Industry News

MobilePhone1

Accounting

Facebook’s earnings more than doubled in the fourth quarter, reflecting the tax benefit from a change in the way companies account for stock payments to employees. The social-media giant reported that net income rose to $3.57 billion, up from $1.56 billion a year ago, while full-year 2016 earnings were $10.22 billion, up from $3.69 billion. (CFO)

http://ww2.cfo.com/accounting-tax/2017/02/accounting-change-facebook/

Information System

Artificial intelligence advocates speak of a time to come when these systems will be capable of auditing 100% of a company’s financial transactions. These visionaries foresee the day when AI will enable auditing that is a continuous and real-time process, not a prolonged exercise requiring large teams of accountants working overtime after the close of a fiscal year. (CFO)

http://ww2.cfo.com/auditing/2017/02/artificial-intelligence-audits/

Supply Chain

Nearly two-thirds of companies with well-established advanced analytics strategies report operating margins and revenues of 15% or more, according to a report developed by Forbes Insights, in collaboration with EY Global. The report, Data & Advanced Analytics: High Stakes, High Rewards, revealed that among those organizations who have an analytics strategy that is well-established and central to the overall business strategy, rated their competitive ability in data and analytics as market-leading. (Supply Chain Management Review)

http://www.scmr.com/article/how_the_supply_chain_uses_benchmarking

Market Analysis

Digital advertising revenues in the United States have reached an all-time high in the first half of 2016 – $32.7 billion, according to the latest Interactive Advertising Bureau (IAB) Revenue Report. Prepared by PwC US, the report states that the digital revenue has increased 19 percent over last year’s record high of $27.5 billion. Revenue from the second quarter alone reached $16.9 billion, an 18 percent increase over the same period last year. Specifically looking at mobile, revenue climbed $15.5 billion, up 89 percent, representing the largest year-over-year change from 2015. In total, mobile represented 47 percent of total internet advertising revenue. (FierceCMO)

http://www.fiercecmo.com/industry-news/digital-advertising-revenue-hits-all-time-high-33b

Finance

The New York Stock Exchange is planning a practice sale of the much-anticipated Snap IPO hoping to avoid technical glitches ahead of the company’s long-awaited public debut. Snap, parent company of the popular photo-sharing app Snapchat, is expected to raise $3 billion when it prices. The massive deal would dwarf all of last year’s tech IPOs combined, according to research group and ETF provider Renaissance Capital. (CFO)

http://ww2.cfo.com/ipos/2017/02/nyse-hold-test-run-snap-ipo/