Audit Committees Face Expertise, Risk Management Challenges

With continued economic uncertainty and an incoming presidential administration promising sweeping policy changes, audit committee members are bracing for unforeseen risks in 2017 and urging their companies to ramp up risk management programs, according to a new survey by the consulting group KPM...

By Sean Allocca • Jan. 11, 2017

Valeant Sells Dendreon, Other Assets for $2B

In what could be first of a series of divestitures, troubled drug maker Valeant Pharmaceuticals is selling its Dendreon cancer treatment business and three skincare products for $2.12 billion to pare down its more than $30 billion in debt.The businesses sold for several multiples more than what V...

By Matthew Heller • Jan. 11, 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

The Limited Shuts Down All of Its 250 Stores

The Limited, once the flagship of a retailing empire, has closed all of its 250 stores, citing the “increasingly challenging environment” for mall-based apparel retailers.The closures eliminate about 4,000 jobs and leave The Limited with only a digital presence. “We’re sad to say that all The Lim...

By Matthew Heller • Jan. 9, 2017

Bullish on the Economy, Bearish on Expectations

CFOs have high hopes for the U.S. economy under President-elect Donald Trump, but aren’t exactly sure what the new administration’s proposed policy changes might mean for their companies’ bottom lines, according to a new survey by consulting firm Deloitte.The CFO Signals survey polled 137 CFOs, b...

By Sean Allocca • Jan. 9, 2017

Why Is There Still Gender Pay Disparity?

Despite significant evidence that companies with more women leaders experience greater profitability and stock returns, men continue to enjoy more advancement opportunities at every stage of career development.Discussions about that disparity are frequently framed in terms of pay inequity. Indeed...

By David McCann • Jan. 5, 2017

Forecasting: Looking for Weak Signals

Around this time of year, I’m often asked what the next year will bring by way of new things, emerging trends, and surprises. Forecasting the future is a tough act — the obvious sometimes never shows up and a surprise wouldn’t be a surprise if you knew it was coming. So this year I’m going to lay...

By John Parkinson • Jan. 4, 2017

CFOs on the Move: Week Ending Dec. 30

Media and education firm Graham Holdings has announced that CFO and senior vice president of finance Hal Jones will retire on March 31. Wallace Cooney, who has been chief accounting officer since 2008, will replace him.John Woods John Woods has been selected to head finance at Citizens Financial ...

By Joan Urdang • Dec. 30, 2016

Toshiba to Take Writedown on Nuclear Deal

On the heels of a $1.3 billion accounting scandal, Toshiba said Tuesday it may have to book a charge of “several billion U.S. dollars” related to its acquisition of a nuclear power plant construction company.The Japanese conglomerate attributed the writedown to higher-than-expected cost overruns ...

By Matthew Heller • Dec. 27, 2016

Most-Read Articles of 2016: Automation, Regulations and the CFO’s Role

ERP solutions and robotics were among the dominant themes of CFO’s top articles of the past year. Stories that explored the new role of CFOs and their need to expand their expertise beyond the traditional accounting function also garnered clicks from readers in 2016. Topical news items — such as ...

By CFO Editorial Staff • Dec. 23, 2016

How to Capitalize on Change

Anticipating and preparing for change is the essence of competitive advantage. While all leaders plan and communicate their strategy before the competition begins, it’s often necessary once in the race to make split-second decisions to redirect efforts.Michael G. Winston Michael G. WinstonEvery b...

By Michael Winston • Dec. 22, 2016

Revenue Recognition: The Clock Is Ticking

The new accounting standard for revenue recognition will likely affect every aspect of a business that relates to revenue, from a company’s financial results and compliance with debt covenants to executive compensation. Yet surveys show that many companies are dragging their feet and have yet to ...

By Eric Knachel • Dec. 21, 2016

A Guide to R&D Tax Rules

The tax rules governing research and development are complex, but they can yield significant benefits for a broad range of companies, not just those involved in scientific research.Developments in the tax benefits of R&D are such that all CFOs, controllers, tax directors, and accounting manag...

By Robert J. Rojas • Dec. 21, 2016

The Rising Risk of Being CFO

For CFOs, the margin for error continues to narrow as regulators strive to hold individuals responsible for companies’ misdeeds. In just a year, the pressure has been turned up considerably: In September 2015, U.S. Deputy Attorney General Sally Yates warned in a widely published memo that the Dep...

