Wed.Nov 29, 2023

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For GenAI-backed accounting, CFOs can’t ‘learn as you go’

CFO Dive

CFOs need to develop a business-wide plan for GenAI’s use, create clear data practices and ensure accountability to incorporate the technology into accounting effectively.

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This is the end

The Reformed Broker

Ladies and gentlemen, this is the final post I will be publishing at The Reformed Broker. After today the site will be inactive, forever. I began this blog in November 2008 without any idea where it would take me. I had a negative net worth, was working at a dead-end brokerage firm job and absolutely no career prospects whatsoever – a washed up stock broker at 31 years old in the middle of a global financial crisis.

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Trending Sources

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Health care benefit costs surge 9.8%: WTW

CFO Dive

High inflation and strains from COVID-19 prolonged a trend of rising medical care costs.

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Global slowdown could impact demand in India, says Assocham Secretary General

CFO News

ASSOCHAM's Deepak Sood flags the risks of global economic slowdown impacting India's demand and exports. He also notes domestic challenges like uneven monsoons and rising interest rates. Despite concerns, Sood projects India's growth at over 6.5 epr cent, emphasizing resilience.

Economics 116
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The Growth Architect: How Financial Leaders are Unlocking Potential

Speaker: Ashley Harlan, MBA

What if your role as a fractional CFO went beyond operational support to actively shaping the future of your clients’ businesses? 💼 ✨ In this session, discover how fractional finance professionals can position themselves as architects of growth, guiding their clients toward sustainable success and preparing them for full-time financial leadership.

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AMC Networks expects ‘no material impact’ from Hollywood strikes

CFO Dive

Despite now-resolved labor strikes that brought Hollywood to a standstill, AMC Networks is “set up well going into 2024,” CFO Patrick O’Connell said.

CFO 286

More Trending

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MGM CFO expects insurance to cover cyberattack costs

CFO Dive

The Las Vegas-based casino and resort operator has pegged the costs of the September cyberattack that temporarily crippled operations at about $100 million.

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Govt invites fresh bids from asset valuers of IDBI Bank

CFO News

The central government has issued a fresh Request for Proposal (RFP) for the appointment of an asset valuer for the strategic sale of IDBI Bank. The last date for submitting bids is January 5, following the cancellation of the previous bid process due to low bidder interest.

Banking 52
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Ralph Lauren veteran takes CFO job at Vince

CFO Dive

John Szczepanski takes on a role that has had significant turnover in recent months, as the struggling brand embarks on a turnaround.

CFO 147
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Report on Zee Sony merger risks collapse incorrect, clarifies Zee Entertainment

CFO News

Zee Entertainment has refuted a news report claiming that the Sony-Zee merger risks collapsing due to an eleventh-hour CEO drama. Zee stated that the report is "factually incorrect" and reiterated its commitment to working towards the successful closure of the proposed merger as per the approved Composite Scheme of Arrangement.

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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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Q&A with finance leader: Lead with context, coach with content

Future CFO

Editor’s note: Kris Giswold (pictured), Senior Vice President, Finance, Asia Pacific, Middle East & Africa (AMEA), at Mondelez believes that female leaders can bring a diverse perspective and lens to the table to help companies make better decisions. The interview is part of FutureCFO's Fem ale Leadership in Finance Series. Kris Giswold, Senior Vice President, Finance, Asia Pacific, Middle East & Africa, Mondelez FutureCFO: When did you start to become interested in finance?

Finance 52
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HCL inching close to chip unit in Karnataka, investment estimated at $400 million

CFO News

The facility will be "small-to-medium sized" with an estimated investment of about $400 million, they added. The group — best known for its $12.6 billion IT arm HCLTech — is in active talks with the state government, which has offered land both near the international airport in Bengaluru as well as in Mysuru.

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How finance leaders can prevail over data chaos

Future CFO

Harnessing data gathered from various channels can be helpful in a finance leader's operational skills as this enables him to look into various trends in a particular area of business. This in turn allows him to make better decisions in times of crucial moments for the organisation. But even though technological advancements have been popping up left and right especially after the COVID-19 pandemic situation, it is still a challenge for leaders in the financial function to prevail over data chao

Finance 52
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Income tax payable on winnings from online, offline games of chance

CFO News

E-commerce websites like Amazon, CRED, others oftentimes runs free to play gaming contests like spin-the-wheel and others. For the purpose of income tax these games are a game of chance and are taxed at flat 30% rate plus cess, etc. Nonetheless there are some things to consider if an individual has won prizes by playing similar offline or online games.

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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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How is Your Nonprofit Funded?

