Metric of the Month: Finance FTEs Per $1B in Revenue

The number of people it takes to keep the finance wheel in continuous motion can vary widely from organization to organization. But when you calculate the ratio of finance team members per $1 billion in revenue, then compare that figure across multiple organizations in multiple industries, the re...

By Perry D. Wiggins • Jan. 8, 2019

Government Shutdown Drags Into Week Three

The partial shutdown of the federal government dragged into its 17th day on Monday with no end in sight. It is the third-longest government shutdown in U.S. history.President Donald Trump continues to insist any deal to end the shutdown must include money to construct a barrier along the U.S.-Mex...

By William Sprouse • Jan. 7, 2019

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Top 5 stories from CFO.com

From CPA licensure changes to undergoing a digital transformation, these are the most popular stories CFOs are reading. 

By CFO.com staff

December Jobs Report Assuages Investors

The U.S. economy added 312,000 jobs in December versus 176,000 expected, according to the latest data from the Bureau of Labor Statistics. It was the most jobs added since last February and the second-best month for job creation under the Trump Administration.Average hourly pay increased 3.2% yea...

By William Sprouse • Jan. 4, 2019

China, US Trade War a Duel of Brains and Brawn

In England, Germany and some other parts of the world, there’s an unusual sport where competitors face off in alternating rounds of chess and boxing. Getting checkmated is the same thing as getting knocked out.I find this sport, called chessboxing, a combination of brains and brawn that’s analogo...

By Jason Gerlis • Jan. 4, 2019

Square Hires Blizzard’s Amrita Ahuja as CFO

Blizzard Entertainment CFO Amrita Ahuja is leaving the maker of “World of Warcraft” to join fintech company Square as finance chief.Square said Thursday that Ahuja will start her new job later this month, replacing Sarah Friar, whose resignation in October surprised investors.Ahuja was promoted t...

By Matthew Heller • Jan. 4, 2019

Will the Stock Market Reveal Trump’s Fate?

Those who want President Trump to stay in office should hope the stock market rises. Those who want him ousted should hope it crashes.Why? History shows that the stock market is a useful indicator of people’s attitudes toward whomever is president.Socionomics theory proposes that society’s overal...

By Alan Hall • Jan. 3, 2019

Ex-Activision CFO Neumann Moves to Netflix

Netflix said Wednesday it had hired media finance veteran Spencer Neumann as CFO, just two days after Activision Blizzard announced he would be terminated from its top finance job.Neumann’s gaming-to-streaming move fills the vacancy at Netflix created by the resignation of David Wells. It also ma...

By Matthew Heller • Jan. 2, 2019

Wells Fargo Reaches Settlement to Resolve State Investigations

Wells Fargo & Co. agreed to pay $575 million to settle claims by attorneys general from all 50 states and the District of Columbia that it created phony accounts and committed other customer abuses.The settlement was announced by Iowa Attorney General Tom Miller. It comes two years after the ...

By William Sprouse • Jan. 1, 2019

CFOs on the Move: Week Ending Dec. 28

Recycled and synthetic products maker Unifi announced finance chief Jeffrey Ackerman resigned. Treasurer Christopher Smosna, who has held that post since 2008, will become interim CFO.Westmoreland Coal said Gary Kohn, who leads the finance function, will resign, effective Jan. 4. The company has ...

By Joan Urdang • Dec. 28, 2018

The 10 Best Technology Articles of 2018

It seems that almost every business decisions today involves technology in one way or another. That made for an interesting exercise in selecting our best tech content of the year. Mainly, we went for variety. Here are CFO editors’ picks for the 10 best technology articles of 2018.Cloud ERP: The ...

By CFO Editorial Staff • Dec. 28, 2018

ADT Fined Over Reporting Failures

The Securities and Exchange Commission fined home and business security company ADT Inc. $100,000 over failures to report under Generally Accepted Accounting Principles (GAAP) when presenting its financial numbers.In May of 2018, in its first-quarter earnings release, ADT reported its adjusted ne...

By William Sprouse • Dec. 27, 2018

Mastercard SpendingPulse: Retail Sales Grew at Strongest Rate in Six Years

Retail sales grew at a robust 5.1% year-over-year to $850 billion for the period between Thanksgiving and Christmas, according to a report from Mastercard. It was the strongest holiday shopping season in six years, according to the Mastercard SpendingPulse report, despite cold weather on Black Fr...

