PhI(OCOCF3)(2) (PIFA) in the presence of trifluoroacetic acid (TFA) in CH2Cl2 efficiently promotes the oxidative cycloisomerization of 2-propargyl 1,3-dicarbonyl compounds to give 4,5-disubstituted furfuryl alcohols. PIFA in hexafluoroisopropanol (HFIP) or PIFA-BF3 center dot OEt\(2) in CH2Cl2 bring about the direct formation of furfurals from 2-propargyl 1,3-dicarbonyl compounds. In a few cases, PhI=O is suitable for the direct formation of furfurals. (C) 2011 Elsevier Ltd. All rights reserved.