Fri.Jul 14, 2023

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Finance function budgets jump 7.5%: study

CFO Dive

The majoriy of finance departments studied were about as efficient as a “monster truck,” a Hackett Group researcher said. There are steps companies can take to make them run more like Priuses.

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The Benefits of Real-time Reporting and Data Analytics for Professional Services

Navigator SAP

Most professional services organizations have completed digital transformation, which is the trendy way of saying that they’ve moved operations to the cloud. Now that most of these businesses are in the cloud, though, the next evolution has arrived: using the advantages of digital transformation to actually drive intelligent decision-making. Forget digital transformation.

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Trending Sources

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Healthcare bankruptcies jump as crypto ‘calms down’

CFO Dive

Labor costs and a fall-off in government aid are factors cited behind healthcare industry distress. Meanwhile, bankruptcy experts said a commercial real estate “bubble” looms.

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Quarterly Pattern of Earnings Have Returned to Normal

Barry Ritholtz

Jim Reid of Deutsche Bank notes the pattern of gradual downgrades before earnings season begins is back to normal. As the rest of the quarterly earnings roll out, we should expect earnings to improve as we roll deeper into earnings season and as “later estimate beats” come in. This quarterly earnings pattern is shown above in the chart from his colleague Binky Chadha.

Banking 98
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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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Authentic Brands taps Tapestry, Saks alum as CFO

CFO Dive

Kevin Wills is taking the New York City-based company’s CFO seat as the firm is once again contemplating going public. It shelved previous IPO plans in 2021.

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More Trending

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10 Friday AM Reads

Barry Ritholtz

My end-of-week morning offsite reads: • Google’s AI Blunders Rival Xerox’s PC Mistakes : The “T” technology behind ChatGPT was devised at Google but languished there. Sound familiar? ( Bloomberg ) • Wall Street’s Recession Warning Is Flashing. Some Wonder if It’s Wrong. The yield curve has been suggesting since last year that the economy was headed for a slump. ( New York Times ) see also Dude, Where’s My Recession?

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Weekend Reading For Financial Planners (July 15-16)

Nerd's Eye View

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that while the new social media app Threads, designed to compete with Twitter, has surpassed 100 million users in its first week alone, its potential utility for advisors remains unclear and has raised compliance concerns for advisors whose social media archiving tools do not yet cover the new app.

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Online gaming companies seek more clarity on GST

CFO News

Gaming companies are learnt to be discussing the course of action and deciding on the key clarifications they need from the government before approaching the finance ministry. Companies had been expecting the tax to be levied on the gross gaming revenue (GGR), the platform fee that they charge for facilitating the games.

Finance 52
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Michael Cembalest Takes Us to School

The Reformed Broker

Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Michael Cembalest, and Downtown Josh Brown discuss the economy, AI stocks, the worst experiment in capital markets, the biggest risks to the market, the 2024 election, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!

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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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India reimposes windfall tax on petroleum crude after two months

CFO News

Today's revision in windfall tax on domestic crude comes on the back of rising global oil prices. India had cut the windfall tax on petroleum crude to zero from Rs 4,100 per tonne, in May.

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Types of Financial Models for Greater Business Development

Spreadym

Financial models are mathematical representations or frameworks used to analyze the financial performance and make predictions about the future financial outcomes of a business, project, or investment. These models are built based on a set of assumptions and inputs, which are then processed through various formulas and calculations to generate meaningful outputs.

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Tata Group in advanced stages to acquire Wistron's Karnataka plant

CFO News

Tata Group is in talks to buy Wistron's Karnataka manufacturing unit, which produces components for Apple products. The deal, conducted through subsidiary Tata Electronics, is expected to lead to the Indian conglomerate being the first company in India to assemble iPhones. Although the Indian smartphone market is growing, Apple and other suppliers have been enticed to expand there by government policy.

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Everything You Need to Know about AI for FP&A

Lime Light

AI! Doesn’t it feel like those two letters are on the tip of everyone’s tongues these days? AI for FP&A specifically holds a lot of promise. but it’s important to differentiate between what it can do today, and what it will be able to do tomorrow.

