Financial Reporting: Page 5
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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 -
Explore the Trendline➔
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TrendlineTop 5 stories from CFO Dive
The promises and traps of generative AI, revamped modern finance teams and stark geopolitical risks are among the top forces CFOs are grappling with this year.
By CFO Dive staff -
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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 -
Joey Sirmons/CFO Dive
Sustainability experts: ‘Start preparing now’ for SEC climate rule, other disclosure regulations
Despite the SEC rule’s temporary stay, sustainability experts said companies should not wait for the court’s ruling to begin preparing for compliance.
By Zoya Mirza , Lamar Johnson • July 17, 2024 -
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SEC rule jumpstarts Corpay CAO’s ESG push
The climate-risk disclosure rule’s March passage helped push the payments player to double down on its ESG reporting strategy, Chief Accounting Officer Alissa Vickery said.
By Maura Webber Sadovi • July 16, 2024 -
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5 takeaways on costs, challenges of climate disclosure compliance
Complacency regarding the SEC’s now-stayed rules could leave companies “scrambling to try to get ready” once they are put in place, PwC’s Marc Siegel said.
By Maura Webber Sadovi • July 15, 2024 -
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July 15, 2024 -
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Ex-Disney CFO joins FanDuel parent Flutter’s board
The high-profile Disney alum is joining Flutter’s board as the company is doubling down on its U.S. sports betting business.
By Maura Webber Sadovi • July 3, 2024 -
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SCOTUS gives CFOs ‘brand new lens’ for tax positions
Businesses should review their tax positions to see if they are dependent on a regulation that might be vulnerable to a challenge, attorney Robert Kovacev said.
By Maura Webber Sadovi • July 1, 2024 -
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Fossil names interim CFO after finance chief follows CEO out the door
The watch and jewelry retailer is bringing in a Radisson Hotel and Icahn Enterprises alum as interim CFO after reporting a 22% drop in net sales for its most recent quarter.
By Grace Noto • July 1, 2024 -
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Hallmark Media nabs Paramount exec for CFO
Anaïs Lempereur is the latest in a swell of executives departing from Paramount in recent months.
By Grace Noto • June 27, 2024 -
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HP taps former JP Morgan executive as CFO
The transition comes as the tech giant is focused on recovering from sagging sales after heightened demand during the COVID-19 pandemic.
By Alexei Alexis • June 26, 2024 -
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FASB sets compliance clock for new expense disclosure rules
Compiling data to comply will take “quite a bit of company resources,” said Nicole Wright, an associate professor of accounting at James Madison University.
By Maura Webber Sadovi • June 26, 2024 -
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Deep DiveModern finance team makeovers: Flexing the FP&A muscle
As CFOs increasingly walk the line between finance and operations, FP&A leaders are stepping up to serve as their analytical brain trust.
By Grace Noto • June 26, 2024 -
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Restatements decline, with small companies more prone to error: CAQ
The Sarbanes-Oxley Act of 2002 prompted a long-term reduction in restatements by tightening financial reporting and audit rules, CAQ said.
By Jim Tyson • June 24, 2024 -
Courtesy of Pat Dorsman for FAF
With reservations, FASB votes for narrower software rules update
While some members expressed concerns about not going far enough to modernize the rules, the FASB voted 7-0 to move forward with a more targeted proposal.
By Maura Webber Sadovi • June 20, 2024 -
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Saab deputy finance chief moves to CFO chair
The CFO swap comes as the defense material provider is looking to continue a two-year hot streak, targeting organic sales growth between 15%-20% for 2024.
By Grace Noto • June 18, 2024 -
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IRS aims to end ‘shell game’ by partnerships, targets $50B extra in taxes
Tax dodging by complex partnerships “has been overlooked for more than a decade,” IRS Commissioner Daniel Werfel said Monday.
By Jim Tyson • June 17, 2024 -
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Ex-Synchronoss CFO to pay $125k fine for accounting misconduct
Alongside the reimbursement of certain compensation to Synchronoss, the ex-CFO agreed to pay $125,000 in civil penalties without admitting or denying the SEC’s charges.
By Grace Noto • June 17, 2024 -
Courtesy of FASB
FASB’s environmental credit rules recall crypto debate
Like crypto rules FASB recently finalized, the environmental credit accounting standards would provide specific guidance where GAAP is currently silent.
By Maura Webber Sadovi • June 13, 2024
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