Financial Task Force Targets Climate Risk

The global financial crisis of 2008 and 2009 spawned a new institution, the Financial Stability Board, set up by the G20 nations to ensure balance in the world’s financial markets. In the eight years since, the FSB has addressed issues like credit ratings and market liquidity. But more recently, ...

By Dylan Tanner • Nov. 21, 2017

QuickBooks Online Powers Intuit Sales Surge

Financial software maker Intuit easily beat quarterly earnings estimates amid continued strong growth in QuickBooks Online subscribers.For the first quarter, Intuit posted adjusted earnings per share of 11 cents, up 83% year over year, on revenue of $886 million, up 14%. Analysts had expected ear...

By Matthew Heller • Nov. 20, 2017

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

Foot Locker Beats Estimates, Stock Climbs 26%

Foot Locker’s key metrics fell across the board in the latest quarter but the declines were less than Wall Street anticipated, sending the retailer’s shares up more than 26% in trading Friday.The stock had fallen more than 55% before Friday’s earnings report as new athletic footwear styles failed...

By Matthew Heller • Nov. 17, 2017

Wal-Mart Heads Into Holidays on Sales Surge

Wal-Mart Stores shares soared to an all-time high after the world’s largest retailer posted better-than-expected quarterly results that suggested it is holding its own in the competitive battle with Amazon.For the third quarter, Walmart same-store sales in the U.S., excluding fuel, rose 2.7%, as ...

By Matthew Heller • Nov. 17, 2017

iPhone X Production Woes Hit Foxconn Profit

iPhone X production problems took their toll on Apple manufacturing partner Foxconn Technology Group, which reported its largest quarterly earnings decline in a decade.The Taiwanese company, formally known as Hon Hai Precision Industry Co., is assembling the iPhone X and Apple accounts for more t...

By Matthew Heller • Nov. 15, 2017

Target Stock Falls 8% on Holiday Season View

Target on Wednesday reported better-than-expected quarterly sales but its stock fell sharply on a disappointing forecast for the crucial holiday season.Target’s projection of flat to 2% growth in fourth-quarter same-store sales appeared to revive investors’ doubts over its turnaround plan. The re...

By Matthew Heller • Nov. 15, 2017

Rev Rec Rule Transforms Accounting: FASB’s Siegel

Issuing the Financial Accounting Standard Board’s revenue recognition rule, which will go into effect for many companies in a month, is perhaps the board’s most “transformative” action in the last decade, according to outgoing FASB member Marc Siegel. Marc Siegel The rule, a converged effort by F...

By David Katz • Nov. 15, 2017

How Tax Bills Could Impact Company Finances

If either of the tax bills put forth by House or Senate Republicans passes in its current form, both public-company and private-company financial statements could be significantly impacted. And that impact could come soon, as companies would have to implement the changes the law stipulates during...

By Anthony DiGiacinto and Murray Solomon • Nov. 15, 2017

Cisco to Break 2-Year Streak of Declining Sales

Cisco Systems shares rose nearly 6% on Wednesday after the network equipment maker reported better-than-expected quarterly earnings as it continues its shift from hardware to high-margin businesses.For the first quarter, Cisco’s revenues fell 2% year on year to $12.136 billion. But that beat anal...

By Matthew Heller • Nov. 15, 2017

Hurricanes Add $282M to Home Depot Sales

While the recent hurricanes battered many retailers, Home Depot told a different story on Tuesday, reporting strong same-store sales growth and earnings that beat estimates.Hurricanes Harvey and Irma sent consumers to Home Depot stores in the southern states for generators, flashlights and rebuil...

By Matthew Heller • Nov. 14, 2017

How Tax Departments Can Take On Evildoers

Liam Neeson pretty much set the standard for swagger in dealing with terrorist finance in the movie “Taken“ when he unleashed his famous monologue:“I don’t know who you are. I don’t know what you want. If you are looking for ransom, I can tell you I don’t have money, but what I do have are a very...

By Brian Peccarelli • Nov. 14, 2017

GE Makes First Dividend Cut Since Depression

Three weeks after General Electric new chief executive said it needed to make “some major changes with urgency,” the engineering conglomerate has done just that.GE said Monday it will cut its quarterly dividend to 12 cents from the prior 24 cent payout due to weaker-than-expected cash flows in it...

By Matthew Heller • Nov. 13, 2017

Low Feed Costs Boost Tyson Foods Q4 Results

Tyson Foods on Monday reported better-than-expected quarterly earnings, reflecting lower livestock feed costs after four straight years of bumper harvests.Tyson’s feed costs fell $65 million and $80 million for the fourth quarter and fiscal 2017, respectively, and it is expecting the trend to con...

