Citi poured $12B into tech last year, retired nearly 400 legacy apps

While efforts to modernize are underway, the company is operating at a loss and plans to cut 20,000 positions by 2024 as part of a broader restructuring.

By Matt Ashare • Jan. 16, 2024

IRS streamlining falls short despite budget boost: Taxpayer Advocate

Although improving some taxpayer services, the IRS has overstated its progress by claiming to answer 85% of calls, the national taxpayer advocate said.

By Jim Tyson • Jan. 12, 2024

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

NY AG, Trump clash in final $370M civil fraud tug-of-war

Attorneys laid out their closing arguments in the NY AG’s $370 million civil fraud trial that has put accounting under a surprising spotlight.

By Grace Noto • Jan. 11, 2024

Walgreens on track to save $1B this year with new executive team

Cost reductions, along with challenging market conditions, are critical roadblocks to address, executives said.

By Suman Bhattacharyya • Jan. 9, 2024

United Airlines aims to expand Denver facilities; skirts rumors of potential HQ move

United’s bid to establish a new flight simulator building in Denver follows a $33 million purchase of property in the city which sparked rumors of a potential shift in the airline’s base of operations.

By Grace Noto • Jan. 8, 2024

NY AG seeks ‘lifetime’ ban of Trump, ex-CFO from NY real estate

The New York Attorney General’s office has also upped the fine it is asking the judge to impose on the Trump Organization to $370 million.

By Grace Noto • Jan. 5, 2024

CVS interim CFO takes permanent seat

The CVS Health executive is taking on the top finance seat as it looks to get back on track following a corporate restructuring, company-wide layoffs, and rising costs.

By Grace Noto • Jan. 5, 2024

Bankruptcies surge 18% in 2023 as more distress looms

The rise in business failures was one of the darker pieces of last year’s economic puzzle. 

By Maura Webber Sadovi • Jan. 4, 2024

Chevron blames regulations, cleanups for $4B write-off

The energy giant said California’s regulatory landscape and cleanup of decommissioned Gulf of Mexico sites are estimated to cost the company at least $3.5 billion.

By Lamar Johnson • Jan. 4, 2024

73% of accounting students lack money for gaining CPA license

To stem a talent shortage, accounting firms need to reach out to potential CPAs well before they select their college majors, according to a CPA association.

By Jim Tyson • Jan. 3, 2024

IRS unlocks 15% corporate minimum tax’s handcuffs

The guidance is the latest in a slew of IRS directives issued as questions have swirled around the new tax on big companies.

By Maura Webber Sadovi • Jan. 3, 2024

Walmart vet tapped for Innovative Food’s CFO seat

Gary Schubert is taking over the finance reins of the struggling gourmet food company after a 15-year stint at Walmart.  

By Alexei Alexis • Jan. 3, 2024

Life Time Group CFO abruptly resigns amid push for positive cash flow

The CFO shift comes as the company weathers rising operating costs for its fitness centers.

By Grace Noto • Jan. 2, 2024

2024 is ‘all about the Fed,’ U.S. Bank exec says

With 2023 drawing to a close, all eyes are remaining on the Federal Reserve and its inflation strategies for 2024, U.S. Bank’s Stephen Philipson said.

By Grace Noto • Dec. 21, 2023

FASB at 50: Under the gun to modernize GAAP

With its anniversary year drawing to a close, there are signs FASB is stepping up the pace of its standards setting. Some finance executives are wary. 

By Maura Webber Sadovi • Dec. 20, 2023

Marshaling the right GenAI data strategy: EY

To drive effective financial transformation with AI, organizations need to ensure the “fuel” for the technology is there, EY experts say.  

By Grace Noto • Dec. 20, 2023

Hewlett-Packard Enterprise taps HP Inc. CFO for finance chief

Company veteran Marie Myers will take HPE’s financial reins as the business seeks to boost IT spending next year.

By Grace Noto • Dec. 18, 2023

4 accounting takeaways from this week’s FASB congressional hearing

Lawmakers pressed FASB and PCAOB leaders to explain how they’re approaching regulations in the wake of the recent bank and crypto crises.

By Maura Webber Sadovi • Dec. 14, 2023

New cybersecurity CPA focus shines spotlight on risk for CFOs: Sysdig

Cybersecurity is landing on the CPA exam at a time when CFOs are facing both an accounting talent shortage and new digital threats.

By Grace Noto • Dec. 14, 2023

Trump holds responsibility for GAAP compliance, NY AG expert said

The Trump Organization is ultimately responsible for ensuring their financial statements are compliant, rather than their accountants, professor of accounting Eric Lewis said.

By Grace Noto • Dec. 13, 2023

NY AG disputes Trump expert’s GAAP analysis

Attorneys for both the NY AG’s office and the former president zeroed in on particular provisions of GAAP as the $250 million civil fraud trial winds down.

By Grace Noto • Dec. 12, 2023

Cybersecurity pressures stretch CFOs

CFOs are bracing for new SEC cybersecurity rules set to kick in this month as the regulator is already signaling an aggressive enforcement posture.

By Alexei Alexis • Dec. 12, 2023

Veradigm CEO, CFO asked to resign amid audit committee probe

Veradigm appointed an interim CEO and CFO as it struggles to course correct in the midst of an ongoing audit and a shareholder complaint alleging it artificially inflated revenues for a two-year period.

By Grace Noto • Dec. 11, 2023

Instacart to focus on order efficiency to retain online grocery delivery dominance

The practice of “batching,” or handling multiple orders per shopper trip, is improving unit economics, CFO Nick Giovanni says.

By Suman Bhattacharyya • Dec. 8, 2023

Most accountants back AI, viewing it as productivity boost: Moss Adams

Accountants also flagged several potential downsides from rapid AI adoption, including poor work quality, flawed data and undetected bias.

By Jim Tyson • Dec. 8, 2023