Fri.Nov 29, 2024

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Never Mix Payroll and Household Survey Data

Barry Ritholtz

@TBPInvictus here (link is now to Bluesky) Let’s cut to the chase: A Hoover Institution analysis of California private job creation is off by a factor of 100. Between January 2022 and June 2024, the state created 523,700 private sector jobs — not 5,400 as claimed. MSM uncritically repeated the false number. I spend far too much time debunking economic b t.

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Belfius: Setting the standard for service excellence for public-sector, business and corporate clients in Belgium

Global Finance

Global Finance: Can you discuss your leading role in providing cash management services for public entities? Claudia Kabbe: What sets Belfius apart in the Belgian market are our dedicated relationship managers who provide specialized solutions, such as cash advances. These are collection accounts specifically developed to collect various public taxes: The amount of the advance available is determined based on expected receipts, and enriched reporting data enables automatic reconciliation in publ

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The Future of Finance and Sustainability with Elizabeth Burns

CFO Talks

The Future of Finance and Sustainability with Elizabeth Burns The evolving demands of sustainability and financial performance are reshaping the role of CFOs in the energy sector. Elizabeth Burns, CFO of Gas du Cameroon (GDC), exemplifies this balance, demonstrating how strategic financial leadership can support environmental responsibility. Her work at GDC highlights the potential for finance leaders to drive impactful sustainability initiatives while ensuring organizational growth and resilien

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Weekend Reading For Financial Planners (November 30–December 1)

Nerd's Eye View

Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that a recent study from Cerulli Associates shows that consumer trust in financial services companies has increased significantly over the past decade, with firms that provide a more personalized approach to providing financial advice seeing the best results.

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2025 Payroll Calendar Templates (Biweekly, Semi-Monthly, and Monthly)

Use these handy calendar templates to stay on top of payroll in 2025! Download them today to share with your HR team or post for employees. Whether your company has biweekly, semi-monthly, or monthly pay periods, Paycor has you covered. Get your templates today!

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Members’ Profile: Rofhiwa Irene Singo

CFO Talks

Members’ Profile: Rofhiwa Irene Singo In this edition of our CFO Spotlight series, we are featuring Rofhiwa Irene Singo, an accomplished finance leader whose journey is a testament to resilience, adaptability, and impactful leadership. Currently serving as the Chief Financial Officer for South Africa’s Department of Justice and Constitutional Development, Rofhiwa brings over two decades of diverse experience spanning public and private sectors.

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More Trending

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Indian startups raise $9.2 bn VC funding during Jan-Oct: Report

CFO News

About 984 venture capital (VC) funding deals were announced in India during January-October 2024, and the total disclosed funding value of these jumped by 44.4 per cent YoY to $9.2 billion during the same period, according to a report on Friday.

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VW India unit faces $1.4 billion tax evasion notice

CFO News

India has accused Volkswagen of evading $1.4 billion in taxes by misclassifying imports. The notice claims Volkswagen paid lower import taxes on car parts than required. The company should have paid $2.35 billion since 2012 but only paid $981 million. Volkswagen is currently examining the notice and cooperating with authorities.

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India's GDP expected to fall below 6.5 pc in FY25 amid slowdown in GDP growth in second quarter: SBI

CFO News

India's GDP is likely to drop below 6.5 per cent in FY25, with Q2 growth slowing to 5.4 per cent. The manufacturing sector faced significant declines, impacting overall economic performance. Despite resilience in services and agriculture sectors, industrial sluggishness pulled down growth. GVA growth stood at 5.6 per cent, marking challenges ahead for the economy.

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India's path to global leadership in accounting standards: balancing global norms with local needs

CFO News

India stands poised to reshape its accounting standards, integrating global best practices with its unique needs. Sunil Kanoria, Co-Founder of Srei Group and former President of Assocham, explores this pivotal transformation.

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From Start to Scale: Driving Growth Through Seamless Payments Implementation

Speaker: Michael Veatch, Senior Director, Implementations & Ella Aguirre, Director of Solution Consulting

Embedding payments can be a transformative step for software companies looking to enhance their platform capabilities, boost customer satisfaction, and drive long-term growth. However, the success of payments hinges on a single thing: implementation. Drawing on real-world insights and experiences, payments implementation experts Michael Veatch and Ella Aguirre will explore actionable strategies that can lead to a transparent, friction-free launch and mitigate potential challenges like technical

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Godrej Enterprises Group to intensify focus on exports to strengthen its global presence

CFO News

Godrej Enterprises Group plans to enhance exports to strengthen its global presence. They will also expand in new markets like automotive, warehousing, security, and aerospace. The group aims for a 20-25% growth in exports till FY27. Domestically, they will continue growing their consumer-facing and industrial businesses within India.

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Office rentals rising steadily in top 10 Indian cities, Pune leads: Report

CFO News

Office rentals have shown a consistent increase in India's 10 top cities with Pune emerging as the leader with a compound annual growth rate of 6.9 per cent over the last 12 years, according to a commercial property rental index launched by the Indian Institute of Management-Bangalore (IIM-Bangalore) in collaboration with CRE Matrix.