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Planning Your Restaurant's Path to Profitability

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

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Centre extends application date for 2nd phase of PLI scheme for IT hardware

CFO News

In May, the Centre had notified the second phase of the production-linked incentive (PLI) scheme for IT hardware with a budgetary outlay of Rs 17,000 crore, more than doubling the incentives in the initial version of the plan, aimed at attracting global companies like Dell, HP, Apple, and Samsung to manufacture in India.

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$6.2B accounting flub at Pentagon draws GOP fire

CFO Dive

Republicans criticized the Pentagon in the run-up to House passage on Friday of the $866 billion National Defense Authorization Act for fiscal year 2024.

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India's inflation during Q1 suggests limited risk of a further rate hike, says Bandhan Bank MD

CFO News

Bandhan Bank's MD, Chandra Shekhar Ghosh, has said India is unlikely to hike interest rates due to the limited risks of a further ATM hike revealed by India's first quarter inflation numbers. The bank has suffered since its IPO last year as it has underperformed compared to its peers due to issues such as lower-than-average growth and asset quality.

Banking 52
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Women's workforce representation surges to nearly 50%: Report

CFO News

The DivHERsity Benchmarking Report 2022-2023 by HerKey (formerly JobsForHer) shows data on women's representation and diversity in corporate India. In its fifth edition, the report provides a compilation of data collected from over 300 companies across India between January 2022 and January 2023.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

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India taking tougher road to ESG reporting: KPMG global audit head

CFO News

India's environmental, social, and governance (ESG) disclosure norms are more rigorous than global standards, says KPMG's global head of audit. India's top 150 listed companies must provide "reasonable assurance" on their ESG performance from this financial year, with their auditors to trace disclosures to confirm accuracy. Bradley stated that, unlike other regulators, India adopted this approach with a "higher level of assurance on a limited set of metrics", including greenhouse

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When biz meets sci-fi: Chandrayaan-3 is India's ticket to the Moon economy

CFO News

The successful landing of Chandrayaan-3 lander Vikram on the Moon will not only put India in an elite club of countries to have achieved this feat but also position it to gain from the emerging multi-billion dollar moon economy. This sector involves human presence on the Moon, commercialisation of lunar data, and the exploitation of lunar resources for in-situ resource utilisation.

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India's trade deficit narrows to $20.13 bn in June

CFO News

India's merchandise trade deficit in June narrowed to $20.13 billion from $22.12 billion in May, according to a Reuters calculation based on export and import data released by the government on Friday.

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BYD seeks nod for $1 billion plan to build EVs, batteries in India

CFO News

BYD and privately held Hyderabad-based Megha Engineering and Infrastructures have submitted a proposal to Indian regulators to form an EV joint venture, the people said, asking not to be named because the application is private. The longer-term plan is to build a full line-up of BYD-brand EVs in India from hatchbacks to luxury models, one of the three people said.

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Accounting Software and ERP Readiness Guide

In this white paper, we explore the factors to consider in deciding whether the time is right for your Company to consider a new ERP or accounting software, the total cost of ownership and plans necessary to make the potential leap to these systems.

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Karnataka govt to hand over 300-acre plot to Foxconn for iPhone facility soon

CFO News

Foxconn: The Taiwanese tech giant has proposed to commission an assembly unit for Apple’s iPhones near Bengaluru’s international airport by April next year.

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NYSE suspends trading in Azure Global, delisting process to begin

CFO News

On July 13, Azure Power Global had informed the stock exchange that it would not be able to complete its filings by August 16, the maximum time allowed by the bourse.

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Binance lays off over 1,000 employees

CFO News

Crypto giant Binance has laid off over 1,000 people in recent weeks in a continuing exercise that could result in the exchange losing more than a third of its staff

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PhonePe Esop buyback: Flipkart makes $700 million payout to employees

CFO News

More than 24,000 individuals, including former Flipkart and Myntra employees, are eligible for payments from the buyback.

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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.