Thu.May 18, 2023

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Ex-fabric CFO accused of losing $35M in crypto crash

CFO Dive

The former CFO is charged with investing the funds without permission into his own crypto venture before losing them during the market’s crash, according to a federal indictment.

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When to Use RPA Automation: A Step-By-Step Guide

Navigator SAP

Anyone who has been assigned the task of cutting and pasting the contents of one massive spreadsheet into another can attest that repetitive, tedious tasks aren't the best use of their abilities. It is not only boring for the individual doing the work, but often results in errors.

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Trending Sources

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CFOs bullish on M&A prospects: survey

CFO Dive

The research revealed that a large number of business leaders are optimistic about the economy, with more than half expecting the expansion to continue.

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ECL is a fiction but if it becomes reality, SBI is ready to deal with it: Dinesh Kumar Khara

CFO News

SBI’s balance sheet is completely insulated from any future potential events, says its Chairman.

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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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GE promotes insider to CFO, prepares for spin-offs next year

CFO Dive

Ahead of their planned three prong spin-off, the industrial giant has promoted Rahul Ghai, 51, to take the financial helm.

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Salaries for financial professionals rise 5% yet lag inflation

CFO Dive

CFOs in January gained a 4.2% increase in base salary, on average, compared with their pay 12 months before.

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Barron’s: How Advisors Can Create Killer Content

Barry Ritholtz

At Barron’s Independent Advisor Conference held in Dallas in March, I got to sit down with Greg Bartalos to discuss the idea of how advisors can use content as a way to enhance their business. The tagline is “ Want to create content, but not sure how to get started? The chairman and CIO of Ritholtz Wealth Management tells all ” but we really spend most of the time explaining why it doesn’t quite work the way people expect, and why it a lot of work, and far less lucrative

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From Unicorn to Cockroach

CFO News

Interestingly, many challenges that start-ups are going through today could have been avoided. Forget working to achieve profitability, many were not even thinking about it when the sun shone bright. Their sole focus was on raising funds and increasing the number of customers. Such companies ultimately did not perform well in the test of creating business value.

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10 Thursday AM Reads

Barry Ritholtz

My morning train reads: • Here’s How Much Wealth You Need to Join the Richest 1% Globally : It takes $12.4 million to join Monaco’s wealthiest group The US, by comparison, requires $5.1 million to make the cut. ( Bloomberg ) • Brew Another Pot, Robinhood’s 24-Hour Stock Trading Is Here : As the company launches a new nighttime buying and selling feature, one Reddit poster asks: “Why would anyone want this?

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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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NCLT admits Tulip Hotels into insolvency

CFO News

The application was originally filed by Yes Bank, the lender. The debt was subsequently assigned to JC Flowers, which filed a substitution application that was allowed on March 6.

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Jedox adds ChatGPT capability to integrated business planning

Future CFO

Jedox announces integration with ChatGPT allowing organisations to leverage generative AI in their integrated business planning (IBP) process. The ChatGPT model allows users to leverage the power of ChatGPT without leaving the Jedox environment. Users can display monthly management reports with the chatbot on the front end of the Jedox ecosystem, adjust parameters, and get insights from ChatGPT side by side within Jedox.

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Infosys to roll out average 60% variable pay for January-March quarter

CFO News

Infosys has rolled out an average of 60% variable pay for the fourth quarter of 2022-23, which was impacted by a volatile market and uncertainties, documents accessed by ET show.

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What’s the Difference VAT & Sales Tax?

CFO Share

Value-added Tax (VAT) and sales tax are both consumption taxes assessed on the consumer at point of sale. The difference between VAT and sales tax is what gets taxed: sales tax is assessed on tangible personal property (products, materials, and goods) whereas VAT is assessed on both goods and services. Value-added tax is more common in foreign countries than the USA, so businesses making international sales must pay particular attention to VAT requirements.

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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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NCLT dismisses IDBI Bank's insolvency plea against Zee Entertainment

CFO News

The National Company Law Tribunal on Friday dismissed IDBI Bank's insolvency plea against Subhash Chandra promoted Zee Entertainment Enterprises Ltd (ZEEL). ZEEL is in the process of a merger with Sony Pictures Network India (SPN). On December 22, 2021, ZEE and SPN signed a definitive agreement to merge the two companies. The proposed merger will see ZEE merging into SPN and, after closing, the merged company will be publicly listed in India.

