Tue.Oct 10, 2023

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All About Variance Reporting for Corporate Budgeting

Spreadym

Variance reporting is a financial and management accounting process used to analyze the differences between budgeted or expected figures and actual performance results. It involves comparing the planned or budgeted financial data (such as revenues, expenses, or other key performance metrics) with the actual figures that have been realized during a specific period, such as a month, quarter, or year.

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Leveraging AI in your monthly close process

CFO Dive

Savvy accounting leaders who “see the writing on the wall” are focused on bringing cutting-edge technologies into their teams’ daily tasks, including the monthly close, writes Horváth’s Tony Klimas.

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Trending Sources

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Preparing Your Finance Organization for the New Era of AI

CFO Leadership

Future-forward finance and accounting organizations were quick to embrace robotic process automation (RPA) years ago to manage mundane, repetitive back-office tasks like data entry and routine financial reporting. Many have since advanced to intelligent process automation (IPA) — RPA amplified with artificial intelligence (AI) — to streamline and improve more complex work, from tax and compliance reporting to financial statement reconciliation.

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SEC cyber rules send execs scrambling as deadlines near

CFO Dive

Some companies are still grappling with how to determine what constitutes a “material” cyber breach for reporting purposes.

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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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Embracing AI in Finance and Accounting: Balancing Risk and Innovation

CFO Leadership

Until a few months ago upon the public release of ChatGPT, most of us considered the notion of a human-like artificial intelligence like the HAL supercomputer in the movie 2001, or Data, the AI-powered android from Star Trek , something we were unlikely to see in our lifetimes. But as people use new powerful AI tools like ChatGPT and BARD for everything from setting meeting agendas to writing personal letters, shopping lists, and even poetry, an AI-powered future seems likely to become a real

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More Trending

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Talent from big consulting firms looking at Uniqus ‘very positively’, hiring no challenge: Co-founder Sandip Khetan

CFO News

Uniqus, which is set up as a corporation like the consulting major Accenture, is eying profitability by FY25 end, says Sandip Khetan.

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Capital Structure – Beyond the Income Statement

VCFO

Beyond the Income Statement – Why Capital Structure Matters The Income Statement is often a place of disproportionate focus for business owners. Many use it to assess questions like “Am I cash positive?” or “Am I able to spend like I want and pay my bills comfortably?” as a barometer for business health. While the Income Statement does provide a view of historical (e.g., monthly, annual) performance, much more is needed for effective strategic planning – proactive planning that looks beyon

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Telecom companies invest Rs 2,419 cr under PLI scheme till date: Ashwini Vaishnaw

CFO News

​​The government shortlisted 42 companies in October 2022 that committed a total investment of Rs 4,115 crore and are likely to generate additional sales of Rs 2.45 lakh crore and employ over 44,000 people during the six-year scheme period ending 2025-26.

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#FA Success Ep 354: Making Advisor Transitions Less Scary With Effective Transition Preparation And Support Services, With Grier Rubeling

Nerd's Eye View

Welcome everyone! Welcome to the 354th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Grier Rubeling. Grier is the founder of Advisor Transition Services, a consulting firm based in Cary, North Carolina, that helps advisors switch from one broker-dealer or custodian platform to another, often when breaking away from a larger firm to start up their own.

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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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ION Commodities wins CTRM Software House of the Year for the second consecutive year at Energy Risk Asia Awards 2023

Reval

LONDON – 10 October 2023: ION Commodities, a leading provider of energy and. The post ION Commodities wins CTRM Software House of the Year for the second consecutive year at Energy Risk Asia Awards 2023 appeared first on ION.

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Did Bonds Just Bottom?

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: ►Have Treasury Bonds Bottomed? – The crash in long-dated Treasurys since the pandemic now ranks as one of the most destructive financial crashes ever.

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941: Mobilizing Your Team | Melissa Howatson, CFO, Vena

CFO Thought Leader

The corporate headquarters of Bend All Automotive may have been a mere 30-minute drive from KPMG’s offices in Waterloo, Ontario—but Melissa Howatson had to put in a 6-year career investment at the accounting house before she came to realize that it was time to go the distance. Not unlike those of many of her peers, Howatson’s years in public accounting were laden with mentorship generously supplied by a partner (and a number of senior managers).

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Why Meta is in the fight of its life against OpenAI and Apple

The Reformed Broker

If you want to understand what’s happening in the US stock market these days, you need to understand what’s happening with the largest companies that make up such a heavy part of the index weighting. And to do that, you have to understand Big Tech. Which is where my friend Alex Kantrowitz comes in. He’s one of the foremost authorities on everything going on in the space.

