Tue.Aug 15, 2023

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Bankruptcy ‘burn rates’ drive some firms to file Chapter 7s: ABI’s Ward

CFO Dive

Professional fees racked up in Chapter 11 bankruptcies can range from a few hundred thousand dollars to the tens of millions, Chris Ward, president-elect of the American Bankruptcy Institute, said.

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#FA Success Ep 346: Moving Procrastinating Clients To “Yes” Instead Of Selling As A Fee-Only Advisor, With Jim Ludwick

Nerd's Eye View

Welcome back to the 346th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Jim Ludwick. Jim is the founder of MainStreet Financial Planning, an hourly, fee-only financial planning firm, and also created Procrastination Junction, a coaching program for fee-only financial advisors looking to improve their sales skills.

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Trending Sources

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‘Be the glue,’ Cologix CFO tells finance chiefs facing turbulent times

CFO Dive

Cologix’s Rachel Stack highlights the importance of a strong leadership team, and how finance chiefs can work to hold that team together.

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RBL Bank appoints Buvanesh Tharashankar as Head of Finance

CFO News

Tharashankar shall be considered for the position of Chief Financial Officer (CFO) and key managerial personnel of the bank, the exchange filing said.

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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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U.S. Chamber urges SEC to delay cyber rule implementation

CFO Dive

The SEC has “chosen speed over accuracy” while ignoring important business community concerns in pushing out the new regulations, the U.S. Chamber of Commerce asserts.

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More Trending

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Retail sales rise, riding wage gains, strong job market

CFO Dive

Surging borrowing costs and declining pandemic-era savings have not triggered a downturn in retail spending.

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Claims worth Rs 27,328 crore against Vi, erstwhile Voda entities in India under litigation

CFO News

The pending litigations include a Rs 3,857 crore demand – the highest – raised by the Department of Telecommunications (DoT) on erstwhile Vodafone entities for transfer and merger of licences in India. The second-highest claim of Rs 3,599 crore relates to a one-time spectrum charge (OTSC), also raised by the DoT.

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Hong Kong employees prefer working in local firms: Survey

Future CFO

Hong Kong employees prefer working in local firms and particularly in the energy and environmental sector, said Randstad recently. Out of the 10 industries in the voting, the energy and environmental sector was ranked top with 54 points out of a maximum of 100, making it the most attractive sector to work for in Hong Kong, the recruitment agency noted.

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View: Indian tycoons Ambani and Adani won't step on each other's toes

CFO News

Indian billionaire Gautam Adani is recasting his conglomerate and focusing on core infrastructure business, instead of engaging in direct competition with his biggest rival Mukesh Ambani. Adani, who is grappling with governance issues and allegations of manipulation and undisclosed transactions, has sold his consumer finance franchise to Bain Capital, and reportedly exploring the sale of his $2.6bn stake in Adani Wilmar.

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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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“Big Short” Investor Bets on a Crash

The Reformed Broker

Join Downtown Josh Brown and Michael Batnick for another round of What Are Your Thoughts? On this week’s episode, Josh and Michael discuss the biggest topics in investing and finance, including: ►Retail Earnings – Consumers are still spending. ►Stock Picker’s Delight – Sector correlation and valuation disparities are providing value opportunities.

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Money e-gaming companies face Rs 45,000 crore tax demand

CFO News

Online money gaming companies in India may have to pay about ₹45,000 crore ($6 billion) in additional taxes as they may have paid only 18% on gross gaming revenue, being games of skill, instead of the 28% prescribed in law since the rollout of the GST in 2017. According to officials from the Directorate General of GST Intelligence (DGGI), the gaming industry paid ₹45,000 crore less tax and could owe about ₹50,000 crore.

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Clips From Today’s Halftime Report

The Reformed Broker

China’s stimulus actions are not enough, says Ritholtz Wealth’s Josh Brown from CNBC Bank of America downgrades Valero and four other refiners from CNBC Final Trades: Fortinet & Marriot from CNBC

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CSR spending goes greener; health gets highest dose as companies rejig focus

CFO News

In FY22, India's corporate social responsibility (CSR) spending on the environment more than doubled to ₹2,837 crore, which made the sector the biggest recipient of such funds after health and education, according to the latest provisional data by the Ministry of Corporate Affairs. Spending on health in FY22 stood at ₹9,987 crore, beating education as the top sector for CSR expenditure.

