Finance Roundup for Executives

Standout StoriesPost-merger integration… The list of high-profile mergers that have faltered or failed due to a clash of cultures is long. It’s a serious and common problem — and largely avoidable. When it comes to integration, as one of our clients likes to say, “culture trumps strategy.”In our ...

By Kerry Maruna • March 16, 2016

Small Business CFOs Report Fewer Cyber Attacks

Less than one-fifth of finance executives at small and midsize businesses say their companies have experienced a cybersecurity attack in the last 24 months, according to a survey conducted by CFO in early February 2016. The 22% of finance executives reporting an attack is significantly less than ...

By Vincent Ryan • March 15, 2016

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

Metric of the Month: Total Cost of the Finance Function

It wasn’t so long ago that the term “finance” brought to mind large teams of accountants sitting at desks and slogging through spreadsheets day after day. Thank goodness for technological advances that made it possible for finance teams to do so much more in so much less time. Right?Here’s the su...

By Mary C. Driscoll • March 15, 2016

Finance Roundup for Executives

Standout StoriesHealth care… Savile in London is best known for producing some of the world’s finest bespoke suits. But tucked away in a quiet corner of the same street is a firm that gives tailored health advice through a smartphone app. Your.MD uses artificial intelligence to understand natural...

By Kerry Maruna • March 15, 2016

SEC Faults Magnum Hunter’s Internal Controls

The former CFO and former chief accounting officer of Magnum Hunter Resources have been charged with failing to identify staffing problems in the oil company’s accounting department as a material weakness that should be disclosed publicly.In a complaint filed last week, the U.S. Securities and Ex...

By Matthew Heller • March 14, 2016

Listen: Cyber Threats and the Problem of Sharing

Although a brave new world of corporate sharing of cyber threat information is arising, there are still concerns about government involvement.CFO.com Editor in Chief Vincent Ryan interviews Deputy Editor David M. Katz about the challenges that companies face in using the Cybersecurity Information...

By CFO Editorial Staff • March 14, 2016

Finance Roundup for Executives

Standout StoriesGeneral Motors and driverless cars… General Motors is accelerating its push into self-driving cars by acquiring Cruise Automation, a startup that has developed a system for retrofitting existing vehicles with autonomous-driving software.GM cited Cruise’s “deep software talent and ...

By Kerry Maruna • March 14, 2016

Staffing Firm Fires CFO for Misstating Costs

Barrett Business Services has disclosed that it fired CFO James D. Miller after learning that he made “unsupported journal entries” in financial records during each calendar quarter of 2013.The staffing solutions provider said in a regulatory filing Wednesday that Miller notified its audit commit...

By Matthew Heller • March 11, 2016

CFO Readers’ Choice Awards 2016

We want to know who your favorites are!CFO magazine is conducting a survey of its readers to determine their preferred financial software products and service providers. This is your opportunity to vote for your favorite accounting firm, bank, consulting firm, 401(k) recordkeeper, insurer, ERP pr...

By 10Rule • March 11, 2016

Deutsche Börse Sells ISE To Nasdaq For $1.1B

Deutsche Börse is offloading an operator of three U.S. equity options exchanges to Nasdaq, a move analysts say could boost the German exchange operator’s prospects in a proposed merger with London Stock Exchange (LSE).Frankfurt-based Deutsche Börse on Wednesday said that it was selling Internatio...

By Katie Kuehner-Hebert • March 10, 2016

Ex-CFO Charged With Deceiving Uni-Pixel Investors

The former CFO of Uni-Pixel Inc. made about $1.2 million in profits from selling his shares in the company after misleading investors about the prospects for its touchscreen devices, the U.S. Securities and Exchange Commission said.The SEC on Wednesday charged both ex-CFO Jeffrey Tomz and ex-CEO ...

By Matthew Heller • March 10, 2016

U.S. Budget Deficit Holds Steady at $193B

The United States government continues to run a budget deficit near a seven-and-a-half year low ahead of an expected increase as spending measures for 2016 kick in.The gap between government spending and revenue was $193 billion in February, the Treasury Department said Thursday, up only slightly...

By Matthew Heller • March 10, 2016

$300B Capex Lost in Recession Goes Unreplaced

Nearly $300 billion in capital expenditures cut by U.S. companies during the recession had not been replaced through May 2015, according to a 15-year study of capex released recently by the Georgia Tech Financial Analysis Lab.  Capital spending for U.S. non-financial firms with revenues of more t...

