For GenAI-backed accounting, CFOs can’t ‘learn as you go’

CFOs need to develop a business-wide plan for GenAI’s use, create clear data practices and ensure accountability to incorporate the technology into accounting effectively.   

MGM CFO expects insurance to cover cyberattack costs

The Las Vegas-based casino and resort operator has pegged the costs of the September cyberattack that temporarily crippled operations at about $100 million.

Health care benefit costs surge 9.8%: WTW

High inflation and strains from COVID-19 prolonged a trend of rising medical care costs.

AMC Networks expects ‘no material impact’ from Hollywood strikes

Despite now-resolved labor strikes that brought Hollywood to a standstill, AMC Networks is “set up well going into 2024,” CFO Patrick O’Connell said.

Ralph Lauren veteran takes CFO job at Vince

John Szczepanski takes on a role that has had significant turnover in recent months, as the struggling brand embarks on a turnaround.

FASB’s new segment guidance will go swiftly into effect

Public companies will be required to comply with the new accounting requirements in reports for annual periods beginning after Dec. 15.

Consumer confidence rises after a three-month decline: Conference Board

The gain in consumer confidence preceded a surge in online spending on Black Friday.

Driving the GenAI journey: Teradata CFO

CFOs must take point on plotting a company’s AI course, navigating compliance and governance, and finding key talent and use cases, Teradata’s CFO Claire Bramley said.  

AI developers, led by OpenAI, raise over $50B

ChatGPT maker OpenAI currently leads the pack with $11.3 billion in funding, as the tech sector’s rising star also faces a host of challenges.

Employers willing to pay ‘premium’ for AI-skilled workers: AWS study

Nearly three out of four employers (75%) who view the hiring of talent with AI skills as a priority reported having difficulty finding qualified candidates.

Pagaya CFO exits, deputy steps up

Michael Kurlander, who brought decades of Wall Street experience to Pagaya, is leaving the technology firm after just over two years in the CFO seat. 

4 CFO tips for spurring growth through innovation: McKinsey

More than eight out of 10 CEOs believe innovation is key to outperformance, but only 6% are satisfied with their companies’ track record in creativity, McKinsey said.

Creating a ‘poachable’ talent culture: TAB Bank CFO

Making one’s own employees competitive to other organizations can help to foster a strong, loyal talent base, TAB Bank CFO Boyd Hunter says.

‘Rough ride’: 5 CFO tips for cutting insurance costs amid climate change

CFOs facing more destructive weather and soaring insurance costs can take five steps to hold down premiums.

Weaker consumer spending to trigger mild recession in 2024: Fannie Mae

Consumer sentiment sagged this month, a survey showed, bolstering forecasts that holiday sales and consumer spending will decline in coming weeks.

OpenAI chaos shows need for multiple-vendor approach: Zoom CFO

Zoom is one of many companies betting heavily on the future of artificial intelligence following the rapid rise OpenAI’s ChatGPT service.

Cover Genius looks to deepen FP&A team

A robust FP&A team is critical for businesses to be able to properly plan for the future, Cover Genius CFO David Rudow said.  

Coupa names new CFO in C-suite shakeup

The appointment is the latest in a series of leadership changes at the company following its acquisition by private equity firm Thoma Bravo.

With ex-controller back on the stand, Trump defense looks to muddy accounting waters

The ex-controller pointed to long-time independent accountants Mazars USA as responsible for preparing the Trump Organization's financial statements.

Intuit’s QuickBooks angles to grow up — with its customers

With advanced access controls, workflow and reporting tools, QuickBooks is increasingly positioning itself to serve larger firms.

Economy sputtering toward ‘very short recession’: Conference Board

The economy will likely shrink in coming months and end 2024 with just lackluster growth, the Conference Board said.

Chaos at OpenAI raises questions about enterprise reliance on ChatGPT

With OpenAI's leaders ousted and staff in revolt, the volatility could cause enterprises to shift where they procure generative AI. 

Nikola CFO steps down after six months amid wobbly EV market

Anastasiya Pasterick will leave the EV maker after a half-year stint in the top financial seat to take a CFO role at aerospace firm Universal Hydrogen.

Testing AI in the finance function: McKinsey

In coming years, generative AI will be “table stakes” for all forward-looking finance teams, according to a McKinsey AI guide for CFOs.

Leveraging AI to step up your CFO game in 2024

While the world is dreaming of big problems AI might solve, business leaders should look to use the technology to address specific company pain points, writes Vic.ai’s Anand Desai.