By Matthew Heller • Nov. 13, 2017

Sizing Up the New Hedge Accounting Rules

It’s just over a year until the scheduled effective date for Accounting Standards Update 2017-12, the long-awaited update to the Financial Accounting Standards Board’s derivatives and hedge accounting standard.Chandu Chilakapati The goal of the update, issued in August of this year, is to align f...

By Chandu Chilakapati • Nov. 10, 2017

Macy’s Comp Sales Drop 3.6%, Earnings Beat

Macy’s reported an 11th straight quarterly decline in same-store sales but its stock rose 11% as the retailer’s tight control of inventory drove a beat on earnings.For the third quarter, Macy’s comparable store sales fell 3.6% following a 2.8% drop in the prior reporting period. Total net sales d...

By Matthew Heller • Nov. 10, 2017

Hertz Returns to Profit But Shares Drop 2%

Hertz reported its first quarterly profit in a year but investors appeared unsure about the progress of its turnaround plan as its shares fell more than 2% in trading Friday.The car rental company said Thursday its third-quarter net income rose to $93 million, or $1.12 per share, from $42 million...

By Matthew Heller • Nov. 10, 2017

Sales Rebound Drives JC Penney Stock up 14%

J.C. Penney’s third-quarter results gave a surprising boosts to hopes of a turnaround at the retailer, with same-store sales showing their first gain in a year.The 1.7% increase in comparable store sales topped analysts’ estimates of a 0.7% upswing and followed a 1.3% decline in the second quarte...

By Matthew Heller • Nov. 10, 2017

Metric of the Month: Annual Budget Cycle Times

It’s budget season again. How long will your budgeting process take this year, compared to last? If you don’t know the answer, there may be room for improvement in the cycle time to complete your organization’s annual budget.Let’s be honest: When you ask most CFOs and business unit managers about...

By Marisa Brown • Nov. 10, 2017

Square Revenue Jumps 33% to $585 Million

Payments company Square reported strong top-line growth for the third quarter, driven by gross payment volume gains among both larger and midmarket users.Square’s total net revenue increased 33% year-over-year to $585 million while adjusted revenue rose 45% to $257 million. The company posted a l...

By Matthew Heller • Nov. 9, 2017

Storms Dent Wendy’s Same-Store Sales in Q3

The recent hurricanes may have caused Wendy’s to miss quarterly same-store sales estimates as the burger chain also faced increasing competition from rivals McDonald’s and Burger King.Wendy’s reported Wednesday that same-restaurant sales in North America rose 2.% in the third quarter, missing ana...

By Matthew Heller • Nov. 8, 2017

Royal Caribbean Cruises to Record Q3 Earnings

Royal Caribbean Cruises reported record third-quarter earnings on Tuesday even though the recent hurricanes cost it more than $55 million, or $0.26 per share.The cruise operator’s net income rose 8.6% to $752.8 million or $3.49 per share, including a $0.20 negative impact from the hurricanes, whi...

By Matthew Heller • Nov. 7, 2017

FP&A Technology Explained

For those involved in financial planning and analysis, the bad news is that the work can be boring much of the time. The good news: It’s quickly getting more interesting.As with many corporate processes, technology is driving fundamental changes in FP&A. Thanks to a new generation of tools, t...

By Keith Button • Nov. 7, 2017

The Impact of the House Tax Cut Bill on CFOs

The House Ways and Means Committee recently released a series of talking points that serve as an outline of the major features of the House tax bill, which is tentatively titled “the Tax Cuts and Jobs Act.” The House bill, which appears to be  a synthesis of President Trump’s campaign tax plan an...

By Matthew A. Morris • Nov. 7, 2017

Location Lures

There seems to be no limit these days to what U.S. states and cities will do to lure businesses to their communities. Incentives recently dangled in front of companies include the $3 billion in tax breaks — amounting to $15,000 to $19,000 per job annually — that Wisconsin’s governor has offered F...

By Bob Violino • Nov. 6, 2017

CVS Beats Estimates But Same-Store Sales Fall

CVS Health on Monday reported quarterly earnings that beat analysts’ expectations on strong growth in pharmacy services but its retail drugstore business continued to lag.For the third quarter, CVS’ net revenue increased 3.5%, or $1.6 billion, to approximately $46.2 billion while net income fell ...

By Matthew Heller • Nov. 6, 2017