By David Katz • March 9, 2016

Finance Roundup for Executives

Standout StoriesShareholder topics 2016… A volatile stock market, stagnant wages, global economic challenges, a strong U.S. dollar, and a presidential election like no other are just a few of the factors contributing to a growing feeling of uncertainty in corporate board rooms around the country....

By Kerry Maruna • March 9, 2016

Finance Roundup for Executives

Standout StoriesMachines may be taking over finance… I [John Parkinson] have been interested in artificial intelligence (AI) – the concept that humans can design a machine that thinks for itself without explicitly provide instructions (or a “program”) — since the early 1970s. As an undergraduate ...

By Kerry Maruna • March 8, 2016

Intuit Completes Divestitures With QuickBase Sale

Intuit has completed the divestitures of three businesses intended to shed non-core assets, agreeing to sell the QuickBase software-development unit to private-equity firm Welsh, Carson, Anderson & Stowe for an undisclosed amount.QuickBase, which provides tools for businesses to build and cus...

By Matthew Heller • March 8, 2016

Conquering Foreign Currency Concerns

Corporate treasurers are no strangers to the obstacles restless currency markets can create for cash management and accounting, yet few anticipated the currency turbulence of 2015. To help conquer any issues, CFO offers the following stories and content on foreign exchange risks, hidden costs of ...

By Kerry Maruna • March 8, 2016

Facebook Changes U.K. Accounting Policy

Facebook is making an accounting change that will generate higher taxable profits in Britain but may ease criticism over its overseas tax arrangements.Starting in April, the world’s largest social network will book revenues from its largest U.K. advertisers through its local subsidiary, rather th...

By Matthew Heller • March 7, 2016

Road Haulage: The Appy Trucker

Mention “logistics” and it may bring to mind shiny FedEx or UPS vans with their neatly uniformed drivers. However, the business of shifting cargo by road, especially larger loads, is far more fragmented and inefficient than the image of its best-known brands would suggest.Even the world-famous na...

By Economist Staff • March 7, 2016

Finance Roundup for Executives

Standout StoriesChina devalues Yuan… The G20 did nothing last weekend. And that’s really something. Especially for U.S. companies like Apple.Leading up to the G20 summit, there was hope that world leaders might strike a new currency agreement. But no such luck. Even U.S. Treasury Secretary Jacob ...

By Kerry Maruna • March 7, 2016

Slowdown in Smartphone Sales Seen for 2016

The smartphone industry will decelerate to single-digit growth this year, with Apple’s iPhone being hit harder than Android devices, according to IDC.The market research firm said Thursday that after rising by 10.4% to 1.44 billion units last year, smartphone shipments will grow only 5.7% in 2016...

By Matthew Heller • March 4, 2016

Finance Roundup for Executives

Standout StoriesPerils of plant equipment… A roll of paper towels accidentally left in the belly of a turbine after routine maintenance. That was all it took to destroy a million-dollar piece of equipment at one of our customer’s power-generation facilities. Although a turbine is a beast of a mac...

By Kerry Maruna • March 3, 2016

Monsanto Lowers 2016 EPS Guidance

Chemicals maker Monsanto on Wednesday lowered its 2016 earnings guidance due to several variables creating “significant headwinds,” namely, weak foreign currencies; weak prices for generic glyphosate, the main ingredient in Roundup weed killer; compressed grower margins coming from lower commodit...

By Katie Kuehner-Hebert • March 3, 2016

C-Suite Optimism Falls Sharply: AICPA

Business executives’ optimism about the U.S. economy has fallen to its lowest level in more than three years, according to the American Institute of CPAs’ first quarter Economic Outlook Survey released on Thursday.Just above a quarter (28%) of the 540 top-level executives with CPAs said they were...

By Katie Kuehner-Hebert • March 3, 2016

Exxon to Cut 2016 Capital Spending by 25%

The prolonged commodities rout is taking its toll on the largest U.S. oil company, with ExxonMobil announcing it plans to cut capital spending 25% this year.Exxon anticipates capital spending of $23 billion in 2016, down from a reduced $31.1 billion in 2015. About a year ago, the company had proj...

By Katie Kuehner-Hebert • March 2, 2016