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CFO's secret weapon against coronavirus: Scenario planning

From CFODive: As the coronavirus pandemic began gripping the United States, Dennis McGonigle, CFO of Oaks, Pennsylvania-based SEI Investments, recalled the advice of his daughter’s field hockey coach: perfect practice makes perfect.  SEI Investments is a wealth and investment management company delivering infrastructure platforms, solutions and services to financial services c ...

Five CFOs Reflect On COVID-19’s March Madness

From Forbes: TRIAL BY FIRE Andrew Casey, CFO, WalkMe, San Francisco, CA Before joining San Francisco software developer WalkMe as CFO in early March, Andrew Casey spent nearly six years with cloud computing steady-climber ServiceNow, of Santa Clara, California, where he served as senior vice president of finance and business operations. Prior to its ServiceNow entry, Casey’s ...

4 tough questions CFOs need to ask during the COVID-19 crisis

From CFO Daily News: You’re currently bombarded by information about COVID-19, the coronavirus pandemic gripping the world right now, much of it changing hour to hour. You’re likely bombarded by questions too — from employees, customers, your CEO. But it’s critical you as CFO also ask a few key questions to make sure your business is ready to weather the uncertain times ahead. ...

The top cybersecurity threats Finance should watch for in 2020

You know that cybersecurity threats never stop. Criminals are always finding fresh ways to snag secure information or trick your staff into wiring payments, reports CFO Daily News. What types of risks should your company be wary of this year? To answer that question, Trend Micro compiled a list of the top cybersecurity threat predictions for 2020. As CFO, you keep a pulse on ...

Virus Relief Bill Targets $350bn for Small Businesses

From Cfo.com: “We are cautiously optimistic that this will provide the cash flow that small businesses needed yesterday." The historic $2 trillion emergency relief bill approved by the U.S. Senate includes a $350 billion loan program aimed at helping small businesses weather the economic storm from the coronavirus. CNBC said the Paycheck Protection Program could be a “potenti ...

Companies Brace for Impacts to Top & Bottom Lines over Covid-19

Most companies are quickly shifting strategies as they size up COVID-19’s likely impacts on revenue and profits, PwC finds. From Cfo.com. CFOs are expecting the COVID-19 pandemic to him them where it hurts most: their top and bottom lines. In a PricewaterhouseCoopers poll of 50 U.S. and Mexico finance leaders conducted March 9-11, more than half (58%) said they expect decreas ...

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. ...

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