Room for Improvement (But Not Much)

As the economy continues to struggle, U.S. companies are still looking for ways to improve their working-capital performance. But a new report from CFO Research Services (in conjunction with The Royal Bank of Scotland) suggests that further gains will, for the most part, be modest, if only becaus...

By CFO Editorial Staff • Nov. 1, 2010

Capitalize Chapter 11 Liabilities in a Sale

In a hypothetical example, a seller (SellCo) files for Chapter 11 protection under the U.S. Bankruptcy Code. Shortly thereafter, another corporation (Alpha Corp.) files with the court an “asset purchase agreement” detailing the proposed sale of substantially all of SellCo’s assets to Alpha. The a...

By Robert Willens • Nov. 1, 2010

Explore the Trendline➔

Tax policy shifts: What CFOs need to know to stay ahead

Discover how evolving tax policies are creating new opportunities and challenges for CFOs.

By CFO.com staff

18,000 Errors and Counting

An initial assessment of XBRL-tagged financial statements reveals thousands of errors traceable to multiple causes, yet both the Securities and Exchange Commission and XBRL US (the consortium of accounting firms, software companies, and consultants that develops the taxonomy, or digital dictionar...

By David McCann • Nov. 1, 2010

Technical Difficulties

The Victorian-era Imperial Hotel in Chestertown, Maryland, is partly owned by its de facto finance chief, Judith O’Dell, and her husband. Like many small-business owners, O’Dell uses the off-the-shelf software package QuickBooks to manage the Imperial’s finances.O’Dell, it should be noted, is no ...

By Marie Leone • Nov. 1, 2010

Room for Improvement (But Not Much)

As the economy continues to struggle, U.S. companies are still looking for ways to improve their working-capital performance. But a new report from CFO Research Services (in conjunction with The Royal Bank of Scotland) suggests that further gains will, for the most part, be modest, if only becaus...

By CFO Editorial Staff • Nov. 1, 2010

Technical Difficulties

The Victorian-era Imperial Hotel in Chestertown, Maryland, is partly owned by its de facto finance chief, Judith O’Dell, and her husband. Like many small-business owners, O’Dell uses the off-the-shelf software package QuickBooks to manage the Imperial’s finances.O’Dell, it should be noted, is no ...

By Marie Leone • Nov. 1, 2010

Spreadsheets: Retaining Numerical Values

Editor’s Note: To read more about spreadsheets, share a tip with other readers, or suggest a topic for Bill Jelen to cover in an upcoming column, click here to visit CFO.com’s Spreadsheet Tips page.Reader Rolando J. wins a copy of the book Excel for the CEO for his question: “How do you display n...

By Bill Jelen • Oct. 27, 2010

Audit-Fee Fall: It’s a Matter of Trust

The decline in audit fees since 2007 has been a boon for companies, which have struggled to cut costs for most of that period. But are investors getting the short end of the deal?Lynn Turner, a former chief accountant at the Securities and Exchange Commission, thinks that may be the case. Turner,...

By David McCann • Oct. 27, 2010

Audit-Fee Fall: It’s a Matter of Trust

The decline in audit fees since 2007 has been a boon for companies, which have struggled to cut costs for most of that period. But are investors getting the short end of the deal?Lynn Turner, a former chief accountant at the Securities and Exchange Commission, thinks that may be the case. Turner,...

By David McCann • Oct. 27, 2010

Poll: New Tax Rule to Feed Tensions

Nearly half of the 1,100 senior executives polled in a recent survey claim that new disclosure rules for uncertain tax positions will create tensions among their audit firms, tax advisers, and tax departments. Indeed, 47% expect concerns to grow as companies begin to file the Internal Revenue Ser...

By Marie Leone • Oct. 25, 2010

Poll: New Tax Rule to Feed Tensions

Nearly half of the 1,100 senior executives polled in a recent survey claim that new disclosure rules for uncertain tax positions will create tensions among their audit firms, tax advisers, and tax departments. Indeed, 47% expect concerns to grow as companies begin to file the Internal Revenue Ser...

By Marie Leone • Oct. 25, 2010

Digging into Intangibles

As companies begin to prepare for year-end closings, some will look to identify and value their intangible assets. As a result, they may find guidance issued last year by the Internal Revenue Service useful as they sort through their balance sheet.In the case cited in a private-letter ruling rele...

