Fri.Aug 16, 2024

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The Importance of ERP for Research Management

Navigator SAP

Life Sciences businesses are relatively unique. They have long lead times between investments and commercialization, leading to unpredictable revenue streams and cash flow gaps. The cost of research and development also can be a significant drain on resources, requiring precise tracking and allocation so budgets stay in line.

Budgeting 203
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PCAOB says deficiencies rise among reports by audit firms

CFO Dive

Inspections of nearly half of the firms’ engagements reviewed by the PCAOB revealed evidence that the auditor failed to obtain enough evidence to support its opinion.

Auditing 289
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Anglo American’s Big Restructuring Aims To Refocus Mining Giant 

Global Finance

The rattled corporation faces a rocky road through a wide-ranging restructuring, but some analysts see a more competitive company emerging. Century-old global mining-and-metals conglomerate Anglo American plc has been on a roller coaster since the end of May, when it dramatically cut off merger talks with rival BHP and instead announced a sweeping restructure of its portfolio.

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Building constructive partnerships to drive digital transformation

CFO Dive

Effective digital transformation today means making a much deeper commitment than just buying a new IT product or upgrade, AICPA’s Tom Hood writes.

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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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Weekend Reading For Financial Planners (August 17-18)

Nerd's Eye View

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the Securities and Exchange Commission (SEC) announced that a total of 26 broker-dealers, investment advisers, and dually-registered firms agreed to pay combined civil penalties of almost $400 million for failing to maintain and preserve required records for "off-channel" communications, signaling the regulator's interest in cracking down on text messages and other communi

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Govt eases cross-border share swap rules to woo foreign money

CFO News

India updated its foreign investment regulations to facilitate cross-border share swaps and exclude certain OCI investments from being considered as indirect foreign investment. The amendments aim to attract more investment, particularly in startups, and streamline rules, aligning them with other regulations and requiring government approval for FDIs from neighboring countries.

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Real Estate Tax Laws: Accounting Help for Investors

CFO Plans

In the intricate world of real estate, navigating complex tax laws can often feel like walking through a maze. As an investor, understanding tax laws is crucial to maximizing your returns and ensuring compliance. Whether you’re a seasoned property mogul or a budding real estate enthusiast, having a solid grasp of the tax implications tied to your investments is essential.

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At a bunch of companies, white-collar jobs slip into the red

CFO News

At a consolidated group level across businesses, Reliance Industries alone has seen a reduction of 42,000 in employee count in FY24 over the previous year led by the retail business where over 38,000 jobs were slashed.

Retail 45
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Accounting giant PwC fined £15m over LCF audit

CFO News

Accountancy firm PwC has been fined by the UK's Financial Conduct Authority for failing to report suspicions of fraud during an audit of the LCF fund, in the watchdog's first ever fine against an auditor. The markets watchdog handed PwC a £15 million ($19 million) fine after it signed off an audit of the group in 2016, and did not report suspicions around the group's financial conduct.

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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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Sebi proposes to ease compliance for non-convertible securities

CFO News

The new rules mandate that quarterly financial results must be approved by the board of directors before submission. These results, when sent to the stock exchange, need the signature of either the chairperson, managing director, or a whole-time director. If none of these are available, any other director authorized by the board can sign the financial results.

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Shriram Finance in talks with climate-based funds to raise capital for EV financing

CFO News

Shriram Finance has started talks with climate-focused private equity funds to raise capital for electric vehicle lending. Though EVs represent a small part of its portfolio, this share is expected to increase. The company recently exited housing finance and could achieve a Rs 5000 crore EV lending portfolio in the next two to three years.

Finance 40
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Foxconn meets Karnataka govt for potential investment talks while it builds large iPhone assembly plant

CFO News

Karnataka Government, under CM Siddaramaiah, held a strategic meeting with Foxconn's CEO Young Liu about expanding their operations. Foxconn is setting up a mobile phone assembly plant with a Rs 22,000 crore investment, creating over 40,000 jobs. The government assured full support for the project.

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JSW Cement files DRHP for Rs 4,000 crore IPO

CFO News

India's JSW Cement filed draft papers for an initial public offering worth up to 40 billion rupees ($476.7 million) on Friday, aiming to cash in on the country's booming stock market and strong demand for the building material.

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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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India's unemployment rate shows a marginal decline, falls from 6.7% to 6.6% QoQ

CFO News

India's urban unemployment rate stayed steady at 6.6 per cent in Q1 FY25, unchanged from Q1 FY24, according to a government survey. The Labour Force Participation Rate rose to 50.1 per cent. Notably, the Worker Population Ratio improved to 46.8 per cent, underscoring a positive trend in employment metrics for the period.

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Escorts Kubota eyes land in UP for Rs 4500 cr manufacturing facility after pivot from Rajasthan

CFO News

Escorts Kubota has announced plans to build a Greenfield manufacturing facility in Uttar Pradesh, seeking land acquisition approval from the state government. With an investment of Rs 4,500 crore, the company aims to generate annual revenue of Rs 10,000 crore and create 14,000 jobs upon completion. The plan is subject to necessary clearances.

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After raising $50 million, SaaS startup Loginext liquidates assets to US entity for $250k

CFO News

Backed by Tiger Global, Steadview, logistics SaaS company winds up and sells assets to a Delaware entity Stellation Inc, per a July 8 board resolution. Employee stock plan cancelled, options terminated, amid layoffs at the firm. Chinese ecommerce giant Alibaba and Paytm also invested in the company in its early years but sold their stakes during the 2020 fundraise.

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Shriram Properties names Ravindra Kumar Pandey as CFO

CFO News

Shriram Properties: The Bengaluru based real estate developer also announced the appointment of Rajesh Yashwant Shirwatkar as its Deputy Chief Financial Officer.

CFO 40
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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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Dr Lal PathLabs redesignates Group CFO Ved Prakash Goel as Group CFO & CEO

CFO News

Dr Lal PathLabs: Goel brings his experiences from sectors including Manufacturing, Mines, Engineering, Infrastructure and Healthcare Services.