Financial Reporting: Page 15

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    Super Micro proposed class actions head toward consolidation

    Litigation alleging Super Micro, its CEO and CFO misled investors is poised to heat up. But an AI supercomputer project the company is involved in got a shout-out from Elon Musk.

    By • Dec. 6, 2024
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    Former Yelp exec named Etsy CFO

    The change is part of a broader management shake-up at Etsy as it grapples with declining sales.

    By • Dec. 5, 2024
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    Trendline

    CFO best practices in the evolving generative AI era

    As the initial frenzy around the launch of generative artificial intelligence subsides, a new GenAI era appears to be taking shape.

    By CFO Dive staff
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    Intel CFO: Core business strategy remains ‘intact’ after CEO exit

    It’s likely the incoming CEO will have a foundry background, David Zinsner, CFO and interim co-CEO for Intel said during a conference Wednesday.  

    By • Dec. 5, 2024
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    Super Micro heeds committee call for new CFO amid process ‘lapses’

    The tech company probe’s findings come on the heels of Big Four firm EY resigning in October from its position as Super Micro’s registered public accounting firm.

    By • Updated Dec. 4, 2024
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    Samsung CFO takes on new role in management shake-up

    The shift comes on the heels of profit struggles at Samsung and the company’s public apology to investors.

    By • Nov. 27, 2024
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    FASB updates convertible debt rules

    The new GAAP guidance stems from a request made by Big Four accounting firms and comes as the convertible bond market is regaining steam. 

    By • Nov. 27, 2024
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    Scotts Miracle-Gro appoints interim CFO in leadership shift

    Treasurer Mark Scheiwer will step in as interim CFO as Scotts looks to execute a “turnaround” for its cannabis-focused subsidiary, where sales plummeted by 46% during its most recent quarter.  

    By • Nov. 26, 2024
  • Zoom founder Eric Yuan speaking on a podium
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    Zoom rebrands, aims to be known as ‘AI-first’ company

    “Zoom is now about so much more than video meetings,” CEO Eric Yuan said.

    By • Nov. 26, 2024
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    Macy’s says accountant hid as much as $154M in expenses

    The deliberately misleading accounting of expenses since the fourth quarter of 2021 did not disrupt cash management or vendor payments, Macy’s said.

    By • Nov. 25, 2024
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    SEC hits UPS with $45M fine for material misstatements

    The company overvalued its freight unit, one of its ‘worst-performing’ business segments, prior to the unit’s sale in 2021 for $800 million, the SEC said.

    By • Nov. 25, 2024
  • Evolv interim CEO Michael Ellenbogen delivering a statement on Nov. 21
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    Retrieved from Evolv/YouTube on November 22, 2024
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    Evolv CFO latest to depart during misconduct, revenue misstatement investigation

    The security technology provider will pay a weekly $50,000 fee to AlixPartners in exchange for the services of its director David Rawden as interim CFO.

    By • Nov. 22, 2024
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    SEC’s Gensler to step down Jan. 20 after robust rulemaking, enforcement

    The SEC, in one of its most far-reaching changes under Gensler, adopted rules to channel more trading of Treasury securities into central clearinghouses and curb illiquidity risks.

    By • Nov. 21, 2024
  • Walmart cart outside of a Florida supermarket on Nov. 18 24
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    Walmart CFO keeps eye on prices, tariffs

    Walmart is looking to continue to attract high-income consumers with the right price mix, even as CFO John Rainey anticipates price hikes in the face of potential tariffs.

    By • Nov. 20, 2024
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    Audit committees expand oversight to ESG, cybersecurity, AI: EY

    Nearly four out of five investors said boards should demonstrate expertise in climate, cybersecurity and other risks by detailing their work to limit such hazards, EY said.

    By • Nov. 18, 2024
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    Spirit CFO says post-pandemic airline sector is ‘unrecognizable’

    Budget carriers like bankrupt Spirit Airlines have been “disproportionately” affected by industry headwinds as they rely on “much slimmer margins,” CFO Fred Cromer writes.

    By • Nov. 18, 2024
  • Shot of Rivian EV truck in a parking lot on Aug. 2023
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    Justin Sullivan via Getty Images
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    Rivian CFO inks $3.5M trading plan as EV industry faces bumps

    President-elect Trump will likely ax the EV tax credit, a proviso of the Inflation Reduction Act, upon taking office in January. Critics say the move will badly impact EV competition.

    By • Nov. 18, 2024
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    Disney CFO highlights booming streaming growth

    Subscribers for its Disney+ Core platform grew by 4.4 million in Q4 as the company cracks down on password sharing and looks to improve customer engagement.

    By • Nov. 15, 2024
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    Jack in the Box brings back ex-CFO for second stint

    Lance Tucker will receive a $200,000 cash bonus upon taking Jack in the Box’s CFO seat for the second time.

    By • Nov. 13, 2024
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    GAAP is letting companies get away with anticompetitive mergers, researchers say

    Intangible assets aren’t being captured in the merger review thresholds that federal antitrust agencies rely on, a paper shows.

    By Robert Freedman • Nov. 13, 2024
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    Wall Street year-end bonuses forecast to jump as much as 35%

    For the first time since 2021, banks are gearing up to give bigger end-of-year bonuses to many employees, Johnson Associates says.

    By • Nov. 12, 2024
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    Xactly CFO looks to non-finance talent to fill accounting gaps

    Teaching employees without a traditional finance background to speak the language can help circumvent ongoing talent shortages, CFO Jason Godley said.  

    By • Nov. 12, 2024
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    Trump Media CFO plans to sell $13.4M in shares by Dec. 2025

    Donald Trump, three days after winning the Nov. 5 presidential election, sought to puncture rumors that he plans to sell Trump Media shares.

    By • Nov. 11, 2024
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    News Corp’s new CFO to receive $2.6M one-time equity bonus

    Lavanya Chandrashekar, 52, most recently CFO of beverage company Diageo, will replace Susan Panuccio, who has held News Corp’s finance reins since 2017. 

    By • Nov. 8, 2024
  • Federal Reserve Chair Jerome Powell.
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    Fed cuts rate by quarter point, sees ‘balanced’ risks to inflation, jobs

    The reduction in borrowing costs comes just two days after Donald Trump won a second term as president, heralding likely economic policy shifts that may fuel inflation.

    By • Nov. 7, 2024
  • The ADM logo is seen on the company's headquarters building.
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    Courtesy of ADM
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    ADM reveals more accounting errors, cancels earnings call

    The global grain trader’s accounting practices and internal controls have been under scrutiny since January when it revealed an internal probe was underway.

    By • Nov. 5, 2024