Thu.Jul 27, 2023

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Bed Bath & Beyond’s Etlin: lessons for CFOs staring down bankruptcy

CFO Dive

With the messy task of closing hundreds of Bed Bath & Beyond stores poised to be completed this month, the home-goods retailer’s Holly Etlin reflects on her role as a kind of “uber CFO.

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The Rice of Inflation

CFO News

Erratic rains are a major problem for India right now. Till this week of July, the cumulative rainfall in India is 5% above its long-term average. Currently, only 33% of all India districts have received normal rainfall. The Reserve Bank of India (RBI), which is two weeks away from announcing its monetary policy rates, will pay close attention to rice prices.

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Trending Sources

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Hertz interim CFO lands permanent gig

CFO Dive

Alexandra Brooks was promoted to the car rental company’s top finance post after being named interim CFO in March and serving as its chief accounting officer since 2020.

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NFRA's action against auditors, audit committees need to be more proactive in supporting audit quality

CFO News

In India, audit committees of companies are increasingly paying attention to the greater diligence needed. However, in many companies, the process followed continues to remain ad-hoc and at times lacks transparency. It is high time that they realize the criticality of their role in improving audit quality.

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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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When it comes to your tech stack, don’t compromise, Exasol CEO tells CFOs

CFO Dive

To prep for a data-driven future, CFOs need to balance value with long-term costs of new technologies, Exasol CEO Joerg Tewes advises.

More Trending

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10 Thursday AM Reads

Barry Ritholtz

My morning train reads: • Commercial Real Estate Is in Trouble, but Not for the Reason You Think : As far as weak spots go, there are reasons for concern. Offices comprise 80% of new delinquencies in commercial real estate loans, and occupancy rates in major cities consistently hover around 50% of capacity. But the towers we once commuted to comprise just a tiny fraction of the overall commercial real estate market.

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Kitces & Carl Ep 117: Sustaining A Profitable Advisory Business That Allows You To Explore New Endeavors

Nerd's Eye View

While many financial advisory firm owners have long-term goals that involve building a career based in a profitable and sustainable advisory firm, there are some firm owners who develop their firm as a means to explore and pursue other business endeavors. These firm owners may opt to take a backseat role in running the firm, yet must still entrust client relationships and firm management to their advisors and support team.

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CFOs most concerned with profitable growth, inflation and balance-sheet health in 2023: Gartner Survey

CFO News

Yet nine out of 10 CFOs plan to fund organic growth in 2023 at the same level or greater levels than 2022.

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Clips From Today’s Halftime Report

The Reformed Broker

Bernstein raises Apple’s price target to $195 from CNBC Watch CNBC’s investment committee discuss Meta’s earnings call from CNBC Threads is not the reason why Meta’s stock is up, Ritholtz’s Josh Brown from CNBC Final Trades: GM, Charter, Live Nation & more from CNBC

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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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U.S. chipmaker AMD to invest $400 million in India by 2028

CFO News

Advanced Micro Devices (AMD) plans to build its largest design centre in Bengaluru and invest around $400m in India over the next five years. The centre is expected to open by year-end and create 3,000 engineering jobs in India over five years. It will increase AMD's footprint in India from nine locations to ten, where the chipmaker already employs more than 6,500 people.

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SUPD: Elon Musk, AI, Bad Models & Housing

Barry Ritholtz

 Last week, in anticipation of the FOMC meeting, I hopped into the shed with Pete Dominick, and as always, we BS about everything, from inflation to the Federal Reserve, AI, bad models, and my hacked Twitter account. Favorite quote: “ At least the Ramora fish clean the parasites from the shark …” iTunes , YouTube , Patreon , Twitter , The post SUPD: Elon Musk, AI, Bad Models & Housing appeared first on The Big Picture.

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Proposed demerger of the hotel business will improve the financial return ratios of ITC Ltd, says ITC chairman

CFO News

ITC's demerger of its hotels business into a new entity will help improve the conglomerate's financial ratios through reinforced capital allocation, while still retaining institutional synergies between the hotels and fast moving consumer goods business, said chairman Sanjiv Puri.

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211: Meet Fawzia Suliman, the JSE’s Iron Lady

CFO Talks

Meet Fawzia Suliman, the JSE’s Iron Lady Fawzia Suliman is a glass ceiling-shattering CFO of the largest stock exchange on the continent and an Iron Man and Comrades running athlete in her spare time. Fawzia spoke to the CFO Club Podcast about how to build a more inclusive workplace and why SMEs are crucial. Written by: Leigh Schaller When Fawzia started in the financial services industry two decades ago, the demographics looked different.