By Randy Myers • Dec. 19, 2016

Will All Companies Go to a Subscription Model?

If you’re ever awake, you probably know that the subscription-based, recurring-revenue business model is booming. But do you know just how big and loud that boom is?“Everything is going to move to subscription at some point,” claims Tyler Sloat, CFO of Zuora, a company that offers a comprehensive...

By David McCann • Dec. 16, 2016

General Electric to Raise $4B From Sales of Industrial Units

General Electric is planning to sell another of its smallest industrial units as it continues to streamline its operations.In a presentation for financial analysts, GE said it expected to raise $3 billion from the sale of the Industrial Solutions business, which supplies equipment to the electric...

By Matthew Heller • Dec. 15, 2016

Misleading Metrics?

One way of looking at the Securities and Exchange Commission’s increasing focus on companies’ use of non-GAAP metrics is as a good-versus-evil drama.On one hand, such measures — generally arrived at by backing out certain nonrecurring or noncash expenses from profitability measures shown in GAAP ...

By David McCann • Dec. 15, 2016

Quantifying Cyber Risks

Galvanized by recent cyber attacks against corporations, boards of directors are pushing risk managers and the insurance industry to quantify cyber risks. The demand for better predictive data on computer breaches stems from directors’ desire for clarity on how to either self-fund or transfer the...

By David Katz • Dec. 15, 2016

JetBlue Stock Soars on Share Buyback Boost

JetBlue Airways shares rose more than 4% on Tuesday after the airline announced it was doubling its share buyback program due to an unexpected windfall from checked bag fees and higher-priced fares.JetBlue had lagged behind other airlines in returning cash to shareholders as it focused on paying ...

By Matthew Heller • Dec. 13, 2016

Directors’ Top 2017 Goal: Managing Long-Term Strategy

In uncertain economic times, public-company boards have taken a more hands-on approach to shaping company strategy, according to a new survey by the National Association of Corporate Directors. Half of the 631 respondents said becoming proactively involved in the development of long-term strategy...

By Sean Allocca • Dec. 9, 2016

CFOs on the Move: Week Ending Dec. 9

Rafael Lizardi has been promoted to finance chief at Texas Instruments, effective Feb. 1. He takes over for Kevin March, who plans to aid in the transition until he retires in October of next year. Lizardi joined the firm in 2001 and was appointed vice president in 2010 and corporate controller i...

By Joan Urdang • Dec. 9, 2016

Short-Term Incentive Pay Criteria Are Shifting

The criteria for earning short-term incentive (STI) compensation appear to have entered a state of flux, judging by new research from the CFO Alliance.In particular, some companies are putting non-financial metrics, like customer or employee satisfaction, into the mix. But far more companies shou...

By David McCann • Dec. 8, 2016

How to Optimize a 401(k) Plan for Employer, Employees

Lately the benefits press has written an awful lot about the latest trend in employer-provided retirement benefits: making defined contribution (DC) plans look more like defined benefit (DB) plans.John Lowell John Lowell, PBGC premiumsPerhaps I’m missing something, but it appears that these initi...

By John Lowell • Dec. 6, 2016

CFOs on the Move: Week Ending Dec. 2

Jamie Pierson, whose deft financial gymnastics have helped struggling trucking company YRC Worldwide stay afloat, will leave his CFO post at year-end. The company said Pierson, after eight years of weekly commuting to its headquarters in Overland Park, Kan., plans to become finance chief at a bui...

By Joan Urdang • Dec. 2, 2016

SEC Probing Rio Tinto Over Coal Deal Writedown

Anglo-Australian mining company Rio Tinto has confirmed that the U.S. Securities and Exchange Commission is investigating a $3 billion writedown it took on an ill-fated Mozambique coal deal.The Financial Times said the investigation, which was first reported on Monday by the Australian Financial ...

By Matthew Heller • Dec. 2, 2016

GoPro Refocuses on Core Camera Business

GoPro is streamlining its operations as it attempts to return to profitability, announcing Wednesday it would cut 15% of its workforce and close its entertainment division.The wearable action-camera maker said its cost-cutting moves would reduce 2017 adjusted operating expenses to approximately $...

By Matthew Heller • Nov. 30, 2016