Private firms, not-for-profits reckon with CECL
CFO Dive
MARCH 18, 2024
Many not-for-profits and private companies are just beginning to grapple with the new rules for current expected credit loss accounting.
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CFO Dive
MARCH 18, 2024
Many not-for-profits and private companies are just beginning to grapple with the new rules for current expected credit loss accounting.
CFO Dive
FEBRUARY 10, 2023
The Swiss bank is aiming to incentivize executives with long-term awards as it attempts to return to profitability. It reported its second consecutive annual net loss.
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State-run gas transporter GAIL ’s net profit increased 121.1% crore on a standalone basis in the quarter ended December, as the natural gas marketing business — GAIL’s largest revenue earner — reported a before-tax profit of Rs 1,749.7 crore against a loss of Rs 73.7 GAIL revenue increased 65.9% y-o-y to Rs 26,427.4
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CFO Simplified
APRIL 17, 2022
As Iowa State University reminds us, “profitability is the primary goal of all business ventures.”. Business leadership is often responsible for measuring current, past, and future profitability. But what is profitability? This CFO Simplified client watched profitability slowly disappear—until they incurred a $125,000 loss.
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Lime wants to be the first micro-mobility company to be profitable for the full year as of 2021. Ellis said COVID-19 has “fundamentally changed the profitability model of our business.”. Ellis said everything is on the table because it’s all relevant to Lime’s future profitability picture and ultimate corporate destination.
CFO Dive
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The apparel rental service narrowed its losses in Q4, with revenue and active subscribers up from last year.
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If profits are overstated due to unreported losses, the entire financial picture is distorted, cant just look at the net worth, stated former ICAI President Amarjit Chopra.
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Abu Dhabi Development Holding Company (ADQ) has agreed to acquire a 96% stake in Bank Audi’s loss-making Turkish subsidiary, Odeabank, as the United Arab Emirates deepens economic relations with Turkey. This transaction aligns well with Bank Audi Group’s present strategic focus on its home market as well as its presence in Europe,” he added.
CFO News Room
NOVEMBER 5, 2022
in premarket trading despite reporting a smaller-than-expected quarterly loss and revenue that topped Wall Street forecasts. after reporting better-than-expected quarterly revenue, even though its loss was larger than analysts had anticipated. Cinemark (CNK) – The movie theater operator’s stock rallied 6.5% Warner Bros.
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Criticisms of the VC partnership model include: unrealistic growth expectations placed on startups, potential for misaligned incentives between founders and investors, a focus on short-term profits over long-term sustainability, pressure to make quick decisions that might not be in the best interest of the company, and the loss of control for founders (..)
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Notably, she reversed a decade-long loss at Coca-Cola, doubled profits, and restructured major funding. We ensure that profitability goals and community needs are met simultaneously, recognizing that long-term success depends on the well-being of the communities in which we operate. Leana van der Merwe: Thank you, Elizabeth.
CFO News Room
NOVEMBER 4, 2022
Check out the companies making the biggest moves midday: Starbucks — The Seattle-based coffee company jumped nearly 9% after reporting quarterly profit and revenue that topped expectations. Block — Shares jumped 10% after the mobile payments company surpassed profit and sales expectations in its third-quarter results.
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Missing a deadline isn’t just embarrassing; it can lead to penalties, delisting threats, or a loss of investor confidence. How do you explain to investors why your profits appear strong in one currency but less so in another? This gives your team breathing room and ensures you don’t rush to meet critical deadlines.
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It means making decisions based on what is right rather than what is easy or profitable in the short term. Businesses that engage in unethical practices may gain short-term profits, but they risk losing their reputation, which can take years to rebuild. Executives engaged in accounting fraud to hide losses and mislead investors.
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It’s when you’re forced to weigh conflicting priorities—profit versus integrity, loyalty versus legality, or personal values versus organisational goals. What’s at Stake: Misrepresentation might boost short-term results but exposes the company to legal liabilities, loss of investor confidence, and reputational harm.
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NOVEMBER 3, 2022
after the company reported a smaller-than-expected quarterly loss as well as revenue that topped analyst forecasts. UBS highlighted Tal’s strong topline beat and improved profitability outlook. after Royal Caribbean reported third-quarter earnings that beat profit and sales forecasts. per share loss.
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CFO News Room
NOVEMBER 10, 2022
Nio (NIO) – The China-based electric car maker posted a wider-than-expected quarterly loss, but said it expected deliveries to nearly double in the current quarter from a year ago. in the premarket after it reported a wider-than-expected quarterly loss. Nio shares jumped 5.5% in premarket trading. Rivian (RIVN) – Rivian rallied 8.2%
CFO News Room
FEBRUARY 3, 2022
Diversified conglomerate ITC on Thursday reported a 12.69% year-on-year (y-o-y) rise in its standalone net profit to Rs 4,156.20 crore net profit for the third quarter last fiscal. crore, while operating profit from the segment increased by 14.42% y-o-y at Rs 3950.71 crore, while the segment posted an operating profit of Rs 50.56
CFO News Room
JANUARY 19, 2023
Alcoa’s adjusted fourth quarter loss was 70 cents per share, narrower than the 81 cent loss expected, according to StreetAccount. However, the company’s adjusted EBITDA — a profit metric that includes fewer expenses than net income — missed estimates. Alcoa — Shares of the aluminum company fell 4.6%
CFO News Room
FEBRUARY 4, 2022
Technology shares are leading losses after Facebook parent Meta Platforms surprised investors with a bigger-than-expected profit drop. billion profit in the recent quarter. Eli Lilly reported quarterly profit and revenue that beat forecasts. Apple and Tesla were also down. ConocoPhillips reported a $2.6
CFO News Room
JANUARY 13, 2023
bank by assets rose more than 2% after the firm posted fourth-quarter profit and revenue that topped expectations. The New York-based bank said profit jumped 6% from the year earlier period to $11.01 The bank set aside $957 million for credit losses after reducing its provisions by $452 million a year ago. billion, or $3.57
CFO News Room
DECEMBER 21, 2022
Rite Aid — Shares of Rite Aid dropped nearly 14% in midday trading after the pharmacy operator reported a quarterly loss, though a smaller-than-expected one, and lowered its full-year financial guidance citing seasonal markdowns among other issues. The company also beat earnings expectations, but profits fell from the same period last year.
