Compliance costs to surge, straining tight budgets: Accenture
CFO Dive
MAY 24, 2022
Many compliance executives lack the funding needed to contain an expanding range of risks, Accenture found in a survey.
Comparing Your Nonprofit Budget to Actual
The Charity CFO
MARCH 29, 2024
One of the best ways to get a quick read on your organization’s financial health is to compare your nonprofit budget to actual performance. A budget to actual analysis helps you look at your estimated revenue and expense versus what your organization actually saw. This helps improve donor confidence in your organization.
Nonprofit 
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Budget 2022: A thumbs-up for Digital India
CFO News Room
FEBRUARY 3, 2022
The Indian technology sector saw several major announcements in the Union Budget 2022, with a few misses in the startup segment. Budget 2022’s announcements on manufacturing, sustainability, electronics, digital currency, innovation and startups with technology as the cornerstone are expected to give a fillip to the tech industry.
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Union Budget 2024: GST changes not likely on legislative side, procedural changes inevitable, says tax expert
CFO News
JANUARY 30, 2024
As the Interim Budget 2024 nears, significant shifts in India's GST policies come to the forefront, particularly focusing on procedural changes.
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Budget 2022 focuses on futuristic growth: Vidit Aatrey, CEO, Meesho
CFO News Room
FEBRUARY 5, 2022
Resilience, inclusive growth, and technology-enabled development – the Budget 2022 by finance minister Nirmala Sitharaman aims to create an enabling framework to achieve these three benchmarks. While the Budget delivers on many fronts, achieving this completely would require a concentrated effort spanning multiple years and further reforms.
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Planning your budget: top 5 questions to ask budget owners to ensure accuracy
Cube Software
SEPTEMBER 11, 2023
The role of budget owners Budget owners are the creators and enforcers of fund allocation for their departments. They determine the priority of different expenses, ensure each transaction made fits the budget, and guarantee regulatory compliance.
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Companies to significantly reduce annual compliance training
Future CFO
MARCH 16, 2022
Companies are estimated to reduce annual compliance training by 50% by 2025, said Gartner recently. Many compliance leaders are dissatisfied with the effectiveness of their existing program activities,” said Chris Audet, senior director, research in the Gartner Legal, Risk & Compliance practice.
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Budget 2022 | Steering the economy — From India at 75 to India at 100: Sanjay Tolia, partner, Price Waterhouse & Co LLP
CFO News Room
FEBRUARY 5, 2022
Tthe Budget is a testimony to the fact that good voluntary tax compliance leads to better revenue collection and a stable tax regime. The FM entered Parliament to present her fourth Budget with a ‘Made in India’ tablet wrapped in a red pouch like a traditional bahi khata. By Sanjay Tolia.
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Budget Preparation Process: Full Step Guide
Spreadym
SEPTEMBER 12, 2023
Budget preparation is the process of creating a detailed financial plan that outlines an organization's expected income and expenses for a specific period, typically for a fiscal year. Here are the key steps involved in budget preparation: Define Objectives and Goals : Begin by establishing clear financial objectives and goals.
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POV: Why CFOs can’t ignore privacy and compliance in 2023
Future CFO
SEPTEMBER 16, 2022
What are the role of Chief Financial Officers (CFO) and senior finance leaders when it comes to data privacy and compliance? CFOs today need to have a strong understanding of technology-driven issues such as information security, data management, and data privacy and compliance.
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Budget 2024: India Inc CFOs call for strong compliance reforms
CFO News
JANUARY 30, 2024
As India anticipates the Union Budget 2024, CFOs urge impactful compliance reforms. Addressing GST, MSME, and labour laws, they seek changes in Budget 2024. Finance veterans envision infrastructure focus, while an economist stresses health, education, and rural empowerment for a sustainable five trillion economy.
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Operational and Compliance Considerations for 2022
Focus CFO
NOVEMBER 23, 2021
Operational and Compliance Considerations for 2022. Concluding our series for healthcare services companies, I highlight some operational and compliance considerations. How does your 2022 budget consider: Potential staffing shortages and rising labor inputs. By Brian Ford. Steps to Take Now Heading Into 2022 (Article 4 of 4).
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Budget provides buffer from global challenges: Parameswaran Iyer
CFO News
FEBRUARY 5, 2023
"With a continued focus on good governance, the budget aims to simplify systems with the help of initiatives such as Jan Vishwas Bill, which will enhance the reforms already taken under the Ease of Doing Business. More than 39,000 compliances have been removed and over 3,400 legal provisions decriminalised," Iyer said.
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Cost of financial crime compliance to hit US$ 50.1B in APAC
Future CFO
JUNE 16, 2022
The total cost of financial crime compliance is projected to hit close to the US$ 50.1 billion mark in 2022 in Asia Pacific, said LexisNexis recently when releasing its latest study on the cost of compliance. . Financial institutions represented more than 80% of the total cost of compliance in the region at US$ 40.8
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Budgets for Nonprofits: Get ready for 2023
The Charity CFO
NOVEMBER 17, 2022
Financial planning and budgeting are vital for the success and sustainability of any nonprofit organization. . That’s why it’s important to start thinking about your budget for 2023 now. Budgeting should go beyond simply tracking money in and money out. . Intro to Budgets for Nonprofits. Allocate resources.
