CFO Selections

JUNE 14, 2023

Hiring a fractional (part-time) CFO is becoming increasingly popular because this type of employment engagement offers significant cost benefits. Outsourcing their CFO role allows an organization to bring someone in for a fraction of the cost because they do not incur expenses related to benefits, bonuses, payroll taxes, etc. As Michael Newsome explains when talking about utilizing fractional service providers , “Searching for ways to optimize human capital, while fighting the inefficiencies of

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CFO Dive

JUNE 14, 2023

Wells Fargo CFO Michael P. Santomassimo is the latest big bank executive to detail commercial real estate distress and its potential impact on lenders.

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CFO Banking 309

Navigator SAP

JUNE 14, 2023

An ERP system costs 2% to 3% of the annual revenue of a large company (classified as companies with revenues over $1 billion) to operate. While that seems like a small number, it’s actually massive. For instance, in HP’s case, that share of revenue was $30 million, and when the company couldn’t use its ERP system, it lost over $120 million in order pileups and $40 million in revenue losses that quarter.

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CFO Dive

JUNE 14, 2023

EY’s planned split, announced in September, collapsed as the accounting giant continues to go through layoffs and other troubles culminating now in an early exit from their CEO.

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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.

Accounting

CFO News

JUNE 14, 2023

Launched in 2016, specialised fintech firm Rupyy appoints its first CFO Mayank Thatte as the company's focus is on innovation, financial excellence, and foster sustainable growth.

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CFO News

JUNE 14, 2023

​India’s exports (both merchandise and services) are expected to be worth $760 billion this fiscal, growing by nearly 90 percent over $676 billion in FY-22. The FTP will likely herald a new era of streamlined processes, robust infrastructure, and support for Small and Medium Enterprises (SMEs) to reinforce India's presence in the global exports market.

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Marketing 98

CFO Dive

JUNE 14, 2023

Before its next meeting in late July, the central bank plans to assess the impact from the most aggressive monetary tightening in four decades.

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Planning Banking 216

CFO News

JUNE 14, 2023

In the ongoing all-India drive, Centre and State GST officers have detected over 15,000 fake registrations and are initiating punitive action against the perpetrators. They are also trying to find out the mastermind who are the real beneficiaries.

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Nerd's Eye View

JUNE 14, 2023

One common sales tactic for financial advisors is to offer prospective clients a free (or low-cost) financial plan to demonstrate the advisor’s expertise and to let the prospect ‘test drive’ the advisor’s services. However, creating these pre-commitment strategies and plans can take up a significant amount of an advisor’s time and there is no guarantee that the prospect will actually decide to become a client (in which case the advisor’s work would have genera

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CFO News

JUNE 14, 2023

India’s national auditor plans to explore new areas, including shipping and underwater extraction industries, to produce greater audit reports as it adopts digitalisation and data standardisation. Comptroller and Auditor General of India Girish Chandra Murmu noted that using drones and satellites had become integral to the process. The CAG had held a seminar with respective departments and ministries in this regard, which agreed to some level of standardisation.

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Jedox Finance

JUNE 14, 2023

As macroeconomic factors continue to disrupt the market, finance teams face mounting pressure to proactively anticipate and prepare for potential events rather than reacting to events as they unfold. This future-ready approach involves evaluating multiple scenarios and making confident decisions that enable organizations to adapt and thrive in times of uncertainty.

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CFO News

JUNE 14, 2023

ITC, the Kolkata-based conglomerate, reported that consumers spent over ₹29,000 crore on its fast-moving consumer goods (FMCG) in the fiscal year 2022-23, indicating a growth rate of more than 20% year-on-year. The earnings before interest, tax, depreciation and amortisation (EBITDA) margin of the FMCG business increased to 10.2% from 9.1% in FY22, in spite of high commodity and input prices.

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Future CFO

JUNE 14, 2023

The talent war in Hong Kong has driven employers to target an “above market” benefits position to attract top talent. More than three-quarters of employers in Hong Kong see competition for talent as the number one business issue influencing their strategy in employee benefits in 2023, said WTW recently when releasing its 2023 Benefits Trends survey results.

