Sun.Sep 01, 2024

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Treasury is ending paper I Bonds as a tax refund

Tips Watch

By David Enna, Tipswatch.com If you’ve been overpaying estimated taxes all through 2024 with the intention of purchasing paper U.S. Series I Savings Bonds in 2025 … it’s time for a new plan.

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A Day in the Life: Simon Kong from RGP

Future CFO

Editor's note: In today's A Day in the Life , Simon Kong (pictured), VP Consulting, RGP delves into what leadership means to him, how he applies what he has learned from being a Scout Leader, and his work day as a Hong Kong-based business leader who covers the Asia Pacific region. FutureCFO: What does a typical day look like for you? Simon Kong (SK): My work at RGP is essentially a people business.

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Trending Sources

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Apple CFO to Step Down

The Finance Weekly

Apple announced that its Chief Financial Officer (CFO) Luca Maestri will be stepping down starting January 1, 2025. But he is not departing from Apple permanently, instead, he will transition from his role as CFO to lead the Corporate Services team. This role encompasses information systems and technology, information security, and real estate. He will report directly to Tim Cook.

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GST Collection up by 10% at Rs 1.75 Lakh Crore in August

CFO News

The CGST collections rose to Rs 30,862 crore, while SGST collections increased to Rs 38,411 crore. IGST, which includes revenues from imports, surged to Rs 93,621 crore, and cess collections amounted to Rs 12,068 crore.

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4 Things Great Companies Do to Improve Cash Flow

Speaker: Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

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10 Sunday Reads

Barry Ritholtz

Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures: • Why Interest Rate Cuts Won’t Fix a Global Housing Affordability Crisis : Central bankers are lowering borrowing costs, but that won’t be a cure-all for a widespread lack of affordable housing. ( New York Times ) • Three Events That Speak to Greedflation : The Mars-Kellanova merger, the Kroger-Albertsons court case, and the monopolization lawsuit against RealPage all bolster her case against price-fixing.

More Trending

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Indian CEOs highest among executives suffering from imposter syndrome

CFO News

CEO imposter syndrome is on the rise in India, with 73% of CEOs feeling stretched beyond their abilities due to rising pressures from company promoters and boards, regulatory risks, and constant digital scrutiny. Despite this, 89% state they are competent in their roles and 84% feel fulfilled in their current jobs.

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SME IPOs see manic rise in retail interest

CFO News

What was seemingly a very shallow and restricted market of less than 500 interested parties for each share sale on average four years ago now draws applications that run into six figures. Statistics show from just 408 applicants on average in FY20 and 511 in FY21, these SME IPOs drew a staggering 2,19,000 applications so far in FY25.

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Large offshore investment write-offs trigger RBI alert

CFO News

The Reserve Bank of India is scrutinizing large write-offs of overseas investments by several companies, suspecting these might not be genuine business decisions. Concerns arise as some firms may have used the 'overseas direct investment' route to transfer funds abroad, bypassing regulations. The RBI is ensuring compliance with mandatory audit reports and valuation confirmations to validate the legitimacy of these investments.

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Dabur, Jubilant owners bid for stake in Coca-Cola's India bottling arm HCCB

CFO News

Parent Coca-Cola Co will decide if the deal will involve one or two co-investors, or if negotiations lead to creation of an investor consortium. A decision is likely by the end of this fiscal year. ET was first to report on June 18 that Coca-Cola had sounded out a group of Indian business houses and family offices of billionaire promoters to buy into HCCB, an arm it eventually wants to take public to cash in on the bullish domestic capital markets.

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The Financial Leader's Playbook: How To Deliver Insight, Oversight, And Foresight

Speaker: Chandra McCormack, CPA, MBA, NACD.DC

Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.

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Large offshore investment write-offs trigger RBI alert

CFO News

The Reserve Bank of India is scrutinizing large write-offs of overseas investments by several companies, suspecting these might not be genuine business decisions. Concerns arise as some firms may have used the 'overseas direct investment' route to transfer funds abroad, bypassing regulations. The RBI is ensuring compliance with mandatory audit reports and valuation confirmations to validate the legitimacy of these investments.

