Fri.Jun 23, 2023

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COVID tax claims add to IRS backlog

CFO Dive

While IRS return-processing backlogs persist, a report found evidence that the outlook is brightening when it comes to the responsiveness that CFOs and tax preparers can expect.

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What is an Intelligent Enterprise?

Navigator SAP

Technology advancements change the way business is performed. At first, they are used by market leaders to drive improved efficiency, then they are used by the rest of the business community to keep up with those market leaders. Examples of this tech advancement include the introduction of computers for business and the emergence of the internet.

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Trending Sources

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Motion Picture Association taps new finance chief

CFO Dive

Hunter Paletsas will take the organization’s financial reins as the media and entertainment industry deals with major challenges including inflation, the ongoing writers strike and the impact of generative AI.

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10 Friday AM Reads

Barry Ritholtz

My end-of-week morning train WFH reads: • What Was Nate Silver’s Data Revolution? Silver, a former professional poker player, was in the business of measuring probabilities. Many readers mistook him for an oracle. ( New Yorker ) • Boaz versus BlackRock: the fight over closed-end funds : Saba founder says he never planned to be an activist investor.

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How to Streamline Payment Applications & Lien Waivers Through Innovative Construction Technology

Speaker: Dylan Secrest, Founder of Alamo Innovation and Construction Digital Transformation Consultant

Construction payment workflows are notoriously complex when you consider juggling multiple stakeholders, compliance requirements, and evolving project scopes. Delays in approvals or misaligned data between budgets, lien waivers, and pay applications can grind progress to a halt. The good news? It doesn't have to be this way! Join expert Dylan Secrest to discover how leading contractors are turning payment chaos into clarity using digital workflows, integrated systems, and automation strategies.

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Treasurers trim cash allocations to banks: AFP survey

CFO Dive

This year big companies cut back their bank deposits and allocated more of their short-term cash to government security-backed funds.

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More Trending

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Accountants need to advance ‘social agenda’: ACCA

CFO Dive

The accounting profession should not delay in helping ensure a “just transition” and promoting social welfare, the ACCA said.

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Introducing Bank Feeds

FISPAN

Bank feeds are a game-changer in financial workflows, offering seamless integration between accounting software and bank accounts.

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B2B must embrace digital payments

CFO Dive

“B2B organizations have been slow to adapt to the changing demands and expectations of Gen Z,” writes a payments company vice president. “This is a huge mistake, and it can cost them dearly in the long run.

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Relative Strength

The Reformed Broker

Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Mark Newton, and Downtown Josh Brown discuss market sentiment, buying the dip, the DeMARK Indicator, fundamental vs technical analysis, industrials, commodities, 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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You upgrade everything else. Why not your close process?

You wouldn’t keep using a 2009 flip phone - so why settle for outdated close processes? It’s time for an upgrade. SkyStem's Guide to Month-End Close Software walks you through what today’s best tools can do (and what your team shouldn’t have to deal with anymore). Get smart, fast, and a whole lot less stressed when it’s time to close the books.

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MCA to conduct inspection of Byju's books

CFO News

"A decision to this effect (on inspection) has been taken. The government treats corporate governance as a serious issue. So, if there is any such issue, it needs to be probed," the official said.

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SUPD: Inflation & The Fed

Barry Ritholtz

Pete & I discuss Inflation, the Fed, and even get into Swiss Banking Secrecy laws. Its a fun romp through current news items and related topics. SUPD 868 Barry Ritholtz on Inflation, The Fed, Bank Rules work and Golf doesn’t The post SUPD: Inflation & The Fed appeared first on The Big Picture.

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Pichai meets Modi, announces Google will invest $10 billion in India's digitisation fund

CFO News

Notably, Gujarat International Finance Tec-City is a central business district under construction in Gandhinagar district in Gujarat, India. "PM's vision for Digital India was way ahead of his time I now see it as a blueprint that other countries are looking to do," Pichai said after meeting Prime Minister Modi.

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AI's Winners, Losers and Wannabes: An NVIDIA Valuation, with the AI Boost!

Musings on Markets

I will start this post with a couple of confessions. The first is that my portfolio has held up well this year, in a market that has been top-heavy and tech-driven, and one big reason is that it contains both NVIDIA and Microsoft, two companies that have benefited from the AI story. The second is that much as I would like to claim credit for foresight and forward thinking, AI was not even a speck in my imagination when I bought these stocks (Microsoft in 2014 and NVIDIA in 2018).

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Precision in Motion: Why Process Optimization Is the Future of Manufacturing

Speaker: Jason Chester, Director, Product Management

In today’s manufacturing landscape, staying competitive means moving beyond reactive quality checks and toward real-time, data-driven process control. But what does true manufacturing process optimization look like—and why is it more urgent now than ever? Join Jason Chester in this new, thought-provoking session on how modern manufacturers are rethinking quality operations from the ground up.

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Higher inflation was tolerated to protect growth because of past shocks, says Ashima Goyal

CFO News

Higher inflation was tolerated only to protect growth because of the major shocks of the past few years. An inflation targeting regime where the nominal repo rate responds to expected inflation to ensure appropriate real repo rates is adequate to credibly anchor inflation expectations. An appropriate real repo rate is required, not a 'high nominal repo rate'.

