Financial reporting: Page 2

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    Courtesy of Sigyn Therapeutics

    New Sigyn CFO maps Nasdaq uplist, shelf registration strategy

    Sigyn's Jeremy Farrell is preparing to issue more shares even as some companies are shying away from tapping equity amid rising stock market volatility.

    By April 7, 2022
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    Federal auditor watchdog fines former KPMG vice chair $100,000

    The Public Company Accounting Oversight Board fined the former head of KPMG’s U.S. audit business soon after releasing a report on how audit firms can improve their work.

    By April 6, 2022
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    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
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    Goodwill impairment expected to rise, reverse course in 2022: Kroll

    The anticipated increase in goodwill impairment this year comes after the pandemic and the subsequent economic recovery whipsawed levels in recent years, according to Kroll data. 

    By April 6, 2022
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    Russian invasion impact challenges auditors: PCAOB

    Auditors need to be on alert for several business disruptions from Russia’s invasion of Ukraine that increase the risk that companies will misstate financial results, a federal regulator said.

    By April 4, 2022
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    Sponsored by InnoVyne Technologies

    Evaluate the financial health of your company - numbers aren't everything!

    Reading simple data does not determine the company's financial health. There's more to it.

    April 4, 2022
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    FASB update nixes separate accounting for troubled debt restructurings

    As an alternative to calculating TDR, creditors that have implemented current expected credit losses (CECL) standards are to disclose their restructurings for distressed borrowers. 

    By Robert Freedman • April 1, 2022
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    SEC proposes tougher disclosure rules for SPACs

    A Securities and Exchange Commission proposal caps months of sharper scrutiny of SPACs and coincides with a slump in the market for the so-called blank-check companies.

    By March 30, 2022
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    Juicier 100% meals tax deduction may nudge CFOs back to expense reports

    The temporary hike in the tax deduction companies can take on eligible business meal expenses could be a welcome bright spot for CFOs bracing for rising costs from road warriors returning to in-person meetings, experts say. 

    By March 29, 2022
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    Financial statement fraud – reconciliation to the rescue

    Financial fraud in the business world has many forms; the most difficult to detect, and expensive one being financial statement fraud.

    By Abhishek Shukla, Practice Lead; and Raman Deep Kedia, Domain Principal, Infosys BPM • March 29, 2022
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    Data pose biggest hurdle to ESG disclosure: Deloitte

    Gathering credible data on greenhouse gas emissions by suppliers and other third-party business partners has emerged as one of the most difficult steps in sustainability reporting.

    By March 25, 2022
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    SEC accepts FASB's 2022 reporting taxonomies

    The 2022 reporting taxonomies include updates to accounting standards on credit losses and balance sheet offsets, among other things, the Financial Accounting Standards Board says. 

    By March 23, 2022
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    The impact of ASC 842 – The new lease standard is here

    It is time for contractors to get serious about the new accounting lease standard.

    March 21, 2022
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    Private capital is ready to fund climate, social goals, if companies get ESG measurement right

    CFOs can get an idea of what to expect from the SEC and other federal agencies by looking at what California and New York are considering.

    By Donavan Hornsby • March 17, 2022
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    FASB leaning toward making customer relationships part of goodwill, not separate intangible

    Although the Financial Accounting Standards Board took no action on the matter at its early-March meeting, members signaled they’d like to stop counting a company’s customer relationships as an asset. 

    By Robert Freedman • March 14, 2022
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    CFOs chase products as war clouds supply chain outlook

    “We believe that through 2022, the supply chain will be the fundamental limiting factor to our total output for the year,” Rivian Automotive CFO Claire McDonough said.

    By March 12, 2022
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    Problems happen, but lax controls shouldn't, SOX specialist says

    Understand which processes need watching and which don’t, CFOs new to Sarbanes-Oxley are advised.

    By Robert Freedman • March 4, 2022
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    Fast-tracked private letter rulings offer corporations respite from IRS delays

    While the promise of a speedier program is a bright spot during a time of IRS backlogs, the PLR process is not an avenue that financial executives can use to make an end-run around unrelated delays, said Buck Buchanan, managing director in Grant Thornton’s national tax office.

    By Feb. 22, 2022
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    IRS delays spell headaches for financial executives

    Businesses are “facing an IRS that is underwater right now, given the backlog of paper returns,” said Garrett Watson, a senior policy analyst at the Tax Foundation.

    By Feb. 15, 2022
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    Mazars exit could leave Trump Org. in breach of loan agreements

    Separate from any findings by prosecutors, the breached loan agreements could pose a big financial hit to the company, a former assistant attorney general says. 

    By Robert Freedman • Feb. 15, 2022
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    Treating commissions as fixed assets to meet rev rec standards

    Capitalizing and amortizing incremental costs to get a contract to closing is little different than accounting for, say, equipment, a compliance specialist suggests.

    By Robert Freedman • Feb. 14, 2022
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    Senate prepares relief for tough LIBOR legacy contracts

    The long-awaited federal legislation would switch a large portion of $1.9 trillion in financial contracts to the Secured Overnight Financing Rate approved by the Federal Reserve.

    By Feb. 9, 2022
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    Private equity firm KKR sees appetite in assets with strong yield potential

    As inflation expectations rise KKR is seeing more interest in real estate and infrastructure assets, Co-CEO Scott Nuttall said on the company's fourth quarter earnings call. 

    By Feb. 8, 2022
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    More states step up to guide LIBOR transition, provide stopgap solution

    States are recognizing that they may not be able to wait for a federal solution. 

    By Feb. 3, 2022
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    FASB to require disclosure of loan modification cash flow impacts

    The Financial Accounting Standards Board also wants lenders to report on current-year gross write-offs by year of origination.

    By Robert Freedman • Feb. 3, 2022
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    DE&I gains in private equity firms despite being rare deal-breaker – EY

    Private equity firms are feeling some pressure from limited partners to pursue diversity, equity and inclusion initiatives, according to Kyle Burrell of EY.

    By Feb. 2, 2022