Wed.Mar 15, 2023

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More Realistic Retirement Income Projections Require Dynamic Adjustments

CFA Institute

How can we incorporate dynamic spending into retirement income projections?

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FASB kicks off comment period on income-tax updates

CFO Dive

While previous FASB efforts to update accounting standards for taxes have fizzled, Chair Richard Jones has said tweaks to the project’s scope have made it achievable.

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Trending Sources

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10 Wednesday AM Reads

Barry Ritholtz

Programming note: Morning Reads will be in Dallas Thursday and Friday — we will be back on the weekend… My mid-week morning train reads: • Dissecting Goldman’s gory $2.25bn SVB equity issue Well that escalated quickly. ( Financial Times ) • Whose Fault is it Anyway : It has been 872 days since a bank failed in the United States. This was the longest streak on record.

Banking 117
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SEC fines IT firm DXC $8M for ‘misleading’ disclosures

CFO Dive

DXC lacked adequate controls for the review, approval and classification of costs, according to the SEC.

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Planning Your Restaurants 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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NBFC body writes to FinMin on new provisions of Income Tax Act

CFO News

FIDC has primarily highlighted two demands to the Finance Minister. Firstly, they seek removal of exemption from TDS on payment of interest on listed debentures to a resident and requested to restore status quo. Secondly, to amend Section 194LD and Section 194LC of the Income Tax Act seeking removal of the ambiguity.

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More Trending

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Credit Suisse erupts into full-blown crisis as rivals back away

CFO News

At least one bank, BNP Paribas SA, went a step further and informed clients it will no longer accept requests to take over their derivatives contracts when Credit Suisse is the counterparty, according to people familiar with the matter. This adds to the steps that many banks in the US had been taking over the course of months to slowly reduce their exposure to the lender.

Banking 98
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Cyber Threats To Client Wealth And Well-Being: Why And How Wealth Managers Will Soon Play A Key Role In Managing These Risks

Nerd's Eye View

Risk management is a key part of many financial advisors’ value propositions. For instance, ensuring clients maintain the proper insurance coverage based on their needs is an important part of the financial planning process. At the same time, clients face another class of risks that advisors often do not consider: cyber. In this article, guest authors Mark Hurley, Carmin Cicalese, Bryce Washum, and Douglas Garbutt discuss how financial advisory clients face a range of cyber risks, includin

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A four-member GST appellate tribunal likely in each state to streamline dispute resolution

CFO News

A four-member appellate tribunal is likely to be set up in each state in order to streamline and expedite the dispute resolution process with regard to Goods and Services Tax (GST), reported PTI citing official. Each state appellate tribunal would have two technical members (one officer each from the centre and states) and two judicial members.

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Discussing Bank Contagion with Pete Dominick

Barry Ritholtz

I spent some time with my buddy Pete Dominick on Monday talking about all of the things we don’t know about SVB. As always, its a fun conversation — I pop in at the 19 minute mark. The post Discussing Bank Contagion with Pete Dominick appeared first on The Big Picture.

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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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Technology for database processing

Spreadym

Corporate data processing refers to the use of technology to collect, store, manipulate, and analyze large amounts of business data in a corporate setting. Here are some of the key techniques used in corporate data processing: Data Collection: The first step in corporate data processing is the collection of data from various sources such as internal databases in Excel spreadsheets, sites with such data as exchange rates, interest rates and so on, and third-party business software.

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Welcome Mark Cross

Focus CFO

We are pleased to announce that Mark Cross has joined the FocusCFO team as an Area President, bringing our Fractional CFO services to businesses in Central Virginia and Virginia Beach. Mark supports and guides corporate boards, senior leaders, and leadership teams to transform their businesses, drive significant change, and accelerate positive results.

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Talent attraction and retention: Businesses need to embed sustainability 

Future CFO

When it comes to talent attraction and retention, organisations’ commitment to sustainability and positive societal change becomes key, said Alistair Cox, CEO of Hays recently. As awareness of climate change and the need for action increases, more and more employees want to work for businesses with meaningful sustainability goals, Cox noted. The CEO outlines steps for business leaders to embed sustainability into their organisations.

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India to take lead in building digital infra, say Nokia and Ericsson chiefs

CFO News

Nokia Corporation president and chief executive, Pekka Lundmark said that India is now the second largest market for the global telecom equipment maker and that it is now exporting 5G base stations from the country.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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3 aspirations to achieve transformational sales growth

Jedox Finance

Sales performance management continues to gain traction across organizations of all shapes and sizes all over the world. As they become larger, more complex, more diverse, and increasingly global, sales organizations must aspire to scalability, predictability, and transparency to achieve transformational sales growth amid strengthening economic headwinds. 1 Sales performance management provides a consistent, global, and automated structure with a common view of data on a shared platform – creati

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EY, KPMG back-offices issue advisories on return to work, indicating hybrid model

CFO News

EY Global Delivery Services (EY GDS) and KPMG Global Services (KGS) employ around 50,000 people between them in India, providing services to the member firms of their parents, EY and KPMG, globally.

