AbbVie used 2017 law to lower taxes to 9.5% from 20%: investigation

The Senate Finance Committee announced an investigation into the pharmaceutical company's global tax practices as Biden pushed a broad effort to boost corporate tax revenue.

By Jim Tyson • June 3, 2021

Avoiding ASC 470 debt modification mistakes

Many companies restructured debt during the pandemic; accounting for that can be fraught with risk if you misapply the rules, reporting specialists say.

By Ed McCarthy • June 3, 2021

5 CFO tips for limiting harm from inflation

Amid signs of rising inflation, economists and financial executives suggest ways that CFOs can buffer against the damage from unstable prices.

By Jim Tyson • June 2, 2021

Musk tweets violated SEC rules, WSJ reports

Tesla and Elon Musk paid tens of millions of dollars in penalties, and its handling of performance-based communications continue to raise Securities and Exchange Commission concerns.

By Robert Freedman • June 2, 2021

CFOs' essential role in promoting employee mental health

For professional accountants, mental health issues heighten the risk of not identifying errors in financial reports or spotting indicators of fraud. 

By Russell Guthrie • June 1, 2021

Nearly 40% of large companies pose biodiversity threat: Moody's ESG study

A Moody’s study aimed at measuring “biodiversity risks” in investment and lending portfolios found that 38% of 5,300 global companies operate at least one facility causing loss of habitat.

By Jim Tyson • May 28, 2021

Gensler pledges tough SEC scrutiny of SPACs, warning of fraud risk

The SEC will “closely look” at each stage of SPAC financing to ensure adequate investor safeguards, Chair Gary Gensler said in congressional testimony.

By Jim Tyson • May 27, 2021

AI will yield biggest return in CFO spending during coming decade: Gartner

Spending on artificial intelligence will help CFOs achieve outperformance more than any other investment, Gartner predicts.

By Jim Tyson • May 26, 2021

New data analysis may help predict pandemic recovery: AstraZeneca FP&A head

The coronavirus sped up adoption of automation at AstraZeneca and generated datasets that may help forecast recovery, according to the company's FP&A director.

By Jim Tyson • May 25, 2021

CFOs can be on the hook for investigations — even after they leave

CFOs can expect more cooperation clauses in employment and severance agreements as companies angle for greater control over their response to legal inquiries.

By Ted Knutson • May 21, 2021

Legislation needed to smooth transition from LIBOR: Fed official

The Federal Reserve will bar the use of LIBOR in contracts after December 31, Vice Chair Randal Quarles said, underscoring the need for legislation to smooth the switch to a new reference rate.

By Jim Tyson • May 20, 2021

SCOTUS ruling makes it easier to sue IRS

The court opens the door for companies to challenge the IRS without having to first pay a tax penalty that, ultimately, they might not owe. 

By Robert Freedman • May 20, 2021

Labor shortages, rising wages intensify inflation threat: Summers

Despite rising wages, many companies are short on workers, signaling a growing threat of inflation, former Treasury Secretary Lawrence Summers said.

By Jim Tyson • May 19, 2021

Up from the ashes: retailing CFOs get ready for a consumer rush

Retailing CFOs preparing for a "spring-loaded" consumer splurge provide insights for financial executives in industries less challenged by the coronavirus.

By Jim Tyson • May 18, 2021

Colonial hack a wake-up call to CFOs with legacy systems

Older systems leave finance and accounting operational data at risk of breach, security specialists say.

By Ted Knutson • May 14, 2021

Bankers' main CFO gripe: lack of transparency

CFOs and their treasurers can get more from their banking relationships if they treat them more as partnerships than customer-seller transactions, banking specialists say.

By Ted Knutson • May 13, 2021

Only 20% of CFOs can forecast revenue, earnings beyond a year: survey

Even after the pandemic shock, most CFOs forgo effective scenario planning and more than half lack the ability to forecast revenue and earnings beyond six months, according to a Prophix Software survey.

By Jim Tyson • May 11, 2021

Companies losing out as insurers skirt rebates

Health carriers are said to be strategically overestimating how much they use premiums to pay claims to avoid returning money to policyholders.

By Robert Freedman • May 11, 2021

As SEC ramps up SPAC rules, lawsuits could follow

The Securities and Exchange Commission is expected to step up scrutiny of special purpose acquisition companies. If it does, sponsors and investors could start challenging it in courts, a former SEC commissioner says.

By Robert Freedman • May 10, 2021

Half of companies lack LIBOR phase-out plan: Duff & Phelps

Despite regulatory pressure, more than half of financial services firms have not determined when they will stop using LIBOR in new contracts, according to a Duff & Phelps survey.

By Jim Tyson • May 10, 2021

Companies ignoring ESG may become 'uninvestable,' says investment bank chief

Interest in sustainability goals is growing "enormously" and companies that ignore the trend risk rejection by investors, according to Larry Wieseneck, co-president of investment bank Cowen.

By Jim Tyson • May 7, 2021

Up from the ashes: Restaurant CFOs prepare for boom

Profit-hungry restaurant CFOs blindsided by the pandemic get ready for robust economic growth, offering lessons for leaders in less-stressed industries.

By Jim Tyson • May 6, 2021

Rising inflation, higher taxes pose 'headwinds' to growth, Schenker says

Look for 'eye-popping inflation numbers' and 'horse trading' on taxes as potential economic drags, economist Jason Schenker says. 

By Jim Tyson • May 6, 2021

Trump CFO Weisselberg on shaky ground by claiming ignorance

Although CFOs aren’t expected to make legal decisions, they don’t have the luxury of a "don’t ask, don’t tell" approach, legal specialists say, because the financial and legal sides of complex issues are intertwined. 

By Ted Knutson • May 6, 2021

'Gender bonds' empowering women likely to improve issuers' credit outlook: Moody's

Issuance of bonds tied to women’s economic empowerment will likely grow while boosting issuers’ credit standing, Moody’s said.

By Jim Tyson • May 5, 2021