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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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The Complete Guide to Nonprofit Accounting Careers

The Charity CFO

The nonprofit sector is full of rewarding and impactful careers because it plays a crucial role in addressing various social, environmental, and humanitarian challenges. In this mission-driven landscape, nonprofit accounting jobs hold a significant role as they serve as the financial backbone that ensures organizations remain: Transparent Compliant Efficient in their operations They go beyond traditional finance roles, as nonprofit accountants are required to: Understand the intricacies of nonpr

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Top Indian companies have very few people with disabilities on rolls

CFO News

According to latest workforce data reported by Nifty 50 constituent companies as part of their annual disclosures, only five out of these 50 companies have more than 1% people with disabilities on their rolls, with four of them being public sector companies. To be sure, public sector companies are required to reserve 4% of all jobs for disabled people in compliance with the Rights of Persons with Disabilities Act, 2016 - a target which all the analyzed companies fall short of.

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The Transformative Role of FP&A Consultants in Shaping Business Success

E78 Partners

In the dynamic landscape of modern business, Financial Planning and Analysis (FP&A) has evolved from a conventional accounting function to a strategic partner that steers organizations towards growth, profitability, and free cash flow. At the heart of this transformation lies the expertise of FP&A consultants, who wield their skills as a trusted advisor to add substantial long-term value to businesses.

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Fitch warns it may downgrade many US banks, including JPMorgan

CFO News

Fitch Ratings has warned that US banks, including JPMorgan Chase, could be downgraded if the agency further cuts its assessment of the operating environment for the industry. If Fitch were to lower its score to A+ from AA-, it would be forced to re-evaluate ratings on more than 70 US banks. This news follows Moody's downgrading 10 mid-sized US banks earlier this month and warning that it may cut ratings of several others.

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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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Guide to Creating a Stress-Free Budget for Your Business

Spreadym

A stress-free budget is a financial plan that is designed and managed in a way that minimizes anxiety, worry, and tension associated with managing money and expenses. It focuses on creating a balanced and organized approach to personal finance, allowing individuals to effectively manage their income and expenditures without feeling overwhelmed or stressed.

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Gangwal family to sell a portion of IndiGo's stake worth $450 million via block deal on Wednesday

CFO News

Indigo Airlines' promoters, the Gangwal family, are selling $450 million worth of shares in a block deal through bankers Morgan Stanley, JPMorgan, and Goldman Sachs. The family is offering 5.6% of its shares at a floor price of INR 2,400 ($32.27) per share. Indigo had a net profit of INR 3,090 crore ($414.98 million) in Q1, with a revenue of INR 17,160 crore ($2.30 billion).

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Achieving Your Total Addressable Market (TAM) | Rob Goldenberg, CFO, 6sense

CFO Thought Leader

CFO GUEST: Rob Goldenberg, CFO, 6sense 924: When AI is Business as Usual | Rob Goldenberg, CFO, 6sense MADE POSSIBLE BY LEDGE | Ledge is a command center for payments built for finance teams operating at scale. Ledge empowers finance teams with tools to centralize their payments data, get a real-time payments snapshot, automate multi-way reconciliation, identify problem transactions, accelerate their investigations, and dramatically lower the risk of losses, all without any engineering support.

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Imposing ICRR may prompt banks to raise deposit rates

CFO News

In his latest monetary policy statement, governor Shaktikanta Das imposed a temporary incremental cash reserve ratio (I-CRR) of 10% on incremental deposits received between 19th May and 28th July 2023 given the surge in surplus liquidity in the system.

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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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In Search of Safe Havens: The Trust Deficit and Risk-free Investments!

Musings on Markets

In every introductory finance class, you begin with the notion of a risk-free investment, and the rate on that investment becomes the base on which you build, to get to expected returns on risky assets and investments. In fact, the standard practice that most analysts and investors follow to estimate the risk free rate is to use the government bond rate, with the only variants being whether they use a short term or a long term rate.

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India's per capita income to rise 7.5-times by FY47: SBI Research

CFO News

India’s per capita income is set to increase 7.5 times to Rs 14.9 lakh per annum by FY47 from Rs 2 lakh ($2,500) in FY23, according to the latest study published by SBI Research. Between FY11 and FY22, 13.6% of people moved from the lowest income strata of below Rs 5 lakh, with 8.1% added to the Rs 5-10 lakh group and 3.8% in Rs 10-20 lakh bracket.

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Transcript: Ted Seides

Barry Ritholtz

 The transcript from this week’s, MiB: Ted Seides, Capital Allocators , is below. You can stream and download our full conversation, including any podcast extras, on iTunes , Spotify , Stitcher , Google , YouTube , and Bloomberg. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~ ANNOUNCER: This is Masters in Business with Barry Ritholtz on Bloomberg Radio.

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Subhash Chandra, Punit Goenka can't hold director position in group cos: Sebi

CFO News

The Zee stock has climbed more than 13% in the past five trading sessions after the NCLT approved its merger with Sony. The bulk of the recent gains at Zee, which has a market capitalization in excess of ₹26,000 crore, is attributed to investor optimism that regulators would approve the merger.

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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.