Wed.Dec 13, 2023

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The 9 to 5 Exodus

Beacon CFO Plus

Why People Are Leaving Traditional Roles to Be Fractional Executives Nearly four years out from the start of COVID-19, the workplace continues to change. A Women in the Workplace study (by LeanIn.Org and McKinsey & Company) shows that women leaders are “leaving corporate America at the highest rate in years,” citing stress and burnout, a lack of flexibility, and limited advancement opportunities.

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Fed holds main rate steady, signals deeper cuts to borrowing costs in 2024

CFO Dive

Policymakers paused monetary tightening for the third consecutive meeting as traders in interest rate futures bet the Fed will begin easing in the spring.

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Trending Sources

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Understanding the Differences Between MRP and ERP (with Examples)

Navigator SAP

Manufacturing startups and businesses looking to upgrade their manufacturing systems have probably run across both material requirements planning solutions (MRP) and enterprise resource planning solutions (ERP). The two often come up in the same conversation when talking about backend manufacturing technology, and they overlap quite a bit.

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Booking snaps up S&P Global CFO

CFO Dive

Ewout Steenbergen will leave S&P Global in March to replace Booking’s retiring finance chief.

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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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Lessons of “Number Go Up”

Barry Ritholtz

Tyler Cowen and his colleague Alex Tabarrok write some interesting posts over at Marginal Revolution. Sometimes I agree with them, sometimes I disagree with them. Recently, a post utterly perplexed me: “One doesn’t get a favorable impression of crypto from Number Go Up but in fact one doesn’t learn much about crypto at all. Indeed, Faux’s book isn’t really about crypto it’s about the rise and collapse of a bubble and the consequent madness of crowds.

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More Trending

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Preserving HSA Eligibility And Maximizing Contributions After Age 65

Nerd's Eye View

Although numerous tax-advantaged vehicles are available for retirement savings, Health Savings Accounts (HSAs) have particular benefits for individuals saving for retirement. Specifically, HSAs offer a "Triple Tax Benefit" that includes tax-deductible contributions, tax-deferred growth, and tax-free withdrawals for qualified medical expenses. This can allow individuals to save a significant amount that can be withdrawn tax-free for medical expenses later in retirement.

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Plan capex now, no rate cut expected soon: BoB Chief Economist urges CFOs

CFO News

Bank of Baroda's Chief Economist, Madan Sabnavis, advises CFOs on strategic capital expenditures amid optimal capacity levels and foresees no rate cut until August 2024, citing inflation projections and economic nuances.

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Outsourced vs In-House Bookkeeping

CFO Share

In the day-to-day hustle of running a business, bookkeeping often lands in the “necessary but not thrilling” category for most CEOs and business owners. While not the most glamorous aspect of business financial management, accurate bookkeeping is crucial for maintaining financial health and compliance. However, the real challenge isn’t just about keeping the books in order; it’s about choosing a reliable and efficient team that isn’t a distracting headache for you.

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UK economy shrinks, raises risk of recession

CFO News

It was the first time since July that GDP had shrunk on a month-by-month basis. Sterling fell by about a third of a cent against the US dollar and was weaker against the euro too. Investors added to their bets on the BoE starting to cut interest rates in June 2024, and the yield on 10-year British government bonds fell to its lowest since May.

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

Speaker: Amanda Adams, Fractional CFO, CPA

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, 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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EV sales value across ASEAN-6 expected to hit US$80B-US$100B by 2035

Future CFO

Electric vehicle (EV) sales value across ASEAN-6 countries are expected to hit US$80 billion to US$100 billion by 2035 from sales volume of 8.5 million units, a study by EY-Parthenon says. The EY-Parthenon study assessed the EV value chain to understand the consumer awareness and sentiments as well as infrastructure and government policies across the ASEAN-6 markets to determine the market readiness, opportunities and potential for companies and investors.

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India's wholesale prices in November rise 0.26%; rebounds from negative territory after seven months

CFO News

India's wholesale inflation surged to 0.26 per cent in November, marking a significant shift from seven consecutive months in negative territory. The rebound is attributed to heightened demand, particularly fueled by the festive season.

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Retail CFOs: Will you revise your cybersecurity budget?

Future CFO

When it comes to cybersecurity budget, retail CFOs in Asia Pacific might have to reconsider the amount of resources allocated to this area. According to a recent study by Kaspersky , the retail industry experienced the greatest number of successful cyberattacks in the past 24 months in Asia Pacific. The latest survey—with responses from 234 participants—also revealed 19% of companies in the region have experienced cyber incidents due to insufficient cybersecurity budget in the last two years, th

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Fed holds rates steady again and pivots toward cuts in 2024

CFO News

Officials decided unanimously to leave the target range for the benchmark federal funds rate at 5.25% to 5.5%, the highest since 2001. Policymakers penciled in no further interest-rate hikes in their projections for the first time since March 2021, based on the median estimate.

