Financial Reporting: Page 24
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Courtesy of Honda Aircraft Co.
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 Jim Tyson • Feb. 22, 2024 -
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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 Jim Tyson • Feb. 21, 2024 -
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TrendlineCFO 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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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 Grace Noto • Feb. 21, 2024 -
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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 Grace Noto • Feb. 20, 2024 -
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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 Grace Noto • Feb. 16, 2024 -
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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 Maura Webber Sadovi • Feb. 16, 2024 -
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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 Jim Tyson • Feb. 15, 2024 -
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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 Alexei Alexis • Feb. 14, 2024 -
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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 Grace Noto • Feb. 14, 2024 -
Courtesy of Hewlett Packard Enterprse
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 Maura Webber Sadovi • Feb. 12, 2024 -
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Sponsored by Oak Point PartnersInnovative 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 -
Courtesy of Enerpac
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 Grace Noto • Feb. 9, 2024 -
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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 Maura Webber Sadovi • Feb. 8, 2024 -
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Ex-CFO’s alleged perjury should not impact Trump civil fraud decision, lawyers say
Reports of potential perjury raise questions about the credibility of the former finance chief’s testimony during the Trump Organization’s civil fraud trial.
By Grace Noto • Feb. 8, 2024 -
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Walgreens names permanent CFO in management shakeup
The pharmacy chain’s recently-installed CEO announced executive team changes as the company looks for a fresh start after financial struggles.
By Alexei Alexis • Feb. 8, 2024 -
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CEO, CFO compensation clawback helps tech firm skirt SEC fine
Cloopen Group avoided civil penalties after cooperating with the agency and taking remedial steps, despite an accounting fraud scandal that triggered SEC charges.
By Alexei Alexis • Feb. 7, 2024 -
Stephanie Keith via Getty Images
Ex-Trump CFO could face prison again, experts say
Judge Arthur Engoron shone a spotlight on the ex-CFO’s credibility in a Tuesday email, asking attorneys in the Trump civil fraud case for clarity on the potential plea.
By Grace Noto • Feb. 6, 2024 -
(Justin Sullivan/Getty Images) via Getty Images
Clorox says it incurred $49M in costs from 2023 cyberattack
The breach caused system disruptions that led to order processing delays and “significant product outages,” negatively impacting net sales and earnings.
By Alexei Alexis • Feb. 6, 2024 -
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Solo Brands appoints Vitamin Shoppe exec as new CFO
The leadership swap comes after Solo replaced its CEO and lowered its revenue guidance for 2023 following disappointing sales.
By Grace Noto • Feb. 5, 2024 -
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Enterprise cloud spend jumped in Q4, nudged upward by AI
The power balance among AWS, Microsoft and Google Cloud shifted slightly as infrastructure services saw the largest ever quarter-over-quarter market expansion recorded by Synergy Research Group.
By Matt Ashare • Feb. 5, 2024 -
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Ex-Trump CFO in perjury plea talks: NY Times
A potential deal requiring ex-Trump CFO Allen Weisselberg admit to perjury comes as a ruling is imminent in the NY AG’s $370 million civil fraud case.
By Grace Noto • Feb. 2, 2024 -
Courtesy of Sanofi
Sanofi appoints Nestlé executive as new finance chief
François-Xavier Roger will replace current CFO Jean-Baptiste Chasseloup de Chatillon as Sanofi continues a research pivot and cost-cutting drive.
By Delilah Alvarado • Feb. 1, 2024 -
"U.S. Securities and Exchange Commission headquarters" by AgnosticPreachersKid is licensed under CC BY 3.0
SEC wins legal victory against former tech CFO in accounting fraud case
Former CFO Karen Rosenberger is accused of helping software provider Synchronoss to engage in “long-running accounting improprieties.”
By Alexei Alexis • Jan. 31, 2024 -
Justin Sullivan via Getty Images
Microsoft rides AI fervor to $62B in sales
The company’s move to incorporate AI has represented “a real pivot of our investment infrastructure,” CFO Amy Hood said.
By Grace Noto • Jan. 31, 2024 -
"U.S. Securities and Exchange Commission headquarters in Washington, D.C., near Union Station" by AgnosticPreachersKid is licensed under CC BY 3.0
Aon pays $1.5M SEC penalty over key return rate discrepancies
The Pennsylvania pension fund staff repeatedly raised questions about Aon’s return rate calculations, noting a 37 basis point discrepancy, the SEC found.
By Maura Webber Sadovi • Jan. 29, 2024
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