Financial Reporting: Page 2
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M&A, vendor reliance help drive up ransomware threat: report
The financial severity of claims related to ransomware attacks increased more than 400% from 2022 to 2023, the study found.
By Alexei Alexis • Aug. 13, 2024 -
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Sponsored by WilliamsMarstonThe first 100 days: 4 key considerations after a private equity acquisition
The first 100 day period calls for an all-hands-on-deck approach to set a comprehensive plan for people, processes and technology to address both short-term needs and future value creation goals.
By Sarah Owings, WilliamsMarston Partner • Aug. 12, 2024 -
Explore the Trendline➔
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TrendlineFinancial reporting enters a new age
Finance leaders are increasingly relying on metrics including churn, net promoter score and customer growth to reveal company performance in a way traditional GAAP measures cannot.
By CFO Dive staff -
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Sponsored by KPMGLedger check: How finance teams can transform using AI
As technologies and capabilities expand, finance leaders report a growing investment and expectation of AI in the coming year.
Aug. 12, 2024 -
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IRS restarts review of employers’ claims for pandemic tax credit
The agency last year suspended processing applications for the Employee Retention Credit after reports of fraud.
By Jim Tyson • Aug. 9, 2024 -
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NJ law firm asks court to dismiss ex-CFO’s Chap. 11 bankruptcy case
The ex-CFO, who pleaded guilty to embezzling $1.5 million from his former employer, filed the petition for bankruptcy to delay pending litigation, the motion argues.
By Grace Noto • Aug. 9, 2024 -
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Disney anticipates ‘flattish’ theme park revenues in Q4: CFO
Lower income consumers are “feeling a little bit of stress," while high income individuals are "traveling internationally a bit more,” CFO Hugh Johnston said.
By Alexei Alexis • Aug. 8, 2024 -
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ZoomInfo shares plummet after weak quarter, CFO departure
ZoomInfo’s VP of FP&A will step in as interim CFO as the company turns to AI to bolster its financials after offering weak guidance.
By Grace Noto • Aug. 6, 2024 -
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Tyson surprise chicken profit leads to ‘positive turnaround’
The meat processor’s focus remains on maintaining its financial strength after seeing a surprise $244 million profit for its chicken segment, interim CFO Curt Calaway said.
By Grace Noto • Aug. 5, 2024 -
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Big tech banks on AI boom as infrastructure spending heads for trillion-dollar mark
“While we're investing a significant amount in the AI space and in infrastructure, we would like to have more capacity than we already have today,” Amazon CEO Andy Jassy said.
By Matt Ashare • Aug. 5, 2024 -
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How to curb ‘key man risk’ and late SEC filings
The accounting talent shortage and increased reporting requirements helped create a “perfect storm” leading to more late SEC filings, UHY’s Ro Sokhi said.
By Maura Webber Sadovi • Aug. 2, 2024 -
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Accounting pipeline task force calls out 6 fixes
Reducing the time and cost of education needed to become a licensed CPA and raising starting salaries were among the solutions proposed in the final report.
By Maura Webber Sadovi • Aug. 2, 2024 -
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Ex-Pizza Hut exec to take finance helm of Driven Brands
The transition comes as the automotive services leader is focused on accelerating growth while also generating cash flow.
By Alexei Alexis • Aug. 1, 2024 -
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Life Time Group interim CFO moves to permanent seat
The leadership announcement comes as Life Time reached a key “inflection point,” reporting $175.1 million in free cash flow for its most recent quarter.
By Grace Noto • Aug. 1, 2024 -
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Microsoft, Alphabet disappoint investors in latest earnings season
Wall Street is closely watching big tech companies to see if their heavy investments in artificial intelligence are paying off.
By Alexei Alexis • July 31, 2024 -
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Fed holds rates steady; points to ‘totality’ of data needed for potential September cut
The central bank continued to maintain rates at their 23-year high, but cracked open the door for a potential cut in September.
By Grace Noto • July 31, 2024 -
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BlackBerry promotes cyber finance chief to company CFO
The CFO shift comes as BlackBerry seeks $150 million in cost saving and proceeds with a separation plan for its IoT and cybersecurity divisions.
By Grace Noto • July 30, 2024 -
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Ex-NJ law firm CFO sentenced to five years for $1.5M embezzlement scheme
The former finance chief is required to pay $1.5 million as restitution to his former employer, the NJ AG’s office said.
By Grace Noto • July 29, 2024 -
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Flex appoints 20-year company alum as interim CFO
Longtime company alum Jaime Martinez will step in as interim CFO as Flex looks to execute on a restructuring plan aimed at improving its operational efficiency.
By Grace Noto • July 25, 2024 -
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Alphabet investors get mixed news from departing CFO Ruth Porat
The tech giant’s shares sank after Porat’s mixed comments about the company’s operating margin outlook.
By Alexei Alexis • July 24, 2024 -
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KKR-backed OneStream sees $4.6B valuation following $490M IPO
The company will continue to invest in machine learning, AI and new products such as demand forecasting tools following its $490 million IPO, CFO Bill Koefoed said.
By Grace Noto • July 24, 2024 -
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Spotify profit jumps amid ‘early days’ of price increases
Interim CFO Ben Kung said the music streamer is “encouraged” by the initial consumer reaction to the company's recent price hikes.
By Maura Webber Sadovi • July 23, 2024 -
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PulteGroup promotes insider to fill retiring CFO’s seat
Jim Ossowski will take the home builder’s finance reins in 2025 as Pulte looks to build on its record first-quarter home sale revenues.
By Grace Noto • July 22, 2024 -
Courtesy of FASB
FASB answers Big Four convertible debt ask
The fix comes after PwC, Deloitte, KPMG and EY requested clarity on rules related to convertible debt instruments that have seen a surge in demand.
By Maura Webber Sadovi • July 18, 2024 -
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Incoming QXO CFO’s comp package includes $3M signing bonus
M&A “heavy hitter” Ihsan Essaid could rake in a $1.6 million base salary should the product distribution company hit future annualized revenue run rate goals, according to a company filing.
By Grace Noto • July 18, 2024 -
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‘Say-on-pay’ proxy support rises despite concerns about PSUs: EY
The number of investor activist campaigns this proxy season rose to 691, a 2.4% increase compared with 2023, according to EY.
By Jim Tyson • July 17, 2024
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