Thu.Mar 16, 2023

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Déjà Vu? 2023 is Not 2008

Barry Ritholtz

Depositors heaved a sigh of relief when news broke Sunday that the Federal Deposit Insurance Corporation was going to make whole all of the accounts held at Silicon Valley Bank. Having full access to bank accounts meant those tech start-ups that make up much of SVB’s depositors would be able to make their weekly payrolls. They were the lucky ones: SVB’s equity investors were wiped out and senior bank management was fired.

Treasury 134
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KPMG’s 29-year SVB stint stirs independence debate

CFO Dive

The bank’s failure — two weeks after it effectively got a clean bill of financial health — is reigniting some concerns that cozy client-auditor ties may jeopardize audit rigor.

Auditing 274
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SVB Collapse Puts Additional Pressure on CFOs

The Finance Weekly

The quick and unexpected collapse of the second and third largest bank collapses in US history sent shock waves throughout the markets. Silicon Valley Bank (SVB) collapsed last Friday and it sent both private and public companies scrambling to address what exposures they had with SVB and other banks that might be at risk. To top it off, this occurred on a Friday, meaning many executives and CFOs had to wait all weekend until Monday to take real action.

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SVB CFO may be swept up in stock dumping scrutiny

CFO Dive

Finance chief Daniel Beck is among three SVB Financial senior officers who sold company shares worth a combined total of about $4.5 million as of Jan. 1, according to insider trading research firm Smart Insider.

CFO 249
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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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What it takes to be a successful finance leader: Joy, Empathy, The Big Picture

CFO News

​​Financial acumen or leadership style; social impact, emotional quotient or crystal ball gazer -- finance chiefs need to be analytical, creative, and empathetic but are these enough ingredients to become a successful leader?

Finance 98

More Trending

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Tremors from Silicon Valley to Swiss Alps

CFO News

This week was one such week for the global financial markets and economy when two US banks - Silicon Valley Bank and Signature Bank - went belly-up and the storied 'too big to fail' Credit Suisse came on a brink of collapse.

Banking 98
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Does SVB failure expose CFO job creep’s weaknesses?

CFO Dive

The bank's chief risk officer seat was left vacant for much of 2022, raising questions about how such responsibilities are distributed and to whom in the modern C-suite.

CFO 232
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Entry of foreign law firms in India to at least double legal fees in 2-3 years: Corporate Lawyer Mohit Saraf

CFO News

Foreign law firms getting a foot in the Indian legal door will also be a wake-up call for the domestic law firms, which are not professionally managed, Saraf said.

98
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Nearly one-third of CFOs to diversify deposits across banks: study

CFO Dive

CFOs are looking to take immediate action to assess the risk and exposure to their businesses following recent bank failures.

Banking 271
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Planning Your Restaurant's 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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India’s GDP growth to slowdown at 6% for next FY: Crisil

CFO News

The Crisil report also predicted that over the next five fiscals, India’s GDP will grow at 6.8% annually, driven by capital and productivity increases.

98
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Bond market shakeup: Where we stand today

Tips Watch

By David Enna, Tipswatch.com Even though I am now in beautiful but very windy Split, Croatia, this morning, I couldn’t resist the temptation to check in on Treasury Inflation-Protected Securities after an incredibly volatile week.

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Felt no better time than this to step down, volatility is par for the course: Rajesh Gopinathan of TCS

CFO News

The CFO-turned-CEO said it was also important to exit before the start of the new financial year so that the incoming CEO has a full runway.

CFO 98
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Is the Copper–Gold Ratio a Dependable Leading Indicator on Rates?

CFA Institute

Earlier this year, the copper–gold ratio was, in Jeffrey Gundlach's words, “screaming that the 10-year should go lower.

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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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Is Credit Suisse the next Lehman Brothers?

CFO News

The Swiss-headquartered bank has reported an $8 billion loss in 2022, which led to its stock dropping 30 per cent to an all-time low on Wednesday and many to draw a parallel with Lehman Brothers which was the biggest bank to collapse during the 2008 financial crisis.

