Wed.Sep 04, 2024

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The Startup Tax Deduction: Probably Won’t Help your Startup

CFO Share

Presidential candidate Kamala Harris is proposing a 10x expansion of the Startup Tax Deduction , from $5k to $50k, to promote the creation of small businesses. While this sounds great as a headline, our fractional CFOs greeted it with a yawn. At CFOshare, we rarely see the Startup Tax Deduction making any material difference for new businesses. To being, the Startup Tax Deduction only applies to brand new businesses, not established startups.

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New ADM CFO to tackle ‘root cause’ of material weakness

CFO Dive

Just weeks into his CFO tenure, Monish Patolawala said he’d prioritize remediating the accounting woes that have rocked the company this year.

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Trending Sources

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Brazil Central Bank President Campos Neto Sees Trade Friction As Big Risk To Global Economy

Global Finance

Global Finance magazine interviewed Brazil Central Bank President Roberto Campos Neto, who has been at the helm since February 2019. In recognition of his leadership in managing Brazil’s monetary policy, Campos Neto earned an “A” grade in the magazine’s 2024 Central Banker Report Cards, announced in August. He also received an “A” in 2023’s report card.

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August tech layoffs surpassed 26K, highest level since January

CFO Dive

Tech job cuts are continuing to pile up as industry leaders zero in on objectives such as freeing up capital to fund AI initiatives.

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4 Things Great Companies Do to Improve Cash Flow

Speaker: Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

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CFOs: Changing Of The Guards

Global Finance

Call it “the CFO shuffle.” Top finance leaders are shifting from one company or position to another—or opting for retirement—at a faster rate. That’s according to the latest data from Russell Reynolds Associates, which specializes in executive searches. This year saw increased levels of turnover, with the proportion of outgoing finance chiefs reaching 8.9% globally from January to June.

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Remembering Bob Brinker … and his life-changing advice

Tips Watch

By David Enna, Tipswatch.com January 26, 1986, was a big day in my life. The Chicago Bears, my longtime favorite team, were playing in the Super Bowl.

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August tech layoffs surpassed 26K, highest level since January

CFO Dive

Tech job cuts are continuing to pile up as industry leaders zero in on objectives such as freeing up capital to fund AI initiatives.

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Latin America: Stablecoin Race Heats Up

Global Finance

The race for Latin America’s massive stablecoin market has become more competitive. Following the successful launch of Circle’s proprietary USDC via behemoth banks BTG Pactual and Nubank in March, the unicorn Latin American startup Mercado Libre has rolled out its commission-free dollar-backed stablecoin, the Meli Dolar. Pegged 1-to-1 to the US dollar, the Meli Dolar aims to leverage the electronic marketplace’s significant presence in Brazil to establish a dominant position in the country.

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Rite Aid exits bankruptcy, promotes CFO to CEO

CFO Dive

Chief Financial Officer Matt Schroeder will take over the CEO post from restructuring officer Jeffrey Stein.

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The Financial Leaders Playbook: How To Deliver Insight, Oversight, And Foresight

Speaker: Chandra McCormack, CPA, MBA, NACD.DC

Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.

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Hong Kong Bank Regulator Updates GenAI Guidelines

Global Finance

To avoid bias in customer-facing banking applications, the Hong Kong Monetary Authority (HKMA) issued new generative artificial intelligence (GenAI) guidelines as more banks adopt such technologies. In a mid-August notice, the territory’s de facto central bank said financial institution boards and senior management should “remain accountable for all the GenAI-driven decisions and processes.

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8 Benefits of Conducting a Business Financial Assessment

CFO Selections

Asking, “How can a financial assessment help us?” is the first step to getting a better handle on your organization’s finances. A business assessment is a financial checkup that evaluates the efficacy of critical financial functions like reporting and forecasting while analyzing people, processes, and tools. The findings that result can serve as a roadmap for the organization’s strategic planning initiatives.

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Kuwait: Boubyan, Gulf In Merger Talks

Global Finance

Kuwait lenders Boubyan Bank and Gulf Bank—the emirate’s third- and fifth-largest banks—have disclosed they are in preliminary talks that may lead to a merger. If the merger goes ahead, it will create an Islamic bank with assets of around $53 billion and about a 15% market share measured by consolidated assets, Fitch Ratings said in a note last month.

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Using Digital Estate Planning Platforms To Complement Attorney And Advisor Roles

Nerd's Eye View

As digital software solutions become more sophisticated (and new ones continue to roll out at breakneck speed), they may offer relief with what they offer but, at the same time, they may also introduce a burden for the user to vet and review the results to ensure that it actually provides the 'correct' output. When it comes to digital estate planning solutions tools, this particular burden is amplified not only because of the many clients who need an estate plan (with about 2/3 of Americans esti

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How Unify Turned Month-End Mayhem Into a Growth Party With Automation!

