Perrigo to Restate Financials Back to 2013

Drugmaker Perrigo will restate financial results as far back as the quarter ended Dec. 28, 2013 after determining it had incorrectly accounted for royalties from the best-selling multiple sclerosis drug Tysabri.The company had recognized the royalty stream as revenue since acquiring the rights as...

By Matthew Heller • April 26, 2017

Two Execs Pay Penalties for FCPA Violations

Two former executives at Hungarian-based telecommunications company Magyar Telekom have agreed to pay financial penalties and accept officer-and-director bars to settle a previously-filed SEC case alleging they violated the Foreign Corrupt Practices Act (FCPA).According to the SEC’s complaint, th...

By Vincent Ryan • April 25, 2017

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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

Executive Compensation Is Right Where It Should Be

Executive pay is just about right — for today, which assumes an efficient market. To suggest otherwise would imply that there is a market irregularity, such as a bubble or inefficiency, which causes an imbalance in executive pay.RJ Bannister I submit that the market for executive pay is more effi...

By RJ Bannister • April 21, 2017

CFOs on the Move: Week Ending April 21

Richard Moss plans to retire as head of finance at HanesBrands at the end of the year, and the company has begun a search for his successor. Moss joined the firm in 2006 as treasurer and was named CFO in 2011.Eric Shander Open-source software provider Red Hat has promoted Eric Shander to the top ...

By Joan Urdang • April 21, 2017

Square-Off: Is Executive Pay Too Low, Too High, or Just Right?

It probably won’t ever be possible to resolve the societal debate over the proper amount of compensation that should rightly be awarded to top corporate executives. It may be no more achievable than national consensus on how to approach health care, taxes, or gender and racial equality.People in ...

By David McCann • April 18, 2017

High CEO Pay Is Bad for Investors and Companies

In 2015, CEOs of S&P 500 companies received, on average, $12.4 million in total compensation. That was 335 times the average annual pay of production and non-supervisory workers.Brandon Rees In America, today’s CEO-to-worker pay ratios are far higher than historic levels. In 1980, BusinessWee...

By Brandon Rees • April 18, 2017

Like Top Actors, Good Execs Are Paid for Value Generated

Jennifer Lawrence made more than $50 million last year. Is she worth that?Marc Hodak You should ask the people paying her. Studio heads are nice-enough folks, but they aren’t giving up that coin to a 26-year-old for no reason. They pay her what they do because her face on posters will put our bot...

By Marc Hodak • April 18, 2017

Revenue Recognition Disclosure Requirements: A Challenge That Can’t Wait

As companies scramble to implement the FASB’s revenue recognition standard, many are primarily focusing on the revenue and measurement requirements, which have the highest profile. Meanwhile, many companies are largely ignoring the new disclosure requirements, treating them as a minor detail that...

By Eric Knachel • April 17, 2017

CFOs on the Move: Week Ending April 14

Parker Hannifin, which manufactures control and motion technologies, has promoted Catherine Suever to CFO and executive vice president of finance and administration. She replaces Jon Marten, who is retiring. Suever had been controller and acting CFO.Amy Listerman Amy Listerman has been named CFO ...

By Joan Urdang • April 14, 2017

KPMG Replaces Audit Chair in Wake of PCAOB Leaks

Faced with the revelation that six of its auditors had improperly received advance information from an employee of the Public Company Accounting Oversight Board about up upcoming inspections of the firm, KPMG yesterday announced that it was replacing its top auditor, Scott Marcello, with Frank Ca...

By David Katz • April 12, 2017

Why Great Health Care Companies Aren’t Necessarily Great Stocks

(This is the second of two articles on how companies in the the health care industry can increase their share prices. The first article appeared yesterday. )Despite the admiration we all have for great companies with high profit margins, our capital market research shows that health care companie...

By Marwaan Karame, Joseph Theriault, and Gregory V. Milano • April 12, 2017

In Health Care, Reinvestment Outshines Dividends, Buybacks, Debt

(This is the first of two articles on how companies in the the health care industry can increase their share prices.)Health care executives are pulled in many different directions, and strategic and tactical choices have become increasingly complicated in such areas as capital deployment and fina...

By Joseph Theriault, Marwaan Karame, and Gregory V. Milano • April 11, 2017

Metric of the Month: Payroll Errors

Many CFOs believe their payroll processing runs like a well-oiled machine and that their internal customers are quite happy with the service-quality equation related to the underlying processes of reporting time, pay management, and payroll taxes. But a recent benchmarking review from APQC tells ...

