Sun.Mar 26, 2023

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Adani Group, Reliance Industries pull out of race to acquire SKS Power Generation

CFO News

Nagpur-based Sarda Energy & Minerals, Delhi-based Jindal Power, public-sector utility NTPC, Gujarat-based Torrent Power, and Singapore-based Vantage Point Asset Management have submitted revised bids to take over SKS under the corporate insolvency resolution process.

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Take Control of the Month-End Close: A Checklist for Success

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As a business owner, the end of the month can feel like a whirlwind: hectic, chaotic, and overwhelming. But by following a structured checklist and diligently staying on top of your core financials , you’ll alleviate some of your stress and keep your business on solid financial footing. If you’re ready to conquer the end-of-month chaos, follow along in this blog series as we dive into the ins and outs of the month-end close. 10 Comprehensive Steps for Your Month-End Close Checklist Here we have

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Exchanging Your Money into Bitcoin (BTC)

Financial Analyst Insider

This is not financial advice. Nowadays, these electronic payment systems simplify the operation, because thanks to the service, anyone can pay an invoice via the The post Exchanging Your Money into Bitcoin (BTC) appeared first on Financial Analyst Insider.

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Housing sales likely to rise 14% in January-March: Anarock

CFO News

Real estate consultant Anarock, which tracks the primary (fresh sales) residential market, said the "bull run" continued in the housing segment of Indian realty sector despite rise in interest rates on home loans, leading to highest quarterly sales in the last one decade.

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Master Your Expenses: The Ultimate Corporate Card Checklist

Choosing the right corporate card program is key to managing employee spending effectively. This checklist highlights important factors to consider, like ease of administration, card acceptance, real-time data, and software integration. It also details features like customizable policy controls, dynamic approvals, and robust analytics to help optimize expense management.

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Security budgets rise more than in 2022 despite economic headwinds

Future CFO

Security budgets are forecast to net increase by 29% in 2023 compared to a year ago, after a 26% rise in 2022, said S&P Global Market Intelligence recently when releasing the report of the Voice of the Enterprise: Information Security, Budgets & Outlook 2023 study. The natural assumption during or even anticipating some form of market correction is that costs will be reined in or constrained including technology expenditures, said Daniel Kennedy, Principal Analyst at S&P Global Marke

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Is your people strategy human enough?

Future CFO

The EY Center for Board Matters points to the imperative for organisations to re-establish a social contract with their employees and the role of the board in doing so. Topics covered: Boards, social contract, employees, culture, talent, purpose, DEI, gender, trust, CHRO, pay, compensation, workforce, millennial, Gen-Z, governance, inclusion, upskill, sustainability, ESG, employer, flexibility.

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Electric vehicle makers on a hiring overdrive to meet rising demand

CFO News

Companies like Hero Electric, MG Motor, Simple Energy and Yulu Bikes are looking to hire employees for specialised profiles, such as EV technicians, battery recycling experts, software developers, as well as for manufacturing and engineering. On the agenda is not just hiring laterally, but also building up fresh talent through partnerships with educational institutions.

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Finance Companies Bringing Humor to FP&A Software Advertising

The Finance Weekly

Who said there can’t be any humor in finance? Recently, FP&A companies have been getting creative with their humorous ads. Finance is a field that is traditionally known as stable and maybe even boring. In fact, there is a whole genre of , accountant jokes , mostly poking fun at the mundane and manual work that they do. Here’s one example: (warning: no one said it will make you laugh) Why do some accountants decide to become actuaries?

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First Citizens in advanced talks to buy Silicon Valley Bank: Source

CFO News

First Citizens could reach a deal as soon as Sunday to acquire Silicon Valley Bank from the Federal Deposit Insurance Corp (FDIC), according to Bloomberg News, which first reported the development.

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Live Demo: How to Achieve Reconciliation Zen

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

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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10 Sunday Reads

Barry Ritholtz

Note: Off to Arizona for a conference; no Morning Reads for the next day or two… Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures: • Army of lobbyists helped water down banking regulations : That unlikely coalition voted in 2018 to roll back portions of a far-reaching 2010 law intended to prevent a future financial crisis.

