Thu.Jun 13, 2024

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KPMG: 29% of companies feel ready for ESG data assurance

Future CFO

Twenty-nine percent of companies feel ready to have their ESG data independently assured, according to a recent study by KPMG. The data, which reflects an increase of only a fraction from nine months ago, come despite fast-approaching and evolving regulatory deadlines to report on ESG. KPMG’s annual ESG Assurance Maturity Index is based on responses from 1,000 senior executives and board members at organisations across industries, global regions and revenue sizes, classifying them into Leaders (

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FASB’s environmental credit rules recall crypto debate

CFO Dive

Like crypto rules FASB recently finalized, the environmental credit accounting standards would provide specific guidance where GAAP is currently silent.

GAAP 293
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Trending Sources

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Debunking QSR Minimum Wage BS: A Follow Up

Barry Ritholtz

@TBPInvictus here A few days ago, Barry and I detailed how unscrupulous bad actors had taken Not Seasonally Adjusted data to falsely claim that California’s new $20/hour minimum wage had cost the state almost 10,000 quick-serve restaurant (QSR) jobs. I wrote: It appears to me that the Journal got that number from BLS. However, BLS only offers the series without seasonal adjustment; this makes a very meaningful difference.

Economics 121
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Reduced pricing plan sees Wise shares slump despite profit surge

CFO Dive

The fintech plans to continue its strategy of reducing prices for its customers, which is reflected in its forecast, interim CFO Kingsley Kemish said.

Planning 272
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How to Navigate Revenue and Expense Management: Competitive Insights for Financial Success

Speaker: Hilary Akhaabi, PhD - Founder, Chief Financial & Operations Officer at Go Africa Global

In the fast-paced world of corporate finance, staying ahead of the curve is crucial for sustainable growth and profitability. This exclusive webinar with leading expert Hilary Akhaabi, PhD, will teach you practical ways to navigate complex financial landscapes and enhance your company's revenue management capabilities. Whether you're aiming to refine your financial strategies or seeking innovative solutions to drive performance, this new session is for you!

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Reorganization Spurs Synergies: Q&A With Citi Commerical Bank’s Raymond Gatcliffe

Global Finance

Head of Commercial Bank in North America at Citi discusses the company’s reorganization of its banking lines with Global Finance. In mid-September, Citi CEO Jane Fraser announced a comprehensive reorganization of the banking giant. Part of the simplified operations model included putting its commercial banking, corporate banking and investment banking businesses under one Banking business line.

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SAP Gen AI Capabilities Shift into High Gear with New Announcements at SAPPHIRE

Bramasol

With Sapphire now behind us, it is a great time for this Insights series to provide a quick overview of all the AI-related new initiatives from SAP and strategic partners that were announced and/or spotlighted during the event. While each announcement is significant in its own right, the really big story is how all of these pieces are creating a comprehensive fabric of AI-capabilities woven throughout the SAP S/4HANA Cloud-based ecosystem.

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Kitces & Carl Ep 140: Are You Worrying About Scale Before You Even Have A Scale Problem

Nerd's Eye View

As the financial advice industry continues to move toward providing full-blown professional services rather than focusing primarily on product sales, advisory (advicery?) firms are increasingly experiencing similar stages of growth in their practices. From the initial stage of onboarding their first clients to the point of hitting a capacity wall and deciding whether to increase their headcount, and later to a threshold where an ensemble business eventually becomes an enterprise, advicers face m

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AI success depends on the CFO, not IT

Future CFO

Accelerated enterprise artificial intelligence spending and adoption is on the horizon, and chief financial officers will be responsible for effectively managing the costs and common problems — including cost overruns, misuse in decision making, loss of trust and rigid mindset — associated with how organizations use this transformative technology. Gartner VP Analyst Nisha Bhandare and Senior Director Analyst Clement Christensen discuss a comprehensive framework to categorise AI initiatives acros

CFO 52
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Strategic Partnerships with Fractional CFO Services

