Fri.Jul 21, 2023

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Companies cut costs as rates rose: S&P

CFO Dive

U.S. companies with comparatively weak balance sheets trimmed costs less during the first quarter than their counterparts with investment grade ratings, S&P said.

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America’s Enormous Math Mistake’s Mistake

Barry Ritholtz

@TBPInvictus here; Let’s cut to the chase : A popular video on YouTube claims the poor are much less poor than the official statistics suggest because those statistics ignore government welfare programs like Food Stamps and Aid to Dependant Children and lots of other safety net programs. If this were true, it would mean we have been measuring income inequality incorrectly (perhaps wealth inequality as well).

Math 98
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Trending Sources

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Chewy names interim CFO to replace retiring Mario Marte

CFO Dive

Marte, 47, is stepping down from the pet food retailer’s CFO seat later this month. He helped take the e-commerce powerhouse public in 2019.

CFO 130
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We Have Lost All Sense of Decorum

The Reformed Broker

Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Sam Ro, Jack Raines, and Downtown Josh Brown discuss AI and the market, the meme economy, Nvidia’s rollercoaster year, the earnings recession, financial charlatans, Berkshire’s massive bet on Apple, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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Salaried individuals under I-T scanner as taxman serves notices asking assessees for documentary proof to claim exemption

CFO News

Unlike in the past when it was easier to escape the glare of the tax office, many may run out of luck now as their returns are red-flagged by softwares used by the revenue department.

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More Trending

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Weekend Reading For Financial Planners (July 22-23)

Nerd's Eye View

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that Charles Schwab's latest annual RIA Benchmarking Study shows that while average firm assets under management fell in 2022, due largely to weak market performance, organic growth remained strong, mitigating a portion of the market effects on client portfolios.

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Former SBI CFO Charanjit Attra joins Jio Financial Services as COO

CFO News

Attra joined SBI as CFO in October 2020, and resigned from the services after a stint of 2 years and 8 months which completed on June 30, 2023.

CFO 98
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Pregnant Workers Fairness Act (PWFA) Compliance & Implementation

VCFO

The Pregnant Workers Fairness Act (PWFA) – Business Compliance and Implementation Over decades, numerous local, state, and federal laws have been enacted to ensure employees are provided with sensible working conditions and protections from discrimination based on medical conditions and a range of other factors. On June 27, 2023, the federal Pregnant Workers Fairness Act (PWFA) joined these regulations as it went into effect to address accommodations for workers experiencing limitations as a res

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Auditors are not expected to find frauds but they must follow processes: NFRA Chair

CFO News

NFRA: Ajay Bhushan Pandey says auditors must question the business rationale and show greater professional scepticism.

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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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Digital Transformation in Finance: How to Drive the Process

Spreadym

Digital transformation in finance refers to the process of integrating digital technologies and innovations into all aspects of financial services and operations within a financial institution or organization. The objective of digital transformation is to modernize and improve the efficiency, agility, and customer experience in the financial industry by leveraging technology and data-driven solutions.

Finance 52
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In Q1, headcount at IT companies shrinks sharpest in three years

CFO News

Six leading Indian IT services companies that have announced first-quarter earnings recorded the sharpest contraction in headcount in the last three years in the April-June period.

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How to Know if Your ERP Partner Will Give the Support You Need

Navigator SAP

The cloud has made ERP rollout and ongoing maintenance much easier than it was 15 years ago. But rolling out an ERP system and ensuring that it meets both the current and future needs of the business still is complex. A business that uses ERP for backend operations still needs a support partner. Unlike most other software solutions, ERP encompasses all corners of a business.

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India shuts down another China entry - this time Megha-BYD's $1 billion plan for four-wheeler facility

CFO News

The two companies had in their application to the Department for Promotion of Industry and Internal Trade (DPIIT) proposed to set up an electric vehicle plant in Hyderabad. The DPIIT had sought opinions from other departments on the investment proposal.

