Financial Reporting: Page 22

  • Federal Reserve Chair Jerome Powell.
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    Scott Olson via Getty Images
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    4 takeaways from Powell’s Jackson Hole speech

    Inflation is down from last year, but the Fed plans to keep on the path of restrictive monetary policy until it's at 2%, the central bank’s chair said.

    By Gabrielle Saulsbery • Aug. 25, 2023
  • Advance Auto Parts distribution center in Kutztown, Pennsylvania
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    Permission granted by Advance Auto Parts
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    Advance Auto names new CEO, interim CFO as profits decline

    The leadership changes come as the company launches a “comprehensive operational and strategic review” following a weak quarter.

    By • Aug. 24, 2023
  • Image of glowing AI letters in the foreground with a circuit board in the background. Explore the Trendline➔
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    KanawatTH via Getty Images
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    Trendline

    CFO 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
  • NVIDIA logo outside headquarters
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    Justin Sullivan via Getty Images
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    NVIDIA revenue jumps 88% amid AI ‘race’

    The race to adopt generative AI is on — and NVIDIA is determined to be the leader of the pack.

    By • Aug. 24, 2023
  • Downtown Philadelphia.
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    Sean Pavone/iStock/Getty Images Plus via Getty Images
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    Nasdaq to delist Republic First for failing to file SEC paperwork

    The Philadelphia bank blamed previous leadership for delays in its audit and annual report. The lender has weathered board upheaval and a spike in trading when similarly named First Republic faltered.

    By Dan Ennis • Aug. 22, 2023
  • Government contractors need a knowledgeable and trusted auditor to help ensure all accounting and reporting requirements are met.
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    Getty Images via Getty Images
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    FASB to revisit accounting priorities

    Some critics say the FASB’s guidance does not always yield the kind of financial transparency investors need to analyze fast-changing modern companies.

    By • Aug. 18, 2023
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    Chip Somodevilla via Getty Images
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    Bank, ex-CFO settle with SEC over ‘material misstatements’

    The former CFO of Malvern Bancorp failed to maintain accurate books and records and implement effective internal controls over financial reporting, the SEC found.

    By • Aug. 17, 2023
  • Customers enter a Walmart store in San Leandro, California.
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    Justin Sullivan via Getty Images
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    Walmart’s AI push prioritizes customer experience, personalization

    "Ultimately, the power of generative AI or any technology is only as good as the data that powers it," CEO Doug McMillon said Thursday.

    By Roberto Torres • Aug. 17, 2023
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    Tom Pennington via Getty Images
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    Retail sales rise, riding wage gains, strong job market

    Surging borrowing costs and declining pandemic-era savings have not triggered a downturn in retail spending.

    By • Aug. 15, 2023
  • A picture of the U.S. Bankruptcy Court sign in Manhattan
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    Chris Hondros/Getty Image via Getty Images
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    Bankruptcy ‘burn rates’ drive some firms to file Chapter 7s: ABI’s Ward

    Professional fees racked up in Chapter 11 bankruptcies can range from a few hundred thousand dollars to the tens of millions, Chris Ward, president-elect of the American Bankruptcy Institute, said. 

    By • Aug. 15, 2023
  • Jochen Goetz, Martin Daum pose with other Daimler AG executives
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    Permission granted by Daimler Truck AG
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    Daimler Truck CFO died of wasp sting: reports

    The company’s chairman and CEO will temporarily assume CFO duties while Daimler searches for a successor to former finance chief Jochen Goetz.

    By • Aug. 14, 2023
  • Woman standing behind counter and cash register serves ice cream cone.
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    Permission granted by Lynne Marek
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    Toast CEO: Lessons learned from fee flub

    “We learned a lot from this,” Toast CEO Chris Comparato said. “And there’s more questions we’re going to ask ourselves internally when we execute these types of pricing changes or structural changes moving forward.”

    By Caitlin Mullen • Aug. 11, 2023
  • The photo shows cannabis plants growing in a greenhouse.
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    Drew Angerer via Getty Images
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    Pot firm says ex-CFO wrongly racked up over $350K in personal charges

    Trulieve revealed its investigation's findings as the cannabis industry struggles with high taxes, competition from illegal sellers and falling prices.

