Thu.Sep 14, 2023

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EY launches $1.4B AI-focused platform

CFO Dive

The Big Four firm’s dedicated AI group comes as accounting and financial firms continue to write large checks aimed at cashing in on the technology’s potential.

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What does revision in banks’ investment classification norms imply for banking?

CFO News

The revised accounting norms for investment portfolio, which are effective from April 1, 2024, and are in line with the global financial reporting standards, are expected to enhance the quality of banks' financial reporting, as well as improve disclosures, say experts.

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Netflix CFO sees fallout from Hollywood strikes

CFO Dive

The strikes are “not good for the business,” Netflix CFO Spencer Neumann said in a frank assessment of the situation’s financial impact.

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PM Modi lays foundation stone for Rs 49,000 cr refinery expansion project in MP

CFO News

While laying the foundation stone of the Petrochemical Complex at Bina Refinery, the Prime Minister said that it will be a step forward in the direction of Atma Nirbharta in the petrochemical industry.

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4 Things Great Companies Do to Improve Cash Flow

Speaker: 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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CEOs trim hiring plans

CFO Dive

CEOs at many of the biggest U.S. companies forecast that the economy will grow 2.1% this year, according to the Business Roundtable.

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Apple backs California climate bill requiring large companies to disclose carbon footprint

CFO Dive

Senate Bill 253 would require businesses operating in the Golden State that make over $1 billion to report their greenhouse gas emissions annually.

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The Cost of Not Keeping Accurate Records

CFO Share

When navigating the complex realm of business, one quickly realizes the critical role that accurate bookkeeping plays. It’s not just about numbers; bookkeeping is the lifeblood of informed decision-making, financial clarity, and business credibility. However, the importance of bookkeeping is commonly undervalued, causing financial missteps and damaging stakeholder trust.

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ESG ratings fluctuate for asset managers: Morningstar

CFO Dive

Three U.S.-based firms saw their grades move up, while UBS Asset Management slipped following its merger with Credit Suisse.

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Suzlon to cut exposure to global markets, focus on local demand: CFO

CFO News

The lower focus on the external headwinds can save any company from fluctuations in revenue, should there be any global headwinds, economic slowdown, and volatility, says Himanshu Mody.

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The Financial Leader's 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.

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G2 awards Cube 32 badges and top spot for "CPM" and "Budgeting and Forecasting" (Fall ‘23)

Cube Software

It’s official: Cube receives 32 badges in G2’s Fall Report In addition to earning the top spot for Corporate Performance Management (CPM) and Budgeting and Forecasting , Cube’s G2 badges were earned across several disciplines, including Financial Close and Financial Analysis.

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Future Proof 2023: That’s a Wrap!

Barry Ritholtz

I made it back home from California late last night after a long day of travel and an exhausting but absolutely exhilarating week. Following the breakout success of Future Proof 2022, this year’s event was even bigger and better — almost 3,000 attendees and nearly 200 sponsors. Everything about this year was next level — the audience, the sponsors, the bands, it was amazing!

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What Is a Corporation? How To Make a Corporation and How They Work

CFO Share

Starting a business is an exciting venture, and choosing the right structure is crucial for your success. Why form a corporation? Understanding what a corporation is and how to make a corporation can be the key to setting your business on the path to success. Understanding Corporations A corporation is a legal entity that is separate from its owners.

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Tax transformation: Compliance is many firms’ greatest challenge

Future CFO

When it comes to tax transformation, compliance is seen as the greatest challenge among 43% of companies surveyed by Deloitte. The company recently released results of its 2023 Tax Transformation Trends survey, a biannual effort which details sentiments from more than 300 senior global tax and finance executives. To respond effectively to increasingly complex changes — including OECD Pillar Two requirements and the rise in indirect taxes around the world — tax departments will need both access t

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How Unify Turned Month-End Mayhem Into a Growth Party With Automation!

By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.

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Grasim eyes paint business entry in Q4 to step up market share fight for Berger, others

CFO News

Birla Opus: Grasim Industries, the flagship company of Aditya Birla Group, has announced the launch of its paints business called Birla Opus. The company plans to enter the decorative paints segment in the fourth quarter of FY24. Grasim aims to become the second-largest player in the market and has committed to investing around Rs 10,000 crore.

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The BP&B Health Check: Your Roadmap to Financial & Operational Excellence

E78 Partners

The famous author, Seth Godin wrote , “Change almost never fails because it’s too early. It almost always fails because it’s too late.” Today, companies must adapt, evolve, and plan meticulously to stay competitive and profitable. Leaders are at the helm steering their organizations through changing consumer, market, and Board expectations. To guarantee they remain on the right course, having a solid plan and budget in place is paramount for ensuring success.

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Reliance-owned Hamleys opens Milan store with Italian franchise partner GP

CFO News

Hamleys, which was acquired by Reliance Brands in 2019, plans to establish itself as a focal point in Milan and will also open a flagship store in Rome. The iconic toy retailer currently operates in 15 countries with 191 stores worldwide.