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Benchmarking Planning Budgeting Finance 52

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.

Planning

CFO News

JUNE 14, 2023

Combined, the rate outlook and the projections are likely to lead investors to expect a resumption of quarter-percentage-point rate increases beginning at the next policy meeting in July.

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Barry Ritholtz

JUNE 14, 2023

My mid-week back from vacay morning reads: • Inflation Is Overhyped, Says This Pro. “I hear a lot of people say that we’re never going to fix it, that 7% is the new normal. That’s overhyped. There were multiple things that drove inflation up, but almost all of them are being corrected. The massive Covid-related stimulus was, in hindsight, possibly too much.

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CFO News

JUNE 14, 2023

Akasa Air wants to use the fund to make pre-delivery payments for its order of 72 Boeing 737 Max jets, for which 19 have already been delivered. The airline has reached a $650m valuation and may include existing investor, US-based hedge fund PAR Capital Management. The stake of the Jhunjhunwala family, which holds a 46% share in the airline through a trust, could be diluted due to the fundraising.

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Valuation 52

CFO News

JUNE 14, 2023

State-owned financial entities PNB, LIC, SBI, and BoB are said to be seeking formal bids for the sale of their 45% stake in UTI Asset Management Company (AMC). The quartet had previously appointed merchant bankers to initiate a sale process but the relationship with the Tata Group reportedly broke down due to a large interest holder insisting on a formal bidding process.

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Sales 52

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

Finance

CFO News

JUNE 14, 2023

The members further agreed to invest in capacity development on artificial intelligence within SAIs through targeted training in tools, technologies, and know-how for AI audits and auditing AI frameworks.

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Auditing Investments Technology 52

CFO News

JUNE 14, 2023

Walmart's Flipkart marketplace and PhonePe payments business in India could be $100 billion businesses buoyed by strong growth, the retailer's chief financial officer said on Wednesday at an investor conference.

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Retail 52

CFO News

JUNE 14, 2023

New Zealand is in recession after Q1 GDP shrank 0.1%, below the Reserve Bank of New Zealand's forecast of 0.3% growth. Fourth-quarter GDP was also revised to a contraction of 0.7%. The figures reduce the chances of interest rates rising further, but may hinder the incumbent government's re-election hopes. The economy was weakened across a broad range of industries and two cyclones and flash floods in Auckland did not help matters.

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CFO News

JUNE 14, 2023

People in the know said the CCI has challenged the NCLAT’s direction that held that for proving abuse of dominance under Section 4 of the Competition Act, the competition watchdog is required to do an “effect analysis” and “the test to be employed in the effect analysis is whether the abusive conduct is anticompetitive or not.

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Accounting

CFO News

JUNE 14, 2023

Addressing the 18th CII-EXIM Bank Conclave on India-Africa Growth Partnership, Paramasivan pointed out that there is a funding deficit to the tune of USD 60-160 billion on infrastructure development in Africa, and there is scope for further investment in multiple areas.

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Investments Banking 52

CFO News

JUNE 14, 2023

Crisil predicts that the growth in the aggregate GST collection for states will decrease to 12-14% in FY24 from 20% in FY23. Despite the moderation, GST collections will remain the leading driver of revenue growth for states. The resilience of the Indian economy, moderate inflation, and increasing tax compliance will contribute to the GST collections.

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Compliance 52

CFO News

JUNE 14, 2023

An analysis of quarterly foreign shareholding trends in the six Adani Group companies Adani Enterprises, Adani Total Gas, Adani Transmission, Adani Green, Adani Ports, and Adani Power shows a rise in the numbers of FPIs from the September quarter of 2020.

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Numbers 52

CFO News

JUNE 14, 2023

The stake the Swiss insurer wants to secure will be worth around $400 million. Kotak is still evaluating offers, including from other investors, but it prefers retaining "control of the company" after the stake sale, the first source said.

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Securities Sales 52

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