Financial Reporting: Page 9
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Trump-related accounting rule revamp is a likely ‘nonstarter’
Daniel Tinkelman, a professor of accounting at Brooklyn College of the City University of New York, wants the FASB to clarify GAAP rules on personal financial statements.
By Maura Webber Sadovi • Dec. 12, 2024 -
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Disney CFO champions ‘big bets’ on cruises, streaming
Disney finance chief Hugh Johnston is focusing on removing “unnecessary costs” as the company continues to funnel billions into experiences such as cruises, he said.
By Grace Noto • Dec. 10, 2024 -
Explore the Trendline➔
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TrendlineTop 5 stories from CFO Dive
Tarifff headwinds along with the accounting talent shortage and the promises and traps of generative AI, are among the top issues CFOs are grappling with this year.
By CFO Dive staff -
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Citi CFO: Evolving data standards make upgrade more complex
Mark Mason, the bank’s finance chief, also said the focus on the need to improve data tied to regulatory reporting isn’t unique to Citi.
By Caitlin Mullen • Dec. 10, 2024 -
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Super Micro gets delisting reprieve, filing extension
The San Jose, California-based tech company won a reprieve from the delisting threat it has faced since it failed to file its fiscal 2024 10-K in August.
By Maura Webber Sadovi • Dec. 9, 2024 -
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Unilever CFO sees 7.5% pay boost for new procurement, tech responsibilities
Fernando Fernandez will receive a 7.5% pay bump to take control of supply chain and tech as Unilever continues to navigate the separation of its $19.5 billion ice cream business.
By Grace Noto • Dec. 9, 2024 -
Courtesy of Hewlett Packard Enterprise Houston Campus
HPE sees ‘highest ever’ AI server revenue of $1.5B, CFO says
HPE is looking to remain “disciplined” on pricing and cost related to its AI offerings as it keeps its eye on profitable growth, CFO Marie Myers said Thursday.
By Grace Noto • Dec. 6, 2024 -
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Super Micro proposed class actions head toward consolidation
Litigation alleging Super Micro, its CEO and CFO misled investors is poised to heat up. But an AI supercomputer project the company is involved in got a shout-out from Elon Musk.
By Maura Webber Sadovi • Dec. 6, 2024 -
Courtesy of Etsy
Former Yelp exec named Etsy CFO
The change is part of a broader management shake-up at Etsy as it grapples with declining sales.
By Alexei Alexis • Dec. 5, 2024 -
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Intel CFO: Core business strategy remains ‘intact’ after CEO exit
It’s likely the incoming CEO will have a foundry background, David Zinsner, CFO and interim co-CEO for Intel said during a conference Wednesday.
By Grace Noto • Dec. 5, 2024 -
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Super Micro heeds committee call for new CFO amid process ‘lapses’
The tech company probe’s findings come on the heels of Big Four firm EY resigning in October from its position as Super Micro’s registered public accounting firm.
By Maura Webber Sadovi • Updated Dec. 4, 2024 -
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Samsung CFO takes on new role in management shake-up
The shift comes on the heels of profit struggles at Samsung and the company’s public apology to investors.
By Alexei Alexis • Nov. 27, 2024 -
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FASB updates convertible debt rules
The new GAAP guidance stems from a request made by Big Four accounting firms and comes as the convertible bond market is regaining steam.
By Maura Webber Sadovi • Nov. 27, 2024 -
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Scotts Miracle-Gro appoints interim CFO in leadership shift
Treasurer Mark Scheiwer will step in as interim CFO as Scotts looks to execute a “turnaround” for its cannabis-focused subsidiary, where sales plummeted by 46% during its most recent quarter.
By Grace Noto • Nov. 26, 2024 -
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Zoom rebrands, aims to be known as ‘AI-first’ company
“Zoom is now about so much more than video meetings,” CEO Eric Yuan said.
By Alexei Alexis • Nov. 26, 2024 -
Daphne Howland/CFO Dive
Macy’s says accountant hid as much as $154M in expenses
The deliberately misleading accounting of expenses since the fourth quarter of 2021 did not disrupt cash management or vendor payments, Macy’s said.
By Jim Tyson • Nov. 25, 2024 -
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SEC hits UPS with $45M fine for material misstatements
The company overvalued its freight unit, one of its ‘worst-performing’ business segments, prior to the unit’s sale in 2021 for $800 million, the SEC said.
By Grace Noto • Nov. 25, 2024 -
Retrieved from Evolv/YouTube on November 22, 2024
Evolv CFO latest to depart during misconduct, revenue misstatement investigation
The security technology provider will pay a weekly $50,000 fee to AlixPartners in exchange for the services of its director David Rawden as interim CFO.
By Grace Noto • Nov. 22, 2024 -
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SEC’s Gensler to step down Jan. 20 after robust rulemaking, enforcement
The SEC, in one of its most far-reaching changes under Gensler, adopted rules to channel more trading of Treasury securities into central clearinghouses and curb illiquidity risks.
By Jim Tyson • Nov. 21, 2024 -
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Walmart CFO keeps eye on prices, tariffs
Walmart is looking to continue to attract high-income consumers with the right price mix, even as CFO John Rainey anticipates price hikes in the face of potential tariffs.
By Grace Noto • Nov. 20, 2024 -
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Audit committees expand oversight to ESG, cybersecurity, AI: EY
Nearly four out of five investors said boards should demonstrate expertise in climate, cybersecurity and other risks by detailing their work to limit such hazards, EY said.
By Jim Tyson • Nov. 18, 2024 -
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Spirit CFO says post-pandemic airline sector is ‘unrecognizable’
Budget carriers like bankrupt Spirit Airlines have been “disproportionately” affected by industry headwinds as they rely on “much slimmer margins,” CFO Fred Cromer writes.
By Maura Webber Sadovi • Nov. 18, 2024 -
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Rivian CFO inks $3.5M trading plan as EV industry faces bumps
President-elect Trump will likely ax the EV tax credit, a proviso of the Inflation Reduction Act, upon taking office in January. Critics say the move will badly impact EV competition.
By Grace Noto • Nov. 18, 2024 -
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Disney CFO highlights booming streaming growth
Subscribers for its Disney+ Core platform grew by 4.4 million in Q4 as the company cracks down on password sharing and looks to improve customer engagement.
By Grace Noto • Nov. 15, 2024 -
Justin Sullivan via Getty Images
Jack in the Box brings back ex-CFO for second stint
Lance Tucker will receive a $200,000 cash bonus upon taking Jack in the Box’s CFO seat for the second time.
By Grace Noto • Nov. 13, 2024 -
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GAAP is letting companies get away with anticompetitive mergers, researchers say
Intangible assets aren’t being captured in the merger review thresholds that federal antitrust agencies rely on, a paper shows.
By Robert Freedman • Nov. 13, 2024
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