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Profitability While not all businesses applying for SBA loans must be highly profitable, they must demonstrate the ability to repay the loan. This reassures lenders that they have a way to recover losses in case of default. This shows lenders that you can manage your finances responsibly.
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DECEMBER 11, 2023
billion in retail inventory losses in 2021 was not “attributable to organized retail crime.” retailers retracted its claim that “organized retail crime” accounted for nearly half of all inventory losses in 2021 after finding that incorrect data was used for its analysis.” No, “ nearly half ” of $94.5
CFO News Room
NOVEMBER 7, 2022
Berkshire Hathaway — Shares of Warren Buffett’s conglomerate rose more than 1% after the company posted a 20% increase in operating profits during the third quarter. billion loss on its investments during the third quarter’s market turmoil, however. Berkshire also spent $1.05 billion in share repurchases during the quarter.
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CFO News Room
JANUARY 8, 2023
Bed Bath & Beyond — The retailer dropped 12.4%, building on the sharp losses seen Thursday, after management said the company is low on cash and considering bankruptcy. Silvergate Capital – The crypto-focused bank added to its Thursday losses following a downgrade from JPMorgan to neutral from overweight.
CFO News Room
NOVEMBER 24, 2022
Check out the companies making headlines before the bell: Deere (DE) – The heavy equipment maker reported better-than-expected profit and revenue for its latest quarter and issued an upbeat outlook. The computer maker also reported better-than-expected profit and revenue for its latest quarter. Its stock jumped 4.2%
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For example, if a company makes a risky investment that results in major financial losses, the leadership must take responsibility. These reports provide a clear picture of revenue, expenses, profits, and potential risks. On the other hand, poor governance can lead to mismanagement, financial collapse, and loss of reputation.
CFO News
AUGUST 30, 2023
On August 3, Zomato reported a maiden consolidated net profit of Rs 2 crore for the quarter ended June 2023, as against a loss of Rs 186 crore a year ago. The profitable turn came on the back of higher order frequencies from its loyalty programme, Gold.
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DECEMBER 2, 2022
Asana – Shares of the work management platform operator plunged about 11% after the company reported a loss for the most recent quarter, though it was narrower than expected. PagerDuty – Shares of the IT company rose more than 7% after it reported a slight profit for the third quarter, beating analysts’ expectations of a loss.
CFO News Room
NOVEMBER 19, 2022
in premarket trading after an unexpected return to profitability and better-than-expected sales. Williams-Sonoma reported better-than-expected sales and profit for its latest quarter. Farfetch (FTCH) – Farfetch reported a wider-than-expected quarterly loss with sales that also came in below analyst forecasts. Shares gained 4.4%
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MARCH 20, 2023
That was the best definition I could come up with: “ When an individual or company, through their own behavior and risk management, suffers a disastrous loss — but is then somehow made fully (or even partially) whole, and they do not have to suffer the impact of their own decision-making.”
CFO News Room
NOVEMBER 12, 2022
The provider of online language classes also reported a smaller-than-expected quarterly loss and increased its full-year revenue outlook. LegalZoom reported a quarterly loss that was smaller than analysts had anticipated and raised its full-year revenue forecast. Beazer benefited from gains in both home prices and profit margins.
PYMNTS
OCTOBER 16, 2020
In August, news surfaced that five of the country’s biggest state-owned lenders saw their largest profit losses in at least 10 years, as defaulted debt has jumped amid the coronavirus. During the first two quarters of 2020, these lenders also put more funds aside in anticipation of loan losses to come.
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The company operated two businesses: one generating about $30 million in EBITDA, while the other incurred annual losses of roughly $10 million. Gronen proposed a strategy to merge the two operations, consolidating efforts to increase profitability. Our AI tools help identify suspicious activities, reducing the risk of financial loss.
CFO News Room
FEBRUARY 1, 2023
The retailer could see upside to expected profit in 2024 and 2025 as its strategic plan takes shape, according to the firm. Peloton’s net loss was also the narrowest since the fiscal fourth quarter of 2021. Brinker International — Shares of the restaurant stock recouped its earlier losses and slid 0.5%
CFO News Room
DECEMBER 26, 2022
in the premarket after its quarterly profit and revenue fell well short of estimates. in premarket trading after the chip maker reported a wider-than-expected quarterly loss and revenue that fell short of Wall Street forecasts. in premarket trading after reporting better-than-expected profit and revenue for its latest quarter.
CFO News Room
FEBRUARY 3, 2022
Check out the companies making headlines before the bell: Boeing (BA) – Boeing reported a loss of $7.69 Analysts had expected a loss of 42 cents per share. AT&T (T) – AT&T gained 1% in the premarket after reporting better-than-expected fourth-quarter profit and revenue. per share for the fourth quarter, as it took $4.4
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