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Las Vegas sphere reports $98 Million loss, CFO quits::Dummy content
Early operations losses are normal and not a cause for immediate concern, the CFO quitting after a yelling match with the CEO is though.
If this went anything like the yelling matches I hear in local companies between CFOs or even CPAs vs the CEOs, it likely boils down to the CEO being ingorant of the finer details of financial law and reporting practices and insisting that the CFO or CPA do something that’s either against best practice, or flat out inappropriate or borderline illegal.
The CFO I know personally gets yelled at consistently for doing things that are the reason outside financers still work with the company. They’re also the sole reason the IRS isn’t levying hell against the buisness and the owners wife grovels to them to assure that at least she knows how important the work is.
The takeawy is CEOs are pretty dumb and hate being told no, and I’d honestly be surprised if the reality of the situation is much different from the one I described.
I wish I was dumb enough to be a CEO so I could have enough money to do extravagant things like pay off student loans, fix my house, fix my car, get adequate healthcare, retire one day, etc.
Early operations losses are normal and not a cause for immediate concern, the CFO quitting after a yelling match with the CEO is though.
If this went anything like the yelling matches I hear in local companies between CFOs or even CPAs vs the CEOs, it likely boils down to the CEO being ingorant of the finer details of financial law and reporting practices and insisting that the CFO or CPA do something that’s either against best practice, or flat out inappropriate or borderline illegal.
The CFO I know personally gets yelled at consistently for doing things that are the reason outside financers still work with the company. They’re also the sole reason the IRS isn’t levying hell against the buisness and the owners wife grovels to them to assure that at least she knows how important the work is.
The takeawy is CEOs are pretty dumb and hate being told no, and I’d honestly be surprised if the reality of the situation is much different from the one I described.
I wish I was dumb enough to be a CEO so I could have enough money to do extravagant things like pay off student loans, fix my house, fix my car, get adequate healthcare, retire one day, etc.
Being dumb is necessary but not sufficient: you must also be born in a wealthy family and made networking among your peers in some exclusive school.
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