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Sun Pharma eyes revenue hit due to ransomware attack

CFO News

A ransomware group has claimed responsibility for an 'IT security incident' at Sun Pharma whose effect included breach of certain file systems and the theft of certain company data and personal data, the drugmaker said in a stock exchange filing.

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First Citizens Bank to acquire SVB's deposits, loans from FDIC

CFO News

​The depositors of Silicon Valley Bridge Bank, National Association, will automatically become depositors of First–Citizens Bank & Trust Company. "All deposits assumed by First–Citizens Bank & Trust Company will continue to be insured by the FDIC up to the insurance limit," the government corporation said in a press release on Monday.

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Shrinking current account gap provides a reprieve for rupee

CFO News

Barclays expects the improving external sector fundamentals and relatively cheap valuations to help the rupee rally later as the dollar weakens. But most remain cautious amid global volatility and the Reserve Bank of India’s aim to build back reserves at every opportunity.

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New DOL Final Overtime Rules: Quickstart Guide for Employers

There’s a new overtime salary threshold that will impact employers across the country. If you have an employee making less than $43,888 on July 1 or less than $58,656 on January 1, you’re going to have to start paying overtime. Download Paycor’s guide to learn: Which groups of employees are affected? How should you classify employees? Best ways to mitigate risk.

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Mamaearth's parent puts IPO on hold: Report

CFO News

Mamaearth parent Honasa Consumer Ltd filed its documents for an IPO in December, planning to raise about $200 million to $300 million, through the issuing of new equity and an offer for sale of some existing shares, which could have valued the company at up to $3 billion.

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Public sector banks to submit plan to deal with key business risks

CFO News

Public sector banks (PSBs) assured finance minister Nirmala Sitharaman at a review meeting on Saturday that the Indian banking system remains robust and there is no cause for worry.

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RBI may go in for 25 basis point interest rate hike in monetary policy meet next month, say experts

CFO News

The Monetary Policy Committee (MPC) of the Reserve Bank will be meeting for three days on April 3, 5 and 6 to take into account various domestic and global factors before coming out with the first bi-monthly monetary policy for fiscal 2023-24.

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RCAP resolution plan hits roadblock as bidders upset over another auction plan

CFO News

The plan of debt-ridden Reliance Capital's lenders to conduct a second round of auction has hit a roadblock, as bidders are apparently not inclined to another round under the insolvency resolution process. The apex court has listed the matter regarding the second auction for a hearing in the month of August.

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Thinking About How To Lessen Your Burden During Month-End Close? Skystem Can Help!

Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.

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PVR, Inox merger was the only way to strengthen balance sheet: MD Ajay Bijli

CFO News

A key priority for PVR-Inox is improving margins through better capital and operating expenses, says MD Ajay Bijli. In an interview with Vinod Mahanta and Javed Farooqui, Bijli talks about the contours of the deal to merge the two firms that has created the world's fifth-largest multiplex chain, and the way ahead.

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Lexus India looks to expand customer base to de-risk business; expand sales infra

CFO News

Lexus is targeting professionals, such as doctors, architects, lawyers, and pilots, to expand its customer base in India and mitigate risks. The luxury carmaker aims to offer them the opportunity to experience its products by introducing subscription and leasing models. Currently, the majority of its sales come from businesspeople. The Japanese firm is looking to consolidate its six-year position in India by adding 25 to 30 outlets this year.

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Wary IT companies may halve hiring of engineers from April: Experts

CFO News

Staffing firm TeamLease expects a 40% drop in FY24 headcount addition vis a vis FY23 addition, based on the current outlook from companies.

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Unveiling India’s focus on start-ups during G-20 Presidency

CFO News

India is leading the way in terms of technology export, where Indian software services export increased to 88.8 percent in FY21.

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Your Guide to Creating a Travel Policy

Navigating travel expenses can be challenging, but our workbook offers a clear path forward. Learn to craft a travel policy that fits your budget and makes travel management simple. This self-guided workbook offers: Practical advice on choosing airlines, setting booking time frames, and managing travel costs effectively. Insights into selecting the right class of service for each employee, ensuring everyone travels comfortably and within policy.

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Govt caps maximum GST cess rate on pan masala, tobacco; links rate to retail sale price

CFO News

The cess is levied over and above the highest Goods and Services Tax (GST) rate of 28 per cent.

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