Fri.May 19, 2023

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Recession likely to start in Q3 as Fed sustains inflation fight: Fannie Mae

CFO Dive

The Fed may keep borrowing costs high and trigger a downturn if robust wage gains persist in coming months, Fannie Mae said.

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FDA and GxP Validation for SAP Business ByDesign ERP

Navigator SAP

Following good manufacturing practice (GMP) guidelines help businesses run more efficiently and ensure that product quality and consistency are maintained. Life sciences businesses such as pharmaceutical makers and medical device manufacturers not only benefit from GMP adherence but they also are required to follow it according to FDA regulations. The processes that life sciences businesses follow must be validated in line with FDA regulations 21 CFR.

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Trending Sources

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Walmart to invest in supply chain as it outshines big-box rivals

CFO Dive

Walmart attracted budget-conscious customers, but inflation persists as one of its strongest headwinds.

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10 Bad Takes On This Market

Barry Ritholtz

Let’s see if I can find something to counter and/or undercut each of these 10 items listed in this morning’s tweet above: 1. Only 5 stocks driving markets?! Then why are Equal-weighted indices doing so well? Equal-weighted Nasdaq100 up 17% since the June lows for the market because “it’s only 5 stocks”? How bad at math do you need to be to think that it’s only 5 stocks driving this market?

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Why Tech-Forward Tax and Accounting Firms Have the Inside Track to the Future

Speaker: Joe Wroblewski, Sales Engineer Manager

Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te

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Why CFOs must beef up their CX playbooks

CFO Dive

The B2B market is facing a new generation of decision makers who are accustomed to speedy digital customer experiences, Bob Purcell writes.

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More Trending

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Foot Locker taps Kohl’s exec for CFO

CFO Dive

Kohl’s alum Michael Baughn will move into Foot Locker’s CFO role as the sneaker retailer reported slumping sales and lowered 2023 guidance.

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Weekend Reading For Financial Planners (May 20-21)

Nerd's Eye View

Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news of a recent survey indicating that investors overwhelmingly believe that Artificial Intelligence (AI) will help financial advisors better serve their clients and would like to work with an advisor who leverages AI tools.

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Apple restricts ChatGPT, GitHub Copilot use over data worries: report

CFO Dive

The company limited use of the AI tools for some employees amid concerns over confidential data, the Wall Street Journal reported Friday.

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Come meet us in Austin, Texas this June!

The Reformed Broker

RWM is coming to Austin, TX June 12th-14th @Downtown with more detailsEmail us at info@ritholtzwealth.com subject line “Austin” to reserve a meeting slot! pic.twitter.com/9iSdG4HFf3 — Ritholtz Wealth (@RitholtzWealth) May 19, 2023 Why did we open an office in Austin, Texas? Is it because the city is expected to add another 1.5 million residents by 2040, giving it a population of 4 million?

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Live Demo - Supercharge your Month End Close

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

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R&D Tax Credit Qualification for Businesses

VCFO

The R&D Tax Credit – Does Your Business Qualify? Businesses never want to leave money on the table. But when it comes to the R&D Tax Credit, some unknowingly do just that. These oversights often stem from confusion about the rules that govern the R&D Tax Credit or a belief that the credit is not applicable to one’s operating activities for one reason or another.

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Where is the Crash?

The Reformed Broker

Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Morgan Housel, Chris Davis, and Downtown Josh Brown discuss the big wave of AI coming, the most important chart in the stock market, SVB insiders facing scrutiny, the worst startup investment ever, 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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Rs 2,000 notes to be withdrawn from circulation, to continue as legal tender till September 30

CFO News

"No instructions have been given to banks for not filling Rs 2,000 notes in ATMs. Banks make their own assessment of amount and denominational requirement for ATMs on the basis of past usage, consumer requirement, seasonal trend, etc," FM Sitharaman had said in March.

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What to choose: "top-down" vs. "bottom-up" approaches in budgeting

Spreadym

In the context of budgeting, the terms "top-down" and "bottom-up" refer to two different approaches or methods used to develop a budget. If you are interested in what budgeting approach will be the best for your company, it may depend on the structure of organization, the industry your company operates and your strategic vision of how your business should grow.

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Mid-Year Review: How to Ignite Employee Potential Through Meaningful Feedback

Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.

