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Foot Locker Names New Chief Financial Officer

2 months ago

Foot Locker Inc.

hired an accounting executive from

Advance Auto Parts Inc.

to manage its finances as the specialty retailer’s current finance chief plans to retire.

Andrew Page

will join Foot Locker as chief financial officer on April 12, succeeding current CFO

Lauren Peters,

who has been in the role since 2011, the New York-based company said Thursday.

Mr. Page has served as chief accounting officer and controller at the Raleigh, N.C.-based auto parts retailer since 2019. Before joining Advance Auto Parts, he was the chief accounting officer at athletic wear company

Under Armour Inc.

Mr. Page will be stepping into his new role as Foot Locker continues to navigate the effects of the coronavirus pandemic. Foot Locker said last month that approximately 10% of its total store fleet is

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CFO Systems | Inside Business

4 months ago

CFO Systems CFO Systems has added Jim Harshman, John Lomoro, and Chris Whitlow to its nationwide team of 40-plus professionals focused on helping our clients grow. The CFO Systems team has extensive experience leading the accounting, finance, and human resources operations for organizations of all sizes. Each of the new team members will serve different sectors within the US middle market. Jim Harshman is an accounting and finance executive with over 30 years of experience leading the Accounting and Finance departments for privately held and publicly traded U.S. and international companies. Coupled with his extensive experience leading Information Technology and Human Resources departments, Jim has also developed, managed, and enhanced the financial performance of companies through financial analyses, strategic planning, process streamlining, expense reduction, and increased operational efficiencies. He holds CPA and CMA certificates. John Lomoro is a Certified Public Accountant with over 25 years of experience. He has

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Better Accounting Can Get Us Through the Pandemic

5 months ago

(Bloomberg Opinion) — The Covid-19 pandemic has revealed just how much governments matter — and that competent management can be the difference between life and death. Good leadership requires good information to support smart, timely decisions. Further, democracy itself relies on information that is understood and trusted by its citizens. High-quality accounting is a vital source of that information.

In the fight against the coronavirus pandemic, while most governments debate how much debt is sustainable and what fiscal measures should be used to measure it, countries like New Zealand are deploying the fiscal measures that make sense on the basis of a proven technology: accrual-based accounting. This method underpins financial decision-making and reporting in the private sector — and has contributed to the wealth many enjoy today.

Unfortunately, most government accounting relies on ancient methods. Charlemagne would recognize the system of cash-based accounting that almost all governments still use today.

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Yearn.finance report reveals two thirds of revenue comes from yUSD vault

5 months ago

The first informal Yearn.finance quarterly report has been released by the community and reveals the DeFi protocol’s revenue is dominated by the yUSD vault.

The report, spanning August 20 to October 20, was created by DeFi community members and has not been officially audited by any accounting firms. It states that net income for the three month period was $3.79 million with the majority of that coming from yVault product offerings.

The yUSD vault was responsible for the lion’s share of revenue with 68% of the total. The yETH vault introduced in September generated $545,000 for the period but it was soon suspended to mitigate risk and losses. That vault remains closed to depositors and is earning less than 1%, however Yearn will be relaunching it during the upcoming release of version 2 vaults.

The majority of the revenue from these vaults has been generated from the 0.3% withdrawal

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