Financial reporting


  • Sonos interim CFO Eddie Lazarus
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    Anna Moneymaker via Getty Images

    Sonos CFO departs for Taser-maker Axon

    CFO Brittany Bagley exits Sonos following disappointing fiscal third quarter revenue results, with the speaker company partially blaming inflation for a lackluster quarter.

    By Aug. 11, 2022
  • Display of Revlon makeup 2018
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    Justin Sullivan via Getty Images

    Bankrupt Revlon to pay $165,000 monthly for interim CFO

    Alvarez & Marsal Managing Director Matt Kvarda will step in as interim CFO for beauty brand Revlon as it goes through corporate restructuring, with the consulting firm reaping a $165,000 monthly fee.

    By Aug. 10, 2022
  • Explore the Trendline
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    Photo by LinkedIn Sales Navigator on Unsplash
    Trendline

    Mastering revenue recognition

    Improper revenue recognition is companies' No. 1 reporting violation, according to the SEC, underscoring the importance of sound compliance practices.    

    By CFO Dive staff
  • Van in traffic with the Brink's Company logo. Brink's Company is an American private security and protection company
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    Photo illustration by Elizabeth Flood/CFO Dive; photograph by Cristi Croitoru via Getty Images

    Brink’s taps Eaton, PwC veteran as CFO

    The Brink's Company, know for its iconic trucks that transport cash, has tapped a new CFO as its long-time finance chief prepares to retire. 

    By Aug. 10, 2022
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    IFF CFO sees ‘meaningful’ cost increases next year

    International Flavors & Fragrances CFO said the ingredient maker is rethinking contracts as part of its effort to combat inflation. 

    By Aug. 9, 2022
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    Retrieved from Unsplash on July 22, 2021

    AMC Networks promotes CFO to CEO, names new finance chief

    Patrick O’Connell is joining AMC as CFO while the current finance chief moves up the ladder.

    By Aug. 9, 2022
  • Tanger Outlet Center sign from afar
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    Tanger REIT continues CFO hunt, highlights ESG

    Two months after announcing the abrupt departure of James Williams, Tanger REIT is continuing its CFO search. 

    By Aug. 9, 2022
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    400tmax via Getty Images

    Companies reporting weak earnings go unpunished

    Several CFOs have announced disappointing second-quarter earnings while not triggering a decline in their company’s share price, FactSet said.

    By Aug. 8, 2022
  • Man walks past Softbank mobile store
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    Plummeting tech valuations lead to record $23B SoftBank loss

    The slump in global technology stocks, rising inflation and a weaker yen led Japanese bank SoftBank to report a record $23 billion loss.

    By Aug. 8, 2022
  • Scales of justice and a gavel lay on a wooden table.
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    Bankrupt Celsius pulls bid to hire ex-CFO

    Cryptocurrency firm Celsius pulls motion to tap its former CFO as a bankruptcy advisor following legal objections filed from investors.

    By Aug. 8, 2022
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    Just 9% of finance departments have primary ESG oversight: survey

    Evidence of loose internal controls related to environmental, social and governance (ESG) data comes as the potential cost of companies getting ESG reporting wrong are rising. 

    By Aug. 5, 2022
  • WeWork To Adjust Corporate Governance, Valuation Ahead Of IPO
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    WeWork plans to raise rates in stronger markets

    CFOs are wrestling with how much to spend on office real estate as the shift to hybrid work has accelerated.  

    By Aug. 4, 2022
  • Securities and Exchange Commission, SEC, Building in Washington DC
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    SEC should require global tax disclosure: transparency group

    Spotty public disclosure by U.S. companies on foreign tax risk may erode investor confidence and increase the odds of financial market instability, according to the FACT Coalition.

    By Aug. 4, 2022
  • Cryptocurrency tokens lying next to a gavel
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    Bankrupt Celsius, investors clash over former CFO advisory role, allege double dipping

    Investors are taking steps to block Celsius from tapping former CFO Rod Bolger as a bankruptcy advisor, a bid that comes with a costly $92,000 monthly price tag for the insolvent company.

    By Aug. 4, 2022
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    PayPal hands new CFO $6M cash hiring bonus

    The PayPal CFO's new-hire bonus comes as some companies are using more cash-rich compensation packages to land finance chiefs.

    By Aug. 3, 2022
  • Uber app tracking a driver
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    Inflation brings new drivers to Uber in cash flow positive quarter

    Inflation is nudging new drivers and couriers to Uber as the company posts record driver base figures and its first cash flow positive quarter.

    By Aug. 2, 2022
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    PCAOB, SEC double down on full access to audits in China

    The Public Company Accounting Oversight Board (PCAOB) doesn’t have the authority to remove foreign companies from U.S. exchanges but a 2020 law gives the Securities and Exchange Commission authority to do that if the PCAOB isn’t getting cooperation.

    By Aug. 2, 2022
  • Windmills behind a field of solar panels.
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    CFOs look for consistency, transparency in emerging sustainability requirements

    CFOs globally are asking for added transparency and more consistency as regulatory bodies gear up to publish sustainability reporting standards later this year.

    By Aug. 1, 2022
  • View of declining graph
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    U.S. economy faces recession question as inflationary pressures continue

    Ongoing pressures are raising the question of whether the U.S. is inching toward a recession. That threat is emerging amid conflicting economic indicators.

    By July 29, 2022
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    Steady capex buoys JPMorgan economist’s recession-free outlook

    While businesses are cautious, second quarter capex levels suggest they don’t appear to be bracing for a broader contraction, according to JPMorgan’s Jim Glassman. 

    By July 28, 2022
  • SEC Chair Gary Gensler smiles
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    SEC may take ‘fresh look’ at auditor conflicts of interest: Gensler

    Decades after the Enron accounting scandal led Congress to direct the SEC to create stronger barriers between auditors and other parts of their firms, auditor conflicts of interest persist.  

    By July 28, 2022
  • Meta headquarters sign
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    Meta swaps CFOs, posts first-ever revenue decline

    Meta VP, Finance Susan Li will take on the CFO position as current CFO David Wehner becomes the company’s first chief strategy officer, an executive shuffle that comes as the company reports less-than-stellar Q2 earnings.

    By July 28, 2022
  • $100 bills fan out on top of each other.
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    Fed makes second .75 rate hike in bid to tamp down runaway inflation

    The second consecutive 75 point hike follows “worse than expected” June results, with Chairman Jerome Powell stating a strong labor market still belies a current recession.

    By July 27, 2022
  • The photo shows a business person exiting an office building's door over which an Ernst & Young label is hung.
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    Insurer Aspen switches to E&Y after accounting weaknesses surface

    Aspen’s hiring of Ernst & Young follows the resignation of KPMG after the insurer identified “material weaknesses” in internal controls related to its financial reporting. 

    By July 27, 2022
  • Row of coke bottles
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    Coca-Cola sees strong consumer demand despite rising prices

    Coca-Cola saw global unit case volume lift 8% despite rising prices due to ongoing inflation, causing the company to adjust full-year guidance. 

    By July 26, 2022
  • A car sits at a drive-thru at a McDonald's restaurant on a sunny day with a blue sky.
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    McDonald's CFO expects some moderating of food, paper inflation

    McDonald’s CFO Kevin Ozan’s expectation of a potential moderation in food and paper inflation is likely a welcome note of optimism for financial executives under pressure to offset soaring prices.

    By July 26, 2022