Financial Reporting: Page 2


  • A group of young protesters marching fill the frame with signs that read "Planet Over Profit" and "Climate Justice" with a sunflower sprouting bottom to top as the "i" in climate and "t" in justice.
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    Spencer Platt/Getty Images via Getty Images
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    Sierra Club, NRDC drop legal challenges to SEC climate rule

    The two environmental groups have decided to focus resources elsewhere to improve climate-related financial disclosures.

    By Lamar Johnson • June 6, 2024
  • Headshot of Toast CFO Elena Gomez
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    Courtesy of Toast Inc
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    Toast CFO aims to build ‘enduring’ company on path to profitability

    Three years after Toast went public, thinking strategically about building a team for the future was one of her most important early priorities, said CFO Elena Gomez.

    By June 6, 2024
  • 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
  • Richard Jones
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    Courtesy of Pat Dorsman for FAF
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    FASB seeks comment on narrow hedge accounting fix

    Despite a unanimous vote, some board members expressed concern the proposed improvements to GAAP hedging guidance do not go far enough.  

    By June 5, 2024
  • A gray four-door crossover vehicle with a woman seated with her hand on the steering wheel is parked in front of a Hertz building.
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    Courtesy of Hertz/GM
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    Hertz poaches Spirit Airlines CFO

    Less than a year after taking the permanent CFO seat, Alexandra Brooks is exiting the rental car company as it struggles to manage its bold EV bet.

    By June 3, 2024
  • Person shopping inside a Costco store.
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    Joe Raedle via Getty Images
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    Costco’s CFO calls $1.50 hot dog ‘safe’ in debut earnings call

    The retailer’s new finance chief Gary Millerchip is staying the course on the company’s popular $1.50 hot dog and soda combo pricing.

    By May 31, 2024
  • Luke Bryan performing on stage for a FanDuel brand party at the 2024 Kentucky Derby
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    Jeff Schear via Getty Images
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    FanDuel parent Flutter swaps CFOs amid pivot to NYSE listing

    The CFO swap comes as Flutter hones in on the U.S. for future growth and expansion. 

    By May 31, 2024
  • A Bluebird bio employee works at a laboratory.
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    Permission granted by Bluebird bio
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    Bluebird names new CFO after accounting errors

    The biotech company is revising financial statements for 2022 and the first three quarters of 2023 following the discovery of accounting missteps.

    By May 30, 2024
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    kali9 via Getty Images
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    Jacobs-led QXO taps Barclays alum as first finance chief

    M&A “heavy hitter” Ihsan Essaid will take the top financial seat as QXO looks to become a market leader in the building product distribution space.

    By May 28, 2024
  • A sign is posted in front of the Nvidia headquarters on May 10, 2018 in Santa Clara, California
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    Justin Sullivan via Getty Images
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    Nvidia shows off strength of AI with 262% sales jump

    “The next industrial revolution has begun,” Nvidia CEO Jensen Huang said during an earnings call last week.

    By May 28, 2024
  • People walk past the exterior of a Timberland storefront.
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    Matthew Eisman/Getty Images for Pandora Media via Getty Images
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    Spotify vet tapped for VF Corp.’s CFO chair

    The appointment is part of a broader leadership shake-up at the struggling footwear company as it tries to restore profitable growth. 

    By May 23, 2024
  • A conference participant walks past a spinning representation of Planet Earth during the UNFCCC COP27.
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    Sean Gallup via Getty Images
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    Opinion

    3 ESG lessons CFOs can learn from SOX compliance

    ESG reporting may be a relatively new challenge but there is nothing new about C-suite leaders facing “perfect storm” reporting requirements, Wolters Kluwer's Alessio Lolli writes.

    By Alessio Lolli • May 23, 2024
  • A sunlit New York Stock Exchanges is seen with 6 columns and 3 American flags with people walking by in shadow.
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    Drew Angerer via Getty Images
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    SEC fines NYSE’s parent $10M for failing to report cyberattack

    The settlement sheds light on the costs of cyberattacks that can include penalties for non-compliance with timely disclosure requirements after the events occur.

