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 262
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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 120
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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 229
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Confronting the Change Challenge

Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.

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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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Travel and Expense Policy Success: Your Essential Checklist

Setting the stage for successful organizational change always begins with clear, thoughtful communication. When it comes to rolling out a new travel and expense (T&E) policy, establishing a well-structured communication plan is key to ensuring that all employees understand the changes and their impact. By following a step-by-step approach, you can guide your organization through the transition, fostering smooth adoption from the outset and improving compliance.

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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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If It Aint Broke, Don’t Fix It: A Dangerous Mindset

Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be

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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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Navigating Corporate Travel Changes Post-Pandemic

Global business travel is surging, with companies spending as much as or more than they did before the pandemic. This trend is expected to continue, with more growth on the horizon. The types of travelers are also changing, with millennials and Gen Zers taking on the majority of the load. Business travel is evolving, and younger generations expect less hassle, even though there are more ways to book and pay for travel than ever before.

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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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4 Things Great Companies Do to Improve Cash Flow

Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

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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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The Financial Leaders Playbook: How To Deliver Insight, Oversight, And Foresight

Speaker: Chandra McCormack, CPA, MBA, NACD.DC

Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.