How are CFOs revamping their scenario plans?

The pandemic has forced CFOs to reevaluate their approach and account for a wider range of possible outcomes.

By Jane Thier • May 26, 2020

Macy's names new CFO amid expected $1B operating loss

As the embattled retailer wraps up its disappointing first quarter, it named controller Felicia Williams interim CFO, replacing Paula Price, who had been in the role for less than two years.

By Jane Thier • May 21, 2020

Delay in lease, revenue recognition rules made official

A one-year delay in new standards mainly affects private companies and nonprofits that haven't yet put them in place. 

By Robert Freedman • May 21, 2020

CFOs urged to buy back debt if it is trading below par value

Credit market dislocations make now a potentially good time to deleverage balance sheets.

By Robert Freedman • May 18, 2020

Growing value by stewarding company reputation

CFOs who take a hands-on approach to managing their company’s reputational value send market signals that lead to improved equity and debt pricing. 

By Nir Kossovsky • May 18, 2020

Tyson Foods CFO: Despite continued losses, long-term outlook remains positive

Tyson Foods shared its disappointing profit figures in its Q2 earnings call, but stressed continued optimism as more customers purchase their pork, beef and chicken products in non-restaurant settings.

By Jane Thier • May 5, 2020

Goodwill impairment testing during COVID-19 times

Economic uncertainty is forcing finance chiefs to rethink the impairment testing process.

By Suzanne Northington • April 30, 2020

Citing pandemic, FASB to delay lease, franchisor standards

Lease accounting changes for private companies and nonprofits have already been delayed once even though analysts prefer they be treated the same as public companies.

By Robert Freedman • April 12, 2020

Cheesecake Factory CFO seeks immediate relief; Chipotle CFO says chain can 'last a year'

As the coronavirus pandemic rocks the restaurant industry, chains with established attention to takeout and delivery pull far ahead of traditional sit-down joints. 

By Jane Thier • April 2, 2020

As the first remote month ends, how are CFOs closing the books?

At the end of March, CFOs, finance teams and auditors were faced with a novel challenge — closing the books without meeting in person. Here's how they're doing it.

By Jane Thier • April 1, 2020

Johnson & Johnson CFO: Pandemic may be 'good opportunity to strike deals'

CFO Joseph Wolk said Johnson & Johnson, parent company of Band-Aid, Rogaine and Tylenol, would release earnings guidance next month, even if, due to the unfolding pandemic, that guidance ends up being wrong.

By Jane Thier • March 24, 2020

FDIC chair asks FASB to waive credit-loss rule

Banks dealing with credit market upheavals as a result of the pandemic shouldn't have to adjust to sweeping changes in loss allowances right now, the regulator says.

By Robert Freedman • March 24, 2020

Wall Street goes remote as NYC becomes COVID-19 epicenter

While many companies shift to remote work, Wall Street has two large roadblocks: compliance and security. 

By Jane Thier • March 23, 2020

Coronavirus impact limited to timing issues so far, LED company CFO says

The company has taken steps to keep manufacturing on track by disinfecting its facility, but employees uncomfortable with working on site can stay home.

By Robert Freedman • March 19, 2020

Slack, Zoom CFOs stay realistic as coronavirus spotlights remote work

With most of the country transitioning to remote work, video conferencing tool Zoom and instant messenger Slack are exploding in popularity. But their CFOs aren't quick to assume that it will have long-term benefits.

By Jane Thier • March 16, 2020

PCAOB chair: focus is on preventing bad audits

The regulator is making a push for audit reviews to include a meeting with company audit committees, agency chair William Duhnke said.

By Ted Knutson • March 11, 2020

10-K filings to reflect uncertainty of new accounting rules

New ways to account for leases and expected credit losses may pose a reporting test for companies.

By Robert Freedman • March 7, 2020

SEC gives companies extra 45 days for reporting amid coronavirus uncertainty

By the end of April, companies must summarize why the outbreak is keeping them from filing public disclosures.

By Robert Freedman • March 5, 2020

SEC hits Cardinal Health with accounting violations

The company didn't have controls in place to detect improper payments by a former Chinese subsidiary, the SEC says. 

By Robert Freedman • March 3, 2020

Will more CFOs switch to mark-to-market pension accounting?

With the Federal Reserve signaling an interest-rate response to the coronavirus, continuing low interest rates could drive CFOs to move away from amortization of pension losses.  

By Robert Freedman • March 2, 2020

As XBRL in financial reporting matures, focus is on accuracy

The ability to increase financial transparency with machine-readable tags is improving, but few means are in place to ensure data quality. 

By Ted Knutson • Feb. 25, 2020

Can a CFO restore his reputation after SEC fraud allegation?

After a long legal battle, the SEC dropped fraud charges against former Osiris Therapeutics CFO Gregory Law, but his professional standing may never recover. 

By Robert Freedman • Feb. 24, 2020

Extreme optimism on earnings calls OK, study finds

Conveying expected performance on earnings calls with extreme language tends to correlate with future positive results, a study shows.

By Robert Freedman • Feb. 19, 2020

Proposal to fold audit watchdog into SEC sparks pushback

The independent board overseeing the quality of audits of publicly traded companies would become a function of the SEC in the FY21 federal budget request. 

By Robert Freedman • Feb. 18, 2020

The problem with planning: Knowing when to turn down new tech

The influx of innovative tech designed to modernize the finance function has made it harder than ever to discern what's best for your company. How can CFOs make the distinction?

By Jane Thier • Feb. 13, 2020