Sun.Jan 08, 2023

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The Twitter Files: Lenin Would Be Proud

CFO News Room

“ The vast majority of commercial and industrial establishments are now working not for the free market but for the government.” V.I. Lenin, State and Revolution; 1917. This Lenin quote leapt to mind amid the recent revelations coming from the “Twitter files” and exposed over the past several weeks. Among other disclosures, the files revealed direct lines of communication between government agencies, including the FBI and Department of Defense, and the social media company. .

Economics 130
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Joint audit is a good idea, will try finishing Byju’s probe at the earliest: ICAI President

CFO News

Joint audit should be made applicable for public interest entities. There should be greater scrutiny for such companies, says Debashis Mitra.

Auditing 104
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Trending Sources

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World Wrestling Entertainment, Bed Bath & Beyond, Tesla, Costco

CFO News Room

Chief Brand Officer and TV Personality of WWE, Stephanie McMahon delivers her keynote address at the opening of Sports Matters in conjunction with All That Matters 2016 in Singapore on September 14, 2016. Roslan Rahman | AFP | Getty Images. Check out the companies making headlines in premarket trading. World Wrestling Entertainment — Shares advanced 9.7% after Vince McMahon elected himself executive chairman of the company despite retiring last year due to a sexual misconduct scandal.

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How India Inc CFOs will spend on IT in 2023

CFO News

Finance heads will continue to increase their spending in key segments of information technology next year as digitalisation stays a strong investment theme for the Indian industry.

Finance 98
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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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CFOs: Top nine workplace predictions you must address

Future CFO

There are top nine workplace predictions that business leaders must address in 2023 and beyond to successfully navigate today’s labor market and continue to drive business outcomes, said Gartner recently. According to the advisory firm, the top nine workplace predictions are as follows. “Quiet hiring” will create new avenues to snag in-demand talent Despite worries about a forthcoming recession and some layoff announcements, Gartner benchmarking data shows that a majority of HR leaders still exp

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DIY Automation Quick Study Video 4: Low code / no code tools for automation

Future CFO

A continuing challenge for FP&A is getting our data in in the right place and in the right format so that we can work on it! Erik DeMar shares an example of how low-code/no-code tools can help you to link data sources and uses, and more. The post DIY Automation Quick Study Video 4: Low code / no code tools for automation appeared first on FutureCFO.

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In 2023, CFOs must connect math to mood and facts to feelings: Kailash Varodia, RXIL

CFO News

CFOs must display agility, resilience, curiosity, imagination, people-centricity and a transformative mindset as well as heart, says the veteran finance honcho.

Math 52
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TIPS funds vs. TIPS ladder: An investor weighs in

Tips Watch

By David Enna, Tipswatch.com A lot of readers ask about the ladder of TIPS investments I have built over the years.

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Ease of doing business is not just Centre's responsibility alone, says FM Nirmala Sitharaman

CFO News

Finance minister, who was speaking at an event in Kota, had a word of advice for aspiring entrepreneurs. She said they should be ready to take risks and at the same time not shy away from closing down if the venture is not working.

Finance 52
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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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Links 1/8/2023 | naked capitalism

CFO News Room

Pigeon caught in Canadian prison yard with drugs Anadolu. What’s next for quantum computing MIT Technology Review. Philosophy’s blindspot Aeon. Climate/Environment. The world’s torrid future is etched in the crippled kidneys of Nepali workers Washington Post. Authorities working to determine source of oil slick off Santa Barbara coast LA Times. Corrected ozone data estimate fracking and drilling produce more emissions than every Front Range vehicle CPR News.

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RBI may hike rates in 2023, but bank deposit rates have peaked, say experts

CFO News

To be sure, deposit and lending rates in real terms are much lower than pre-pandemic levels, according to the Reserve Bank of India’s (RBI) monetary policy committee member Rajiv Ranjan.

Banking 52
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Where Is Tech Going in 2023?

CFO News Room

Looking ahead is always a tricky business. While the turn of the year presents an opportunity to take a fresh look at your strategy and plan where to focus your energies, it can be hard to sort real trends from hype. This is especially true when it comes to tech. Think about this time last year, and the excitement around NFTs, crypto, and the metaverse.

Budgeting 130
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Customs duty on 35 items may be hiked in Budget

CFO News

Private jets, helicopters, high-end electronic items, plastic goods, jewellery, high-gloss paper and vitamins are among items that are on the list prepared by the government.

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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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1994 Porsche 911 Turbo S 3.6

Barry Ritholtz

This is about as nice of an example of a vintage 1990s-era 911 Turbo as you will find — but let’s get this out of the way up front: It sold last month for an eye-popping $1,265,000. That is quite an increase from the 1994 dealer selling price of $126,360. Why does a 30-year-old Porsche command 7 figures? As best as I can tell, the combination of rarity, conditions, ultra-low miles, and options made this a bit of a one-off for collectors.

