Financial reporting: Page 3

Deregulation critic Allison Herren Lee named acting SEC chair

The financial regulation specialist has been a voice against weakening the oversight structure protecting investors.

By Robert Freedman • Jan. 23, 2021

Deep Dive

SEC to take harder line on financial reporting, attorneys say

COVID-19 and ESG disclosures, information controls and SPACs could receive increased scrutiny, along with accuracy of filings as part of Biden’s SEC approach. 

By Robert Freedman • Jan. 21, 2021

Explore the Trendline➔

Trendline

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

IRS postpones date for companies to repay deferred payroll taxes

Companies now must repay 2020 taxes delayed as part of pandemic-related relief by Dec. 31, rather than April 30.

By Jim Tyson • Jan. 21, 2021

Yellen: Small business, COVID-19 aid more important than deficits right now

The Biden Administration wants to amend rather than repeal the 2017 tax law by eliminating some benefits to large companies and the highest-income taxpayers, the Treasury nominee said during her confirmation hearing.

By Jim Tyson • Jan. 20, 2021

Zoom raises $2B in stock offering, preferring flexibility of equity

Zoom's equity raise exceeded its initial target and provides additional flexibility on the balance sheet.

By Jim Tyson • Jan. 20, 2021

Former Clinton CFO, CFTC head Gary Gensler expected to be named SEC chief

Should the Senate confirm the long-time Washington policymaker, he will likely prioritize ESG reporting and tighter regulatory safeguards.

By Robert Freedman • Jan. 14, 2021

North American M&A deal volume hits record Q4, survey finds

Although deal-makers shook off the pandemic during the fourth quarter, total global transactions fell last year to the lowest level since the mortgage finance crisis.

By Jim Tyson • Jan. 12, 2021

As fraud rises, CFOs must approach numbers skeptically, report finds

Executives might be committed to accuracy, but middle managers and others throughout the organization must be on board, too.

By Robert Freedman • Jan. 12, 2021

Middle market CFOs predict 'extraordinary' growth in 2021, survey finds

After an unprecedented year, CFOs anticipate recovery and new opportunities, the 2021 BDO Middle Market CFO Outlook Survey, released Monday, found.

By Jane Thier • Jan. 11, 2021

Top red flags CFOs accidentally raise on earnings calls

Transparency is typically the issue when finance leaders' comments spark concern.

By Ted Knutson • Jan. 07, 2021

2020 CFO Dive trends to watch

FASB expected to look at goodwill, expense reporting this year

The two issues could prove contentious for the accounting standards organization. 

By Jim Tyson • Jan. 04, 2021

China's Luckin Coffee falsified sales; hit with $180M SEC fine

The company misstated earnings and revenue to suggest it was achieving rapid growth and increased profitability when it wasn't, the agency says in its settlement agreement. 

By Robert Freedman • Dec. 17, 2020

Capitalize talent, ESG values, academic says

There is a plausible way to measure internally generated intangibles under GAAP, according to Professor Marvin Weiss.

By Robert Freedman • Dec. 16, 2020

SEC's cooperation credit an olive branch that can come with thorns

Clarity would help companies weigh the cost of cooperation against the benefit they might, or might not, receive in return, enforcement specialists say.

By Ted Knutson • Dec. 15, 2020

SEC fines GE $200M, disclosure failures of cost estimate changes at core of penalty

The company never disclosed some profits from its power business stemmed from changes to cost estimates, not increased business, the SEC alleges. 

By Robert Freedman • Dec. 10, 2020

SaaS metrics are often misreported

As non-GAAP measures, these metrics might be based on variables other companies don’t share, but they can be made more accurate, says SaaStr head Jason Lemkin.

By Robert Freedman • Dec. 07, 2020

Cheesecake Factory misled on COVID-19 disclosures, SEC says

The company told the SEC it was operating sustainably, but only had 16 weeks of cash available.

By Robert Freedman • Dec. 05, 2020

2020 MIT Sloan CFO Virtual Summit: Full coverage

Sustainability reporting nearly universal among large companies, survey finds

Although some reporting standards are widely used, there isn’t a single framework for companies to ensure accurate measurement and communication of their environmental impact, a KPMG survey found. 

By Robert Freedman • Dec. 02, 2020

Salesforce CFO to depart amid landmark Slack deal

In an earnings release Tuesday, CEO Marc Benioff announced Chief Legal Officer Amy Weaver will step in as the next finance chief. 

By Jane Thier • Dec. 02, 2020

How to best manage ESG disclosures

Environmental, social and governance reporting will likely become mandatory for public companies, specialists say. CFOs should figure out best practices now.

By Ted Knutson • Nov. 24, 2020

Most important part of financial planning? Communication.

"This is when we need to show what leadership is all about," Judy Romano, CFO of commercial and technology for InterContinental Hotels Group, said on a virtual MIT Sloan CFO Summit panel Friday. 

By Jane Thier • Nov. 23, 2020

GM CFO: Sales recovering 'faster than expected'

In its third quarter earnings release, interim CFO John Stapleton said the company has earned $4.1 billion, up 64% from $2.5 billion in the third quarter of 2019.

By Jane Thier • Nov. 05, 2020

Violators pay SEC a record $4.7B in judgments

The agency brought hundreds of enforcement actions against companies and individuals in the fiscal year just closed, despite the pandemic. 

By Robert Freedman • Nov. 04, 2020