CFO Selections

Do you truly understand how your organization is funded? And do know why it matters that you do? Unfortunately, too often nonprofit leaders and board members only have a vague sense of how their organizations are funded and what that means for furthering their missions. This is a problem because funding is an integral part of an organization’s success , and the right funding mix is essential for the growth and maintenance of any nonprofit.

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Fema breach: ED flags failure to submit papers, delays by Byju’s

CFO News

​​ET on November 21 reported online that ED confirmed issuing showcase notices for alleged violations of the Foreign Exchange Management Act (Fema) amounting to Rs 9,362 crore by Think & Learn and Raveendran.

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The Future of Syndicated Lending Demands Specialized Technology

CS Lucas

Syndicated lending has grown rapidly over the past decade to become an essential source of financing for large corporations and institutions. Under a syndicated loan structure, a group of banks join together to provide credit facilities and distribute risk across multiple lenders. Whereas a single bank may only be able to commit a few hundred million dollars, a syndicate can offer billion-dollar credit lines and term loans.

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Azure Power looks to buy back $60-M offshore bonds at par

CFO News

The move to buy back shares is seen as an attempt by the company to boost investors' confidence, which suffered a setback after its shares were delisted in July by the New York Stock Exchange due to its failure to disclose FY22 annual audited results within the mandated deadline. It eventually published its results on October 12, 2023.

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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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How Bullish Were You in 2011?

Barry Ritholtz

I have a vivid recollection of the period following the Great Financial Crisis: I spent March to September of 2008 writing Bailout Nation and the post-Lehman collapse revising and updating the manuscript. The first two months of ‘09 were spent editing, and off I went on a well-deserved vacation in late February. When I finally came up for air, markets had been cut in half (peak to trough down 56%) and every sentiment indicator I tracked was the most extreme they’ve been in my professional

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Working towards completing merger deal with Sony: ZEEL

CFO News

Zee Entertainment Enterprises has reaffirmed its commitment to completing the planned merger with Culver Max Entertainment, Sony Group Corporation's media unit in India. Responding to stock exchanges, ZEEL stated that it is actively working towards the successful closure of the merger, dismissing as factually inaccurate a Bloomberg article suggesting potential obstacles to the deal.

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10 Wednesday AM Reads

Barry Ritholtz

My mid-week morning train reads: • Charles T. Munger, Much More Than Warren Buffett’s No. 2, Dies at 99 A billionaire himself, he was the witty vice chairman of Mr. Buffett’s powerhouse investment firm Berkshire Hathaway. But he had far more influence than his title suggested. ( New York Times ) sse also Charlie Munger, Warren Buffett’s Partner and ‘Abominable No-Man,’ Dies at 99 As Berkshire Hathaway vice chairman, his sharp wit dazzled generations of investors. ( Wall Street Journal ) • Is Sh

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Free foodgrain scheme gets five-year extension; to cost Rs 11.8 lakh cr

CFO News

The Union Cabinet has approved the extension of the PM Garib Kalyan Anna Yojana (PMGKAY) for another five years, starting from January 1, 2024. The scheme, launched in 2020 during the COVID-19 lockdown, provides 5 kg of free food grains (rice, wheat, and millets) per month to approximately 800 million poor people under the National Food Security Act.

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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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Infra industry must work three shifts to complete projects: Narayana Murthy

CFO News

In a fireside chat with Zerodha co-founder Nikhil Kamath, Murthy said India needed to take quick decisions in infrastructure-related projects vis-à-vis China’s development.

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India's antitrust body names new interim investigations head

CFO News

Sanjay Kumar Pandey has worked at the Competition Commission of India (CCI) for almost 14 years and is also an adviser in its advocacy and international cooperation division. He will now take on additional responsibilities as the Director General of the investigations unit, said an internal order dated Nov. 25 seen by Reuters.

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Corporate debt servicing improves despite higher interest cost

CFO News

Despite a 60 basis point (0.60 percent) increase in policy rates between September 2022 and September 2023, corporate debt servicing, as measured by the interest coverage ratio (ICR), improved from 4.49 in September 2022 to 5.64 in September 2023. This suggests that higher lending rates have not negatively impacted the debt-servicing capacity of Indian firms.

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India's growth to slow down further to 6.1% in FY25

CFO News

The Organisation for Economic Co-operation and Development (OECD) predicts that India's economy will slow down further to 6.1% in FY25 compared to the earlier projection of 6.3%. The slowdown is attributed to adverse weather-related events and a weakening international outlook. However, the OECD expects India's growth to pick up to 6.5% in FY26.

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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.