Financial Reporting


  • FASB board
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    Courtesy of FASB
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    FASB advances gross-up fix for CECL

    In 2016 FASB sought to curb delays in recognizing deteriorated assets through its current expected credit losses standard that it is now revisiting.

    By March 4, 2024
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    David McNew via Getty Images
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    93% of firms use a mix of ESG standards, thwarting uniformity efforts: IFAC

    The spotlight on confusion from a jumble of ESG frameworks comes just days before a vote on an SEC rule aimed at ensuring uniformity in climate disclosure.

    By March 4, 2024
  • U.S. mint Explore the Trendline
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    tsimage via Getty Images
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    Trendline

    Top 5 stories from CFO Dive

    Cooling inflation, an M&A rebound and an AI reckoning are among the top forces that could shape the corporate finance world this year.

    By CFO Dive staff
  • Allen Weisselberg criminal court sentencing
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    Michael M. Santiago via Getty Images
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    Ex-Trump CFO Weisselberg pleads guilty to perjury

    The ex-CFO will be sentenced to five months in jail after pleading guilty to two counts of perjury, according to reports, his second felony conviction in two years.

    By March 4, 2024
  • Lordstown Motors CEO Steve Burns standing next to the company's Endurance pickup.
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    Courtesy of Lordstown Motors
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    SEC charges Lordstown Motors with misleading investors on sales outlook

    Lordstown’s auditor and adviser also faces SEC sanctions for allegedly violating independence standards.

    By March 1, 2024
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    Pascal Le Segretain via Getty Images
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    Clearing the tax ‘data swamp’: Thomson Reuters

    To keep pace with emerging tax requirements, organizations need to change their processes as well as their technologies, Thomson Reuters’ Ray Grove said.  

    By Feb. 29, 2024
  • Microsoft CEO Satya Nadella speaks as OpenAI CEO Sam Altman looks on during the OpenAI DevDay event on November 06, 2023 in San Francisco, California.
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    Justin Sullivan via Getty Images
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    Microsoft rolls out Copilot AI tool to finance teams

    The move is part of Microsoft’s effort to layer AI across its enterprise offerings, with the ambitious goal of impacting every role in the workplace.

    By Feb. 29, 2024
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    Avosb via Getty Images
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    Judge denies former View CFO motion to dismiss SEC complaint

    The SEC had “adequately alleged facts” which allowed the court to reasonably infer negligence on the part of the ex-CFO, the judge said.

    By Feb. 28, 2024
  • Offshore wind turbines
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    Christopher Furlong via Getty Images
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    Orsted taps new CFO, COO in turnaround bid

    The troubled offshore energy developer appointed new financial and operational leadership as it looks to get back on course following a turbulent 2023.

    By Feb. 27, 2024
  • The front of the agency headquarters, reading "United States Security and Exchange Commission" and the number 450 as a man walks in a glass door at the bottom left of the frame.
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    Mark Wilson/Newsmakers via Getty Images
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    CFOs take backseat to CISOs on SEC cyber rules

    Less than half of finance chiefs are involved in the SEC's cybersecurity breach disclosure process, AuditBoard found.

    By Feb. 27, 2024
  • Exterior of MGM Grand Hotel & Casino in Las Vegas
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    Ethan Miller via Getty Images
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    MGM Resorts’ cyberattack headache continues as regulators launch investigations

    The company said it could face fines in connection with regulatory inquiries stemming from the social engineering attack.

    By David Jones • Feb. 26, 2024
  • a business leader, seen from behind, looking at a screen with complex data visualizations
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    Artem Peretiatko via Getty Images
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    New Prophix CFO: championing the ‘data steward’ shift

    The “bird’s eye view” of the business provided by finance chiefs makes them ideal choices as stewards of data, Prophix CFO Aaron Levine says.  

    By Feb. 22, 2024
  • NEW YORK, NY - SEPTEMBER 16: Planet Fitness Wall Street Grand Opening exterior general view
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    Andrew H. Walker via Getty Images
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    Planet Fitness CFO retiring amid search for CEO

    The announcement comes in the wake of the health-club chain’s abrupt decision last fall to oust then CEO Chris Rondeau.