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Maximize ROI with Sage Intacct Integrations

Lime Light

Sage Intacct has the power to generate massive amounts of ROI for your organization - sometimes as high as 250%. but only about 50% of organizations see a positive ROI at all from their ERPs. The good news is that with even one or a couple of Sage Intacct integrations, you could generate that mouth-watering level of ROI. To that end, we’ve developed this Sage Intacct integration guide so you can unlock your ERP’s full potential.

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Merely 27% of Indian businesses confident about ESG preparedness: Deloitte

CFO News

Deloitte India's survey finds that Indian businesses are committed to ESG principles, but there is a significant gap in preparedness and action. Only 27% of Indian organisations feel adequately equipped to meet their ESG strategy and compliance requirements, while only 15% believe their suppliers to be prepared to comply with the organisations' ESG requirements.

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86: What Is Digital Currency?

Strategic Treasurer

Session 86 Coffee Break Session: What Is Digital Currency? Crypto has been gaining popularity in the past decade. Will crypto help your department solve major issues, or will it simply introduce unnecessary complexity? In this episode, Paul Galloway and Jason Campbell discuss digital currency and its implications for treasury professionals. They also look at the difference between digital coins and digital tokens.

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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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Adani Group plans independent probe into Hindenburg allegations

CFO News

In similar statements, group firms Adani Ports and Special Economic Zone (APSEZ) and Ambuja Cements on Tuesday said they also are considering the appointment of an independent firm for evaluation of issues relating to legal compliance, related party transactions, and internal controls.

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10-year TIPS reopening auction gets a real yield of 1.395%, 2nd highest in 12 years

Tips Watch

By David Enna, Tipswatch.com The Treasury’s auction today of CUSIP 91282CGK1 — a 9-year, 8-month Treasury Inflation Protected Security — generated a real yield to maturity of 1.395%, a good result for investors but just slightly below market trends.

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Credit card spends in foreign currency to attract 20% TCS

CFO News

The Finance Ministry has clarified that foreign currency payments such as digital subscriptions to publications or goods bought on foreign ecommerce sites through international credit cards will count towards an individual's Liberalized Remittance Scheme (LRS) account and attract 20% tax collected at source (TCS). However, if these purchases are made in Indian rupees, they will not be counted against LRS and face any TCS.

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Turning the Dials Up On Key “Handoff Points” | Russell Lester, CFO, Versapay

CFO Thought Leader

CFO GUEST: Russell Lester of Versapay 898: Making Finance Proactively Persuasive | Russell Lester, CFO, Versapay At Avalara, we’re building cloud-based tax compliance solutions to handle every transaction in the world. Imagine every transaction you make — every tank of gas, cup of coffee, or pair of sneakers, every movie ticket, meal kit, or streamed song, every sensor-to-sensor ping.

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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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Only one bidder for whole of Future Retail

CFO News

Space Mantra's offer of ₹550 crore, however, is less than 3% of the total outstanding dues of ₹19,200 crore of financial creditors and is also conditional on it being able to realise value from the sale of remaining assets in the company, people aware of the development said.

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CFOs: Are you firms business interruption insured?

Future CFO

While organisations are recovering from business interruption and supply chain disruption brought by the Covid-19 pandemic, new emerging disruptions and risks are facing them post pandemic, said WTW recently. Emerging disruptions According to WTW’s Global Supply Chain Risk Report 2023, new emerging disruptions and risks include the followings: Economic risks: Economic uncertainty emerged as the leading factor underlying supply chain risks, ranked by 32% as being among their top concerns.

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RBI dividends to Modi’s government may double, aiding fiscal gap

CFO News

The Reserve Bank of India may decide to nearly double its dividend to the government from official estimates due to revaluation gains and profits from selling dollars, which could help bridge the fiscal deficit. A Bloomberg survey of nine economists saw the surplus transfer at 900 billion rupees ($10.9 billion) for the year ended March, compared to the government’s own estimate of 480 billion rupees, which includes dividends from state-controlled banks.

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Government has massive game plan for civil aviation sector: Jyotiraditya Scindia

CFO News

According to the minister, under the three-pronged strategy, the focus is to create capacity, ensure there are no bottlenecks for aviation industry players and have simplified processes and procedures.

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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.