By William Sprouse • Dec. 26, 2018

Senators Prod Regulators on Fintech Oversight

Seven U.S. senators sent a letter to regulators over concerns that startup Robinhood and other fintech companies may be avoiding oversight and asking regulators to explain how they plan to police start-ups that are moving into banks’ territory.The letter, sent to Securities and Exchange Commissio...

By William Sprouse • Dec. 21, 2018

Middle Managers’ Poor Decisions Slash Profits

Poor operational decisions by mid-level managers are extremely common and can erode profit margins by several percentage points, according to a Gartner report released on Thursday.CFOs seeking to better support these managers should redefine the roles of their finance business partners — those as...

By David McCann • Dec. 21, 2018

CFOs on the Move: Week Ending Dec. 21

McGraw-Hill Education selected Mike Evans to head finance, effective Jan. 1. He formerly was CFO and COO at Renaissance, which provides pre–K12 learning analytics.Supermarket chain The Kroger Co. said J. Michael Schlotman, who leads the finance function, plans to retire next year. He remains in h...

By Joan Urdang • Dec. 21, 2018

Executives Must Disclose Stock Hedging

Ideally, a company’s executives and directors have incentives that align their interests with those of shareholders. Equity ownership, of course, is one of the primary vehicles. But what about when executives and directors can hedge against possible declines in their holdings of the company’s equ...

By Vincent Ryan • Dec. 20, 2018

MetLife Settles With Massachusetts Over Pension Claims

MetLife Inc. agreed to pay $1 million to settle claims from the Commonwealth of Massachusetts that it made misleading statements to investors and failed to pay benefits retirees, some of whom it improperly characterized as “presumed dead.”Massachusetts Secretary of the Commonwealth William Galvin...

By William Sprouse • Dec. 19, 2018

Former Panasonic Execs Charged By SEC

Two former Panasonic Avionics executives have been charged by the Securities and Exchange Commission with violations of the books and records and internal accounting controls provisions of the federal securities laws and causing similar violations by the parent company, Panasonic Corp.The SEC sai...

By William Sprouse • Dec. 19, 2018

Teladoc CFO Resigns Amid Sex Scandal

Mark Hirschhorn resigned as CFO of Teladoc Health amid allegations of a sex scandal and insider trading at the telemedicine company.A news release announcing Hirschhorn’s resignation on Monday did not mention the allegations, which first surfaced on Dec. 5 in an investigative report that said he ...

By Matthew Heller • Dec. 17, 2018

CFOs on the Move: Week Ending Dec. 14

Kenneth Possenriede will head finance at Lockheed Martin, effective Feb. 11. He replaces Bruce Tanner, who plans to retire in the middle of next year. Possenriede is now vice president of finance and program management at the firm’s aeronautics unit.The Madison Square Garden Co. promoted Victoria...

By Joan Urdang • Dec. 14, 2018

Avon Calls for Ex-P&G Exec Arnal as New CFO

Avon Products named longtime Procter & Gamble executive Gustavo Arnal as its new CFO as it seeks to implement a new long-term growth strategy.The direct-selling beauty company said Thursday that Arnal will replace Jamie Wilson, who is stepping down after two years as its finance chief to purs...

By Matthew Heller • Dec. 14, 2018

CFOs: Recession Possible in 2019

Almost half (49%) of U.S. CFOs think the United States will be in recession by the end of 2019, with 82% believing a recession will start by the end of 2020, according to the latest quarterly Duke University/CFO Global Business Outlook survey.The global economy has been on a growth streak for nea...

By Lauren Muskett • Dec. 12, 2018

Hong Kong Firm Fined $3M for Accounting Fraud

Hong Kong-based agribusiness firm Agria Corp. has agreed to pay $3 million to settle U.S. charges that it engaged in fraudulent accounting to conceal losses from the sale of its primary operating entity in China.Agria sold Taiyuan Primalights III Modernized Agriculture Development Co. in July 201...

By Matthew Heller • Dec. 12, 2018

Board Pay Tops a Quarter Million Dollars

Directors’ median annual retainer increased for the fifth consecutive year, topping out at $250,000 in 2017, according to the new Equilar Director Pay Trends report.The study, conducted from 2013 to 2017, found median annual retainers increased by $35,000 (16.3%).Those in board leadership positio...

By Lauren Muskett • Dec. 11, 2018

Verizon to Take $4.6B Writedown on Media Unit

Verizon Communications is taking a big haircut on the value of its Oath media business, reflecting the disappointing performance of its AOL-Yahoo joint venture.The telecom giant said Tuesday in a regulatory filing that it will take a $4.6 billion goodwill impairment charge on Oath in the fourth q...

By Matthew Heller • Dec. 11, 2018