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The 5 best budgeting software solution to increase efficiency of the business
Spreadym
MAY 26, 2023
Budgeting software is an application designed to assist businesses in creating, managing, and tracking their budgets. It helps automate and streamline the budgeting process by providing tools and features to input financial data, allocate funds to different categories, monitor expenses, and generate reports.
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FINRA Publishes 2021 Budget
Corporate Financial Weekly Digest
MAY 28, 2021
The Financial Industry Regulatory Authority (FINRA) has published its 2021 Annual Budget Summary (Budget Summary), which outlines how FINRA plans to deploy resources in 2021 to meet its various regulatory responsibilities. As described in the summary, the 2021 budget also includes $83.4 FINRA 2021 Annual Budget Summary.
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ASEAN finance teams face visibility challenges, prioritise T&E cost control
Future CFO
MAY 19, 2024
Travel and expense management (T&E) sits squarely in the crosshairs as companies grapple with balancing essential business travel against tight budgets. Click on the link to download your copy of the FutureCFO-SAP Concur study and learn your peers’ strategies to balance essential business travel against tight budgets.
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SA Budget Speech 2023: What can CFOs expect?
CFO Talks
FEBRUARY 10, 2023
By Jeff Ryan , MD of AWCape, a Platinum Sage business partner for HR, payroll and financial solutions South Africa’s Budget Speech for 2023 is an eagerly anticipated event for CFOs and financial leaders alike, as it provides insight into the government’s economic priorities and plans for the year ahead.
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Budget 2022-23: Income from cryptocurrencies, NFT trade to be taxed at 30%
CFO News Room
FEBRUARY 2, 2022
However, a 1% withholding tax would impact tax collections because compliance would curtail investments. The government is not treating this as a priority sector as it is proposed to be taxed at ordinary income marginal rate.
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Compliance Guide for finance leaders through and post-COVID-19
Future CFO
OCTOBER 18, 2020
TMF Group is a global provider of critical compliance and administrative services, with some 7,800 in-house experts across 80-plus jurisdictions. The CFO’s guide to compliant accounting and tax reporting during Covid-19 was compiled in response to rapidly changing financial compliance requirements across the globe.
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Aviation leasing watchdog cuts India's compliance rating amid Go First tussle
CFO News
SEPTEMBER 25, 2023
The move by the Aviation Working Group (AWG), a UK-based entity that monitors leasing and financing laws, comes as bankrupt budget carrier Go First is locked in a legal tussle with aircraft lessors seeking to repossess jets.
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ERP for Finance
Navigator SAP
JUNE 28, 2022
There are several ways companies can apply enterprise resource planning (ERP) tools that help streamline procurement, compliance, supply chain efficiency, and financial operations. ERP software links processes, allowing decision makers to plan, budget, forecast, and report on company activities with high accuracy.
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Budget 2023: DBS Bank India CFO says simplify TDS, GST compliances
CFO News
JANUARY 11, 2023
The government should cut TDS slabs to two-three to help all entities which collect TDS and reduce litigation.
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Cost and compliance. Two things you can still control
Future CFO
MAY 23, 2021
There’s always been a strain on budgets, but never like this. But no, control and compliance aren’t out of reach. DOWNLOAD NOW The post Cost and compliance. Moving business forward in an unpredictable market. Never before have i’s been so strategically dotted and t’s so carefully crossed. Think about it.
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How to Fix Your Nonprofit Accounting
The Charity CFO
MARCH 28, 2024
An effective accounting system helps you stay in compliance with tax and legal regulations–helping you maintain your exempt status. Focus on Budgeting and Financial Planning Like standardized financial policies, budgeting is an important aspect of your nonprofit accounting system.
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Maximizing Efficiency in Financial Management with SaaS Accounting Software
CFO Plans
MAY 16, 2024
In contrast, SaaS-based solutions operate on a subscription model, making them more budget-friendly. Explore Budget-Friendly Accounting Options Enhanced Collaboration with Cloud-Based Accounting Cloud-based accounting software excels at facilitating collaboration.
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Budget 2024: CDIT industry demands reduction in GST, expansion of PLI & infra development
CFO News
JANUARY 29, 2024
The industry also hopes for reduced taxes to alleviate financial burdens, and relaxation of compliance requirements to streamline operations.
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12 Best Paying Jobs in Finance in 2023
CFO News Room
DECEMBER 16, 2022
The CFO role is multi-faceted and includes everything from financial planning and analysis to business budgeting, financial decision-making, and risk management. Chief Compliance Officer. A chief compliance officer ensures financial institutions adhere to all applicable laws and regulations. Budget Analyst.