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The good news

The Reformed Broker

Apparently it’s news to the whole world this morning that Credit Suisse is some sort of undead Swiss zombie bank worth more dissected and sold off in chunks than alive. Who knew? Oh wait – everyone knew, for a long time now. Open secret. Single digit stock price. Come on. I meet financial advisors at industry events and cocktail parties – I wince when they say they work at Credit Suisse.

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Crypto under PMLA ambit to act as fraud deterrent, step towards regularisation: Experts

CFO News

The Finance Ministry, last week, notified to bring all virtual digital assets, including cryptocurrencies under the PMLA ambit. Crypto company heads believe that the decision to bring cryptocurrency and VDAs under PMLA is a good, positive and long-overdue step towards regulating and recognising the sector.

Finance 52
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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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Government may ease data submission norms in PLI plan for auto companies

CFO News

Automakers will be able to avail the benefits by submitting sourcing and pricing details of all the parts used in the vehicles from their tier-1 or direct suppliers, instead of providing information up to tier-3 suppliers or subcontractors as the government planned initially, people aware of the matter said.

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SBI files insolvency plea against simplex

CFO News

Bankers are not too enthusiastic about the recovery chances from the account. "EPC companies such as these typically have a lot of pending receivables from the government, which invariably have some counterclaims. So recoveries are very difficult as these companies have very little assets that can be monetised," said a second person aware of the company's position.

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IT hardware companies flag PLI’s investment amid unused slack capacities

CFO News

The firms reasoned that most manufacturers have slack capacities that first need to be used up before committing to expansion at a time when global PC and tablet sales have been steadily declining.

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Credit Suisse to borrow up to $54 billion from Swiss National Bank

CFO News

The move came after Swiss regulators pledged a liquidity lifeline to Credit Suisse in an unprecedented move by a central bank after the flagship Swiss lender's shares fell by as much as 30% on Wednesday. Credit Suisse would be the first major global bank to be given such a lifeline since the 2008 financial crisis - though central banks have extended liquidity more generally to banks during times of market stress including the coronavirus pandemic.

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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.

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Hero Electric expects to double its two-wheeler sales in FY24

CFO News

"There were constraints in the availability of semiconductors, which have now eased. Momentum in the market is good. We will close this fiscal with sales of about 100,000 units and aim to grow by 1.7-2.2 times in the next financial year," Munjal, who is the managing director (MD) at Hero Electric, told ET.

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BFSI companies scale up campus hiring amid global gloom

CFO News

Banking, financial services and insurance companies including HDFC Bank, ICICI Bank, JP Morgan, NatWest Group, DE Shaw India, Ambit, and Edelweiss Tokio Life Insurance, are significantly ramping up campus hiring across engineering and regular graduate colleges, business schools, and even CA and law institutes.

Banking 52
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LIC Housing Finance's chairman resigns

CFO News

" M. R. Kumar, chairman [non-executive (nominee) director] has tendered his resignation from the board of the LIC Housing Finance consequent upon attainment of superannuation from the services of Life Insurance Corporation of India with effect from March 13, 2023.

Finance 52
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To hike or not to hike? Fed's next move in question as bank crisis feared

CFO News

"The Fed has a very difficult policy decision to make at next week's meeting," said Paul Ashworth, chief North America economist at Capital Economics, which for now still leans towards the Fed raising interest rates by a quarter percentage point. "It is a very close call. the risk of a full-blown contagion remains, and a lot can happen in the week until the announcement.

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PowerPoint Best Practices for Creating Stellar Presentations

Mastering data visualization in PowerPoint will help accelerate your career because it positions you as someone who can present data that drives business decisions forward. think-cell's PowerPoint Best Practices eBook was created specifically for professionals aiming to master the art and science of data-driven storytelling. What’s inside: Practical Insights: Uncover valuable tips for crafting engaging and persuasive presentations.

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India's imports and exports dip over 8% each in February, trade deficit at $17.43 bn

CFO News

​​Exports dipped to USD 33.88 billion in February 2023 from USD 37.15 billion in the same month a year ago while imports fell to USD 51.31 bn as against USD 55.9 bn in same month last year.

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RBI's Shaktikanta Das bags Governor of the Year award

CFO News

The Reserve Bank of India (RBI) governor Shaktikanta Das has been awarded the Governor of the Year award by Central Banking. RBI's former governor Raghuram Rajan was conferred the title back in 2015. Das has helped maneuver the ship as it faced multiple obstacles since his appointment, the Covid-19 pandemic and the Russia-Ukraine war being the two major tests.

Banking 52
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Apple supplier Foxconn warns on consumer electronics demand as Q4 profit dips

CFO News

The world's largest contract electronics maker, which gets more than half of its revenue from consumer electronics, forecast significant growth this year in other areas such as computing, cloud and networking and component products.