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India-US partnership is about making the world in 21st century better again, says PM Modi to Indian diaspora

CFO News

During the course of the speech, PM Modi also referenced the US State Department's plan for those coming to the US on a H-1B visas and stated that it would now be renewed in the US without having to travel abroad. He said, “America's new consulates will be opened in Bengaluru and Ahmedabad.

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Indian Oil and BPCL pick rights issue, HPCL chooses preference share route to raise capital

CFO News

Indian Oil Corporation (IOCL) and Bharat Petroleum Corporation (BPCL) plan to launch rights issues while Hindustan Petroleum Corporation (HPCL) will issue preferential shares to the government in the current financial year. The government had set aside INR300bn ($4bn) for capital support for the government-owned firms. This support was conditional on the state-run oil marketers submitting capital investment plans for 2023-24.

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Current level of real repo rate raises worries of damage to growth: Jayanth R Varma

CFO News

The objective of monetary policy is to control inflation with as little growth sacrifice as possible. The current real repo rate is close to 1.5% based on projected inflation 3-4 quarters ahead. At this level, there are worries about the extent of demand destruction that it will cause and the consequent damage to economic growth.

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AI In Accounting: A Practical Roadmap For Smarter AP

Speaker: Gerald Ratigan

The accounts payable (AP) function is evolving and AI is leading the charge. As finance teams face rising invoice volumes and expectations for speed and accuracy, AI-powered automation has shifted from a futuristic concept to the most practical solution. But for finance leaders, success isn’t just about selecting the right tools, it’s about implementing the right strategy.

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Banks say systems are not yet ready for new TCS regime

CFO News

Indian banks are claiming that they do not yet have the requisite software to implement new rules relating to tax collection at source for foreign debit and credit card transactions, due to start from July 1. Rules issued by the Central Board of Direct Taxes last month require foreign card spending above INR700,000 ($10,874) to be counted towards the Liberalised Remittance Scheme and taxed at 20%.

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Inflation slowing down personal consumption, affecting pvt investment: RBI bulletin

CFO News

Inflation in India is decreasing personal consumption expenditure, causing a slowdown in corporate sales and private investment, according to a paper authored by a team led by RBI Deputy Governor Michael Debabrata Patra. The Reserve Bank published the report, which urged the lowering of inflation to revive consumer spending and boost corporate revenues.

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HDFC Life gets Rs 942-crore GST demand notice

CFO News

HDFC Life Insurance on Friday said it has received a demand notice of more than Rs 942 crore for non-payment of GST. The matter relates to the claiming of input tax credit against supply of services, which the Directorate of Goods and Services Tax (GST) Intelligence (DGGI) believes are ineligible for such claims, it said.

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India adds over 4 million jobs in a year; hotel and tourism industry lead

CFO News

According to CMIE, the total workforce in India in May 2023 stood at 408 million compared to 403.9 million, an addition of around 4.1 million jobs in the last one year.

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Stop Budget Burnout: A Better Way to Grow Your Nonprofit in 2026

Speaker: Sean Yoder

Nonprofits are under more pressure than ever to demonstrate financial accountability while continuing to expand their impact. Traditional budgeting models often fall short, reinforcing silos, limiting flexibility, and stalling growth. Enter collaborative budgeting: a dynamic, team-driven process that enables smarter resource allocation and builds financial resilience at scale.

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Tata-owned Infiniti Retail's sales nearly double to Rs 16,015 crore in FY23

CFO News

The company in the filings did not give any reasons behind the financial performance. Industry executives said this jump in revenue – highest growth rate in at least the last five years – is driven by Croma becoming the exclusive online seller for all electronic products in the group’s e-commerce platform Tata Neu and rapid offline store expansion.

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Sebi lets AIFs float new scheme to liquidate their illiquid assets

CFO News

The new rule allows such investments to be either sold to a new scheme of the same AIF - liquidation scheme or distributed in-specie to the investors of the original AIF. An in-specie distribution involves the distribution of the investments such as shares or other securities of the AIF to its investors, instead of returning their capital in the form of cash.

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Harsh Dugar Appointed as Executive Director of Federal Bank

CFO News

The newly appointed Executive Director of Federal Bank, Harsh Dugar would assume charge with effect from 23 June, 2023. He has been serving as the Group President and Country Head – Wholesale banking of the Bank since April, 2021.

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Not aware of any subpoena to investors, says Adani on reports of action by US authorities

CFO News

Billionaire Gautam Adani's conglomerate Adani Group on Friday said it was not aware of any subpoena being issued to its various investors by authorities in the United States. The company also reiterated that its various issuers' groups remain confident that the disclosures issued by the company are full and complete.

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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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Adani JV raises $213 mln to finance data centers in Noida and Chennai

CFO News

AdaniConneX, a joint venture of Adani Enterprises and EdgeConneX, has secured $213m from ING Bank, Mizuho Bank, MUFG Bank, Natixis, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation. The funds will support AdaniConneX’s under-construction 67 MW data centre portfolio in Noida and Chennai.

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PM Modi's US visit has resulted in significant outcomes in defence, renewable energy: Smriti Irani

CFO News

"Prime Minister's visit to the United States resulted in significant outcomes in areas such as defence, renewable energy and critical minerals cooperation. India and US cracked several deals on Space and Defence. MoU on Semiconductor Supply Chain and Innovation Partnership will not only promote research but also business opportunities," said Smriti Irani.

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