SEC charges Navy shipbuilder Austal with accounting fraud
CFO Dive
AUGUST 28, 2024
Austal understated an accounting metric known as “estimate at completion” for the construction of Littoral Combat Ships, according to SEC allegations.
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CFO Dive
AUGUST 28, 2024
Austal understated an accounting metric known as “estimate at completion” for the construction of Littoral Combat Ships, according to SEC allegations.
CFO Dive
APRIL 2, 2025
Accounting related to revenue recognition issues has been one of the thornier subjects tripping up report preparers in recent years.
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Book of Secrets on the Month-End Close
How To Break Digital Transformation Barriers And Accelerate AI Adoption
Forecasting Failures Are Costly: Heres How To Fix Them
Operational Strength Starts with People: The New Rules of Finance Leadership
What Your Financial Statements Are Telling You—And How to Listen!
CFO News Room
JANUARY 6, 2023
As 2022 closes and 2023 begins, we spoke with the members of our senior sales team for the construction industry to get their thoughts on the challenges construction companies will face in the new year. They have been through many business cycles and have seen construction businesses thrive, survive, and fail.
Book of Secrets on the Month-End Close
How To Break Digital Transformation Barriers And Accelerate AI Adoption
Forecasting Failures Are Costly: Heres How To Fix Them
Operational Strength Starts with People: The New Rules of Finance Leadership
What Your Financial Statements Are Telling You—And How to Listen!
Accountancy Today
JULY 25, 2022
Data from The Gazette Official Public Record revealed construction, manufacturing and retail were the sectors that accounted for almost 40% of administrations in 2022.
PYMNTS
DECEMBER 28, 2020
In the construction industry, the ERP is especially valuable considering the complex network of collaborators, and subsequent high volume of data, involved in a single project. From managing subcontractors to coordinating with insurance firms to paying employees, data sits at the heart of every construction project. "I
PYMNTS
JUNE 24, 2020
To help project managers and administrators save time, Centsoft has unveiled an accounts payable (AP) automation technology for firms in the construction industry. Its technology automatically brings in vendor accounts, the vendor register and currencies. It then puts the invoice information into a dashboard.
PYMNTS
NOVEMBER 9, 2020
Many of these processes are decades-old and must follow complex regulatory guidelines, as is the case in the construction industry. Construction companies are facing both time and cash crunches due to dwindling work opportunities and slower payment timelines during the crisis. Late or lagging payment processes can expand costs.
Navigator SAP
JUNE 16, 2023
Many industries have been using it for years, including accounting and law firms, marketing agencies, construction companies, and event management businesses, among others. Of course, project-based business organizations are not new.
Global Finance
DECEMBER 4, 2024
Driving the downturn is the contraction of the global diamond market, precipitated by reduced production and weakened demand, since diamonds account for 90% of Botswana’s foreign exchange earnings. Fiscal expansion through government-backed construction projects is expected to cushion the downturn. billion.
CFO News Room
DECEMBER 10, 2022
What Types of Accounts are Best for Compounding? Banks Savings Accounts. Most savings accounts, money market accounts, and certificates of deposit earn compound interest. Taxable vs. tax-deferred vs. tax-free accounts. It’s also possible to take advantage of tax-free accounts. 3) Money Market Accounts.
https://trustedcfosolutions.com/feed/
JULY 22, 2022
Multi-location and multi-entity businesses face unique problems when it comes to accounting. As businesses grow, so does the accounting complexity, requiring a customized financial management system. With the growth and development of AI, automation has brought significant changes to accounting software solutions.
PYMNTS
AUGUST 12, 2020
Palette Software unveiled accounts payable (AP) automation technology that is designed for firms in the construction and engineering industries and run on the cloud, according to an announcement. Finance administrators and project managers both benefit from automation of the accounts payable process.
PYMNTS
SEPTEMBER 29, 2020
The pain points that accounts receivable (AR) teams most commonly experience can be boiled down to three underlying and related problems: continued reliance on manual AR management practices, and the resulting lack of speed and high operating costs associated with managing receivables. Reliance on manual processes has far-reaching effects.
CFO Talks
NOVEMBER 14, 2024
Within finance teams, it’s about ensuring accountability and transparency. By leading with openness and accountability, a CFO can set a tone that encourages others to work more transparently and cooperatively. Transparency creates a sense of shared purpose and accountability. Share successes but also be open about challenges.
