Wed.Aug 21, 2024

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How to Properly Structure Your SaaS Accounting Foundation

The SaaS CFO

The Software as a Service (SaaS) business model revolutionized the on-premise software industry. I started out in software in 2004. One-time software sales and annual maintenance at 18% of the perpetual license. We weren’t talking CAC Payback and Gross Revenue Retention. But we were talking gross margins and margins by revenue stream. SaaS introduced a […] The post How to Properly Structure Your SaaS Accounting Foundation appeared first on The SaaS CFO.

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SEC approves tougher rules targeting auditor ‘negligence’

CFO Dive

Two out of the agency’s five commissioners voted against the stricter standards, warning that they may hinder efforts to expand the ranks of auditors.

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Utilizing Swap Powers In Irrevocable Trusts To Add Flexibility And Income Tax Efficiency

Nerd's Eye View

Irrevocable trusts lie at the heart of a variety of estate planning strategies, as gifts to irrevocable trusts can allow for the transfer of assets outside of an owner’s estate for estate tax purposes with more structure than an outright gift. The downside, however, is that irrevocable trusts are "irrevocable" and can't easily be undone; in moving assets to the trust, the original owner gives up their authority over the assets, with the trustee taking over the management and distribution o

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Marqeta CFO eyes fintech ‘winners’ following mixed earnings

CFO Dive

With the fintech sector maturing, the card issuing platform is turning its attention to capitalizing on rising opportunities in the space, CFO Mike Milotich said.

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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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How AI and workflow expand the boundaries of digital business partnering and finance team value creation

Jedox Finance

Effective communication and collaboration are no longer just nice-to-have — they are essential for driving success. The Office of Finance is at the heart of every organization, overseeing financial strategy, risk management, and operational efficiency. Often it is a challenge for finance teams to align with stakeholders across business units, departments, and time zones.

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Fast Track Subscription Billing & Revenue Reporting in SAP Cloud Public Edition

Bramasol

The proliferation of subscription-based, recurring revenue offerings in the Digital Solutions Economy (DSE) presents both opportunities and challenges. In the customer driven DSE model, companies need to adapt their processes to meet a dynamically changing range of customer needs, while also assuring robust backend processing with integrated revenue compliance.

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FTC exceeded its authority with noncompete ban, judge says

CFO Dive

The agency’s rulemaking under Sec 6(g) of the FTC Act is procedural, not substantive, Judge Ada Brown of Texas federal court says, blocking a nationwide rule that would have taken effect shortly.

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ATM: Aswath Damodaran on the LifeCycles of Companies

Barry Ritholtz

At The Money: At the Money: Learning Lifecycles of Companies. (August 21, 2024) The Magnificent Seven, the Nifty Fifty, FAANG: Each of these were popular groups of companies investors erroneously believed they could “Set & Forget,” put them away forever, and you’re set for life. But as history informs us, the list of once-great companies that dominated their eras and then declined is long.

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How Fundraisers and Accountants can Better Communicate

The Charity CFO

The relationship between fundraisers and accountants in a nonprofit organization can be challenging. Fundraising and accounting departments provide vital services to the organization, but when they fail to communicate, it can lead to financial errors. Bridging this communication gap can help your organization ensure every dollar raised is used effectively.

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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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Anticipating Financial Challenges: Strategic Measures for Corporate Finance

CFO Talks

Anticipating Financial Challenges: Strategic Measures for Corporate Finance As a CFO in South Africa or elsewhere in Africa, you’re no stranger to the financial hurdles that come your way. Economic shifts, new regulations, and technological changes constantly test your ability to keep your company financially stable. But what if you could not only anticipate these challenges but turn them into opportunities for growth?

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Indian IT sees CFO churn; some join rivals

CFO News

The Indian IT sector experienced rapid CFO changes in under a year, with notable executives moving to rival firms. Wipro sought Rs 25 crore from ex-CFO Jatin Dalal for joining Cognizant but settled for Rs 4 crore. Other major shifts include new CFOs at LTIMindtree, Persistent Systems, and HCLTech. Regulations for CFO appointments remain minimal in India.

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Navigating IFRS, Key Updates and Changes

CFO Talks

Navigating IFRS , Key Updates and Changes Introduction In today’s fast-paced financial world, staying up to date with the latest International Financial Reporting Standards (IFRS) is critical for CFOs. As the financial leaders of organizations, CFOs in South Africa and across Africa need to ensure their accounting practices align with global standards.

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Inflation must slow to 4% for rate cut: RBI Governor Shaktikanta Das

CFO News

Reserve Bank of India Governor Shaktikanta Das stated that inflation should settle near the 4% target sustainably before any rate cut can be considered. Although July saw a dip, inflation is expected to rise again from September. Current policy aims at price stability, economic growth, and reforms in various sectors.

