Financial Reporting: Page

Fiat Chrysler to pay $40M over misleading investors on sales

The company touted uninterrupted sales growth between 2012 and 2016. In months when the streak would have ended, it reported old sales as though they had just occurred, the SEC said.

By Robert Freedman • Sept. 29, 2019

PwC settles with SEC for $7.9M over audit violations, improper conduct

The firm exercised decision-making authority on behalf of some public clients, violating audit independence rules.

By Robert Freedman • Sept. 23, 2019

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

Reverse factoring in cash management prompts alarm from Moody's

Companies are stretching out their supplier payments with a new take on conventional factoring, but this often creates an undisclosed material debt obligation.

By Robert Freedman • Sept. 22, 2019

Former Viking Energy CEO charged with lying about CFO

The company operated without a finance chief despite a CFO signature appearing on annual and quarterly reports.  

By Robert Freedman • Sept. 18, 2019

Disclosure rule hasn't improved audit quality, researchers say

PCAOB's Rule 3211, controversial when enacted, was supposed to increase accountability and audit quality.

By Robert Freedman • Sept. 17, 2019

SEC fines Marvell Technology $5.5M in revenue manipulation scheme

The company's use of pull-in sales masked a substantial decline in customer demand, a loss of market share and reduced future sales, the agency said. 

By Robert Freedman • Sept. 16, 2019

Former KPMG audit chief receives prison sentence for 'steal-the-exam' role

A former 30-year KPMG executive was found guilty earlier this year of trying to give auditors a head's-up on which audits were to be reviewed by a federal regulator. 

By Robert Freedman • Sept. 12, 2019

5 signs you're about to run out of cash

Cash is surprisingly hard to track, and knowing when it's about to run out is harder if you don't know the warning signs. 

By Robert Freedman • Sept. 12, 2019

Median corporate CFO compensation is $203K, study finds

A comprehensive Robert Half study lets finance and accounting professionals know how they stack up. 

By Jane Thier • Sept. 11, 2019

Auditors' ears are always listening, consultant says

Risk management encompasses all aspects of an operation, from the tone coming out of the C-suite to what finance staff say to auditors at dinner.

By Robert Freedman • Sept. 11, 2019

RSM US fined $950K for auditor independence violations

Affiliates of the accounting firm provided services to affiliates of companies it was auditing, the SEC said.

By Robert Freedman • Aug. 27, 2019

Moody's blasts FASB's proposed lease accounting delay

A plan to give private companies and nonprofits an extra year to adopt new lease accounting standards will hinder credit analyses, analysts at Moody's say.

By Robert Freedman • Aug. 20, 2019

GE misreporting finances by $38B, Madoff whistleblower claims

The company denies improprieties and accuses the analyst of having a vested interest in creating short-term volatility in its stock.  

By Robert Freedman • Aug. 15, 2019

Macy's CFO 'not pleased' with disappointing Q2 earnings report

CFO Paula Price expressed optimism towards the future, but the company admitted it must overcome problems in forecasting and inventory management. 

By Jane Thier • Aug. 15, 2019

SEC easing public companies' business disclosures

Public companies have more flexibility in describing their business and the risks they face in proposed changes to SEC rules.

By Robert Freedman • Aug. 13, 2019

Tariffs to cost maker of Saucony, Keds $5M, CFO says

CFO Mike Stornant said the pull-forward began in reaction to previous tariff threats, with inventory rising 35% in Q2.  

By Emma Cosgrove • Aug. 13, 2019

DoorDash in search of $400M bank loan in advance of rumored IPO

This new influx of funds could better prepare it to go public and strengthen investor confidence in the food delivery company.

By Alicia Kelso • Aug. 13, 2019

Auditors penalized for highlighting companies' weak internal controls

Growth in one audit firm's business shrunk 8% after it exposed companies' weak controls.  

By Robert Freedman • Aug. 13, 2019

Teva CFO resigns amid restructuring

Michael McClellan's departure comes as the generics giant tries to turn around sagging sales and profits.

By Jonathan Gardner • Aug. 7, 2019

IRS aims to curb ID theft with truncated Social Security numbers on W-2s

Starting with returns filed after Dec. 31, 2020, executives can replace the first five digits of employees' Social Security numbers with Xs or asterisks.

By Robert Freedman • Aug. 7, 2019

Amid rising corporate profits, workers demand more equitable compensation

Weekly wages have increased by about 2.6% each year between 2008 and 2018, the U.S. Bureau of Labor Statistics found.

By Jane Thier • Aug. 5, 2019

As simple as it sounds, just identifying your leases is the highest hurdle to new FASB standards

CFOs of private companies don't have much time to comply with new lease accounting standards even if FASB extends the start date a year, as it has proposed.

By Marc Betesh • Aug. 2, 2019

SEC hits Brixmor CFO, former REIT execs with $7M fraud fine

Executives improperly manipulated same-property NOI reporting, subjecting their company to the SEC fine.

By Robert Freedman • Aug. 2, 2019

FASB to delay lease accounting rules until 2021

New lease accounting standards won't go into effect until 2021 for private companies in a FASB proposal that's expected to be adopted soon. 

By Robert Freedman • Aug. 1, 2019

SmileDirectClub expected to file $1B IPO next month

The company, which provides molds that consumers can apply to their teeth at home, recently raised $400 million.

By Jane Thier • Aug. 1, 2019