By Mary Driscoll • April 10, 2017

How to Save a Bundle on PBGC Premiums

When a company spends money in order to make money, that can be, and often is, viewed as a positive. But when a company spends money as a cost of compliance, no CFO or controller, in my experience, thinks that’s a good thing. To the extent it’s done, it’s merely a necessary evil.John Lowell John ...

By John Lowell • April 10, 2017

Kodak Decides Against Selling Prosper Business

Eastman Kodak has announced it will not sell its Prosper inkjet business, citing an increase in sales and offers that did not reflect Prosper’s value.The company had originally anticipated selling the business by the end of last year to develop its Ultrastream technology, an inkjet printer that c...

By Matthew Heller • April 7, 2017

CFOs on the Move: Week Ending April 7

Recreational-vehicle manufacturer Winnebago Industries has chosen Bryan Hughes to fill the top finance spot, effective May 15. Hughes, who replaces Sarah Nielsen, previously was corporate controller at Ecolab.Kyle Wailes Patrick Linehan has been named to head finance at Compass Minerals. He most ...

By Joan Urdang • April 7, 2017

Unilever Revamps in Wake of Rejecting Kraft

Unilever will launch a $5.3 billion share buyback, raise its dividend 12%, and restructure two major divisions as the consumer products giant seeks to soothe investors after rejecting a $143 billion takeover bid by Kraft Heinz.Announcing the results of a corporate review, Unilever said Thursday i...

By Matthew Heller • April 6, 2017

Disruptive Influences: 20 Tech Companies to Watch

Venture capital money is flowing freely. Cloud infrastructure is enabling startup companies to operate on scant fixed investment. Next-generation technologies are promising to revolutionize business processes. In many ways, it is a boon time for enterprise technology.But for finance chiefs trying...

By CFO Editorial Staff • April 6, 2017

Gearing Up for a Manufacturing Revival

Ten years ago, American manufacturing was an oxymoron, as so much of what was sold by domestic manufacturers was produced outside the nation’s borders. This paradigm may now be altering, promising a new age for U.S. businesses that make things. How could manufacturing, a sector that has lost more...

By Russ Banham • April 6, 2017

Services With A (CFO) Smile

It’s a blockbuster combination, even if it won’t attract attention on the scale of big deals like the $65 billion Bayer-Monsanto merger or AT&T’s prospective takeover of Time Warner. What combination are we speaking of? The blending of products and services into a hybrid business model as com...

By Josh Hyatt • April 6, 2017

Aging U.S. Infrastructure Hampers Private Sector

The American Society of Civil Engineers (ASCE) recently released its report card on the United States’ aging infrastructure and like any school report card, the “D+” mark given would get any underperforming student sent to the principal’s office. There is plenty of factual data to support the vie...

By Paul Horgan • April 5, 2017

Ralph Lauren Taking Steps to Save $140 Million

Ralph Lauren is taking additional restructuring steps amid sluggish sales on luxury apparel and accessories, including closing its flagship Polo store in Manhattan and shifting its digital operation to a cheaper platform.In a regulatory filing, the retailer said Tuesday the restructuring moves wi...

By Matthew Heller • April 4, 2017

The Promise of IoT in Commercial Insurance

For years thought leaders have been evangelizing new insurance products and value propositions driven by the Internet of Things. The IoT, of course, is the network of embedded connected devices generating massive amounts of data, combined with ubiquitous connectivity and the analytic capabilities...

By Michael Freilich and Joe Reifel • April 3, 2017

Artificial Intelligence’s Real Role in Business

First IBM’s Watson supercomputer took on Jeopardy and now it’s ready to do your taxes. Or, so the TV ads running in heavy rotation these days would have you believe. Fact is, folks walking into their local tax preparer’s office will not be handing over their W-2s to R2-D2 anytime soon. However, H...

By Brian Peccarelli • March 31, 2017

CFOs on the Move: Week Ending March 31

Dunkin’ Brands Group, parent company of Dunkin’ Donuts and Baskin-Robbins, said that finance chief Paul Carbone is leaving the firm, effective April 21. Vice president of finance and treasurer Kate Jaspon will become interim CFO while the company searches for a permanent successor to Carbone.Kate...

By Joan Urdang • March 31, 2017