Gensler says SEC may tighten rules to avert insider-trading abuses: WSJ

SEC Chair Gary Gensler said he has asked agency staff to “use all the tools in our toolbox” to punish executives who abuse plans for trading in their own company’s shares.

By Jim Tyson • June 7, 2021

SPAC warrant restatements won't hit credit, Moody's says

Amending past financial statements to account for the shift in warrant accounting from equity to liability is just a technical change, according to an analysis.

By Robert Freedman • June 7, 2021

AbbVie used 2017 law to lower taxes to 9.5% from 20%: investigation

The Senate Finance Committee announced an investigation into the pharmaceutical company's global tax practices as Biden pushed a broad effort to boost corporate tax revenue.

By Jim Tyson • June 3, 2021

Avoiding ASC 470 debt modification mistakes

Many companies restructured debt during the pandemic; accounting for that can be fraught with risk if you misapply the rules, reporting specialists say.

By Ed McCarthy • June 3, 2021

Travel rebound currently leisure-driven, but business will follow: Hilton CFO

"We're not a huge believer in a new normal; sorry," Kevin Jacobs said last week. He fully expects business travel to reach pre-pandemic levels within the next two years.

By Jane Thier • June 1, 2021

Nearly 40% of large companies pose biodiversity threat: Moody's ESG study

A Moody’s study aimed at measuring “biodiversity risks” in investment and lending portfolios found that 38% of 5,300 global companies operate at least one facility causing loss of habitat.

By Jim Tyson • May 28, 2021

Gensler pledges tough SEC scrutiny of SPACs, warning of fraud risk

The SEC will “closely look” at each stage of SPAC financing to ensure adequate investor safeguards, Chair Gary Gensler said in congressional testimony.

By Jim Tyson • May 27, 2021

New data analysis may help predict pandemic recovery: AstraZeneca FP&A head

The coronavirus sped up adoption of automation at AstraZeneca and generated datasets that may help forecast recovery, according to the company's FP&A director.

By Jim Tyson • May 25, 2021

Target CFO: 'Theme for the quarter is growth on growth'

The retailer's fulfillment services and portfolio of private labels across multiple categories have kept shoppers hooked post-2020.

By Maria Monteros • May 24, 2021

Airbnb CFO 'highly confident a rebound is coming'

"All the early indicators" suggest the online vacation rental marketplace will return to pre-pandemic operating levels within the year, Dave Stephenson said last week. 

By Jane Thier • May 19, 2021

SPAC warrant resolution said to be in works

Legal and accounting specialists are developing a type of warrant that can be treated as equity, but it’s weeks away and needs SEC approval.

By Robert Freedman • May 17, 2021

Most companies increase spending on diversity training: survey

Roughly four in five companies are increasing their budgets for diversity training and for managing their performance in sustainable business practices, a OneStream Software survey found.

By Jim Tyson • May 13, 2021

Following first quarter rebound, Applebee's, IHOP parent hires new CFO

On June 14, Vance Chang will replace Dine Brand's corporate controller and interim CFO Allison Hall, who is moving into the chief accounting officer role.

By Jane Thier • May 12, 2021

Bill seeks to shine light on companies' global profit shifting

The "Disclosure of Tax Havens and Offshoring Act" would require companies to identify their profits and taxes on a country-by-country basis.

By Robert Freedman • May 12, 2021

Lack of automation preventing efficient financial close: CFO survey

Due to ineffective processes and technology, 51% of CFO respondents to Trintech's Global Financial Close Benchmark Report cited meeting deadlines and time pressures as their biggest challenges this year.

By Jane Thier • May 11, 2021

Half of companies lack LIBOR phase-out plan: Duff & Phelps

Despite regulatory pressure, more than half of financial services firms have not determined when they will stop using LIBOR in new contracts, according to a Duff & Phelps survey.

By Jim Tyson • May 10, 2021

Companies ignoring ESG may become 'uninvestable,' says investment bank chief

Interest in sustainability goals is growing "enormously" and companies that ignore the trend risk rejection by investors, according to Larry Wieseneck, co-president of investment bank Cowen.

By Jim Tyson • May 7, 2021

Corporate tax rate unlikely to rise above 25%

Along with the tax hike, mandatory ESG reporting and the treatment of remote workers are priorities that stand a good chance of congressional passage this year, a lobbyist for the accounting profession says.

By Robert Freedman • May 7, 2021

Under Armour hit with $9M fine for undisclosed 'pull forwards'

The company accelerated revenue without disclosing material information to investors about the practice, the Securities and Exchange Commission says.  

By Robert Freedman • May 4, 2021

SEC hits companies for hiding restatements before seeking filing delays

The agency used data analytics to identify companies that sought a filing delay and then shortly afterward announced a correction to a previous filing. 

By Robert Freedman • May 3, 2021

Deutsche Bank posts strong quarter, OKs 3-day remote work: CFO

James von Moltke said the bank, going forward, intends to let employees work from home 40-60% of the time.

By Jane Thier • April 29, 2021

Multinationals reported $6.16B in negative forex exposure for Q4: study

A decline in negative foreign exchange impact during the fourth quarter was probably "the calm before the storm" that likely occurred during the first quarter of 2021, according to Kyriba.

By Jim Tyson • April 29, 2021

SEC said to be weighing SPAC disclosure guidelines

Whether or not guidance is issued, the agency is signaling concerns over "frothy" forward-looking statements in the hot alternative IPO market.

By Robert Freedman • April 29, 2021

HSBC CFO: Bank 'very much' wants to shift to hybrid working model

"We've basically baked in about half of the cost of travel going forward," finance chief Ewen Stevenson says. 

By Jane Thier • April 27, 2021

As probe continues, Trump Organization CFO's past comments emerge

In a recently unearthed deposition from 2010, Trump Organization CFO Allen Weisselberg, who is under investigation, said he steers clear of the “legal side” of the former President's business dealings. 

By Jane Thier • April 26, 2021