March 25 - Ideal agenda for a CFO's first 90 days | SEC OKs 2021 FASB reporting taxonomies
March 25, 2021
Federal watchdog warns of potential crisis in post-pandemic U.S. fiscal health; SEC accepts FASB's 2021 reporting taxonomies; MicroStrategy CEO: Treasurers should buy Bitcoin as cash alternative to hedge inflation; No plans on crypto, ESG, but that could change, FASB chair says
Best-in-class finance functions’ total costs are consistently in the range of 0.3% to 1.0% of sales, a benchmark for CFOs as they compare their finance function with that of peers on the basis of head count and costs.
The Government Accountability Office said U.S. debt, pushed up by $6 trillion in pandemic rescue spending, will hit a record high in 2028, increasing the odds of fiscal crisis.
The updated taxonomies, which use the Extensible Business Reporting Language (XBRL) data-tagging format, include changes to accounting standards and SEC rules companies are encouraged to use in this year's reporting.
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