Sun.Feb 12, 2023

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10 Sunday Reads

Barry Ritholtz

Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures: • Rudy Then and Rudy Now : None of his doofus mishaps endear him to his detractors. His toxicity levels are too high. When Giuliani was revealed as a mystery contestant on Fox’s The Masked Singer, one of the judges, Ken Jeong (Knocked Up, the Hangover movies), walked off the set in disgust.

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Why Using a Dashboard is an Accounting Game-Changer

https://trustedcfosolutions.com/feed/

Imagine a business as a train, chugging along to new horizons and greater things. For a successful and uninterrupted journey, trains need certain parts and routine maintenance to run smoothly. Businesses operate similarly, requiring a toolbox of strategic sales pitches, marketing efforts, and accurate financial analyses to continue on the right track.

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Trending Sources

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Aniket Sunil Talati takes over as ICAI President, Ranjeet Kumar Agarwal as VP

CFO News

Talati takes over Debashis Mitra as ICAI President.

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Set up dynamic update of data model structure

Spreadym

Life goes on and business is constantly moving forward. New clients come, new services appear, personnel are employed and tasks change. All these developments are displayed not only in documents, reports and final results of the company, they are subject to serious adjustments in installed business systems, like bi tools, financial analysis software, manufacturing planning software, resource planning software and others.

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Live Demo - Supercharge your Month End Close

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

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The all-encompassing Amrit Kaal Union Budget

CFO News

​The tax proposals of the Budget 2023 are generally seen as balanced, i.e., some steps towards stability and clarity, rationalisation measures and widening of the tax base. There are, however, some measures that can cause genuine hardships.

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Adani cuts growth target, capex in post-Hindenburg repair moves

CFO News

The group will now shoot for revenue growth of 15% to 20% for at least the next financial year, down from the 40% growth originally targeted, said the people, who didn’t want to be named as the discussions are private. Capital expenditure plans will also be scaled down, they said, as the group prioritizes bolstering its financial health over aggressive expansion.

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Championing an integrated mindset to drive sustainable value creation

Future CFO

Stathis Gould from IFAC discusses how integrating financial and sustainability information with an integrated mindset can encourage better-informed decisions that deliver long-term value creation—financial returns to investors while taking account of value to customers, employees, suppliers, and societal interests. The post Championing an integrated mindset to drive sustainable value creation appeared first on FutureCFO.

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RBI didn't make letter to govt on inflation public fearing market disruption, reports say

CFO News

The Reserve Bank of India did not make its letter to the Central government on retail inflation measures public as it feared it could lead to market disruptions and cause financial market volatility, the central bank said in response to an appeal under the Right to Information (RTI) Act, as per Mint.

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This week’s 30-year TIPS auction will be another milestone event

Tips Watch

Real yield to maturity could be the highest in 12 years. By David Enna, Tipswatch.com The Treasury on Thursday will offer $9 billion at auction for a new 30-year TIPS, CUSIP 912810TP3.

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Mid-Year Review: How to Ignite Employee Potential Through Meaningful Feedback

Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.

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Regulators fully cognisant of Adani Group matters: FM Sitharaman

CFO News

Adani Group stocks have lost ₹9.38 lakh crore in market capitalisation since January 24, when the Hindenburg Research report was released. The report accused the conglomerate of fraudulent transactions and share price manipulation. Adani Group has rejected the report's findings and said it complies with all laws and disclosure requirements.

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India Inc expects hiring growth this year despite global woes: Study

CFO News

In a study on business and hiring trends conducted exclusively for TOI by Executive Access, 44% respondents said global macroeconomic headwinds would continue to remain the most significant challenge in 2023-24. Hiring and retaining talent comes as the second biggest challenge, as seen by 32% respondents, ahead of technological disruptions (13%). At least 76% leaders see some growth in hiring this year.

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Tata Group set to record highest growth in history: Tata Sons chairman N Chandrasekaran

CFO News

The group is also making significant investments in its new growth businesses which include Air India, Tata Neu SuperApp, batteries, Tata Electronics and 5G. Tata Sons is currently evaluating the proposed venture into semiconductors.

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Luxury car companies line up for big Indian electric vehicle race

CFO News

Mercedes, BMW, Audi and Volvo are bullish on EVs even as they are priced higher than petrol and diesel vehicles, said the executives, adding that among other benefits buyers are enthused by a lower 5% goods and services tax (GST) on EVs and waiver of road registration tax in several states.

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Your Accounting Expertise Will Only Get You So Far: What Really Matters

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. If you’re aiming for the summit, the air gets thinner—and what got you here won’t be enough to get you to the top (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level.

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Vodafone Idea in talks to refinance Rs 3,000-4,000 crore of loans

CFO News

Vodafone Idea has a ₹9,600 crore debt repayment due in September 2023. That could further restrict the operator's capital expenditure ability, unless there is some refinancing of existing bank debt soon.

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Total’s decision to pause Adani hydrogen project to impact $6 billion debt funding

CFO News

French firm had agreed to guarantee 50% of H2 project debt over and above $4 b equity for 25% stake in Adani New Industries Ltd.

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Karnataka collected record GST of Rs 6,085 cr in January: CM Bommai

CFO News

"A record collection of 6,085 crore has been made under GST this month. Karnataka continues to be state with the highest growth rate of 30% in the GST tax collection," Bommai tweeted.

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Merger of seven subsidiaries with Tata Steel to be completed by FY24, says CEO Narendran

CFO News

Besides Angul Energy, the six subsidiaries to be merged with Tata Steel are Tata Steel Long Products (TSPL), The Tinplate Company of India, Tata Metaliks, TRF, Indian Steel & Wire Products, and Tata Steel Mining and S&T Mining Company.

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.

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Income Tax dept to come out with modified valuation norms for taxing foreign investments in unlisted companies

CFO News

The Finance Bill, 2023 has proposed amending Section 56(2)(viib) of the I-T Act, thereby bringing overseas investment in unlisted closely held companies, excepting DPIIT-recognised startups, under the tax net. The official said that amendments are needed as I-T Act and FEMA provide different methodologies for calculating the FMV of shares of unlisted companies.

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Navigating the crypto tax landscape: A global comparison

CFO News

Some countries have adopted favourable tax policies towards cryptocurrencies, while others have implemented strict regulations.

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NBFCs' collection efficiency close to pre-Covid levels: ICRA

CFO News

The delinquency levels are lower by 300 basis points (bps) from their peak levels during Covid-19, the rating agency said.

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Qualcomm-backed drone maker plans Rs750-cr IPO

CFO News

Investment banks JM Financial and IIFL are the lead managers for the IPO.

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Doing More With Less: The Modern Finance Miracle

Speaker: Mark Gilham, FCCA, CPP

Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.

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Expect ecommerce volumes to grow 15-20% in 2023: Delhivery CEO Sahil Barua

CFO News

While some e-tailers may go through ups and downs based on their respective funding situation, the broad arc of e-commerce remains positive, Barua said after an earnings call with analysts on Saturday.

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Kotak Mahindra Bank acquires microlender Sonata for Rs 537 cr in all cash deal

CFO News

The two-decade-old Sonata, a registered Non Bank Finance Company-Microfinance (NBFC-MFI), had Rs 1,903 crore of Assets Under Management (AUM) as of December 31, 2022.

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