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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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Q&A: Ex-St. Louis Fed Chief Bullard On Rate Cuts, Global Economic Tensions

Global Finance

James Bullard, the former president of the Federal Reserve Bank of St. Louis from 2008-2023 and a former member of the Federal Open Market Committee, was named the dean of the Mitchell E. Daniels, Jr., School of Business at Purdue University in July 2023. Bullard talked with Global Finance magazine recently about a wide range of issues. The interview was edited for length and clarity.

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18% GST on insurance a barrier, negatively impacts Indians’ affordability: HDFC ERGO’s Parthanil Ghosh

CFO News

The insurance companies determine the gross premiums that are applicable basis the expected cost of claims and associated expenses. These premiums are loaded for the applicable GST. Thus, an insurance policy with a premium of Rs 15,000 will have an additional cost of Rs 2,700 (Rs 15,000*18 per cent). The input tax credit availed by an insurance company against the services procured ensures that these costs are not passed on to the policyholders.

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FM Nirmala Sitharaman urges income tax department to simplify tax notices and avoid 'threatening tone'

CFO News

During the 165th Income Tax day celebration, Finance Minister Nirmala Sitharaman encouraged the Income Tax department to foster a fair and friendly reputation among taxpayers. She highlighted the importance of simplifying the language used in tax notices to ensure they are easily understood by the public. Sitharaman also congratulated Indian taxpayers on their achievements.

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IndiGo to challenge penalties related to input tax credit issue

CFO News

IndiGo decided to challenge two penalties amounting to Rs 3,50,299 over input tax credit disputes. A Rs 1,77,046 penalty from Odisha for FY 2017-18 was upheld, and the airline is set to appeal it at the tribunal. Additionally, a Rs 1,73,253 penalty in Kerala will also be contested.

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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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Review of Income Tax Act will be completed in given timeframe: CBDT Chairman

CFO News

The work, though challenging, was transformative and "we have taken the assignment in a mission mode", the Central Board of Direct Taxes (CBDT) chief said.

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Inter-ministerial group to draw up MSME scheme

CFO News

Finance minister Nirmala Sitharaman had announced an MSME package in the budget that included a credit guarantee scheme to cover loans of up to Rs 100 crore by MSMEs for purchasing machinery and a guarantee fund for 'stressed MSMEs' or MSMEs in the 'special mention account' to prevent them from becoming non-performing assets (NPAs).

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52% of MSME B2B payments overdue for 90+ days in major Indian cities: Recordent survey

CFO News

As per the report, Mumbai demonstrated a much better payment behaviour with 29% of payments overdue for more than 90 days.

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CCI nod sought for merger of Tata Motors Finance with Tata Capital

CFO News

Tata Capital Ltd has applied to the Competition Commission of India for approval to merge with Tata Motors Finance Ltd. The merger, approved by both companies' boards in June, will see Tata Capital issuing equity shares to TMFL shareholders, resulting in Tata Motors holding a 4.7% stake. The move aligns with Tata Motors' focus on emerging technologies.

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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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Premji invest, Ranjan Pai team looks to board Akasa Air

CFO News

Premji Invest and Claypond Capital are in discussions to invest approximately $125 million for a significant minority stake in Akasa Air, valuing the airline at over $350 million. This investment demonstrates confidence in Indian carriers, historically struggling to attract interest. The funds will support expansion and aircraft pre-delivery payments, diluting the Jhunjhunwala family and CEO Vinay Dube's stake.

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Success of Paytm biz acquisition hinges on effective customer transition, team integration: Zomato CEO

CFO News

Zomato's purchase of Paytm's events and movie ticketing division hinges on effective customer transition and team integration, as noted by CEO Deepinder Goyal. The Rs 2,048 crore deal includes onboarding 280 employees. Initial operations will remain on separate apps, later merging into a new app, District, aimed at consolidating dining and event services.

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Forbidden no more: India begins OKing Chinese proposals

CFO News

Prominent names that have recently got approval include Chinese electronics major Luxshare, which is also a vendor for Apple, and a joint venture (JV) between Bhagwati Products (Micromax) and Huaqin Technology, in which the Chinese company will own a minority stake. Other proposals cleared include some Taiwan-based firms listed in Hong Kong or having investments from there.

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MEITY's Common Service Centre brings Fortinet to beef up cybersecurity for rural India

CFO News

Fortinet and CSC SPV are teaming up to enhance cybersecurity for rural India's e-governance services, boosting protections and training for broadband-enabled Common Service Centres, supported by MEITY. ETCFO brings you the details of what this MoU signifies. Read here.

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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.