    By May 22, 2024
  • A black sign that says Red Lobster that is outside of a building that also says Red Lobster
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    Justin Sullivan via Getty Images
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    Red Lobster’s ‘erratic’ payments to vendors among bankruptcy warning signs: Creditsafe

    The company’s average “days beyond terms” jumped from 15 in December to 30 in January, reaching 57 as of March.

    By May 22, 2024
  • Two corporate businessmen shaking hands while one man places money in the other's pocket.
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    PeopleImages via Getty Images
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    More small companies willing to distort books to hide corruption: ACCA

    The U.S. has made little progress combating corruption since 2021, according to Transparency International.

    By May 21, 2024
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    AnkiHoglund via Getty Images
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    Cerence CFO departs after two month tenure

    Tempesta’s resignation marks the latest in a series of relatively short-tenured finance chiefs for Cerence as it faces a securities class action lawsuit and slumping revenues.

    By May 20, 2024
  • Businessman analyzing digital financial balance sheet of company working with digital virtual graphic design. Calculating long-term investment financial data icon on touch screen
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    Sakorn Sukkasemsakorn
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    Nonprofit MDA CFO attributes $5M cost reduction to streamlined operations, tech

    Since rising to the CFO chair in 2018, Michael Kennedy pared down the nonprofit’s back-end from 65 systems to one platform.

    By May 16, 2024
  • Kyriba's yellow logo appears to be painted on doors painted green.
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    Courtesy of Kyriba
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    First-time CFO looks to sharpen Kyriba’s FP&A approach

    Adam Drew in March became the San Diego, California-based treasury and finance platform provider’s first permanent CFO in more than a year. 

    By May 16, 2024
  • Northrop Grumman's E-2D Advanced Hawkeye aircraft, which conducted a test flight near St. Augustine, Florida.
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    U.S. Navy. (31 March 2009). "Northrop Grumman's E-2D Advanced Hawkeye aircraft" [Photograph]. Retrieved from Wikimedia Commons.
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    Northrop Grumman names new CFO in leadership shake-up

    The transition comes on the heels of some volatility in the defense industry giant’s financial performance.

    By May 15, 2024
  • A photo of the street sign for Wall Street, in front of a row of American flags.
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    hapabapa via Getty Images
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    Brex CFO mulls long-term IPO scenario but keeps eye on costs, ROI

    The prevailing attitude among companies seeking to go public is to achieve profitability beforehand, Ben Gammell said.

    By May 14, 2024
  • Header image for "Audit Regulators Vow a Tougher Regime"
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    CFO Editorial Staff
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    PCAOB adopts updated ‘foundational’ rules requiring faster audit filing

    The U.S. audit watchdog updated standards created two decades ago and aligned regulation with changes in technology.

    By May 13, 2024
  • Ex-Trump CFO Allen Weisselberg arrives for sentencing at an NY court.
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    Michael M. Santiago via Getty Images
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    Ex-Trump CFO Weisselberg could appear in hush money trial: Reports

    The terms of Allen Weisselberg’s $2 million severance agreement are under a spotlight once again as Trump’s latest legal battle with New York state unfolds.

    By May 13, 2024
  • Richard Jones
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    Courtesy of Pat Dorsman for FAF
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    FASB crafts workarounds to proposed expense rule’s pain points

    On the heels of new crypto accounting rules, the FASB’s proposed expense standards also represent a big change for many public company report preparers.

    By May 10, 2024
  • Conference goers walk past the Ford display at a New York auto show
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    Spencer Platt via Getty Images
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    Ford CFO tapped as vice chair; Lucid Motors exec set to succeed

    Ex-Lucid Motors CFO Sherry House will receive a $1.2 million cash sign-on bonus as Ford's VP of finance.

    By May 10, 2024
  • A hand holds a phone open to the Nerdwallet app tracking personal finance details
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    Courtesy of Nerdwallet
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    Nerdwallet CFO champions user growth in face of credit, lending headwinds

    The former eBay and StubHub executive is keeping her eye on uncertainty in the banking sector and other headwinds following a mixed quarter.

    By May 9, 2024
  • A digital outline of a brain with lights emerging from the stem, creating a half circle that looks like the globe.
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    dem10 via Getty Images
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    Generative AI enables small accounting firms to challenge big ones: AICPA

    Accountants should respond to the rapid pace of generative AI adoption by embracing it and delving into experimentation, the AICPA said.

    By May 7, 2024