CFO Plans

“`html Strategic Partnerships with Fractional CFO Services In today’s fast-paced business world, companies of all sizes are on the hunt for ways to streamline operations, cut costs, and foster sustainable growth. One game-changing strategy that’s become increasingly popular is leveraging Fractional CFO services. These part-time financial experts provide strategic guidance without the hefty price tag of a full-time CFO, making high-level financial leadership accessible to all business

CFO 52
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How To Streamline Finance Operations Through Automation

Speaker: Claire Grosjean

In today’s fast-paced business environment, finance professionals are under increasing pressure to optimize operations and drive strategic value. As a result, automation has become a core part of business strategy, offering unprecedented opportunities to streamline operations and drive efficiency. Join esteemed global finance and operations executive, Claire Grosjean, for a comprehensive guide on how to harness automation’s power through strategic collaboration with functional leaders.

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Hiring a CFO – Do You Need the Tortoise or the Hare?

CFO Selections

Aesop’s fable about the race between the tortoise and the hare provides a story to show how a race is not always for the swiftest. In the business world, some companies are very focused on short-term financial results while others are managing for the very long-term time horizon. Some companies are working to improve their operations and financial results in order to sell the business in a few years, while others are building a business for the next generation of owners.

CFO 52
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Rajib Kumar Mishra ceases as PFS chairman, PTC India CMD after SEBI's governance breach order

CFO News

SEBI also barred former PFS Managing Director (MD) and Chief Executive Officer (CEO) Pawan Singh from holding the position of director in any listed company for two years and fined him Rs 25 lakh.

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The Mentoring Round | Erica Gessert, CFO, Upwork

CFO Thought Leader

Inside The Mentoring Round, CFO Erica Gessert emphasizes the importance for CFOs to rely on the best possible data sets for making informed decisions. CFO Gessert discusses the development of AI-enabled features to enhance the connection between clients and freelancers. 1,008: Managing Change and Ensuring Stability | Erica Gessert, CFO, Upwork The post The Mentoring Round | Erica Gessert, CFO, Upwork appeared first on CFO THOUGHT LEADER.

CFO 52
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Flipkart's path to profitability will decide IPO timing, says Walmart CFO

CFO News

Walmart sees financial services as a growth opportunity, with PhonePe and Flipkart driving monetisation prospects. A report by Bernstein Research suggests India's ecommerce market could double by 2025.

CFO 40
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Empowering Business Travel: The CFOs Guide

Business travel is more than just a line item. It’s a strategic opportunity to align with your company’s goals and empower your employees. With 60% of employees dissatisfied with the ease of booking and modifying travel plans, there’s a significant opportunity to improve travel management. This one-pager explores how to transform travel into a powerful tool for organizational success.

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India Inc's high-flyers in for a travel treat; overseas tour, meet-ups with celebs among unique rewards

CFO News

Offsites may never be the same again. Corporates across sectors such as banking, auto and insurance have loosened their purse strings for top performers, partners and distributors this season and are rewarding them with unique travel experiences, luxury watches and bags as well as catch-ups with Bollywood celebrities and other rewards. Travel, including trips with families, figures high on the rewards and incentives list.

Banking 40
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India Inc looking for credit to fund capex, corporate loan worth Rs 5 lakh cr in pipeline: SBI Chief

CFO News

SBI Chairman Khara stated a growing demand for credit from corporates, with Rs 5 lakh crore loans in the pipeline, signaling a shift towards seeking credit for working capital and capacity expansion.

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Strategic reforms in customs duties, GST, commerce to push India's inclusive growth, says GTRI

CFO News

The think tank suggested increasing the GST exemption limit for a firm's annual turnover from 40 lakh to 1.5 crore as this will be transformative for India's MSME sector, promoting job creation and growth. Firms with less than Rs 1.5 crore turnover make up over 80 per cent of registrations but contribute less than 7 per cent of the tax collected, it said adding a yearly turnover of 1.5 crore equals 12-13 lakh monthly turnover, translating to just Rs 1.2 lakh at a 10 per cent profit margin.

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GST Council meeting scheduled for June 22 in New Delhi

CFO News

The 53rd meeting of the GST Council is slated to convene on June 22, 2024, in New Delhi, following the inauguration of a new government. Previously, the 52nd Meeting of the GST Council took place on October 7, 2023, in New Delhi, with Union Finance & Corporate Affairs Minister Nirmala Sitharaman presiding as the chairperson.