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Volvo Group Partners with Indian Universities to Shape Future Automotive Talent

CFO News

Bangalore (Karnataka) [India], Volvo signs MoU with Amrita University and Thapar Institute to build a stronger industry-academia engagement and enhance the engineering industry readiness.

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RBI to keep repo rate unchanged at meeting next week, chances of rate cut in Feb increased: Report

CFO News

The Reserve Bank of India (RBI) is expected to maintain its policy rate during its upcoming meeting next week, as GDP growth slowed significantly in the second quarter of FY25. However, the likelihood of a rate cut in February has increased, according to a report by HDFC Bank.

Banking 40
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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

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IT hiring expected to grow by 10-12% in next 6 months: Report

CFO News

​Emerging technologies such as GenAI, Deep Tech, and Quantum Computing are set to create over a million jobs by 2030, the report by business services provider Quess Corp said. The report revealed that demand for talent across Global Capability Centres (GCCs) and cybersecurity during the Sept quarter sequentially surged across the country by 71% and 58%, respectively.

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Don't need to raise capital for our plans: Adani CFO

CFO News

Adani Group's CFO Jugeshinder Singh asserts that the group does not require external capital for its growth plans despite recent US charges. Highlighting the group's strong cash reserves, Singh also mentioned Adani Green Energy's withdrawn bond offering and the upcoming private placement of shares to raise $500 million.

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Paisabazaar receives Income tax notice over vendor payment

CFO News

The income tax department has sent notices to Paisabazaar, a subsidiary of PB Fintech, under the Prohibition of Benami Property Transactions Act, 1988, and section 142(1) of the Income Tax Act, 1961. This is part of a broader investigation into tax evasion by insurance companies and intermediaries, with an estimated evasion of Rs 30,000 crore.

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India Inc saw CEO & MD salary increase by CAGR of 3% since FY20

CFO News

According to ETHRWorld's analysis of companies’ annual reports, the overall remuneration paid to CEO and MD stood at Rs 272.79 crore in FY20, which increased by almost Rs 42 crore to Rs 314.56 crore in FY24.

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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

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Reliance's US unit buys $12 mln stake in helium explorer Wavetech Helium

CFO News

The billionaire Mukesh Ambani-run group, which operates the world's biggest oil refining complex at Jamnagar in the western Indian state of Gujarat, announced in 2021 investments worth $10 billion to develop its green energy portfolio and achieve its 2035 net zero carbon goal.

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Sebi penalises Reliance Securities for breach of norms

CFO News

Sebi imposed a fine of Rs 9 lakh on Reliance Securities due to multiple violations of market norms and stock brokers rules. The inspection found issues like inadequate systems for recording client orders, discrepancies in terminal locations, and lack of segregation at shared offices.

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'I would know': Adani Group CFO says no bribery carried out by group executives

CFO News

Adani Group's CFO refuted U.S. allegations of a $265 million bribery scheme involving Chairman Gautam Adani and other executives. The CFO firmly stated that the claims are baseless and that nothing of that sort happened. The group plans to take legal steps. Adani shares have taken a hit, and various consequences are unfolding following the allegations.

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India’s GDP growth slows to 5.4% in Q2, lowest in 7 quarters

CFO News

India’s GDP growth slowed to 5.4% in Q2 of FY 2024-25, marking a sharp decline from last year’s 8.1%, as challenges in manufacturing and mining tempered growth despite strength in services and agriculture.

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Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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India's core sectors grow 2% in September

CFO News

In September 2024, India's eight core sectors' output growth increased by 2%, with significant positive growth in Cement, Refinery Products, Coal, Fertilizers, and Steel. However, the crude oil sector experienced a 3.9% decline. The data, presented by the Ministry of Commerce and Industry, highlights variations in the performance of these essential industries.

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CarDekho Group reports 11% fall in FY24 net revenue; net loss narrows

CFO News

The Jaipur-based company, which operates businesses such as vehicle classifieds, insuretech and fintech, discontinued its used car sales business in FY23. Excluding the income from the discontinued car sales business, revenue from operations in FY24 was up 54% on like-for-like basis.

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Finance Minister Nirmala Sitharaman chairs review meeting of RRBs in Eastern belt

CFO News

Sharing the development on social media platform X, the Ministry of Finance posted on X, "Union Minister for Finance and Corporate Affairs @nsitharaman chairs the review meeting of the Regional Rural Banks #RRBs of the Eastern Belt, in Patna, today. Also in attendance are @samrat4bjp , Deputy Chief Minister of Bihar; M. Nagaraju, Secretary @DFS_India , along with Chairmen of RRBs and senior officials of @DFS_India.

Finance 40
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Nine Adani Group stocks settle higher; Adani Green soars almost 22 pc, Adani Energy up nearly 16 pc

CFO News

However, shares of Adani Power declined 1.01 per cent and Sanghi Industries dipped 0.45 per cent.

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Usage-Based Monetization Musts: A Roadmap for Sustainable Revenue Growth

Speaker: David Warren and Kevin O'Neill Stoll

Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng