September 18, 2019

Chief Accounting Officers

Elon Musk smoking a blunt

Tesla’s Chief Accounting Officer Nopes on Up Outta There After Just a Month on the Job

Tesla is having a tough time hanging onto a chief accounting officer, you guys. Dave Morton joined the company in early August after a stint as CFO of Seagate Technology. The day after Morton joined Tesla, CEO Elon Musk tweeted that he was thinking about taking the company private and buying out investors at $420 […]

cybersecurity controllers accounting

How Controllers Can Step Up Their Cybersecurity Game

There’s a good reason why cybersecurity is ranked extremely high on the priority list of Trey White, CPA, and other controllers and chief accounting officers in the healthcare sector. According to a report from the Identity Theft Resource Center and CyberScout, 376 (34.4%) of the 1,093 data breach incidents reported in 2016 occurred in the […]

employee retention

Don’t Let Employee Retention Be a Casualty in the War for Talent

On the battlefield in the war for talent, there’s a mission that may be just as, if not more, critical for accounting and finance executives than recruiting a new crop of professionals: retaining the skilled employees they already have. I know, I know, you’re probably tired of seeing or hearing the term “war for talent.” […]

floqast partnership

Announcing Our Partnership with FloQast, the Startup Built by CPAs

Okay, some big news. Going Concern’s been at this for the better part of a decade, and one of our big goals for awhile now has been to produce more content for our readers who leave public accounting for industry. Which, let’s face it, most of you are going to do. You hear about us […]

ICYMI: Here Are Some Accounting Execs Talking About How Useless XBRL Is

The mandatory use of eXtensible Business Reporting Language by large public companies began in 2009 and was extended to smaller filers in 2011. And while it has made searching for SEC filings a breeze, it was the sincere hope of the SEC that XBRL would also be a serviceable tool for companies to do similarly […]

Today’s Groupon: A Chief Accounting Officer Courtesy of KPMG

Chronically accounting challenged coupon* carrier, Groupon, has found a new Chief Accounting Officer and they've followed the methodology most notably employed by PwC – poaching a KPMG partner: Groupon Inc said on Monday it appointed Brian Stevens chief accounting officer as the online daily deal company grapples with a string of accounting controversies. Stevens will step […]

Green Mountain Coffee Roasters Decides That It Might Be a Good Idea to Have Someone Oversee Their Accounting on a Daily Basis

As you may know, Green Mountain Coffee Roasters has had some issues with its financial reporting. So much so that, about a year ago, the SEC asked to poke around. Ever since then, they company has been a favorite of Sam Antar, who has written a slew of blog posts about their shoddy accounting. After a tough year of criticism, it appears the company seems to have found a solution to their double-entry woes – they didn’t have a Chief Accounting Officer!

Green Mountain Coffee Roasters, Inc. […], a leader in specialty coffee and coffee makers, today announced the appointment of Stephen L. Gibbs as its Vice President and Chief Accounting Officer effective immediately. This newly created position has been established to strengthen GMCR’s accounting function and overall financial control environment.

So everything should be on the straight and narrow now. I just hope Mr. Gibbs doesn’t mind being asked awkward questions.

UPDATE: The company is also looking for a Fraud Prevention Manager if you know anyone who is interested.

[via GMCR]

WFT Names New Chief Accounting Officer Who Will Hopefully Avoid Any More Giant Tax WTFs

Remember Weatherford International? That’s the oil services company that had a ton of material weakness around their tax accounting that led to $500 million error. This resulted in restatements, a humiliated CFO and the Chief Accounting Officer resigning “to pursue other opportunities.”


But now, four months later, everyone has moved on and the company has some new blood:

Weatherford International Ltd. […] announced today that John H. Briscoe has agreed to join the company as Vice President –Chief Accounting Officer. Mr. Briscoe will report to the company’s Chief Financial Officer.

Mr. Briscoe served as Vice President and Controller of Transocean Ltd. from October 2007 to present. He also fulfilled additional roles in internal audit, investor relations and field finance. Prior to joining Transocean in 2005, Mr. Briscoe served as Ferrellgas Inc.’s Vice President of Accounting and served in other senior roles during his eight years with the company. Mr. Briscoe also served as Controller for Latin America for Dresser Industries Inc. Mr. Briscoe started his career with seven years in public accounting beginning with the firm of KPMG and ending with Ernst & Young as an Audit Manager. Mr. Briscoe is a certified public accountant.

Yes, that Transocean.

SEC Still Cleaning Up Waste Management

Former Waste Management Chief Accounting Officer Bruce Snyder settled a civil injunctive action with the SEC today. The action relates to a little incident when Brucey “among other things, prepared, reviewed, and signed a materially false or misleading Form 10-Q,” back in ’99.

Perhaps this case was handled as efficiently as possible but taking twelve years to wrap this up might be enough to encourage Mary Schapiro to ask some other people to get better at their jobs (that means, lay off the porn). [SEC]