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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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Small is the new big: Local FMCG brands ahead in race with giants

CFO News

Local Fast Moving Consumer Goods (FMCG) Brands in India are growing at a faster pace than large-scale brands across all categories with volumes rising to 28% in the moving annual total (MAT) of April 2023, according to a Kantar report. However, during inflation, local brands are unable to cope with pricing pressures and grow at a slower rate while national brands usually become consumers' "go-to" choice.

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The Last Mile to the CFO Office | CFO Chris Kramer of Axonius

CFO Thought Leader

CFO GUEST: Chris Kramer of Axonius 919: Adopting a Broader View | Chris Kramer, CFO, Axonius MADE POSSIBLE BY LEDGE | Ledge is a command center for payments built for finance teams operating at scale. Ledge empowers finance teams with tools to centralize their payments data, get a real-time payments snapshot, automate multi-way reconciliation, identify problem transactions, accelerate their investigations, and dramatically lower the risk of losses, all without any engineering support.

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On the table: A SWIFT system tailored to push rupee trade

CFO News

India is planning to establish its own international financing messaging system to assist with the government's goal of internationalising the Indian currency, according to insiders. An expert committee is exploring options and is aiming to issue findings by August. State Bank of India, Bank of Baroda and Central Bank of India are among the banks being consulted.

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The AI CFO: Understanding the impact of AI on the role of CFOs

CFO Share

As artificial intelligence (AI) continues to reshape industries, it will have a profound impact on the role of Chief Financial Officers (CFOs). The integration of AI in finance operations has already transformed the way CFOs analyze data, make decisions, and navigate complex financial landscapes. Read on to learn about the evolving AI landscape and explore the advantages, challenges, and future implications for CFOs, shedding light on how this powerful tool is revolutionizing the traditional res

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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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Tesla executives meet Invest India chief, may meet Piyush Goyal

CFO News

ET had learnt earlier that the stakeholder ministries — the ministry of commerce and industry as well as the ministry of electronics and information technology (MeitY) — have been discussing the electric carmaker’s plans to set up car and battery manufacturing facilities in India since Musk met Prime Minister Narendra Modi in the US last month.

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CFO: How a bank ups it game with digital transformation and see results

Future CFO

Editor’s note: Alex Macaire (pictured), Group CFO of Techcombank in Vietnam shared the bank’s ongoing digital transformation journey, its learning along the way, and the results it’s seen so far with FutureCFO and his peers. Macaire joined Techcombank from HSBC, where he worked for 15 years in senior leadership roles across investment banking, capital management, and finance.

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Will Mukesh Ambani help Larry Fink unleash a Mutual Funds genie?

CFO News

So far our fintech upstarts have by and large failed to convert the naysayers into believing that they will make enough money by selling somebody else’s financial products or cross sell their own offerings. Add-ons like insurance or asset management has typically been written off as side shows that are good to have but without significant scale, revenue potential or profit visibility.

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Large local companies ramp up search for CXOs amid macro woes

CFO News

Leading executive search firms including Korn Ferry India, Heidrick & Struggles, EMA Partners and Insist Consulting have seen a 25-30% increase in CEO/CXO mandates in the first four months of this fiscal year compared to a year ago across sectors such as industrial, manufacturing, commodities, engineering, financial services and healthcare.

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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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Voda Idea may get more time to pay Q1 licence & spectrum fees

CFO News

Vi has not made the full payment of levies for the past three quarters but has been clearing dues regularly on the extended timeline granted by the department. The company paid INR77 crore for the licence fee against INR770 crore due in the April-June quarter.

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Discretionary demand on the mend in June-July; cos see full recovery in second half of fiscal year

CFO News

Companies in India's discretionary consumption sectors, including electronics and retail, have reported a recovery in sales volumes since June on a year-on-year basis, which further improved in July. This could be attributed to eased inflation and a stronger manufacturing industry since April and May.

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ACC not to conduct independent probe into Hindenburg allegations

CFO News

The cement maker, India's oldest manufacturer of the commodity, said that based on the review of independent law firms hired by the Adani Group, and the pending outcome of regulatory investigations into the matter, ACC has decided to not carry out any separate independent probe.

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Zee Row: SAT modifies Jul 10 order, suggests appointing authorised person to hear the matter

CFO News

The securities appellate tribunal (SAT) on Thursday modified its earlier order (of July 10) and directed Sebi to appoint another whole-time member (WTM) for Punit Goenka and Subhash Chandra's hearing in the Zee case, reported ET NOW.

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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.