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HCLTech, Wipro see discretionary spends uptick in BFSI sector

CFO News

In a pleasant surprise for the industry, two of the top four Indian IT companies, HCLTech and Wipro, are ramping up discretionary spends in the banking, financial services, and insurance (BFSI) segment. Experts, anticipating a rate cut in September, are hoping the revival of discretionary spending will be widespread in the next two quarters.

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Crypto’s legal tangles seem as mystifying as digital asset itself

CFO News

Traders betting on crypto platform WazirX have learnt that they are “unsecured creditors” of a Singapore company named Zettai (the Japanese word for ‘no matter what’). Zettai is the parent of the Indian company Zenmai (also a Japanese word, meaning ‘mainspring’) which operates WazirX. What does this tangle mean?

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Labour ministry working on comprehensive policy to provide social security cover to gig workers: Mandaviya

CFO News

Labour and employment minister Mansukh Mandaviya chaired a review meeting with top officials of the ministry on Sunday to take stock on the progress towards the government’s vision of a universal social security for all as outlined in the Social Security Code. The ministry will set up an online window to help aggregators, companies that employ gig and platform workers, to take the lead in registering their workers on this eShram portal so that existing benefits can be made available to such work

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How Unify Turned Month-End Mayhem Into a Growth Party With Automation!

By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.

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Electronics parts set to plug into Make-in-India play: Union Electronics and IT minister Ashwini Vaishnaw

CFO News

The Centre plans to launch a scheme to develop a sustainable electronics component ecosystem. The initiative aims to expand component manufacturing in the same way as mobile and electronics manufacturing has grown. The scheme could see up to Rs 40,000 crore allocated, with an expected investment of Rs 82,000 crore from successful applicants.

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Tata Consumer Products completes merger of subsidiaries

CFO News

TCPL's portfolio of products includes tea, coffee, water, RTD, salt, pulses, spices, ready-to-cook and ready-to-eat offerings, breakfast cereals, snacks and mini meals. The company which has a consolidated turnover of Rs 15,206 crore owns key beverage brands including Tata Tea, Tetley, Organic India, Eight O'Clock Coffee, Tata Coffee Grand, Himalayan Natural Mineral Water, Tata Copper+ and Tata Gluco+.

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ICAI council to weigh proposed revamp of audit in sync with global standards

CFO News

The National Financial Reporting Authority (NFRA) has firmed up draft norms to overhaul the extant Standard on Auditing (SA) 600. The revised standard will apply only to listed companies and banks, barring the state-run ones. ET reported on Thursday that the ICAI had raised its concerns over the NFRA draft norm, which proposes to make the principal auditor of a corporate group responsible for the entire group's financial statements.

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Will GST Council give relief on life insurance premiums?

CFO News

The GST Council is expected to exempt term life insurance policies from the GST while continuing to apply the tax on insurance policies with an investment component.

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How to Select the Perfect Payments Partner: 7 Keys for Sustainable Growth

Speaker: Brad Pinneke, VP of Business Development at Payrix and Worldpay for Platforms

Join Brad Pinneke, Vice President of Business Development at Payrix and Worldpay for Platforms for an informational webinar about how to select the ideal payments provider for your platform! This session highlights the 7 key criteria for assessing payments partners and maximizing the value of your investment. From evaluating technology and business development programs to understanding support and compliance, this webinar will equip you with a comprehensive evaluation framework and strategy for

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Focus is on ramping up physical, digital and social infrastructure, says Ashwini Vaishnaw

CFO News

India's growth is driven by investments in physical, digital, and social infrastructure, said Ashwini Vaishnaw, union minister for electronics and information technology, information and broadcasting, and railways. He further added that the government focuses on manufacturing through incentives like the PLI schemes, which increased job creation and production value.

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A lift-off decade for India: How Modi plans to make country a global manufacturing powerhouse

CFO News

This growth has also changed lives for the better, a factor that is equally crucial. “The key to Bharat’s future lies in this transformation,” the PM said. “Over the past decade, 25 crore people have been lifted out of poverty. Not only have these individuals emerged from poverty, but they have also formed a neo-middle class. The speed and scale of this transformation are unprecedented in any democratic society worldwide.