The Finance Weekly

JULY 14, 2024

Are you planning for a Saturday night? Welp, that’s kind of short-ranged! How about, planning to buy a house in the next five years? Or a farm in the next 10 years! That’s exactly how Long-range Planning (LRP) works – not only for individuals but for businesses as well. Long range planning extends beyond conventional budgeting, planning, and forecasting processes which usually span a year, and concentrates mainly on financial goals and key initiatives that are 5-10 years or more into the future.

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Tips Watch

JULY 14, 2024

By David Enna, Tipswatch.com The U.S. Treasury on Thursday will offer $19 billion in a new 10-year Treasury Inflation-Protected Security, CUSIP 91282CLE9. The coupon rate and the real yield to maturity will be set by the auction’s results.

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Future CFO

JULY 14, 2024

One vital goal of CFOs is to ensure their data is viewed by authorised individuals and only those specific individuals. To accomplish this, IT professionals must employ best practices related to the segregation of data (SoD) within their organisations. "Data segregation is the process of separating certain sets of data from other data sets so that different access policies can be applied to those different data sets," says a report on NextLabs ( [link] ).

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The Finance Weekly

JULY 14, 2024

Are you planning for a Saturday night? Welp, that’s kind of short-ranged! How about, planning to buy a house in the next five years? Or a farm in the next 10 years! That’s exactly how Long-range Planning (LRP)works – not only for individuals but for businesses as well. It extends beyond conventional budgeting, planning, and forecasting processes which usually span a year, and concentrates mainly on financial goals and key initiatives that are 5-10 years or more into the future.

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Planning Leadership Budgeting Financial Analyst 52

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By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.

Concentration

CFO News

JULY 14, 2024

Quant Mutual Fund appointed Shashi Kataria as CFO effective July 1, succeeding Harshal Patel who resigned in February, with his last day in May. Kataria joined on June 10. Kataria is a Commerce graduate from Mumbai University and a fellow member of Institute of Chartered Accountants of India (ICAI).

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CFO News

JULY 14, 2024

Delhi's Rouse Avenue Court has granted bail to Nittin Johri, an accused in Bhushan Steel Money Laundering case, on health grounds, observing that he falls in the category of sick and infirm persons.

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Barry Ritholtz

JULY 14, 2024

Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures: • A Couple Won the Powerball. Investing It Turned Into Tragedy. How high fees and low returns hurt a nonprofit that trusted a local financial adviser ( Wall Street Journal ) • Three Algorithms in a Room : A growing number of industries are using software to fix prices.

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CFO News

JULY 14, 2024

Ahead of the upcoming Union Budget scheduled to be presented on July 23, the Non-Banking Financial Company (NBFC) sector is expecting enhanced financial inclusion, and reinforcing digitalization efforts to sustain the sector's growth.

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CFO News

JULY 14, 2024

Raymond Lifestyle appointed Vineet Nayar, GC Chaturvedi, Anisha Motwani, and Dinesh Lal as directors. Gautam Singhania is likely MD, with Sunil Kataria on board. NCLT approved restructuring creates Raymond Lifestyle, Realty, and Raymond. Realty is developing Thane and Bandra projects, with substantial market potential. Focus on shareholder value, strategic governance, and leveraging cash flows for real estate and quality execution.

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Speaker: Brad Pinneke, VP of Business Development at Payrix and Worldpay for Platforms

Join Brad Pinneke, Vice President of Business Development at Payrix and Worldpay for Platforms for an informational webinar about how to select the ideal payments provider for your platform! This session highlights the 7 key criteria for assessing payments partners and maximizing the value of your investment. From evaluating technology and business development programs to understanding support and compliance, this webinar will equip you with a comprehensive evaluation framework and strategy for

Compliance

CFO News

JULY 14, 2024

“The next step for India should be not to focus only on semiconductor fabrication, but to design and build its own products and create its own homegrown semiconductor brand,” said Tan, adding that he was “glad that the Indian government realised that semiconductors are so important as a foundation of any computing device.