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AML Compliance Controls Can Be Costly
PYMNTS
OCTOBER 16, 2019
The Cost of Compliance. Scandal and fraud tarnishing banks’ reputations aside, the impact that AML compliance controls have had on these banks’ bottom lines can’t be underestimated. And yet, per that same study, 30 percent rate at least one of their AML components as being either “not at all” or only “somewhat” effective.
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Supply Chains Stumble Through GDPR Compliance
PYMNTS
AUGUST 23, 2018
The data security requirements have wide-reaching implications for businesses across sectors, but as companies expand globally and business partners connect on digital channels, supply chains’ GDPR compliance is an increasing focus of security and compliance initiatives in the enterprise.
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The Relationship Between a Fractional CFO and Your Public Accounting Firm
Beacon CFO Plus
NOVEMBER 30, 2023
Define Roles and Responsibilities: The CFO typically focuses on financial strategy, planning, and management, while the accounting firm handles compliance, audits, and financial reporting. Financial Strategy and Planning: The CFO plays a vital role in developing financial strategies, budgeting, forecasting, and financial planning.
How to maximize efficiency with nonprofit accounting software
The Charity CFO
APRIL 20, 2023
Budgeting: Tools for creating and managing multiple budgets for different funds or projects and budget to actual reporting. Grant tracking: From application to closeout, including the ability to create budgets for each grant, track grant expenditures, and generate reports that show the status of each grant.
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GDPR Compliance Yet To Gain Traction
PYMNTS
AUGUST 27, 2018
The initial verdicts of General Data Protection Regulation (GDPR) are in, at least in terms of compliance – or lack thereof. In news this past week, studies have shown that compliance rates are indeed low, three months in. are in compliance. How low are the rates? Isolated by a few countries, only 21 percent of firms in the U.K.
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How to Find the Best FP&A Candidates for Your Team
Spreadym
OCTOBER 3, 2023
Financial Planning and Analysis (FP&A) candidates are professionals who specialize in financial planning, budgeting, forecasting, and analysis within an organization. Variance Analysis: Understanding and explaining variances between budgeted and actual financial performance is a key component of the role.
7 Keys to Nonprofit Financial Management
The Charity CFO
APRIL 13, 2023
In order to successfully manage the financial health of your nonprofit organization, here are 7 key concepts you should understand: Compliance and Audit Requirements Compliance is the act of ensuring the public that nonprofits are abiding by the rules that allow them to take advantage of tax exempt status and other financial incentives.
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5 Ways to Mitigate the Accountant Shortage
CFO Leadership
APRIL 2, 2024
Key areas to consider implementing software to automate processes include billing and invoicing, budgeting and forecasting, accounts payable, accounts receivable, and close management. With the right technology in place, companies can lessen the accounting staffing needed, without sacrificing accuracy or compliance.
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5 Challenges Nonprofits Face in 2024
The Charity CFO
APRIL 18, 2024
These challenges include financial issues, data security compliance, and talent retention problems. Review your nonprofit budget and cash flow data to find areas for improvement. Compliance with Evolving Regulations Nonprofits are no strangers to regulatory and compliance issues. 2024 will be no different.
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CFOs' guide to business travel cost management
Future CFO
JANUARY 16, 2024
Adaptable policies are a must These systems are increasingly being integrated with corporate travel policies, ensuring compliance and helping to prevent unauthorised spending. CFOs are also turning their gaze inwards, focusing on employee education and policy compliance.
FP&A Software OnPlan Reportedly Shutting Down After 7 Years of Business
The Finance Weekly
OCTOBER 12, 2023
Many of its customers will now be looking for a new financial planning solution that will cover their automation, budgeting, and reporting needs. Its complete budgeting and forecasting solution along with its new AI chatbot and , automated visual features helps save finance teams lots of time every month.
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Tips for cash management for a nonprofit organization
The Charity CFO
MAY 19, 2023
In a previous article, we discussed the benefits, risks, and compliance requirements of outsourcing bookkeeping for nonprofit organizations. Not only does it fulfill compliance requirements, but it also plays a crucial role in achieving the organization’s mission.
Make HR your BFF for Financial Workforce Planning
Generation CFO
DECEMBER 20, 2021
As times progressed, and Excel models became more popular and complex, there was a tendency for many to move to a named individual level budget – but only if HR would release this information! . We also saw connectivity with other parts of the budget that helped drive more detailed and accurate calculations.
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Payroll Accounting: Driving Success Through the Power of Your People
https://trustedcfosolutions.com/feed/
MARCH 8, 2023
However, when managed strategically and by understanding how your payroll affects the budget, you’ll streamline processes and maximize returns. Job Costing Solutions — Accurate job costing solutions can ensure that you stay on budget and remain profitable, so you know where and how to cut costs when needed.
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When to use FP&A software for nonprofits
Centage
NOVEMBER 8, 2023
Building and maintaining an effective budget is daunting no matter what industry you’re in — but financial planning for nonprofits is especially tough. Here are three key benefits of adopting nonprofit budgeting and forecasting software. Simply adding an account can cause the plan and budget to fall apart. No programming.
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