Banking 84
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VC And Crypto Investors Eye Alternatives After US Bank Failures

Global Finance

The Middle East could prove a profitable oasis.

Banking 102
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As tech companies turn conservative, GCCs step up hiring

CFO News

In the last one year, amid a churn and reduced competitive hiring in the rest of the tech cohort, the global capability centres (GCCs) of MNCs met 46% of their talent needs by absorbing employees from IT and new-age companies, shows a survey conducted by staffing services company Xpheno for ET. As much as 32% of the hiring was from IT services alone.

52
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China's policy shifts to targeting recovery in domestic demand  

Future CFO

China’s policy, including its reopening and policy measures that refocus on growth rather than regulatory tightening, will likely drive a recovery of private consumption and stabilisation of the property market from a low base, said Moody’s recently. At annual meetings of China's (A1 stable) top legislative and advisory bodies, policymakers set an economic growth target for 2023 of 5%, which Moody’s said is in line with its growth forecast.

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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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Comptroller & Auditor General lens on e-bike companies claim to FAME

CFO News

It is examining the claims of all the manufacturers that had claimed incentives under Phase II of the Faster Adoption and Manufacturing of Electric Vehicles (FAME II) scheme, senior government officials and top industry executives told ET.

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Fractional CFOs In Demand for Small and Medium-Sized Businesses

Focus CFO

Are you looking for guidance as you grow your business? Fractional CFOs are emerging as a valuable resource for companies looking to enhance their financial management and planning capabilities. We're excited to see Fortune highlighting the benefits of this model in their recent article, Secrets of a Fractional CFO, but as a leading provider of fractional CFO services, we have over 20 years of first-hand experience with these benefits!

CFO 52
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DIPAM rubbishes media reports of IDBI Bank disinvestment deferment

CFO News

"Reports appearing in a section of the media indicating the possibility of deferment of IDBI Bank disinvestment are misleading, speculative and baseless. The transaction continues to be on track as per the defined process in post-EoI stage following receipts of multiple EoIs," Secretary, Department of Investment and Public Asset Management tweeted.

Banking 52
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Statement of retained earnings: reporting on your rainy day fund

Cube Software

What does it mean to "reinvest in the business"? We've all heard that term. But there's a better term for that cash, right? And what's it called when you report on those investments? They're called retained earnings. And the statement of retained earnings is what you send over when you report on them. In this blog post, we're going to tell you exactly what retained earnings are, what affects them, why they're important, and even how to calculcate them.

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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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After notices, e-pharmacies look to make a case to government

CFO News

The proposed regulation seeks to include a clause that empowers the government to “regulate, restrict or prohibit” any sale, stocking or distribution of any drug by online mode, by issuing a notification”.

Sales 52
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Fractional CFOs In Demand for Small and Medium-Sized Businesses

Focus CFO

Are you looking for guidance as you grow your business? Fractional CFOs are emerging as a valuable resource for companies looking to enhance their financial management and planning capabilities. We're excited to see Fortune highlighting the benefits of this model in their recent article, Secrets of a Fractional CFO, but as a leading provider of fractional CFO services, we have over 20 years of first-hand experience with these benefits!

CFO 52
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Ambani's cola-to-biscuit market dominance rush is coming at a painful cost for distributors

CFO News

"This competition between large companies with lower consumer prices and promotions directly hurts the margins of lakhs of distributors," Dhairyashil Patil, president of All India Consumer Products Distributors Federation (AICPDF), which represents 4 lakh distributors, told ET.

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82: ACH Format vs. Standard Entry Class (SEC)

Strategic Treasurer

Session 82 Coffee Break Session: ACH Format vs. Standard Entry Class (SEC) What is the difference between ACH format and Standard Entry Class? Coffee Break Session Host Jason Campbell catches up with Strategic Treasurer’s Managing Partner, Craig Jeffery, to discuss what these are, the relationship between them, requirements, and the importance of data recording.

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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.