Fri.Nov 24, 2023

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The Strength of the Clean Core: Why It Matters for Your Business

Navigator SAP

Businesses need a centralized backend system for efficiently conducting operations, which is why enterprise resource planning solutions (ERP) have become the standard kit for all but the smallest firms.

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Mazars sees Forvis tie-up propelling it among top 8 accounting firms in India

CFO News

India managing partner Bharat Dhawan says after the combination with US firm Forvis, Mazars overall would become a global network of about $5 billion in revenue, resulting in significant revenue for Mazars India.

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Weekend Reading For Financial Planners (November 25-26)

Nerd's Eye View

Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that FINRA has issued a proposal to allow broker-dealers to advertise hypothetical performance data to institutional and high-net-worth investors, which would bring the rules for broker-dealers largely in line with those for investment advisers, but also raises questions about the comparative roles and regulations for the two groups.

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MAN Industries case: NFRA imposes 5-year ban on auditor for lapses

CFO News

The order came after NFRA received a letter from Sebi regarding the financial irregularities committed by the company. Thereafter, the regulator initiated action to investigate into professional or other misconduct of the statutory auditor of MIIL.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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Morgan Housel: Betting on the things that never change

The Reformed Broker

We did a surprise Thanksgiving podcast drop and had our friend Morgan Housel on the show to talk about the big idea behind his new book, ‘Same As Ever‘ We get into some stuff on the responsibility of a board director, the way investors overweight bad news versus good news, the not-so-aligned incentives of the financial media and so much more.

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Turning Economic Adversity into Business Opportunity: A Guide for SMBs

Focus CFO

Navigate economic challenges with confidence! Discover proactive strategies for active sales growth in a down economy and learn how an outsourced CFO can help guide your business.

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Tax planning should not extend to evasion: Dhankhar to CAs

CFO News

Dhankhar stressed that tax evasion and financial frauds endanger the financial stability and economic growth of the economy. “As watchdogs, your capacity is potent enough to contain these,” he told the gathering of CAs.

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Nine issues to address in generative AI

Future CFO

To be able to harness technology's full potential, leaders must be able to fully understand how it works. Alongside understanding comes identifying issues and potential problems. In knowing the risks that comes with a particular advancement, leaders can anticipate what can happen, thereby be able to concoct a good solution to combat any harm it can cause to the organisation.

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Senco Gold will close the year with around 12-12.5% stud ratio: CFO

CFO News

“As far as the growth across all the zones is concerned, we are very happy that we are growing across all the zones in India, particularly in the Eastern zone where the growth is around 22%. But in the West and South, the growth is much higher, more than 30% because our base there is slightly lower and we have much more to do. So the North region is growing.

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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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The Mentoring Round | Rodrigo Brumana, CFO, Poshmark

CFO Thought Leader

CFO Rodrigo Brumana reflects on his initial days as a CFO, emphasizing the importance of team communication and organizational structure. He candidly admitted that he should have prioritized identifying and solving infrastructure issues, especially in finance and accounting. Motorcycle Love: CFO Brumana has long loved racing and collecting motorcycles, with a special shout out to Honda, the make of hisvery first bike.

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Hero Electric taps GII, credit funds for Rs 550 crore

CFO News

According to sources in the know, the company is attempting to raise Rs 300 crore from existing backer GII and tie up the remaining funding of about Rs. 250 crore in form of debt for which it has tapped the credit fund arms of Edelweiss and Kotak. Hero Electric has offered to provide a land parcel in Gurugram as security to potential financiers.

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India, EU sign MoU on semiconductors in research, talent development

CFO News

The MoU was signed ahead of the India-EU Trade and Technology Council that was held virtually on Friday. The meeting was co-chaired on the Indian side by external affairs minister S Jaishankar, minister of commerce and industry Piyush Goyal and minister of electronics and information technology Ashwini Vaishnaw.

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Ministers group likely to discuss e-gaming on December 15

CFO News

While the GoM has conducted “a couple of informal meetings” so far, the first official meeting is likely to set the tone for the process of regulating online gaming, with a specific focus on how to effectively tax the sector and avoid “any illegal gambling or betting, especially from off-shore players”.

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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.

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Tata Steel wins Rs 100 crore transfer pricing challenge

CFO News

Tata Steel Ltd has won a Rs 100 crore transfer pricing claim against the revenue department, with the Income Tax Appellate Tribunal ruling in favor of the steelmaker. The tribunal also disallowed interest paid on perpetual non-convertible debentures and provisions for leave encashment, despite the assessing officer's findings.

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New enrolments in the formal job market fall further in September

CFO News

The number of new enrollments in the better-remunerative EPF scheme declined for the second month in a row in September, falling 6% to 891,583 compared with the previous month. Net enrollments in the EPF rose to 1.72 million in September, but data is expected to be revised downwards as exits from the scheme are revised upwards in subsequent months.

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Historic move set in motion for equitable shift in global tax power; India votes for change

CFO News

India voted for a change along with 125 countries in favour of a resolution calling for a 'UN tax convention'. The resolution was passed in the ratio of 125:48 at the UN General Assembly in New York on November 22.

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RBI supersedes Abhudaya Co-operative Bank Board

CFO News

“ The bank has been showing some financial stress for some time. One of the indicators is fall in profits” said a consultant to cooperative banks requesting anonymity. A long term analysis of financial data shows that profits started falling steeply from 2016 onwards. Net profits fell from a peak of Rs 98 crore in March 2014 to Rs 16.2 crore in March 2020, according to the figures posted on the bank’s website.

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Finding “The One:” The Ultimate Guide to Selecting Financial Software

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

As finance and accounting practitioners, you are expected to complete daily operations as well as to manage next generation tools and resources to support a business that is growing in complexity. Having the right software can be critical in juggling and meeting those high expectations. The path to the right software, however, is paved with challenging decisions.

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India set to miss divestment targets yet again, this time by more than half: Report

CFO News

India may fall short of its divestment goal by Rs 30,000 crore in 2023/24, according to government sources. The government had targeted Rs 51,000 crore from divestment proceeds for the current fiscal year ending March 2024. The sale of NMDC Steel is set to end this year due to state elections and federal elections next summer.

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When a change in buyer behaviour halted 'downtrading' in Indian FMCG

CFO News

It may be mentioned here that downtrading happens when consumers shift from larger packs to smaller packs. This trend was noticed in several categories till October.

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Over 60% IT employees ‘directly know’ someone who is moonlighting: Indeed

CFO News

According to a report, the attitude towards moonlighting varies across sectors, with the IT and manufacturing sectors leading in opposition to moonlighting.