    By Feb. 22, 2024
  • A reflective white and gray jet flying above the clouds with the blue sky in the background.
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    Courtesy of Honda Aircraft Co.

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    IRS targets ‘under the radar’ misuse of corporate jets: Werfel

    The IRS has stepped up tax enforcement since Congress approved a $80 billion funding boost in 2022.

    By Feb. 22, 2024
  • Business executive breaks pencil after error.
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    Ablestock via Getty Images
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    More than half of accountants make several errors each month: Gartner

    Accountants with excessive workloads tend to err through manual mistakes, lax review of records or misinterpretation of data, Gartner said.

    By Feb. 21, 2024
  • Allen Weisselberg in court on October 2023
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    Michael M. Santiago via Getty Images
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    Ex-Trump CFO still faces legal, financial troubles after civil fraud ruling

    Ex-CFO Allen Weisselberg is confronting potential perjury charges, financial penalties and a fraught ending to his career.

    By Feb. 21, 2024
  • Zero sugar, no sugar written out
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    nito100 via Getty Images
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    Zevia taps new CFO amid growth push

    The CFO swap comes as Zevia fights to bolster growth amid financial challenges and competitive demand for healthier beverages.

    By Feb. 20, 2024
  • Donald Trump in front of American flag
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    Spencer Platt via Getty Images
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    Judge orders Trump Organization to pay $364M in long-awaited civil fraud ruling

    Judge Engoron also permanently banned the organization’s ex-CFO and ex-controller from serving in the financial control function of any New York corporation.

    By Feb. 16, 2024
  • KamiPhotos
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    KamiPhotos via Getty Images
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    Former NJ law firm CFO charged in $1.5M embezzlement scheme

    The ex-finance chief had his law firm pay $355,256 in credit card ex-expenses for himself and his family, the New Jersey Attorney General alleges.

    By Feb. 16, 2024
  • IRS Commissioner Daniel Werfel.
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    Alex Wong via Getty Images
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    Werfel defends IRS against Republican efforts to slash funding

    Before the approval of $80 billion in extra funding in 2022, the Internal Revenue Services fielded just one examiner for every 150 of the largest tax filers, IRS Commissioner Daniel Werfel said.

    By Feb. 15, 2024
  • Krispy Kreme doughnuts
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    Scott Olson via Getty Images
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    Krispy Kreme faces double-digit inflation in some costs: CFO

    The company is grappling with soaring sugar prices as the fight to keep inflation down remains an ongoing challenge for the Federal Reserve.

    By Feb. 14, 2024
  • Lyft sign seen outside JFK airport
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    Michael M. Santiago via Getty Images
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    Lyft shares rise 35% after earnings report typo sparks confusion

    An “extra zero” added to a press release sent Lyft stock soaring. It subsided after clarification of the number but still closed at a 52-week high.

    By Feb. 14, 2024
  • A photo of the Hewlett Packard Enterprise Houston campus
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    Courtesy of Hewlett Packard Enterprse
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    HPE seeks to recoup $4B in long-running fraud case

    Hewlett Packard Enterprise attorneys want the founder and ex-CFO of Autonomy to pay for the steep losses HPE faced after acquiring their firm.

    By Feb. 12, 2024
  • money trade exchange 3d background of growth success
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    Shutterstock/ Lemonsoup14

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    Sponsored by Oak Point Partners

    Innovative asset management category provides new opportunity for top companies

    A new asset management category – called remnant asset monetization – can add value to your company, potentially well into the millions of dollars or more. In fact, this groundbreaking new category is a $100+ Billion previously untapped market. 

    Feb. 12, 2024
  • Enerpac hydraulic lift
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    Courtesy of Enerpac
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    Enerpac Tool appoints interim finance chief

    The Menomonee Falls, Wisconsin-based industrial tool maker appointed its head of financial planning to the interim CFO position. 

    By Feb. 9, 2024
  • US capitol building
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    Jemal Countess via Getty Images
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    R&D tax rollback proposal leaves CFOs ‘on edge’

    Many businesses applauded when a tax package with the key R&D provision sailed through the U.S. House. Now they’re waiting for the Senate to act.

    By Feb. 8, 2024