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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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Understanding finality in blockchain

Future CFO

Finality in blockchain refers to the unchangeable confirmation of a transaction or a block of transactions. This is attained by the blockchain network’s use of consensus. Different blockchain networks employ various consensus algorithms, each with a unique method of validating transactions and ensuring finality, such as proof-of-work (PoW), proof-of-stake (PoS), or practical Byzantine fault tolerance.

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India, UK may ink FTA by the end of this month

CFO News

India and the UK are expected to sign a free trade agreement (FTA) at the end of this month, marking India's first comprehensive deal with an industrialized nation. The agreement aims to boost bilateral trade beyond the current $20 billion. India has invited UK Prime Minister Rishi Sunak to visit India on October 28 to finalize the pact. The agreement will consist of 26 chapters, with discussions still ongoing on issues such as rules of origin and intellectual property rights.

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Business sentiment: Leaders still confident on three-year outlook

Future CFO

When it comes to business sentiment, business leaders remain confident on three-year outlook though they are now grappling with multiple challenges. Geopolitics and political uncertainty have become the leading perceived risk this year for senior executives—concerns that didn’t even make the top five in last year’s survey, according to the KPMG 2023 CEO Outlook based on a recent survey of 1,325 CEOs from the world’s largest businesses.

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RBI directs Bank of Baroda to suspend further onboarding of customers on ‘bob World’

CFO News

This action is based on certain material supervisory concerns observed in the manner of onboarding of their customers onto this mobile application. Any further onboarding of customers of the bank on the ‘bob World’ application will be subject to rectification of the deficiencies observed and strengthening of the related processes by the bank to the satisfaction of RBI.

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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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Deloitte research: generative AI reshaping content production for marketing

Future CFO

Generative artificial intelligence is stepping in the scene of marketing content production, according to Deloitte Digital ’s new research. The study, which asked 650 leaders from US companies, reveals that 26% of the surveyed marketers are already using generative AI for their content production, while another 45% are planning to use the technology by end-2024.

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I-T department may challenge order against TCS tax claim

CFO News

​The department had earlier probed TCS on Transfer Pricing (TP) adjustments to check if the transactions with its associated enterprises were at arm's length and whether TCS was liable for taxes on brand fees. The assessing officer (AO) for the assessment year FY14-15 had arrived at the assessed income of '18,752 crore.

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The Fear of Changing Banks

CFO Simplified

They just don’t make them like they used to. That’s a common expression that is probably universal. In some cases, it’s a good thing. I don’t think that anyone would be happy driving to work in a car that was built in 1910. On the other hand, in some cases it’s a bad thing. There just isn’t the loyalty in the workplace that there used to be. Does anyone think that they’re going to work for a company for 20 – 30 years after they get their first job?

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Byju Raveendran among big names exiting 2023 Hurun India Rich List

CFO News

Raveendran's exit was attributed to markdowns by the company's investors. A few days earlier, there were reports in the media that that online higher education platform Great Learning is making efforts to buy back the company from Byju's.

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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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How Scary is Strategic Growth?

CFO Simplified

Decision making is always fraught with fears and challenges. But when you’re looking at the growth of your company and want to figure out the ideal time to make those scalability decisions, there’s always the challenge between doing things too early and doing them too late. Delay in making a decision may well keep you from spending money before you need to, but it also could result in your losing an opportunity.

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RBI to extend PCA supervisory norms to govt-owned NBFCs from Oct 2024

CFO News

The Reserve Bank of India (RBI) has announced that government-owned non-banking financial companies (NBFCs) will be subject to the strict supervisory norms of the Prompt Corrective Action (PCA) Framework starting from October 2024. This framework includes restrictions on dividend distribution and profit remittance, requirements for equity infusion by promoters/shareholders, leverage reduction, and limitations on issuing guarantees or taking on contingent liabilities for group companies.

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When the Capital Markets Said “Yes” | Michael Linford, CFO, Affirm

CFO Thought Leader

940: All the Moving Parts | Michael Linford, CFO, Affirm MADE POSSIBLE BY PLANFUL | Planful is the pioneer of financial performance management cloud software. The Planful platform, which helps businesses drive peak financial performance, is used around the globe to streamline business-wide planning, budgeting, consolidations, reporting, and analytics.

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ED arrests 3 Vivo India executives and Lava MD under PMLA

CFO News

Earlier this month, the Indian police formally accused Vivo Mobile of helping transfer funds illegally to NewsClick, a news portal under investigation on charges of spreading Chinese propaganda. Vivo has not commented on the allegations.

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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.