Mon.Dec 04, 2023

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5 focal points for future-ready CFOs

CFO Dive

Step into the future with CFOs as they navigate a rapidly transforming financial landscape, where ESG metrics take center stage, GenAI shapes business planning and CFOs grapple with intensified priorities in data security, inflation and talent management.

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At 56.9, India’s services sector growth drops to one-year low in November

CFO News

Despite a slowdown to a one-year low in the S&P Global India Services Purchasing Managers' Index at 56.9, the sector remains resilient, showcasing a notable surge in output and maintaining optimism for the future.

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Trending Sources

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Tesla CFO sells shares as Musk draws new scrutiny

CFO Dive

A spotlight is on the EV maker as investors weigh recent controversial comments from CEO Elon Musk and a lukewarm launch of its Cybertruck product.

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2,623 wilful defaulters owe Rs 1.96 lakh crore to banks

CFO News

According to information provided by the Reserve Bank of India (RBI), 2,623 unique borrowers who are classified as wilful defaulters. These borrowers have a total outstanding debt of Rs 1,96,049 crore with scheduled commercial banks as of March 2023. The data pertains to borrowers with aggregate exposures of Rs 5 crore and above.

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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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PCAOB fines 2 PwC firms in China over test cheating

CFO Dive

The enforcements are among the first three stemming from access the U.S. auditing watchdog secured last year to inspect China-based auditing firms.

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More Trending

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Defined benefit investing strategies have grown more complex. Here’s how.

CFO Dive

Moving away from defined benefit plans as the primary retirement program doesn’t require terminating the plan outright.

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The Latest In Financial #AdvisorTech (December 2023)

Nerd's Eye View

Welcome to the December 2023 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors! This month's edition kicks off with the news that Black Diamond has announced the launch of its own CRM system, targeting advisors at mid-size firms who have data complexity and workflow needs greater than what more basic CRM options can accommodat

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Payments processor Tipalti investigating ransomware attack

CFO Dive

The Alphv ransomware group claimed responsibility for the attack on Saturday and threatened to extort Tipalti customers with allegedly stolen data.

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ION recognized by IDC FinTech Rankings as a FastTrack FinTech company

Reval

LONDON – 1 December 2023: ION, a leading global provider of trading, analytics, The post ION recognized by IDC FinTech Rankings as a FastTrack FinTech company appeared first on ION.

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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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3 ways AI is reinventing scenario planning

CFO Dive

Manual scenario planning can no longer keep pace. Use AI for faster, driver-based modeling.

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Three actions organisations must take on sustainability

Future CFO

Looking forward to 2024, finance leaders must gear up for the new challenges the new year will bring. Along with challenges, of course, come opportunities for business growth and expansion. Sustainability and sustainability reporting have been proven to be getting the attention of various organisational heads as these open doors for improvement and strategies.

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US examined Hindenburg allegations before giving loan to Gautam Adani group

CFO News

The US government extended a $553 million loan to Gautam Adani's conglomerate for a container terminal in Sri Lanka despite allegations of corporate fraud by Hindenburg Research. The International Development Finance Corp (DFC) conducted a due diligence investigation and concluded that the accusations in the short-seller's report were not applicable to Adani Ports & Special Economic Zone Ltd, the subsidiary leading the Sri Lankan project.

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CFOs: Will you outsource cybersecurity?

Future CFO

Will you outsource cybersecurity? According to Kaspersk y , more than one in two companies in Asia Pacific plan to outsource cybersecurity. In addition, 77% of companies in the region suffered at least one cyber incident in the last two years, said Kaspersky when releasing results of its recent survey that collected responses from 234 respondents in Asia Pacific.

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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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JSW Infrastructure to buy majority stake in PNP Port for ?270 crore

CFO News

JSW Dharamtar Port, a wholly-owned subsidiary of JSW Infrastructure, has signed an agreement to purchase 50% of PNP Maritime Services, which is held by SP Port Maintenance, a Shapoorji Pallonji group company.

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The future of sustainability reporting

Future CFO

As the world veers toward a new year, it is important that finance leaders know what to expect in the field of sustainability reporting , given that this particular area has gained the spotlight especially during the latter part of 2023. Ernst & Young 's Climate Risk Disclosure Barometer, which seeks to identify the trends, opportunities, and key issues facing businesses in relation to climate change, dives deep into the key elements impacting climate-related reports in the coming years.

