Sun.Apr 23, 2023

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Bed Bath & Beyond CFO ties bankruptcy to e-commerce ‘reluctance’

CFO Dive

Restructuring expert Holly Etlin, named Bed Bath & Beyond’s interim finance chief in February, stepped into the roles of CFO and chief restructuring officer Saturday.

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10 Sunday Reads

Barry Ritholtz

Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures: • My High-Flying Life as a Corporate Spy Who Lied His Way to the Top : I was just looking to make rent when I stumbled into a part-time gig stealing secrets from Wall Street elite. I made millions once I realized how desperate we humans are for someone who will actually listen. ( Narratively ) • How a Brazen Plot to Rig Oil Auctions Cost Venezuela Billions : America’s best-known lawyer, a couple of fraudste

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CFOLens: ChatGPT and how this tool impacts finance function?

CFO News

There is a lot of interest generated amongst executives across companies when we speak of ChatGPT. In this article Sanjeev Jha, CFO- India, Persolkelly India shares that one of the leading CFO organisations conducted a survey for CFOs – ‘Will ChatGPT affect the financial function in any way’ - 65% voted ‘Yes’, 25% voted ‘Let’s See’ and only 10% voted ‘No’.

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vcfo Denver Team welcomes Jonathon Rapacki, Consulting CFO

VCFO

Jonathon Rapacki is a finance executive with a track record of success across diverse industries, including oil and gas, mining, financial services, private equity, venture capital, and retail. He has a history of improving operations and investor and bank relations through strategic business planning, internal controls, and productivity improvements.

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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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World Economic Outlook: April 2023

Future CFO

The IMF forecasts global growth to fall from last year’s 3.4% to 2.8% in 2023 before rising to 3% in 2024. The global economy’s gradual recovery from the pandemic and from Russia’s invasion of Ukraine remains on track but remains fragile. The post World Economic Outlook: April 2023 appeared first on FutureCFO.

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Economic confidence rises: Fears fade over 2023 recession

Future CFO

Economic confidence rises as clear signs of business improvement emerge, said ACCA recently. While the accountancy body’s Q1 2023 Global Economic Conditions Survey (GECS) shows confidence lower than a year ago, it rose for the third consecutive quarter as fears fade over the prospects of a recession in 2023. This better news is underlined by the two GECS “Fear’’ indices which reflects respondents concerns that customers and/or suppliers may go out of business, ACCA noted.

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NFRA imposes fine, debars auditors for 3 yrs for professional misconduct, other lapses in audit of SRS Ltd

CFO News

An investigation by SFIO had revealed that the company and its group companies had presented financial statements containing false statements of debtors and indulged in the malpractice of round-tripping and layering of transactions resulting in inflated purchases and sales.

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Looming debt crisis is already roiling Treasury bill market

Tips Watch

The 4-week Treasury yield is sending a message of fear. By David Enna, Tipswatch.

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Adani group plans $650-m foreign currency bond buyback at APSEZ

CFO News

Adani Group is planning to use internal accruals to buy back foreign currency bonds, starting with a $650m tranche at Adani Ports and Special Economic Zone. The conglomerate is also evaluating bond buyback opportunities at other entities and is due to finalise a capital allocation plan. It is estimated that foreign currency bonds represent 39% of the group's total debt.

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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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The best technology for sales planning and operations forecasting

Spreadym

Enterprise software solutions for planning and financial analysis and corporate consolidation typically require robust and scalable technologies to ensure optimal performance and reliability. Some of the technologies commonly used for such solutions include: Relational Database Management Systems (RDBMS): business management software often runs on RDBMS such as Oracle, Microsoft SQL Server, and IBM DB2 to store and manage large amounts of structured data.

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Wipro board to consider buyback on Thursday

CFO News

The company will also announce its fourth quarter and full-year results on April 27. The outcome of the board meeting will be communicated to the stock exchanges soon after the conclusion of the meeting on Thursday April 27. On Friday, Wipro's share prices closed at ₹368, up 1.5%.

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HZL expects production costs to reduce in FY24

CFO News

Fixing contracts in a manner which will help reduce rates in mining, and the usage of digital projects which can give realtime feedback to control consumption to make operations more efficient will be the other enablers.

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Clamping down on Ponzi schemes like never before: FM Sitharaman

CFO News

A Ponzi scheme is one where old investors are paid returns with money deposited by new investors. The new entrants may not get any returns and, in some cases, they may lose the money they invested. In India, Ponzi schemes are banned under the Banning of Unregulated Deposit Schemes Act, 2019.

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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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World is looking at India; grasp this opportunity to grow exports: Piyush Goyal urges industries

CFO News

"The industry's talent is spread across every zone and this industry can generate lots of jobs commensurate with the talent. The future is bright but we seek a collective commitment from every exporter to contribute to increasing exports despite headwinds and challenges," said the minister.

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Govt to announce national retail trade policy, accident insurance scheme for GST-registered traders soon

CFO News

The government is likely to announce a national retail trade policy and an accident insurance scheme for GST-registered domestic traders soon, reported PTI, citing an official. ​The policy is aimed at providing better infrastructure and more credit to the traders.

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SBI report refutes Viral Acharya claim that corporates with high market share are pushing up prices

CFO News

According to a report by Soumya Kanti Ghosh, SBI group chief economist, although a few large players dominate market share in many industries, they are not the cause of high inflation.

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Reliance Retail enters into joint venture for toy manufacturing with Haryana-based firm

CFO News

The brand currently owns iconic British toy brand Hamleys and home-grown toy brand Rowan. Reliance Retail has entered into a joint venture with Sonipat, Haryana-based Circle E Retail to vertically integrate its toy business.

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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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GST evasion: Taxmen using data analytics to identify 'missing link' in supply chain

CFO News

The modus operandi adopted by fraudsters included short payment of tax by undervaluing taxable goods and services, wrong availment of exemption notifications, wrong availment of the input tax credit, non-payment of tax on supply of taxable goods and services (clandestine removal), and fraudulent availment of the input tax credit on the basis of invoices from fake cos.

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CFOLens: ChatGPT and how this tool impacts finance function?

CFO News

There is a lot of interest generated amongst executives across companies when we speak of ChatGPT. In this article Sanjeev Jha, CFO- India, Persolkelly India shares that one of the leading CFO organisations conducted a survey for CFOs – ‘Will ChatGPT affect the financial function in any way’ - 65% voted ‘Yes’, 25% voted ‘Let’s See’ and only 10% voted ‘No’.

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Brookfield expands green footprint, buys 51% stake in CleanMax Enviro

CFO News

This will be Brookfield's second renewable deal in as many months, having agreeing to invest $1 billion in serial Avaada Ventures, run by serial entrepreneur Vineet Mittal.

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Regulating crypto without global consensus will not be effective: FM

CFO News

The Minister, however, said it does not mean controlling of 'distributed ledger technology', which has its goodness and potential.

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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 charts: Big three Indian IT companies get set for tough FY24

CFO News

​​HCLTech’s revenue growth too was near the lower end of its guided range of 13.5-14.5%.

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