By Robert Willens • Oct. 25, 2010

Digging into Intangibles

As companies begin to prepare for year-end closings, some will look to identify and value their intangible assets. As a result, they may find guidance issued last year by the Internal Revenue Service useful as they sort through their balance sheet.In the case cited in a private-letter ruling rele...

By Robert Willens • Oct. 25, 2010

Influencing the Future of IFRS in the United States

There are three techniques that enable CFOs to plan intelligently for the future despite the many unknowns associated with the use of international financial reporting standards (IFRS) in the United States. In previous columns (see Related Articles, below), I gave an overview of all three techniq...

By Bruce Pounder • Oct. 22, 2010

Influencing the Future of IFRS in the United States

There are three techniques that enable CFOs to plan intelligently for the future despite the many unknowns associated with the use of international financial reporting standards (IFRS) in the United States. In previous columns (see Related Articles, below), I gave an overview of all three techniq...

By Bruce Pounder • Oct. 22, 2010

A Relentless Pursuit of Global Rules

Until he stepped down last year, Tom Jones was the only person who had ever served as vice chairman of the International Accounting Standards Board. But as director of the Center for the Study of International Accounting Standards at New York’s Pace University, Jones continues to promote internat...

By Marie Leone • Oct. 21, 2010

A Relentless Pursuit of Global Rules

Until he stepped down last year, Tom Jones was the only person who had ever served as vice chairman of the International Accounting Standards Board. But as director of the Center for the Study of International Accounting Standards at New York’s Pace University, Jones continues to promote internat...

By Marie Leone • Oct. 21, 2010

When in Doubt, Print It Out

For the past six months, Stephen Pedneault has been on a soapbox, decrying technology’s negative effects on the detection, prevention, and resolution of accounting and financial fraud. “When it comes to internal controls, we need to go back to basics,” he proclaims.Not exactly a Luddite, Pedneaul...

By David Katz • Oct. 21, 2010

Spreadsheets: Worksheet Toggle Solution Revealed

Editor’s Note: To read more about spreadsheets, share a tip with other readers, or suggest a topic for Bill Jelen to cover in an upcoming column, click here to visit CFO.com’s Spreadsheet Tips page.Reader Danny D wins a copy of the book Learn Excel 97-2007 From MrExcel for her question: “How can ...

By Bill Jelen • Oct. 20, 2010

Spreadsheets: Worksheet Toggle Solution Revealed

Editor’s Note: To read more about spreadsheets, share a tip with other readers, or suggest a topic for Bill Jelen to cover in an upcoming column, click here to visit CFO.com’s Spreadsheet Tips page.Reader Danny D wins a copy of the book Learn Excel 97-2007 From MrExcel for her question: “How can ...

By Bill Jelen • Oct. 20, 2010

FASB Looks to Change Goodwill Impairment Testing

Earlier this month, the Financial Accounting Standards Board proposed two critical changes to the way companies test for impairment of goodwill. Specifically, the board adopted the so-called equity premise to standardize the determination of the carrying amount of a reporting unit. In addition, F...

By Robert Willens • Oct. 18, 2010

Debunking IFRS Myths

Since 2002, the Financial Accounting Standards Board and the International Accounting Standards Board have been working to converge U.S. generally accepted accounting principles and international financial reporting standards. As expected, the project has sparked controversies — particularly in t...

By Marie Leone • Oct. 14, 2010

Spreadsheets: Wrangling a VLOOKUP

Editor’s Note: To read more about spreadsheets, share a tip with other readers, or suggest a topic for Bill Jelen to cover in an upcoming column, click here to visit CFO.com’s Spreadsheet Tips page.Reader Cassi M. wins a copy of the book Guerilla Data Analysis Using Microsoft Excel for her questi...

By Bill Jelen • Oct. 13, 2010

Dutch Regulator to Head IASB

Former Dutch finance minister Hans Hoogervorst has been tapped to succeed Sir David Tweedie as chairman of the International Accounting Standards Board. The appointment was announced Tuesday by the trustees of the IFRS Foundation, the parent organization of the IASB.Tweedie, who will step down at...

By Marie Leone • Oct. 12, 2010

Dutch Regulator to Head IASB

Former Dutch finance minister Hans Hoogervorst has been tapped to succeed Sir David Tweedie as chairman of the International Accounting Standards Board. The appointment was announced Tuesday by the trustees of the IFRS Foundation, the parent organization of the IASB.Tweedie, who will step down at...

By Marie Leone • Oct. 12, 2010