    By • Aug. 10, 2023
  • Inside of a Tesla electronic vehicle
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    Spencer Platt via Getty Images
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    Tesla CFO walks away with $590M

    The former Tesla finance chief is leaving with millions in company stock and options as the EV maker faces stiff industry competition.

    By • Aug. 9, 2023
  • Image of business document with numbers on it and a pen
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    Roman Valiev via Getty Images
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    FASB’s ‘complex’ loss accounting change warrants extra time, insurer group says

    CECL grew out of a FASB effort to encourage timelier reporting of deteriorated assets after the 2008 financial crisis.

    By • Aug. 8, 2023
  • Niki Heim
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    Courtesy of LogicSource
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    Data, hiring balance key to driving growth: LogicSource CFO

    Leveraging unused data can help CFOs gain better insights surrounding efficiency and employee performance, clearing the path to growth even in turbulent economic times.

    By • Aug. 8, 2023
  • Smoke stack of coal power plant
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    martin_33 via Getty Images
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    Record number of ESG shareholder proposals go to a vote

    As of June 30, approval rates for shareholder proposals focused on environmental and social issues fell compared to all of 2022, Diligent Market Intelligence said.

    By • Aug. 4, 2023
  • Header image for "Global M&A Deal Value Down 15% in First Half"
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    Getty Images via Getty Images
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    M&A slump raises bar for seller CFOs

    The mergers and acquisitions boom is long over. The best CFOs are cleaning up their books and arming their CEOs with key data to win offers anyway.

    By Chris Gaetano • Aug. 3, 2023
  • Accountant makes notes
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    MangoStar_Studio via Getty Images
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    CPA firms facing talent shortage hike starting salaries 14%

    Many accounting firms lacking qualified staff have had to turn away work, according to alliantTalent.

    By • Aug. 3, 2023
  • A worker cleans a sign in front of the Uber headquarters on May 18, 2020 in San Francisco, California.
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    Justin Sullivan / Staff via Getty Images
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    Uber confirms long-time CFO’s exit

    CFO Nelson Chai will depart from the ride-share company next year as Uber continues to focus on profitable growth. It reported its first-ever quarterly GAAP operating profit Tuesday.

    By • Aug. 2, 2023
  • Cryptocurrency tokens lying next to a gavel
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    Just_Super via Getty Images
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    SEC’s Munter warns of ‘purported’ crypto audits

    The SEC’s chief accountant called out the practice by which some crypto companies pay for less “precise” reviews of their business that they misrepresent to investors as audits.

    By • July 28, 2023
  • Walgreens sign seen on January 2023
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    Michael M. Santiago via Getty Images
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    Walgreens hunts for new CFO with healthcare experience

    The pharmacy chain’s controller will take the CFO seat on an interim basis as Walgreens embarks on an aggressive cost-saving plan.

    By • July 28, 2023
  • Car pulling out of garage under banner with Hertz logo
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    Cindy Ord via Getty Images
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    Hertz interim CFO lands permanent gig

    Alexandra Brooks was promoted to the car rental company’s top finance post after being named interim CFO in March and serving as its chief accounting officer since 2020.

    By • July 27, 2023
  • Close up on a file tab with the word invoice and a note where it is handwritten unpaid with blur effect. Concept image for illustration of unpaid invoices recovery.
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    Getty Images via Getty Images
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    Most accounts receivable teams are behind schedule: survey

    Fraud and missing information are some of the culprits behind slow invoice payments, Versapay CFO Russell Lester said.

    By Chris Gaetano • July 26, 2023
  • A Bath and Body Works storefront
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    Cara Salpini/CFO Dive
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    Bath & Body Works picks CVS, Merck alum for CFO

    Eva Boratto joins the Columbus, Ohio-based personal products maker — long a familiar storefront inside many retail properties — as it shifts away from malls.

    By • July 25, 2023
  • 100 dollar bills with green streaks spiraling around them and 0s and 1s in the background
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    Viorika via Getty Images
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    Six ways FedNow may affect businesses’ cash flow

    Touted as the biggest upgrade to the U.S. government’s payment system in 50 years, FedNow launched Thursday. CFOs need to get ready for it.

    By • July 24, 2023