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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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Outsourced Bookkeeping Services

CFO Share

Grow confidently with our reliable bookkeeping team. Feeling overwhelmed with financial details and paperwork? Our outsourced bookkeeping services are your ticket to peace of mind. You Deserve Robust Financials The endless drudgery of bookkeeping is boring yet critical. You need data to make informed decisions. Accurate bookkeeping isn’t just a necessity—it’s the backbone of strategic decision-making.

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VRL begins process to rejig $3.8-billion bond repayments

CFO News

As part of the plan, Vedanta Resources is to pledge 13% of its stake in Vedanta Ltd (VDL) to secure a $1.25 billion financing package from a group of lenders led by Standard Chartered Bank and New York-based Cerberus Capital Management to help avert a default on $1 billion of bonds that are due in January, according to people familiar with the matter.

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FP&A Software Cube faces “turmoil” after high profile exits and staff turnover

The Finance Weekly

FP&A Software Cube is reportedly in “turmoil” after suffering a spate of high profile exits and ongoing turnover, according to ex-employees at the company. Former Cube employees, speaking on the condition of anonymity, revealed that the New York-based FP&A solution recently let go of their Head of Sales and Head of Product The company is increasingly run by the company’s CEO Christina Ross and her head of Human Resources, the sources claim.

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SC asks ITC, Britannia to resolve dispute over butter cookies packaging

CFO News

Observing that both companies make premium products that are consumed by everyone, a bench led by Justice Sanjiv Khanna said that “it will be better if (the companies) can talk to each other" and resolve the issue. It also posted the matter for further hearing January.

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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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10 Wednesday AM Reads

Barry Ritholtz

My mid-week morning train reads: • Things You Don’t See in A Recession. Incredibly, many strategists and economists continue to say we are headed for a bear market and a recession in ’24. That’s right, it is Outlook season and some of the forecasts for ’24 have been quite dour.

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ADB raises India's FY24 growth forecast to 6.7%

CFO News

In its latest report on outlook for developing Asia, the multilateral lender, retained its India growth forecast for FY25 at 6.7%. Recognising accelerated growth momentum, the RBI this month raised its FY24 growth projection for India to 7% from 6.5%, while Nomura increased it to 6.7% from 5.9%, Citigroup to 6.7% from 6.2% and DBS to 6.8% from 6.4%.

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Trump holds responsibility for GAAP compliance, NY AG expert said

CFO Dive

The Trump Organization is ultimately responsible for ensuring their financial statements are compliant, rather than their accountants, professor of accounting Eric Lewis said.

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In works: Rs 10,000 crore sop scheme for chip ancillaries

CFO News

The pari-passu or equal footing method for disbursal of incentives is one where the government releases the funds to successful applicants as and when they invest or achieve certain milestones.

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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

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Climate pledge by 200 nations seeks to 'transition away from fossil fuels'

CFO News

The president of COP28 had consistently stressed his intention to supercharge climate action. Even as it signals progress, the UAE Consensus hass loopholes that allow oil and gas exporters the space to continue operations, observers said. Countries agreed that "transitional fuels," a euphemism for gas, "can play a role in facilitating the energy transition while ensuring energy security." This free pass for the expansion of gas production is a particular blow, given that the asso

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NCLT allows Reliance Communications to substitute its resolution applicant

CFO News

“The said application was last listed before the NCLT on December 12, 2023, for pronouncement of order, and the NCLT orally pronounced its order, vide which it has allowed the said application,” Rcom said in a regulatory filing Wednesday.

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Wipro Consumer Care expands horizons: Enters D2C space with Bio-essence, plans FMCG start-up investments

CFO News

Wipro Consumer Care and Lighting is expanding its direct-to-consumer (D2C) business with its global brand Bio-essence, targeting the premium segment in India. The company plans to launch ethnic ready-to-cook breakfast and South Indian snacks, targeting the premium segment in areas like facial care, cleaners, moisturizers, and toners.

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Accommodation with amenities is in the nature of hostel facilities, GST at 12% applies holds AAR

CFO News

The GST-Authority for Advance Ruling (GST-AAR), Karnataka bench examined the GST implications of renting residential accommodation to students and working women. Deeksha Sanjay, a proprietor engaged in the business of renting residential dwellings, sought a ruling on whether the renting of residential dwellings along with amenities would be exempt under Entry No 12 of Notification No.12/2017.

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Solve Your Firm's Automation Complexities Once and For All

Speaker: Mark Stovel

When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.