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The Climb to Profitability | Jeff Coulter, CFO, Cognite

CFO Thought Leader

932: Finance’s Leadership Paradox | Jeff Coulter, CFO, Cognite MADE POSSIBLE BY PLANFUL | Planful is the pioneer of financial performance management cloud software. The Planful platform, which helps businesses drive peak financial performance, is used around the globe to streamline business-wide planning, budgeting, consolidations, reporting, and analytics.

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How to Select the Perfect Payments Partner: 7 Keys for Sustainable Growth

Speaker: Brad Pinneke, VP of Business Development at Payrix and Worldpay for Platforms

Join Brad Pinneke, Vice President of Business Development at Payrix and Worldpay for Platforms for an informational webinar about how to select the ideal payments provider for your platform! This session highlights the 7 key criteria for assessing payments partners and maximizing the value of your investment. From evaluating technology and business development programs to understanding support and compliance, this webinar will equip you with a comprehensive evaluation framework and strategy for

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Services could be India’s growth driver, help generate 70mn jobs over next decade: HSBC Global Research

CFO News

India's services sector has the potential to drive growth and job creation in other sectors like manufacturing and agriculture, according to a report by HSBC Global Research. The report suggests that services companies can help smaller manufacturing firms achieve scale by leveraging digital infrastructure and accessing formal credit, cheaper raw materials, and better logistics.

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Segregation of Duties to Prevent Embezzlement

Michigan CFO

In the business world, efficient and accurate processes are essential to smooth operations and safeguarding against potential fraud or errors. An integral part of this is the concept of “Segregation of Duties” (SoD). What is Segregation of Duties? SoD is a risk management strategy that divides critical financial tasks among various individuals. The core idea behind this is simple yet profoundly impactful: No single individual should have control over all aspects of any single transaction.

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Reduce GST on entry-level two-wheelers: FADA to Centre

CFO News

At the Auto Retail Conclave here, FADA president Manish Raj Singhania said while retail sales of automobiles have grown by around 7% in the current fiscal, the entry-level two-wheelers are yet to post strong expansion in volume.

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RBI releases list of 15 NBFCs in 'upper layer' under scale based regulations

CFO News

The Reserve Bank of India has released a list of fifteen NBFCs that fall under the "upper layer" in the scale-based regulation for the financial year 2024. LIC Housing Finance Limited, Bajaj Finance Limited, and Shriram Finance Limited are among the top-ranking companies on the list.

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2024 Annual Trends Survey: Expense Management Insights

Uncover the latest trends in expense management for small and medium-sized businesses. Our 5th Annual Trends Survey reveals that corporate card use is skyrocketing, but expense software isn't keeping up. This mismatch is creating real challenges for finance teams, who now take an average of 14 days to close their books. Travel policies are shifting to accommodate hybrid work, but many companies are struggling with off-tool bookings.

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SpiceJet completes $1.5 million payment to Credit Suisse, shares rise

CFO News

SpiceJet has made a payment of $1.5 million to Credit Suisse after the Supreme Court of India ordered the chairman of the budget carrier, Ajay Singh, to pay the amount or face imprisonment. The court had previously asked Singh to make a payment of $500,000 by September 22nd, along with $1 million towards the defaulted amount.

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TotalEnergies in talks to invest in Adani Green’s projects, sources say

CFO News

The deal would increase Total’s presence in the fast-growing Indian energy market, while giving Adani Green more means to develop new renewable energy projects. It would also see Total deepen its ties with Adani Green, which it’s already the second largest shareholder of with a 19.75% stake, according to data compiled by Bloomberg.

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S&P warns of possible credit rating downgrade for Vedanta Resources over debt policy shifts

CFO News

S&P Global Ratings has warned that any changes in Vedanta Resources' financial policy regarding debt transactions could lead to a downgrade of its credit rating. This would occur if Vedanta attempts a debt deal without adequate compensation or buys back debt below its face value. Vedanta is currently exploring ways to meet its obligations, but S&P maintains a negative outlook on the company due to potential funding shortfalls.

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Ashwin Sheth Group appoints Gauri Tandle as CFO

CFO News

Gauri possesses twenty-seven years of experience in shareholder value creation, ESG, corporate governance, business partnering, mergers and acquisitions, treasury and funding, investor relations, cost management, taxation, financial accounting, and reporting.

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Unlock The Power Of The CFO Toolkit

Speaker: Duke Heninger

With the rise of fractional finance roles, many CFOs, FP&A professionals, controllers, and accountants are stepping into independent consulting. The expansion of fractional services presents new opportunities for finance professionals, but many face challenges in navigating this transition, finding it daunting. Whether you’re new to fractional work or refining your approach, this webinar will equip you with a repeatable system for success.