Thu.Oct 05, 2023

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The Virtues of “Payback” | Ralph Leung, CFO, Achieve

CFO Thought Leader

939: Creating a Narrative for Growth | Ralph Leung, CFO, Achieve 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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PCAOB chief slams auditors for 40% error rate

CFO Dive

The federal overseer of audit firms last year doubled the number of enforcement orders compared with 2021 and imposed record penalties.

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Cancelling Michael Lewis

Barry Ritholtz

“If you want to read a moral condemnation of crypto theft, you can get that anywhere. You go to Michael Lewis for character and story.” – Matt Levine Michael Lewis’s new book “ Going Infinite: The Rise and Fall of a New Tycoon ” came out this week. I got a copy earlier after signing an NDA that I would not disclose anything about it until after the publication date, which was Tuesday, October 3rd.

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84% of CFOs wrestle with talent crunch

CFO Dive

Accounting ranked as the top finance function struggling with talent shortages, amid high turn over and dwindling new entrants.

Finance 313
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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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Hot-Tip: How AI is Changing the SAP Ecosystem and Digital Solutions Economy

Bramasol

It seems like everyone is talking about AI these days, especially since new Generative AI (Gen AI) applications burst into the public consciousness in late 2022! While Gen AI holds real promise for improving business operations, customer engagement, and enterprise-wide strategic management, it can sometimes be hard to separate substance from hype. Here are some links to resources that should be helpful: How Generative AI is Impacting the Digital Solutions Economy (DSE) This blog post from Bramas

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Kitces & Carl Ep 122: Helping Clients Make Decisions That DON’T Make (Financial) Sense

Nerd's Eye View

For many financial advisors, financial planning advice traditionally focuses on optimization: tax-efficient, continually rebalanced portfolios are often designed to maximize a client's wealth throughout retirement. Such optimization can serve as the backbone of an advisor's value proposition, providing a bottom-line analysis that communicates why those (not insubstantial) fees are worthwhile at the end of the day.

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JPMorgan, Citi critique FASB’s credit losses fix

CFO Dive

The CECL standard was originally aimed at encouraging timelier reporting of deteriorated asset values.

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RBI maintains status quo with another pause; repo rate remains at 6.5%

CFO News

The RBI maintains another pause and keeps the rates unchanged at 6.5 per cent in the monetary policy which began on October 4 and concluded on October 6. FY 24 real GDP growth maintained at 6.5 per cent; and inflation outlook at 5.4% in FY24, announces Shaktikanta Das, Governor, RBI.

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Business Loans for Small Business – Soft Pull and Fast Funding

Business Credit Blogger

Business Loans for Small Business Is your business in need of a loan or line of credit? In today’s post we’ll discuss business loans for small business owners and how to apply. First, let’s discuss how a business loan or line of credit can benefit your company. You can use a loan or line of […] The post Business Loans for Small Business – Soft Pull and Fast Funding appeared first on Business Credit.

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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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Insolvencies adjust back to pre-pandemic levels

Future CFO

The increase in insolvencies continues at an accelerated pace in 2023, followed by a more tempered increase in 2024, said Atradius recently. As the world adjusts to post-pandemic normality, there has been a sharp increase in business failures, the trade credit insurer noted. Many have collapsed under the pressure of squeezed profit margins and difficulties in accessing finance, or funding debt amid higher interest rates, the firm added.

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India Inc may log a robust performance in second quarter

CFO News

ETIG's estimates showed aggregate net profit of Nifty 50 companies may climb 37.8% year-on-year in the three months to September, the highest since the second quarter of 2021 when profit growth, on a base of unprecedented contraction triggered by Covid-era mobility curbs, was 48.7%.

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4 Things to Know About Employee Retention Credit

Financial Analyst Insider

Employee retention credit (ERC), or Employee Retention Tax Credit (ERTC), is a tax refundable credit for tax-exempt organizations and businesses that experienced financial losses during The post 4 Things to Know About Employee Retention Credit appeared first on Financial Analyst Insider.

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FY24 excise duty collection target may be cut by Rs 45,000 crore

CFO News

The Indian government may lower its excise duty collection target for fiscal year 2024 by ₹45,000 crore if crude oil prices remain high, according to sources. However, this revision is not expected to affect overall revenue as other resources can compensate for the shortfall. The final decision on any reduction will be made at the highest political level.

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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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Transparency: A core Centage value

Centage

When we sat down to look across the business to the areas that needed to be changed, the biggest change was to drive transparency. Transparency is the cornerstone of our business – so much so that it’s now one of our values. This isn’t just an internal value that management is transparent with employees. This extends out to our customers and prospective customers.

