Auditors can improve non-GAAP measures, group says

Inconsistent calculation of EBITDA and other metrics not used in formal reporting can be made more informative if they're subject to external review.  

By Robert Freedman • Oct. 1, 2020

Ex-Amazon tax manager hit with insider trading

The employee had access to calculations used to finalize numbers in the company's quarterly and annual earnings filings. 

By Robert Freedman • Sept. 29, 2020

Explore the Trendline➔

CFO 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

Using data-analytics tool, SEC catches two companies' accounting violations

In a first, the agency used risk-based data analytics to uncover accounting and disclosure violations in the way the companies manage and disclose their earnings. 

By Robert Freedman • Sept. 28, 2020

SEC hits BMW with $18M fine for false sales disclosures

 Investors who purchased some $18 billion in company bond offerings were misinformed about the pace of the company's U.S. sales.  

By Robert Freedman • Sept. 27, 2020

Revolution Lighting hit with SEC accounting violations

The company is alleged to have inflated its reported revenues over a four-year period. The former CEO and CFOs of the company's largest division are among executives charged with falsifying information. 

By Robert Freedman • Sept. 24, 2020

Peloton CFO: Company doesn't 'want, or need, gyms to die' to maintain growth

Jill Woodworth said the company's total recorded workouts, reaching almost 77 million in the quarter, is the KPI of which she is most proud.

By Jane Thier • Sept. 14, 2020

CFOs face a new way of disclosing risk under SEC Regulation S-K changes

New requirements are less prescriptive and more principles-based, which could mean a less consistent approach to enforcement.

By Ted Knutson • Sept. 3, 2020

Following strong Q2, Zoom CFO says video conferencing is here to stay

Even after in-person gatherings return, video conferencing will remain a fixture in business, education and communication, and "will be a part of our lives forever," Zoom finance chief Kelly Steckelberg said.

By Jane Thier • Sept. 2, 2020

BorgWarner materially misstated its financial statements: SEC

In a settlement over its accounting for asbestos-related liability, the motor vehicle parts manufacturer agreed to pay a $950,000 penalty.   

By Robert Freedman • Aug. 27, 2020

Super Micro Computer, CFO charged with speeding up revenue recognition

In the settlement, the company will pay $17.5 million, the CFO will pay $350,000, and the CEO will have $2.1 million in stock profits clawed back.  

By Robert Freedman • Aug. 26, 2020

Wall nonprofit said to have used shell entities to pass donations to officers

We Build the Wall is charged with using a shell nonprofit, a veiled corporation and two anonymous associates as part of an effort to pass payments to officers.

By Robert Freedman • Aug. 24, 2020

Improper revenue recognition tops SEC fraud cases

Attorneys who work with SEC whistleblowers walk through the 10 most common types of fraud in an Accounting Today analysis.  

By Robert Freedman • Aug. 20, 2020

3 tips for CFOs looking to migrate to a subscription pricing model

Tip one: Resist moving revenue recognition outside of your ERP, otherwise you decrease visibility into the success of your subscription model and create reporting, tracking and compliance problems. 

By Katrina Gosek • Aug. 19, 2020

Financial irregularities at heart of lawsuit to dissolve NRA

Whistleblowers within the organization's finance department helped shed light on practices targeted by a New York Attorney General's lawsuit.

By Robert Freedman • Aug. 10, 2020

FASB rule simplifies accounting for convertible instruments

The new rule is expected to improve financial reporting associated with accounting for convertible instruments and contracts in an entity's own equity.

By Robert Freedman • Aug. 6, 2020

Pharma, former executives charged with misleading financial disclosures

Quebec, Canada-based Valeant Pharmaceuticals misstated revenue transactions and included erroneous revenue allocations, the Securities and Exchange Commission said. 

By Robert Freedman • Aug. 5, 2020

HeadSpin said to be returning $95M after review finds irregularities

The app-testing startup was on pace to have $15 million in annual recurring revenue, not $100 million it had told investors, according to The Information.

By Robert Freedman • Aug. 4, 2020

SEC charges aircraft parts leasing company, CEO with fraud

Integrity Aviation & Leasing raised $14 million from investors, little of which went towards purchasing engines and other aircraft parts for leasing to major airlines as promised, the SEC said.  

By Robert Freedman • Aug. 2, 2020

Pandemic to heighten internal reporting challenges

As staff work remotely, finance leaders are paying an even higher price in opportunity costs to release recurring reports, a reporting software executive says.   

By Robert Freedman • July 31, 2020

CFOs: FP&A and accounting must speak the same language

Poor coordination between backward-looking and forward-looking finance functions eats up time and resources better spent elsewhere. 

By Robert Freedman • July 30, 2020

Chipotle CFO: Restaurant closures have had 'no impact' on sales

Digital sales are up 200% from last year, helping to keep Chipotle on top, CFO Jack Hartung said.

By Jane Thier • July 26, 2020

Ally Financial CFO: Q2 performance 'stronger than anticipated' after 58% earnings drop

Despite unknowns in the current economic environment, "stimuli support programs and proactive customer engagement actions have driven encouraging trends," CFO Jennifer LaClair said.

By Jane Thier • July 20, 2020

Domino's CFO to retire as pizza chain records strong Q2

The Ann Arbor, Michigan-based pizza delivery chain shared surging sales and the retirement of its 20-year CFO on its earnings call Thursday. 

By Jane Thier • July 16, 2020

Your financial controls probably don't work under today's conditions

With staff remote, executives in survival mode, and hundreds of billions in assistance pouring into the economy, the chances of mistakes and abuse getting past safeguards are heightened, accounting specialists say.

By Robert Freedman • July 14, 2020

Alexion pharma settles SEC false books charges

Subsidiaries of the company allegedly paid foreign government officials to provide favorable regulatory treatment for, and falsified records about, one of its drugs. 

By Robert Freedman • July 5, 2020