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 Maura Webber Sadovi • March 23, 2022

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

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

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

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 Maura Webber Sadovi • March 12, 2022

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

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 Maura Webber Sadovi • Feb. 22, 2022

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 Maura Webber Sadovi • Feb. 15, 2022

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

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

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 Maura Webber Sadovi • Feb. 9, 2022

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 Maura Webber Sadovi • Feb. 8, 2022

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 Maura Webber Sadovi • Feb. 3, 2022

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

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 Maura Webber Sadovi • Feb. 2, 2022

Office rent decline gives CFOs potential cost-saving opportunities

Since early in the pandemic, effective U.S. office rents have fallen 13.3% and office vacancies have risen to a nearly 20-year high, according to Cushman & Wakefield. 

By Maura Webber Sadovi • Jan. 31, 2022

C-suite sees war for talent topping risks in 'expensive' 2022: PwC

Executives will face rising travel costs this year as the pandemic evolves into an endemic, according to Tim Ryan of PwC. 

By Maura Webber Sadovi • Jan. 27, 2022

Kraft Heinz looks inside to tap new CFO Andre Maciel

Maciel has the type of cultural profile that 3G Capital likes and the skill set they love, according to Josh Crist, co-managing partner at Crist | Kolder Associates. 

By Maura Webber Sadovi • Jan. 25, 2022

Conductor's first female CFO pushes her own boundaries to join former WeWork company

A self-described risk-averse person by nature, Conductor's Sherri Moyen says she's been inspired by Sheryl Sandberg and others to choose risk over comfort.

By Maura Webber Sadovi • Jan. 14, 2022

Workiva's Klindt sees regulations as key to more ESG buy-in

Anticipated SEC rules on ESG reporting could bring more firms off the sidelines. 

By Maura Webber Sadovi • Jan. 13, 2022

Annovis Bio CFO looks to shelf registration, big pharma for capital runway

While investor enthusiasm for the Alzheimer's treatment space has flip-flopped, CFO Jeffrey McGroarty has shored up a capital lifeline through a shelf registration.

By Maura Webber Sadovi • Jan. 7, 2022

FASB proposes seller financing disclosure

Companies that use a third party to pay suppliers would have to describe the arrangement, and the liability it poses, in the notes to their financials, the Financial Accounting Standards Board says.

By Robert Freedman • Dec. 21, 2021

Unlocking the strategic value of third-party valuations

Most CFOs plan to continue using valuations as a tool for informed decision-making even if the Financial Accounting Standards Board replaces impairment testing with an amortization model for calculating goodwill, as it's thinking of doing. That's a smart strategy. 

By Bryan Knoepp and Irina Chernova • Dec. 20, 2021

Investors call for unified global goodwill standards

Should the Financial Accounting Standards Board (FASB) switch to an amortization model, U.S. companies could lose 40% of their equity, according to one estimate.  

By Maura Webber Sadovi • Dec. 17, 2021

Getting started on ESG reporting

Thoughtful guidance is coming, but there are steps you can take now to meet investors' appetite for reporting that shows your organization is taking environmental, social and governance performance seriously.   

By John Truzzolino • Dec. 16, 2021