CFO News
JULY 16, 2023
A 28% GST on gaming will push up operational costs for many platforms, which will be passed on to users. While this might not get people to move away from this sector fully, there is bound to be an impact on the amount of money being bet through these platforms, experts said.
CFO Thought Leader
JULY 16, 2023
CFO Michael Cox says that it was near the end of 2022 when the IRIS Software Group began to realize that the guiding philosophy that had motivated and incentivized the UK-based software company to complete 30 acquisitions within 6 years needed an upgrade. Cox tells us that the IRIS management team was discussing the business cases for yet more acquisitions when the group began to banter about the same deal-making “multiples” that had successfully guided the company prior to the pandemic.
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CFO News
JULY 16, 2023
The DGGI said the practice is a ‘service’ liable for taxation under GST as this is undertaken by the parent company to maximise the returns on investment on these subsidiaries. In the case of MNCs, tax authorities are seeking GST dues from the local unit under the reverse charge mechanism.
Future CFO
JULY 16, 2023
The top priorities for chief audit executives (CAEs) in 2023 are advancing data analytics, providing assurance on proliferating digital risks, and talent management, said Gartner recently. In 2023 most CAEs are focusing on organisational and departmental digital transformation initiatives and improving team engagement and performance in response to growing assurance needs, said Leslee McKnight, Vice President in the Gartner Risk & Audit Practice.
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.
CFO News
JULY 16, 2023
A synthesis paper with a summary of the International Monetary Fund report on macro-economic stability and the Financial Stability Board's report on regulation for crypto assets along with New Delhi's input note would be presented to the leaders for deliberation at their summit in September, people privy to the matter said.
Corporate Finance Brief brings together the best content for corporate finance professionals from the widest variety of industry thought leaders.
CFO News
JULY 16, 2023
The Indian government will take legal action against electric vehicle (EV) companies that wrongfully claimed incentives under the FAME II scheme and will ban them from participating in the updated programme. The government is also holding back funds after anonymous emails accused several firms of claiming incentives without adhering to local production requirements.
Tips Watch
JULY 16, 2023
By David Enna, Tipswatch.
CFO News
JULY 16, 2023
Air India, owned by Tata, wrote off an estimated INR7,000 crore ($927 million) in fiscal year 2023 as a result of impairments resulting from faulty aircraft and engines, as well as low-cost airline AirAsia's Indian arm, people familiar with the situation said. Losses shrank and the airline was EBITDAR positive (earning before interest, taxes, depreciation, amortisation and restructuring or rent costs), or profitable at an operating level, executives said.
Barry Ritholtz
JULY 16, 2023
Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures: • Floods, fires and deadly heat are the alarm bells of a planet on the brink : The world is hotter than it’s been in thousands of years, and it’s as if every alarm bell on Earth were ringing. The warnings are echoing through the drenched mountains of Vermont, where two months of rain just fell in only two days.
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CFO News
JULY 16, 2023
"Negotiations are really time consuming and energy consuming and human resource consuming. Therefore, we are trying to increase the bandwidth within the commerce department," the government official said.
CFO News
JULY 16, 2023
Smart wearable device maker Boult Audio expects 100 per cent growth in revenue to Rs 1,000 crore this fiscal on the back of expansion in sales channels and growth in the smartwatches category, a top company official said. Boult Audio Founder and CEO Varun Gupta told PTI that its overall audio category business grew by over 30 per cent but the smartwatch category is growing in triple digits.
CFO News
JULY 16, 2023
Banga, 63, who took over as World Bank president on June 2, called for bolstering private sector flows and detailed the plans for the Private Sector Investment Lab launched last month.
CFO News
JULY 16, 2023
The size of the contract will require the Big Four accounting firm to call in staff from other countries to work on the audit, two people told the FT. PricewaterhouseCoopers (PwC), which has been Credit Suisse's auditor since 2020, will audit the acquired bank's accounts for 2023, according to the newspaper.
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.
CFO News
JULY 16, 2023
"We hope that the G20 continues exploring the options to further strengthen the global architecture to fight financial crime and assist jurisdictions in enhancing their law enforcement capacity," finance minister Nirmala Sitharaman said at a 'G20 High-Level Tax Symposium on Combating Tax Evasion, Corruption and Money Laundering'.
CFO News
JULY 16, 2023
Pen maker Flair Writing Industries Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 745 crore through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares aggregating up to Rs 365 crore and an offer-for-sale (OFS) of equity shares worth up to Rs 380 crore by promoters and promoter group entities, according to the draft red herring prospectus (DRHP) filed on Friday.
CFO News
JULY 16, 2023
In a note, ICICI Securities said earnings growth momentum for housing finance (HFC) and microfinance companies is likely to be better sequentially, helped by an upward repricing in asset portfolio after a 25 to 50 basis points hike in lending rates between March and April. One basis point is 0.01 percentage point.
CFO News
JULY 16, 2023
The letter said the number of online gamers grew to over 420 million from 360 million in 2020. India’s gaming industry attracted FDI of about $500 million between 2014 and 2020, and over $1. 5 billion between January last year to June this year.
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
CFO News
JULY 16, 2023
The company, whose backers include SoftBank Group Corp. and Tiger Global Management, has become leader in India’s electric-scooter market with a 38 per cent share.
CFO News
JULY 16, 2023
Official Data: Beijing's National Bureau of Statistics said in a statement that the economy "showed a good momentum of recovery"
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