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.

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Bajaj Electricals targets Rs 300 crore export revenue and doubling of in-house manufacturing by FY27, says CFO EC Prasad

CFO News

Bajaj Electricals has leveraged efficiencies from Artificial Intelligence and Machine Learning in its finance department, reducing staff from 300 to over 90, said CFO EC Prasad.

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In Conversation with Andreas Burner, Chief Technology Officer and Head of Product Management at SmartStream

Global Finance

Joseph Giarraputo, the Founder and Editorial Director of Global Finance, talks to Andreas Burner, Chief Technology Officer and Head of Product Management at SmartStream, about the increasing role AI is playing in the financial services sector. SmartStream, which has been recognized by Global Finance as an innovator in providing transaction management solutions for the past four years, takes a holistic view of AI, by working closely with end users and developers to create successful applications

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Etail, logistics companies prepare package for non-metro boom

CFO News

"Ekart is building the supply chain for India and carries the mission of democratising ecommerce for all brands," said Mani Bhushan, chief business officer at Ekart. "Ekart is well-established and will continue to deepen presence in tier II-III supply chains and beyond." These include last-mile delivery and bulk cargo pickups from brands and manufacturers.

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In Conversation with Andreas Burner, Chief Technology Officer and Head of Product Management at SmartStream

Global Finance

Joseph Giarraputo, the Founder and Editorial Director of Global Finance, talks to Andreas Burner, Chief Technology Officer and Head of Product Management at SmartStream, about the increasing role AI is playing in the financial services sector. SmartStream, which has been recognized by Global Finance as an innovator in providing transaction management solutions for the past four years, takes a holistic view of AI, by working closely with end users and developers to create successful applications

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How to Select the Perfect Payments Partner: 7 Keys for Sustainable Growth

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

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India Inc extends gender diversity push to temporary hiring for festive season

CFO News

India Inc is pushing for gender diversity in temporary hiring during peak periods like the festive season. Sectors such as ecommerce, logistics, retail, and BFSI are actively onboarding more women workers. Companies are offering flexible hours, transportation, and skill development programs to attract female talent, with safety measures being significantly enhanced.

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The Logic of Finance, Enhancing Decision Quality through Critical Thinking

CFO Talks

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Lower GST on insurance likely to come with caps

CFO News

The committee is not in favour of a blanket GST exemption on life and health insurance premiums, said people aware of deliberations. It's likely to give a detailed report on the revenue impact under different rate scenarios for insurance products to the GST Council, which is scheduled to meet on September 9.

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At the Money: The Best Way to Buy a House Right Now

Barry Ritholtz

The Best Way to Buy a House Right Now with Jonathan Miller , Miller Samuel (Sept 4, 2024) Buying a house in today’s climate can be challenging. Interest rates are near the highest level in 20 years. Housing inventory is near record lows. So what’s a potential home buyer to do? Jonathan Miller, President of Miller Samuel, discusses the best approaches for purchasing a home today.

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2024 Annual Trends Survey: Expense Management Insights

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.

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Govt extends export credit scheme by a month to Sept 30

CFO News

The government has extended the interest equalisation scheme on pre- and post-shipment rupee export credit for MSME manufacturing exporters until September 30. This extension aims to support India's outbound shipments by providing competitive rates amid global economic challenges. The scheme, which ended on August 31, was previously extended in June for two months.

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Growing Demand For Chief AI Officers

Global Finance

There is a new C in the executive suite, the chief artificial intelligence officer (CAIO). In March, the White House announced that all federal agencies had to appoint a CAIO so that the government would stay on top of AI developments. Vice President Kamala Harris gave a legal framework to the mandate: “Make sure that AI is used responsibly,” she said.

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Will SEBI get savvy, or shut its gate?

CFO News

Madhabi Puri Buch, the first private sector head of Sebi, faces scrutiny over alleged conflicts of interest. The article discusses the need for stricter regulations to address potential conflicts and suggests that appointing bureaucrats without regulatory changes could be short-sighted. The debate continues on whether private sector leaders should helm Sebi.

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1,030: Leveraging Global Expertise to Shape ADP’s Financial Future | Don McGuire, CFO, ADP

CFO Thought Leader

In 2021, ADP’s HR leader reached out to Don McGuire, then the company’s globe-trotting EMEA president, to gauge his interest in stepping into the firm’s CFO role. McGuire was surprised, inasmuch as it had been nearly two decades since he had veered off the traditional finance career track. During this interim, McGuire had taken on various global leadership roles far removed from the typical CFO pathway.

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Unlock The Power Of The CFO Toolkit

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.