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India's inclusion in JPMorgan Bond Index may spur inflows of $23b: FM Sitharaman

CFO News

Finance Minister Nirmala Sitharaman has stated that JPMorgan's decision to include Indian government bonds in its emerging market debt index could potentially bring in around $23 billion in annual inflows. She highlighted the importance of political stability, policy consistency, and decisive reforms in driving India's economic growth. Sitharaman also emphasized the need for futuristic and reform-oriented policy-making to support business growth.

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ACCA, IFAC, CA ANZ survey: accountants still the most trusted in tax

Future CFO

Accountants remain the most trusted players in tax, according to a survey by the Association of Chartered Certified Accountants (ACCA), the International Federation of Accountants (IFAC), and the Chartered Accountants Australia and New Zealand (CA ANZ). The Public Trust in Tax survey which asked 7,700 members of the public across the world revealed that accountants have a major role to play in addressing corruption, which negatively impact on attitudes towards tax in economies.

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RBI likely to maintain status quo on benchmark interest rate: Experts

CFO News

Experts predict that the Reserve Bank of India (RBI) will maintain the current benchmark interest rate at its bi-monthly monetary policy review due to elevated inflation and global factors. The RBI has kept the rate unchanged in the last three policy reviews and is expected to continue with the existing rate structure. The RBI's mandate is to ensure that retail inflation remains at 4% with a margin of 2% on either side.

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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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10 Thursday AM Reads

Barry Ritholtz

My morning train WFH reads: • Michael Jordan, Josh Kushner And The 16 Other New Members Of The Forbes 400. Meet the latest additions to Forbes’ ranking of America’s richest people. ( Forbes ) see also Donald Trump, Sam Bankman-Fried And The Snapchat Founders: Here’s Who Fell Off The 2023 Forbes 400 List Of Richest Americans : These 24 billionaires lost a combined $43 billion—and their spot among the nation’s wealthiest people. ( Forbes ) • One Investor’s Uphill Battle to Turn Rewilding Into a Mu

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Banks' fraud account classification faces legal challenges: No personal hearings, potential court battles ahead

CFO News

Banks in India will not provide a personal hearing to companies before classifying them as 'fraud' accounts, but will re-evaluate the decision if legally challenged. The procedure, which aims to codify the steps to classify companies with outstanding loans of ₹50 crore or more as fraud accounts, follows a Supreme Court direction in March 2023 to provide a hearing to borrowers before such a step is taken.

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SAT quashes Sebi's order against NDTV promoters

CFO News

"The impugned order passed by the WTM dated November 27, 2020, against Prannoy Roy and Radhika Roy in appeal no. 557 of 2020 and 558 of 2020 cannot be sustained and is quashed," SAT presiding officer justice Tarun Agarwala and technical member Meera Swarup said in order on Thursday.

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India M&A deals dip 57 per cent to $66 billion in January-September' 23

CFO News

India-focused M&A activity has reached a three-year low, falling 56.6% to $65.6bn in the first nine months of 2023, according to the India Investment Banking Review. Domestic M&A activity fell 60% to $44.1bn, while inbound M&A dropped 47% to $16.4bn. The financial sector accounted for the largest share of deal activity at 46.7%, totalling $30.6bn, down 56% from last year.

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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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Tax dept agrees to refund Rs 190 cr to Vedanta, Delhi HC takes note

CFO News

The income tax department has agreed to refund Vedanta Ltd with a sum of Rs 190 crore along with interest for the assessment year 2021-22. Vedanta had filed a complaint in the Delhi High Court stating that the department had not refunded the determined amount. The court has ordered the department to comply with the refund by October 30. Vedanta had also requested the refund amount to be adjusted against an outstanding demand raised by the department for the assessment year 2011-12.

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Sebi likely to tell SC Adani inquiry began 2014, but hit dead end: Report

CFO News

The Securities and Exchange Board of India (SEBI) will say for the first time that India's customs authority alerted it to an alleged misuse of offshore funds by Adani Group companies in 2014 but that the initial investigation did not yield anything and was paused in 2017, the sources said.

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Rush for raising funds via QIPs hints at pickup in private capex cycle

CFO News

During the first-half of FY24, 20 companies have together raised ₹18,500 crore through QIPs, while another dozen have already announced plans to raise up to ₹25,000 crore through this route.

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Sebi forms panel for easing rules

CFO News

Sebi: The regulator said, following the budget announcement for FY24, it formed 16 working groups, under the aegis of its standing advisory committees.

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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.