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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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SPAC planning Trump Media buy settles SEC fraud charges

CFO Dive

The SEC’s fraud investigation was a major hurdle for the merger deal, which was proposed in 2021.

Planning 130
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India's forex reserves breach $600 billion-mark, hover around 15-month high

CFO News

India's foreign exchange reserves went up by $12.74 billion and stood at $609.02 billion as on July 14, 2023, Reserve Bank of India data showed on Friday. Previously, forex reserves had witnessed an uptick of $1.23 billion for the week ending on July 7.

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G20 Energy Panel unable to reach consensus

CFO News

About 60% of the communique has been agreed upon, but negotiations are still continuing on whether the future of hydrogen should be green or clean, people aware of the development said.

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Board of pencil maker DOMS approves IPO

CFO News

Fabbrica Italiana Lapis ed Affini (Fila), the Italian pencil manufacturer, has announced plans for an IPO for its Indian subsidiary, DOMS, with the IPO due to take place later in 2019. Fila plans to offer €90m in share capital to investors, while still remaining the largest shareholder in the company.

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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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Xiaomi, Oppo, Vivo and Lenovo under probe over alleged GST evasion

CFO News

The Indian government is pursuing unpaid tax dues from Chinese smartphone brands, including Xiaomi, Oppo, Vivo, and PC maker Lenovo, and investigating alleged GST and import levy evasion over several years. Xiaomi India has been issued multiple show-cause notices for customs duty evasion and is being investigated for GST evasion from 2017 to July 2023.

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?F?ive in 10 Indian employees feel unwanted at work sometimes : Survey

CFO News

The report, which has responses from 1,000 employees across various industries, finds that a majority of Indian employees (51%) report never feeling safe or able to be their authentic selves in the workplace. This suggests a need for increased inclusivity and diversity in Indian workplaces.

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Retail loans by NBFCs grow at 26% last FY, unsecured loans key driver: ICRA

CFO News

Rating agency ICRA has revised its growth estimates for retail credit by finance companies to 18-20 per cent for FY24 from an earlier assessment of 12-14 per cent. Evolution of credit bureaus and improved understanding of borrower-level cash flows over the years have helped NBFCs fine-tune their underwriting models.

Retail 52
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Inflation set to overshoot RBI's target in July, August on high vegetable prices: Nomura

CFO News

The government, which banned non-basmati rice exports earlier this week, is likely to usher in more supply-side measures to tame the price rise going forward, Nomura said in a note. "We expect continued supply-side interventions, with inflation likely to be above 6 per cent levels in July and August, buoyed by sky-high vegetable prices," Nomura economists said.

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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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Sebi cancels registration of Progressive Comtrade in NSEL case

CFO News

The Securities and Exchange Board of India (SEBI) has cancelled the registration of Progressive Comtrade and Leo Global Commodities for facilitating their clients to trade in illegal 'paired contracts' on the National Spot Exchange Ltd, which is now defunct.

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Nifty IT Index may hit fresh life-time high in next 18 months: Gaurav Bissa

CFO News

​Now it is making a fresh swing high so at the current juncture if it sustains above levels of 970 probably it can head towards 1100 in a short period of time or 1120 for that matter.

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Now, UPI-based payments to be accepted in Sri Lanka

CFO News

Apart from pact on UPI, India and Sri Lanka also agreed to conduct feasibility studies on petroleum line, land bridge connectivity between the countries, PM Modi said in a joint briefing with Wickremesinghe in New Delhi. The UPI payments system has gained immense popularity for digital retail payments in India, with its adoption growing rapidly. So far, France, UAE, and Singapore had parterned with India on the emerging fintech and payment solutions.

Retail 52
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Indian Synthetic Rubber appoints Ex-Schneider’s exec Mayank Holani as CFO

CFO News

Mayank Holani: Holani’s appointment was effective July 14, and he replaces Anil Kumar Singh. Holani is expected to drive the expansion plans of the company.

CFO 52
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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.