As XBRL in financial reporting matures, focus is on accuracy

The ability to increase financial transparency with machine-readable tags is improving, but few means are in place to ensure data quality. 

By Ted Knutson • Feb. 25, 2020

Can a CFO restore his reputation after SEC fraud allegation?

After a long legal battle, the SEC dropped fraud charges against former Osiris Therapeutics CFO Gregory Law, but his professional standing may never recover. 

By Robert Freedman • Feb. 24, 2020

Explore the Trendline➔

Financial reporting enters a new age

Finance leaders are increasingly relying on metrics including churn, net promoter score and customer growth to reveal company performance in a way traditional GAAP measures cannot.

By CFO Dive staff

More scrutiny in store for CECL bank credit-loss standard

Rep. Brad Sherman, D-Calif., the new chair of a House investor protection subcommittee, hopes to shine more light on FASB and PCAOB's roles in accounting and auditing.

By Robert Freedman • Feb. 23, 2020

Catching rogue staff before they cost your enterprise a bundle

You can expect a cash leakage of up to 5% of revenue if your security system is built around little more than periodic audits, a security specialist says. 

By Robert Freedman • Feb. 20, 2020

Proposal to fold audit watchdog into SEC sparks pushback

The independent board overseeing the quality of audits of publicly traded companies would become a function of the SEC in the FY21 federal budget request. 

By Robert Freedman • Feb. 18, 2020

Global group again warns about splitting up audit firms

Firms that provide both audit and non-audit services develop extensive in-house talent that lets them provide higher quality audits, an international accounting group says.

By Robert Freedman • Feb. 13, 2020

CFOs less likely to blow whistle on fraud when under financial pressure

CFOs with accounting backgrounds are more likely to express fraud concerns to external resources than CFOs with banking or finance backgrounds, a study of Italian companies from the Journal of Business Ethics found. 

By Jane Thier • Feb. 10, 2020

Making the most of new rules on goodwill impairment

New FASB rules for SEC-regulated companies only require one test to be met, but begin impairment calculations early to ensure accurate reporting. 

By Suzanne Northington • Feb. 3, 2020

Largest Boeing supplier CFO out amid compliance review

The CFO and the controller at Spirit AeroSystems have resigned and their replacements have been hired, the company says.

By Jane Thier • Feb. 2, 2020

New credit loss accounting standard expected to pummel retail income

FASB's CECL standard took effect for public banks at the beginning of this year. Analysts at Morgan Stanley say it's going to hit some retailers hard.

By Robert Freedman • Jan. 27, 2020

IRS to consider repatriation double taxation relief

The agency is looking for instances in which the same earnings and foreign corporate profits are taxed twice: as dividends and as repatriated income under section 965 of the Tax Code. 

By Robert Freedman • Jan. 17, 2020

Ex-CFO of 1 Global Capital gets 5-year fraud sentence

Alan Heide pleaded guilty last August to misrepresenting how revenue was being used at the short-term cash advance company.  

By Robert Freedman • Jan. 16, 2020

SEC can't force Telegram to reveal its bank records, judge rules

The encrypted messaging app won't have to reveal how it spent $1.7 billion, but it must prove by Thursday that it complies with foreign data privacy laws.

By Robert Freedman • Updated Jan. 9, 2020

Regulators eye accounting, audit changes for 2020

FASB, the SEC and PCAOB all have changes in the works that could affect both your reporting and your auditors.

By Robert Freedman • Jan. 1, 2020

Ernst & Young chief accountant tapped to lead FASB

The organization has faced criticism for the way it has rolled out recent changes in standards. 

By Robert Freedman • Dec. 22, 2019

SEC hits MetLife with $10M fine for accounting errors

The insurer had a practice of releasing reserves for annuity customers if they didn't respond to two letters which were sent five and a half years apart.  

By Robert Freedman • Dec. 18, 2019

Clawbacks appear to cause more harm than good, study finds

Executives are more likely to engage in aggressive tax strategies than managing accruals if they face potential loss of their bonuses, researchers say.

By Robert Freedman • Dec. 16, 2019

CFO, CEO of solar panel company charged with misusing investor funds

The CFO, Michael Sweaney, identified himself on company communications as Michael Hatton, allegedly to hide a prior securities fraud conviction, the SEC says. 

By Robert Freedman • Dec. 12, 2019

Ex-trucking CFO, CEO charged with accounting fraud

The CFO signed misleading reports on how prices were set on trucks the company bought and sold, the SEC alleges. 

By Robert Freedman • Dec. 10, 2019

Transformation of GE's closing process aims to improve finance jobs, CFO says

The company created a data lake to help organize a system that includes thousands of legal entities, many of which use their own ERP software.

By Robert Freedman • Dec. 9, 2019

SEC charges CFO, other former Iconix executives with fraud

Former CFO Warren Clamen failed to recognize losses from the company's failing licensees, among other violations of reporting laws. 

By Robert Freedman • Dec. 8, 2019

Ex-CFO, others charged in biotech accounting scheme

The CFO is accused of ignoring concerns raised by the company's controller over payment arrangements made with some suppliers. 

By Robert Freedman • Dec. 2, 2019

Ex-CFO, others at healthcare ad company charged with $487M fraud

Among other offenses, CFO Brad Purdy "did nothing to correct the financial statements before he provided them to investors," the SEC alleges. 

By Robert Freedman • Nov. 26, 2019

Managing a smooth transition to ASC 606 revenue recognition

Decisions made by legal, sales, and other teams can affect how you recognize money coming in and going out. Collaboration is key to staying on the right side of the 700 pages of guidelines.

By Robert Freedman • Nov. 25, 2019

FLSA joint employment, regular rate regs coming in December

The agency also announced plans to fast-track updates to its FMLA regulations.

By Kate Tornone • Nov. 20, 2019