Financial Reporting
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Costco CFO looks to ‘pull forward’ inventory buys amid tariff uncertainty
“In general, of course, tariffs raise costs so that's not something that we see as a positive,” Costco CFO Gary Millerchip said on the company’s earnings call Thursday.
By Maura Webber Sadovi • Dec. 13, 2024 -
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OpinionIt’s time to prepare for FASB’s new compensation reporting rules
The new accounting standard will fundamentally change how businesses track and report compensation, especially with regards to bonuses and commissions, Mark Schopmeyer writes.
By Mark Schopmeyer • Dec. 13, 2024 -
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TrendlineCFO 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 -
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SEC charges former Comtech CEO with insider trading
The charges against Ken Peterman are just the latest initiative by what, in some respects, has been the most aggressive SEC enforcement division on record.
By Jim Tyson • Dec. 12, 2024 -
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Mercedes-Benz taps Continental finance leader for board seat
The appointment is among a series of board leadership changes at Mercedes-Benz after it posted significant profit losses in the third quarter.
By Alexei Alexis • Dec. 12, 2024 -
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PCAOB could be defanged by incoming Trump administration
The new presidential administration might not abolish the PCAOB — but it doesn’t need to in order to render it ineffective, accounting professor Robert Pawlewicz said.
By Grace Noto • Dec. 12, 2024 -
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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 -
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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 -
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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 -
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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