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No TCS on debit card, credit card forex payments of up to Rs 7 lakh from July 1, 2023: Govt

CFO News

The Ministry of Finance on Friday, May 19, clarified that no TCS will be levied on individual payments using international debit and credit cards of up to Rs 7 lakh in a financial year from July 1, 2023.

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Tips for cash management for a nonprofit organization

The Charity CFO

Cash management for a nonprofit organization is possibly the most important consideration for success. In a previous article, we discussed the benefits, risks, and compliance requirements of outsourcing bookkeeping for nonprofit organizations. In this article, we will build upon that knowledge and delve more specifically into the topic of cash management.

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Fractional ownership of holiday homes to pick up after Sebi intervention: Experts

CFO News

Fractional ownership of holiday homes has emerged as a preferred choice of consumers seeking to purchase a second home.

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Welcome Drew Ward

Focus CFO

We are pleased to announce that Drew Ward has joined the FocusCFO team in Greater Dayton. Drew is a highly adaptable, hands-on finance leader with 35 years of experience helping business leaders make key decisions. He has extensive experience building analytic frameworks, including mission critical financial models. Drew has performed analytics of all kinds including cash flow, margin improvement, forecasting, short- and long-term planning, investments, client contracts, consolidations, acquisit

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Your Accounting Expertise Will Only Get You So Far: What Really Matters

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. If you’re aiming for the summit, the air gets thinner—and what got you here won’t be enough to get you to the top (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level.

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Corporates must take lead in ensuring net-zero: BCG Turkey Chairman

CFO News

Placing the emphasis on corporations to achieve their Net zero goals before the governments, Tansan, said that it was critical in emerging economies for companies “to make sure that they own the commitment as a whole and push the government's to move in that direction.

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ION’s Fidessa Surveillance named Best Solution for Records Retention at RegTech Insight Europe Awards

Reval

London, 19 May 2023: ION, a global leader in mission-critical trading and workflow. The post ION’s Fidessa Surveillance named Best Solution for Records Retention at RegTech Insight Europe Awards appeared first on ION.

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Suzuki Motorcycle India halts operations due to cyberattack

CFO News

Manufacturing was reportedly halted since May 10, and it is estimated that since then the company lost production of over 20,000 vehicles. The company has not revealed the origin of the attack or when it will resume production.

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10 Friday AM Reads

Barry Ritholtz

My end-of-week morning train WFH reads: • Will AI Fix Work? The pace of work is outpacing our ability to keep up. AI is poised to create a whole new way of working. ( Microsoft ) • Why Are Americans So Negative About the Economy? There are now huge gaps between what people say about the economy and both what the data says and what they say about their own experience.

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.

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RBI to transfer Rs 87,416 cr surplus to govt for FY23, up from ?30,307 cr a year earlier

CFO News

The Reserve Bank of India will transfer a surplus of ₹87,416 crore to the government for the 2022-23 accounting year, up from ₹30,307 crore in 2021-2022. The higher payout was driven by increased earnings on forex sales throughout the year, higher interest income due to lending through various windows as the benchmark repo rate climbed, and recommendations from the Bimal Jalan committee.

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Short-termism in European corporate governance

Corporate Finance Lab

Conference organized by University of Antwerp, Harvard Law School and ECGI on 30 May Short-termist behavior by corporations is often seen as a large societal problem. For example, Joe Biden wrote in a 2016 op-ed for the Wall Street Journal: “ Short-termism […] is one of the greatest threats to America’s enduring prosperity”. However, the debate on short-termism has so far largely focused on possible short-termism in the US and the UK).

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Climate change: A fast-growing India has the world’s fate in its hands

CFO News

India is changing its approach to climate diplomacy; once aloof from international climate debates, India has taken a leadership role with green development, climate finance, and sustainable lifestyles its priority in its G20 presidency this year. With India's emissions likely the third-largest in the world after China and the US and soon-to-be third-largest national economy, India can no longer afford to stand aloof from climate debates.

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JSW Steel gets board approval to raise up to ?18,000 crore

CFO News

The company will raise up to $1 billion (₹8,276 crore) through the issue of non-convertible, senior unsecured fixed rate bonds, in one or more tranches, the company said in a regulatory filing on Friday.

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Doing More With Less: The Modern Finance Miracle

Speaker: Mark Gilham, FCCA, CPP

Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.