Financial Reporting: Page

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

Explore the Trendline➔

Top 5 stories from CFO Dive

To stay competitive many CFOs are focused on balancing AI’s risks and opportunities while also adjusting to fast-changing tariff policies and labor markets.

By CFO Dive staff

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

What's your COVID-19 story?

When discussing 2020 plans with investors, Eric Knachel, Deloitte senior consultation partner, recommends figuring out your company's story to connect with stakeholders.

By Jane Thier • June 30, 2020

Trading platform equips SaaS companies to sell subscriptions to investors

L.A.-based start-up Pipe says it provides software firms with an alternative to equity and debt by treating annualized customer contracts as tradable assets.

By Robert Freedman • June 30, 2020

How COVID-19 is changing conversations about going concern

CFOs should expect more — and more targeted — questions as auditors try to get a picture of how well their organization is positioned to survive the downturn. 

By Bob Dohrer • June 30, 2020

Novartis to pay $112M fine for bad accounting controls

Company subsidiaries used improper payments to boost business in some countries. 

By Robert Freedman • June 26, 2020

CFOs can access extra cash in move to new lease accounting rules

FASB is delaying the move to ASC 842 but, if you need money, the transition could provide it in some of the lease terms.   

By Robert Freedman • June 22, 2020

Comcast CFO expects continued losses in 2nd quarter

CFO Mike Cavanagh told investors to expect continued losses for the parent company of NBC Universal and Xfinity, as digital subscriber numbers plummet and theme parks and movie theaters remain shuttered.

By Jane Thier • June 18, 2020

How companies can account for PPP loans under FASB ASC 470

FASB hasn't explained how for-profit businesses should recognize forgivable loans and other government assistance, but other standards are available.

By Robert Freedman • June 15, 2020

Wells Fargo CFO predicts drop in net interest income, layoffs in 2020

In an appearance at Morgan Stanley Virtual U.S. Financials Conference Wednesday, CFO John Shrewsberry discussed the bank's second quarter earnings and plans for maintaining profitability throughout 2020.

By Jane Thier • June 14, 2020

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

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

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

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