The Charity CFO
JANUARY 21, 2022
And the issue of restricted funds presents unique bookkeeping and accounting challenges for a nonprofit that a for-profit company doesn’t face. This accounting system is called fund accounting. This accounting system is called fund accounting. Who’s Required to Use Fund Accounting? .
The Charity CFO
APRIL 5, 2022
If you’re like many people, you probably think that there is a single set of accounting rules that every company must follow. . But that’s not quite true—nonprofits face a decision between 2 different accounting methods for tracking their financial activity: cash accounting vs. accrual accounting.
Global Finance
NOVEMBER 1, 2024
Key projects include the world’s largest solar powered reverse osmosis seawater desalination facility and the construction of the Abu Dhabi waste-to-energy facility, one of the largest in the Arab world.
Future CFO
FEBRUARY 27, 2024
For the accountancy profession, transformation has always been a part of the process, let alone the manner of life. For Harding, the accountancy profession, through its history, has continually adapted and seized future opportunities. “A
Accountancy Today
AUGUST 4, 2023
The retail sector accounted for 16% of administrations in the first six months of 2023 – the highest industry in the UK, according to analysis by full-service law firm Shakespeare Martineau. Retail, manufacturing, construction, hospitality and real estate were the worst-hit sectors, accounting for 57% of all administrations.
CFO Simplified
NOVEMBER 12, 2024
Business – HVAC construction company Location – St. They needed an interim Controller to put their accounting team back on track. The accounting manager left three months ago to work for a company with younger people. Their AR and AP accounting staff had been replaced twice in the past year.
PYMNTS
FEBRUARY 2, 2021
Although the concept is designed to support greater control over cash flow — especially for buyers — in the construction industry, “net terms” doesn’t necessarily mean what it implies. There are several other key pain points in construction B2B payments that harm both buyers and suppliers. Dual-Sided Pain Points.
The CFO Centre
JUNE 30, 2020
Using sound management reporting and project by project accounting would make it easier for construction companies to get funding from banks and other financial institutions to grow and scale their businesses, says Simon Parkins, a construction industry accounting specialist.
CFO Talks
NOVEMBER 29, 2024
These experiences introduced me to the broader business world and significantly accelerated my career. Following my articles, I moved into the corporate sector as a Group Accountant at Datacentrix, gaining insight into private sector finance. What key skills should a newly qualified accountant develop on their path to becoming a CFO?
PYMNTS
DECEMBER 15, 2020
The good news, however, is that two-thirds of firms are cognizant of these issues and are actively moving away from manual processes, planning instead to embrace new technological solutions to upgrade their accounts receivable (AR) processes for more efficiency, speed and lower fees. percent of firms in the construction sector, yet 28.2
Global Finance
MARCH 3, 2025
Finance products offered range from retail solar mortgages and special loans for electric vehicles to bonds financing the construction of massive wind-power farms and green steel manufacturing plants. Envision will use these funds for the construction of a 100 MW wind-power project to serve the national grid in Puyang.
Future CFO
FEBRUARY 9, 2025
The first thing we did was we had to account for everyone in our company and make sure that they were safe and sound. We couldnt ensure the availability of labour and supplies in our various construction sites, Cheng narrates. (CLI) recalls how the huge devastation became a precious opportunity to live out their values as a company.
CFO Talks
DECEMBER 4, 2024
What key skills should a newly qualified accountant develop on their path to becoming a CFO? The foundational theory and accounting practice is just a start. a CFO is a Constructive Critic; Ardent Supporter; Conscientious Objector; Conscience to the leadership team. Finance is essentially a support service for most businesses.
CFO Talks
MARCH 14, 2023
Written by Leigh Schaller “Growing up in my dad’s business, accounting was natural for me. In high school, I always received the accounting awards. It was a natural progression into the accounting industry,” Ehsaan Moosa, told the CFOClub podcast. He recently shared with CFOClub the knock on effects of load shedding.
PYMNTS
SEPTEMBER 24, 2020
Accounts payable (AP) teams are now taking a fresh look at the potential of tools such as virtual cards to ease their transaction frictions. The digital methods suit remote purchasing environments and offer security features that can make it difficult for fraudsters to use stolen card details. Find the full story in the Report.