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IL&FS pays Canara Bank, others Rs 1,300 crore

CFO News

Lenders led by Canara Bank have received close to ₹1,300 crore as part of their dues from Infrastructure Leasing & Financial Services (IL&FS) in what is a second payout from the defunct infrastructure financier.

Banking 52
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A Primer on Free Cash Flow

CFO News Room

It is never pleasant to be in the midst of a market correction, but a market correction does operate as a cleanser for excesses that enter into even the most disciplined investors’ playbooks in the good times. This correction has been no exception, as the threat of losing investment capital has focused the minds of investors, and led many to reexamine practices adopted during the last decade.

Valuation 130
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Reliance Cap lenders to run 2nd round of auction for value maximization; decision on Monday

CFO News

The Committee of Creditors (CoC) will meet on Monday to decide on the second round of auction as it is expecting bids upwards of Rs 10,000 crore from this. The first round of auction witnessed both Hindujas and Torrent trying to outbid each other by continuously sweetening their bids and offering more upfront cash, even after the auction got over, sources said.

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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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10 Sunday Reads

Barry Ritholtz

Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures: • The truffle industry is a big scam. Not just truffle oil, everything : You may be familiar with the truffle oil scam, but everything else you think you know about truffles is probably a lie too. ( Taste Atlas ). • The Damar Hamlin injury provokes a wave of ignorant anti-vaccine propaganda : It also has provoked a wave of responses not so refreshing: utterly unfounded conjecture that his collapse had somet

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Reliance Consumer to focus equally on full FMCG range, backend sourcing

CFO News

Newly floated FMCG flagship Reliance Consumer Products (RCPL) said it intends to enter the entire spectrum of domestic, household and consumer goods such as pharmaceuticals, food products and beverages, agri- and non-agricultural produce, commodities, educational, raw, processed and commercial products. The filing was made to the Registrar of Companies.

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Red vs. Blue

Barry Ritholtz

It’s not politics, it’s cultural identity. I’d say this is why you should never believe someone when they say they’re independent, but this is a cultural signifier too… They don’t want to be aligned with either side, they want to be seen as independent thinkers, even though they almost always vote for one side or another.

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JSPL to invest Rs 1,500 crore to make Monnet Power project operational: MD Bimlendra Jha

CFO News

The 1,050 megawatts (MW) under-construction coal-based power project is located near JSPL's steel plant in Angul, Odisha. "We will invest fresh investment of up to Rs 1,500 crore to make the plant operational. The amount will be invested over the period of the next 12-18 months," Jha told PTI.

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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.

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Reliance Capital lenders decide to go for fresh auction

CFO News

The decision was taken late Friday night at the committee of creditors (CoC) meeting to review offers received from the Hinduja Group and Torrent Investments. Lenders fixed the threshold price of ₹9,500 crore on a net present value (NPV) basis, which includes ₹8,000 crore as minimum upfront cash payment, the people said.

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Local carbon credit trade likely to kick off in July-September: Power Secretary

CFO News

"For carbon credit market, we have set a very tough target for ourselves. A lot of groundwork has to be done," he said in an interview. The Energy Conservation (Amendment) Bill, 2022, which encourages the use of green hydrogen and renewable energy, and promotion of carbon trading was cleared by Parliament in December.

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Global car companies upbeat about faster adoption of luxury EVs in India

CFO News

Encouraged by the response to the recent e-luxury car launches - most are pre-sold even before they arrive in India, both BMW and Audi are considering commencing local assembly of some of their EV models. But they will firm up the plans once the volumes reach a particular threshold.

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Bombay HC orders release of former ICICI Bank MD & CEO Chanda Kochhar, calls arrest 'illegal'

CFO News

The Bombay High Court on Monday granted interim relief to former ICICI Bank MD & CEO Chanda Kochhar and her husband Deepak Kochhar in the ICICI Bank-Videocon case, observing that their arrests were not in accordance with the law. The Kochhar couple has termed their arrest as "illegal" on the ground that no sanction was obtained prior to the CBI action as required under provisions of the Prevention of Corruption Act (PCA).

Banking 52
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Tariffs on the Table: How to Brief the Board and C‑Suite With Confidence

“What should we do about the tariffs?” There’s no straightforward answer — every leader has a different expectation. CFOs want numbers. COOs want action. CEOs want strategy. And supply chain and procurement leaders need to be ready with the right response — fast. That’s why GEP has created a simple three-part framework that will help CPOs and CSCOs brief the board and C-suite with clarity and confidence.