Financial Reporting: Page 3
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Pillar 2 tax heightens CFO need for quality data
In 2021 more than 130 countries agreed to implement Pillar 2, which seeks to set a global minimum effective tax rate of 15% for certain multinational enterprises.
By Grace Noto • March 6, 2024 -
Michael M. Santiago via Getty Images
Former Twitter CEO, CFO sue Musk for $128M in unpaid severance
Elon Musk vowed a “lifetime of revenge” against former Twitter leadership following the stormy lead-up to his takeover of the floundering social media site.
By Grace Noto • March 5, 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 -
Courtesy of FASB
FASB advances gross-up fix for CECL
In 2016 FASB sought to curb delays in recognizing deteriorated assets through its current expected credit losses standard that it is now revisiting.
By Maura Webber Sadovi • March 4, 2024 -
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93% of firms use a mix of ESG standards, thwarting uniformity efforts: IFAC
The spotlight on confusion from a jumble of ESG frameworks comes just days before a vote on an SEC rule aimed at ensuring uniformity in climate disclosure.
By Jim Tyson • March 4, 2024 -
Michael M. Santiago via Getty Images
Ex-Trump CFO Weisselberg pleads guilty to perjury
The ex-CFO will be sentenced to five months in jail after pleading guilty to two counts of perjury, according to reports, his second felony conviction in two years.
By Grace Noto • March 4, 2024 -
Courtesy of Lordstown Motors
SEC charges Lordstown Motors with misleading investors on sales outlook
Lordstown’s auditor and adviser also faces SEC sanctions for allegedly violating independence standards.
By Jim Tyson • March 1, 2024 -
Pascal Le Segretain via Getty Images
Clearing the tax ‘data swamp’: Thomson Reuters
To keep pace with emerging tax requirements, organizations need to change their processes as well as their technologies, Thomson Reuters’ Ray Grove said.
By Grace Noto • Feb. 29, 2024 -
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Microsoft rolls out Copilot AI tool to finance teams
The move is part of Microsoft’s effort to layer AI across its enterprise offerings, with the ambitious goal of impacting every role in the workplace.
By Alexei Alexis • Feb. 29, 2024 -
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Judge denies former View CFO motion to dismiss SEC complaint
The SEC had “adequately alleged facts” which allowed the court to reasonably infer negligence on the part of the ex-CFO, the judge said.
By Grace Noto • Feb. 28, 2024 -
Christopher Furlong via Getty Images
Orsted taps new CFO, COO in turnaround bid
The troubled offshore energy developer appointed new financial and operational leadership as it looks to get back on course following a turbulent 2023.
By Grace Noto • Feb. 27, 2024 -
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CFOs take backseat to CISOs on SEC cyber rules
Less than half of finance chiefs are involved in the SEC's cybersecurity breach disclosure process, AuditBoard found.
By Alexei Alexis • Feb. 27, 2024 -
Ethan Miller via Getty Images
MGM Resorts’ cyberattack headache continues as regulators launch investigations
The company said it could face fines in connection with regulatory inquiries stemming from the social engineering attack.
By David Jones • Feb. 26, 2024 -
Artem Peretiatko via Getty Images
New Prophix CFO: championing the ‘data steward’ shift
The “bird’s eye view” of the business provided by finance chiefs makes them ideal choices as stewards of data, Prophix CFO Aaron Levine says.
By Grace Noto • Feb. 22, 2024 -
Andrew H. Walker via Getty Images
Planet Fitness CFO retiring amid search for CEO
The announcement comes in the wake of the health-club chain’s abrupt decision last fall to oust then CEO Chris Rondeau.
By Alexei Alexis • Feb. 22, 2024 -
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 -
Ablestock via Getty Images
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 -
Michael M. Santiago via Getty Images
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 -
Spencer Platt via Getty Images
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 -
Alex Wong via Getty Images
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 -
Scott Olson via Getty Images
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 -
Michael M. Santiago via Getty Images
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 -
Shutterstock/ Lemonsoup14
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
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