Global Finance
OCTOBER 28, 2024
In July 2021, the World Bank approved a $470 million loan from the International Development Association, its commercial lender, for construction of the Lomé-Ouagadougou-Niamey corridor, 1,065 kilometers of road joining the capital cities of Togo, Burkina Faso, and Niger. The project was designed to optimize the use of the Port of Lomé.
CFO Talks
DECEMBER 11, 2024
Create a Culture of Accountability Accountability is a big part of achieving high standards. When feedback is constructive and actionable, it builds trust and helps your team grow. On the other hand, if you let details slip or miss deadlines, it sends the message that high standards dont matter.
Nerd's Eye View
MARCH 24, 2025
In this article, Senior Financial Planning Nerd Sydney Squires discusses how to construct an associate advisor onboarding plan that guides an associate advisor through their first year, establishes clear checkpoints for progress, yet still allows enough flexibility to grow with the new advisor!
Global Finance
MARCH 3, 2025
According to the International Energy Agency, Latin Americas share of renewable energy generation in 2023 was 60%, with hydropower alone accounting for 45% of the electricity supply. With an urbanization rate of over 80%, the transition to a more sustainable economy presents opportunities and challenges.
PYMNTS
AUGUST 30, 2020
Users of the China Construction Bank (CCB) began to notice the digital wallet feature, added suddenly and without fanfare to the mobile app. Users could search “digital currency” and find the app — and furthermore, they could activate it by entering the mobile phone number associated with their CCB account.
Embark With Us
JANUARY 5, 2022
It's not earth-shattering news to say accounting and finance haven't exactly been vanguards of innovation in the past. In fact, thanks to the flexibility and nuanced insights provided by a well-constructed dashboard, leaders can now analyze genuine business intelligence rather than 90-day-old metrics.
Global Finance
JUNE 6, 2024
Innovation: AI-Based Fund Monitoring Company: Eurasian Bank In Kazakhstan, would-be homeowners often engage in shared-equity construction, a process in which future owners buy shares in a house under construction. One shortcoming is that the actual use of funds isn’t always straightforward.
CFO Network
MARCH 18, 2024
Accounting is a pivotal area among the various outsourced functions. But before you jump on the bandwagon, let’s have a candid conversation: Does outsourced accounting work for small and medium-sized businesses (SMBs)? Accounting firms employ professionals proficient in various accounting and finance domains.
Global Finance
APRIL 7, 2025
The recent growth story is one of the best in the region, along with Croatia, says Radu Cracan, associate economist at the European Bank for Reconstruction and Development (EBRD), led by domestic consumption and public sector wage increases; whilst construction, particularly in the residential sector in Sofia and other cities, has been booming.
PYMNTS
OCTOBER 5, 2020
“The shift I have seen there,” she told PYMNTS of healthcare firms, “that was most effective is providers [the vendors] had their way of going through the process either from an [accounts payable] or [accounts receivable] perspective.”. Comdata, she said, has mimicked the flow from claims to invoice to payment to reconciliation.
CFO Talks
JANUARY 8, 2025
Constructive feedback is equally important. Allowing someone who primarily works in accounts payable to gain experience in forecasting or treasury provides them with a broader understanding of finance operations. Ask questions like, What skills would you like to develop? or Where do you see yourself in the next few years?
PYMNTS
SEPTEMBER 23, 2019
only agriculture and hunting invest less in digitization than the construction industry, according to recent data. Even so, the global construction management software market is projected to expand at a compound annual growth rate (CAGR) of 9.2 In the U.S., percent from 2018 to 2022. Freeing Up Cash Flow.
PYMNTS
NOVEMBER 5, 2020
Construction companies need to ensure they can swiftly purchase materials and other supplies to complete their projects and maintain steady cashflows. Many corporate buyers are finding that using paper checks increases their accounts payable (AP) expenses unnecessarily as well, and vendors often want to get paid faster than checks allow.
CFO Talks
MARCH 2, 2023
CFO Club Africa is a division of the Chartered Institute of Business Accountants, the professional body for business accountants, financial managers and chief financial officers. and join our community of accounting and finance executives. Ehsaan is a Chartered Accountant. Go to www.cfoclub.co.za
PYMNTS
JANUARY 6, 2020
Among the success stories of the nation’s efforts to combat late supplier payments is construction firm Kier Construction, which, according to The Construction Index , has been reinstated to the U.K. FinTech innovation has taken steps to address the late payments challenge in construction and beyond.
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