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CFO News

JULY 14, 2024

App-based mobility providers, including Uber, seek clarity on GST liability following conflicting rulings. Companies approach finance ministry, GST council, and AAR for resolution. Ambiguity in tax law for electronic commerce operators highlighted by industry experts. Urgent need for clarity to prevent market impact and legal disputes.

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CFO News

JULY 14, 2024

User spending on mobile services (post-GST) rose a modest 1.4% sequentially to about ?55,524.5 crore in the fourth quarter of FY24 - 44% lower than the 2.5% sequential growth clocked in the third quarter of FY24 - as per latest sector performance data issued by Telecom Regulatory Authority of India.

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CFO News

JULY 14, 2024

Union Budget 2024: The All India Federation of Tax Practitioners (AIFTP) has called for a 10% exemption limit on personal income tax in the upcoming Union budget. The tax structure should be simplified to ease compliance. The AIFTP president also suggested eliminating the surcharge and cess, arguing that the government's failure to explain how the education cess is used is unjustified.

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Uncover the latest trends in expense management for small and medium-sized businesses. Our 5th Annual Trends Survey reveals that corporate card use is skyrocketing, but expense software isn't keeping up. This mismatch is creating real challenges for finance teams, who now take an average of 14 days to close their books. Travel policies are shifting to accommodate hybrid work, but many companies are struggling with off-tool bookings.

Finance

CFO News

JULY 14, 2024

Startups in India have high expectations from this year's upcoming Union Budget. The early-age startups expect the removal of angel taxes, whereas the health tech startups expect increased funding for the sector.

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CFO News

JULY 14, 2024

Kotak Mahindra Bank's new chief emphasizes tech transformation despite RBI ban. Auditors highlight IT system complexities affecting financial reporting. Industry experts link RBI actions to the bank's 811 offering success. The bank shows growth in customer base and financial metrics.

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CFO News

JULY 14, 2024

Governance risks in red herring prospectuses include promoters in similar businesses, high related party transactions such as Cello World’s 53% FY23 revenue, regulatory investigations, and Emcure Pharma’s US antitrust cases. Allied Blenders reports statutory dues delays with interest payments, and missing corporate filings suggest documentation gaps.

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CFO News

JULY 14, 2024

India's retail inflation is projected to stay under 5.0 per cent for the rest of 2024-25, aside from September, as per SBI Research. June saw an increase in inflation to 5.08 per cent, led by higher food costs. States like Odisha, Bihar, and Karnataka had inflation rates surpassing the national average. SBI Research anticipates the RBI to reassess its policy stance around September due to declining US inflation potentially prompting a rate cut.

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Speaker: Duke Heninger

With the rise of fractional finance roles, many CFOs, FP&A professionals, controllers, and accountants are stepping into independent consulting. The expansion of fractional services presents new opportunities for finance professionals, but many face challenges in navigating this transition, finding it daunting. Whether you’re new to fractional work or refining your approach, this webinar will equip you with a repeatable system for success.

CFO

CFO News

JULY 14, 2024

Budget 2024: Consultancy firm KPMG anticipates changes in the upcoming Union Budget, including doubling standard deduction to Rs 1 lakh, increasing tax breaks on housing loan interest, and rationalizing capital gains tax regime. The focus is on enhancing disposable income and promoting home ownership through tax reforms.

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CFO News

JULY 14, 2024

Sumer Juneja will join Oravel Stays Ltd as non-executive director, pending EGM approval, representing SoftBank Vision Fund. OYO, backed by SoftBank, reported Rs 100 crore profit in FY 2023-24, per founder Ritesh Agarwal. The board includes Aditya Ghosh, Dr. Deepa Malik, Troy Alstead (ex-COO of Starbucks), and W Steve Albrecht. SoftBank aims to boost OYO globally.

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CFO News

JULY 14, 2024

Both net profit and revenues of Nifty 50 firms are seen in single digits in the June quarter as advantages of lower commodity prices and demand rise fade.

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