Finance 40
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How to Avoid Getting "Ghosted": Top 3 Secrets to Staying Relevant with Gen Z

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant or getting "ghosted" if they fail to meet the evolving needs of Gen Z consumers. In this new webinar, Brian Muse-McKenney of Episode Six and Matt Simester of Payments Consultancy Limited will reveal key considerations banks should factor into their efforts to develop target products for the next generation of bank customers.

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FISME urges govt to review policies to help faltering MSMEs

CFO News

The key body representing MSMEs has also sought the government’s intervention in protecting export-oriented MSMEs and tweaking trade policies to reflect the growing contribution of Asia to global GDP.

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FAME-3 may get a budget-day release; Rs 10,000-crore outlay expected

CFO News

Electric two, three, and four-wheelers are expected to be supported under the Faster Adoption & Manufacturing of Electric Vehicles (FAME) scheme, which could receive a budgetary allocation of about Rs 10,000 crore, people familiar with the deliberations told ET.

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GST Council likely to consider a review of 28% tax on online gaming at June 22 meeting

CFO News

The council may also take up recommendation of the fitment committee on inverted duty structure of 15 items, officials aware of the matter told ET. However, a broader process of rate rationalisation may be pushed for later, they said.

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Tata Consumer Products aspires to be a full-fledged FMCG Co, to double capex to Rs 785 cr in FY25: N Chandrasekaran

CFO News

Tata Consumer Products Ltd plans to diversify and expand into new FMCG categories, doubling capex to Rs 785 crore for FY25 with a focus on a new plant in Vietnam. Chairman N Chandrasekaran emphasized growth through acquisitions, particularly in health-oriented and food products, while investing in digital technology and advertising.

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Navigating the Automation Landscape: Selecting Tools That Fit Your Business

Speaker: Gary Dmitriev

Our upcoming webinar aims to demystify the process of selecting and implementing automation tools for financial institutes. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals. We’ll also address the critical issue of innovation fatigue, offering tips on maintaining enthusiasm and momentum for new initiatives.

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NCLT directs Byju’s to maintain status quo, halts $200 million rights issue

CFO News

The National Company Law Tribunal (NCLT) has directed edtech major Byju's to maintain status quo in its shareholding, pausing its controversial rights issue conducted at a 99% discount to its last peak valuation of $22 billion. Byju's faces a petition from investors in the NCLT and is restrained from proceeding with the rights issue. The matter will be heard next on July 4, and the tribunal has asked for details of Escrow bank accounts and US court actions.

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Curb on unfair GST demand recovery proceedings: GST officials now needs prior approval from higher authority to act within 3 months of demand

CFO News

GST demand order: If you have received a GST demand order, you can either it pay it or file an appeal against it. However if GST officials believe that it is necessary to ask for early payment of the demand before the stipulated time period they can do so. However now they need to give a justifiable reason to do so.

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India Ahead: Need a plan to become a developed country

CFO News

The global economy faces numerous geopolitical challenges, and India has a unique chance to make a significant impact, not just for the next 100 days but for years to come. This is our moment to realise the vision of 'Viksit Bharat'.

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Jaypee Infratech appoints Devang Pravin Patel as CFO

CFO News

Suraksha Group, which has taken control of Jaypee Infratech ltd (JIL) after approval from the appellate tribunal NCLAT last month, will delist JIL from stock exchanges.

CFO 40
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Secure SaaS Success: Embedded Finance as a Competitive Advantage

Speaker: Ian Hillis, SVP of Growth at Payrix and Worldpay for Platforms

Join us for an exclusive webinar hosted by Ian Hillis, SVP of Growth at Payrix and Worldpay for Platforms, where he’ll explore the significant impact of embedded finance on the software industry! This session is designed to provide you with the strategic insights needed to navigate the future of SaaS successfully, all while gaining a deeper understanding of how these trends can enhance your competitive edge, boost revenue, and deepen customer loyalty.