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The Challenge of Accounting for Goodwill

From CPA Journal:  Determining how to account for the goodwill found in business combinations has been a hotly debated topic for decades. Standards setters have promulgated numerous different approaches over time, and in the past decade FASB has released several pieces of guidance aimed at streamlining the current impairment model. The authors explain how a new proposal has pu ...

35 questions for coronavirus planning

It’s reasonable to be concerned about the spread of the coronavirus worldwide, according to this posting from Journal of Accountancy. But it’s not the time to panic, especially for organizations, said Jennifer Elder, CPA/CFF, CGMA, a consultant and author. Business leaders should be proactive in putting emergency plans in place: for employee well-being, business continuity, rem ...

FASB provides accounting relief for LIBOR transition

From Journal of Accountancy: FASB issued a standard Thursday that is designed to give financial statement preparers relief as they make the transition away from the London Interbank Offered Rate (LIBOR) and other similar rates that are being discontinued. LIBOR and other interbank offered rates are widely used as benchmarks or reference rates in loans, derivatives, and other f ...

Coronavirus powerpoint to calm employee nerves

The Coronavirus has businesses and employees alike on edge. This exclusive CFO Daily News PowerPoint presentation can help. Share this with Finance staffers and the rest of your workforce to help keep nerves down and productivity up. ...

Good CFO/Bad CFO

There's a stark contrast between an effective finance chief and an ineffective one. Here are the major differences, reports Cfo.com. Good CFOs are voracious readers, and we’ve had the pleasure of reading Ben Horowitz’s Good Product Manager/Bad Product Manager awhile ago. As an homage to Ben, we borrowed his format and applied it to the CFO in 2020. A good chief financial offi ...

The CEO Life Cycle: A Study of Performance over Time

Astonishingly, this study from Harvard Business Review suggests it can take 10 years in the position before a CEO really shines. Before that there are some potholes and bumps that must be navigated.  The executives who appear on Harvard Business Review’s 2019 list of best-performing CEOs in the world show remarkable longevity in their roles: The average honoree has been CEO fo ...

What happens when a CFO is falsely accused of fraud?

A CFO speaks publicly of his four-year ordeal battling accounting fraud charges. From Cfo.com.  By Gregory Law. It should go without saying that CFOs should be ethical. Most of the ones I’ve met are. But if you’re a public company CFO, you should be aware that there are circumstances in which the enforcement division of the Securities and Exchange Commission may assume there ...

CFOs must decode data to fuel the next wave of growth

From Accounting Today: CFOs have more data at their fingertips than anyone else in their company. The process of extracting value from diverse data sets is not simple, but it's exactly how CFOs expect new insights to emerge. To get it right, they must overcome significant barriers in capturing data, adopting new technologies and deploying talent in new ways. The upshot is an ac ...

Accounting Background No Longer Needed For CFO Jobs

Having an accounting background is no longer a must for a company’s chief financial officer (CFO), according to a report by The Wall Street Journal. For example, when directors of Hannon Armstrong Sustainable Infrastructure Capital were looking for someone to fill the role, they were more worried about hiring someone who had experience with raising debt and equity, and they di ...

Cost Accounting Standards Board still working on conforming with GAAP

The Cost Accounting Standards Board, a group set up by Congress in 1970 to make sure federal contractors charge their costs appropriately, is finally making some progress in aligning its 19 cost accounting standards with U.S. GAAP after Congress mandated in 2017 that it do so where practicable, reports Accounting Today. A new report from the Government Accountability Office fo ...

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