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No relaxation in borrowing terms for states, says Finance Minister Sitharaman

CFO News

“Presently, there is no proposal to relax the existing terms for borrowing capacity of the State Governments including the Government of Kerala,” Sitharaman said in response to a question on whether the government is considering to relax borrowing terms for the state of Kerala.

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FCF Biotech Venture Capital Monitor – USA 10/2023 published

Fox Corporate Finance

FCF Fox Corporate Finance GmbH is delighted to publish the new “FCF Biotech Venture Capital Monitor – USA 10/2023”. The Monitor is a monthly published overview of venture capital trends in the US-Biotech sector. As. Read more The post FCF Biotech Venture Capital Monitor – USA 10/2023 published appeared first on FCF Fox Corporate Finance GmbH.

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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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L&T Finance Holdings' merger to pare costs, free up Rs 3,000-cr funds

CFO News

The company will also apply for a change of name to L&T Finance to the Reserve Bank of India (RBI), the brand name that it is known in the market, chief financial officer (CFO) Sachinn Joshi said.

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10 Monday AM Reads

Barry Ritholtz

My back-to-work morning train WFH reads: • 7 Deadly Stocks : Mega cap tech got destroyed in 2022. Google fell -46%, Amazon -56%, Nvidia -66%, Facebook -77%. An equal-weighted Mag7 portfolio had a 48% drawdown in 2022. You can’t talk about 2023 without looking at 2022. Over the last two years, the Magnificent 7 has barely beaten the S&P 500. ( Irrelevant Investor ) • Inflation Is Your Fault : If people are so mad about high prices, why do they keep buying so many expensive things?

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Bira91 parent plans a Rs 400-cr fund shot for expansion plans

CFO News

The fresh fundraise comes at a time when the Indian beer market is forecast to almost double to $10 billion in a decade. This is expected to come from robust out-of-home demand at bars, restaurants, hotels, younger consumers, an evolving retail environment and new flavours and innovation in craft beers. The increase will come despite the Indian alcobev market being heavily taxed and pricing being controlled by individual state governments.

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Big relief to Apollo Tyres as Supreme Court dismisses Sebi appeal

CFO News

In 2018, Sebi had penalised Apollo Tyres on the grounds that 6.90 lakh shares of Apollo Tyres were bought back by the company and its promoters in contravention of the relevant section of the Companies Act and Sebi regulations. A bench led by Justice Sanjiv Khanna during the hearing pulled up Sebi for appealing against the SAT orders and also asked it to give a list of appeals that it had filed against the tribunal's orders.

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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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Sebi fined for 'Lackadaisical' approach in Kirloskar case

CFO News

"This lackadaisical approach by Sebi is contrary to spirit of Sebi Act.we find that the interest of the investors, namely, the appellants were least considered and apathy was writ large," read the SAT order.

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India’s corp bond market set to cross Rs 100 lakh-cr by FY30: Crisil

CFO News

The rating agency expects the outstanding size of the corporate bond market to grow from Rs 43 lakh crore in the previous fiscal year to Rs 100-120 lakh crore by 2029-30, providing much-needed depth in fund-raising opportunities for companies through debt. Over the past five financial years, the corporate bond market has registered a compound annual growth rate of 9%, CRISIL said in a report.

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India's Bioeconomy to touch $ 300 Billion by 2030: Union Minister Jitendra Singh

CFO News

India’s bioeconomy witnessed a double-digit growth rate year-on-year in the last 9 to ten years. The world is looking up to India as an emerging biomanufacturing hub. Biotechnology startups and institutional linkages with industry will drive India’s bioeconomy in the years to come, stated Dr Singh at the 3rd edition of the Global Bio-India summit.

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Avg monthly GST mop-up at Rs 1.66 lakh cr so far this fiscal: FM Nirmala Sitharaman

CFO News

Finance Minister Nirmala Sitharaman said in the Lok Sabha that the Goods and Services Tax (GST) collection has consistently increased on an annual basis since its introduction on July 1, 2017. The average monthly GST collection for the current fiscal is Rs 1.

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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.