your ERP, otherwise you decrease visibility into the success of your subscription model and create reporting, tracking and compliance problems. 

Pandemic-hit companies can still raise capital, investor says

The key is to give an inside look at your data to help bridge a widening trust gap without in-person meetings.  

How one CFO pulled off the year's biggest tech IPO

Bryan Hipsher joined Dun & Bradstreet during the most fraught period of its company history. Less than 18 months later, it became the year's best tech IPO. 

SEC charges Hertz's former CEO with aiding financial reporting violations

Mark Frissora has agreed to settle the charges and repay Hertz nearly $2 million in incentive-based compensation.

Rank-and-file sexual harassment can devalue companies by 20%

Sexual harassment that doesn't make the news won't often affect stock prices right away, but within a year it can hit valuations hard.