Fri.Mar 15, 2024

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SEC busts company behind $300M crypto Ponzi scheme targeting Latinos

CFO Dive

Under the leadership of Gary Gensler, the SEC has intensified efforts to protect investors involved in what he calls the “Wild West” of crypto assets.

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Managing Supply Chain and Inventory Through ERP Systems

Navigator SAP

Supply chain and inventory considerations are important for most businesses. But for food and beverage manufacturers, supply chain management and inventory control are essential for ensuring the quality and safety of the products being produced. Food and beverage ERP systems make this level of oversight and control possible. Managing manufacturing production is at the heart of ERP, but supply chain management and inventory control, along with ERP traceability in food production, might be just as

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Joann approves $400K CFO retention bonus amid bankruptcy speculation

CFO Dive

The struggling craft supplies retailer approved the bonus as it continues its hunt for a permanent CEO while facing liquidity and inventory challenges.

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U.S. population distribution, 1975-2050

Barry Ritholtz

We sometimes say “Demographics is Destiny,” but that’s abstract. To get a visual sense of what that looks like, see the above chart (via Blackrock ) showing the distribution of various age groups from 2075 to 2050. Note bars in Red are not in the workforce. The post U.S. population distribution, 1975-2050 appeared first on The Big Picture.

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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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US probing Indian billionaire Gautam Adani and his group over potential bribery

CFO News

Investigators are digging into whether an Adani entity, or people linked to the company including Gautam Adani, were involved in paying officials in India for favorable treatment on an energy project, said the people, who asked not to be identified discussing the confidential effort. The probe, which is also looking at Indian renewable energy company Azure Power Global Ltd., is being handled by the US Attorney’s Office for the Eastern District of New York and the Justice Department’s fraud unit

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Sebi board approves easing additional disclosure norms for FPIs

CFO News

The relaxations in certain disclosure norms are aimed at ease of doing business. Further, the market regulator has also approved a Beta version of optional T+0 settlement, for a limited set of 25 scrips, and with a limited set of brokers. The optional settlement will be rolled out from March 28.

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FDX 2024 Insights: The Future of Open Banking with Claire Robinson

FISPAN

FDX Global Summit Spring 2024 took place in Washington, DC from March 12-15. Our VP of Product, Claire Robinson, joined a panel of experts on March 15th to discuss "Driving Adoption of Open Finance in the Commercial Banking Sector”. This article explores the key insights Claire presented during the discussion.

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The New Role of CFOs in Real Estate: Building Value by Leveraging Risk Management

CFO News

In the dynamic realm of Indian real estate finance, CFOs are emerging as pivotal figures, transcending traditional roles to become "Chief Futuristic Officers." Authoritative insights by Nitin Bavisi, CFO, Ajmera Realty & Infra India ltd illuminate their evolving mandate and strategic imperatives.

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Improving Cash Flow with Effective Bookkeeping

CFO Share

In the world of small businesses, cash reigns supreme. But for the typical small business owner with little more than an admin to assist, strong cash flow may feel like a fantasy. That’s why many small businesses turn to outsourced bookkeeping firm s like CFOshare. But with the right bookkeeping processes, you can boost cash management and breathe a sigh of relief.

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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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Electoral bonds: A look at top buyers, other key numbers

CFO News

Here’s a look at the top electoral bond buyers along with an examination of some of the other key numbers that have emerged from the initial data dump.

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When Should I Hire a Fractional CFO?

CFO Selections

If you’re looking to hire a CFO, have you stopped to consider whether you actually need one? Too often companies, especially successful small to mid-sized companies, rightly understand that they need strong financial leadership to maintain their growth and incorrectly conclude that they need to hire a full-time CFO to get it. Now, as a company comprised entirely of seasoned CFOs and Controllers, we certainly understand the importance of having this kind of strong financial leadership!

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Fed seen sticking with three 2024 cuts despite higher inflation

CFO News

Fed Chair Jerome Powell and his colleagues will update their economic and rate projections at the March 19-20 meeting for the first time since December, and survey respondents expect only small tweaks to their outlook with no change in the projected rate path.

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Why AI, blockchain, hyper automation are the future of finance

Future CFO

Business leaders report that digitisation projects are quickening, and the majority predict that by 2026, digital technology will fundamentally alter their sector. To fulfill the potential of an autonomous finance function, leading finance teams are rapidly adopting autonomous finance technology. Alexander Bant , Chief of Research for Finance at Gartner , explains how in this role, technology doesn't only follow the rules; it also collaborates with people, adding its own judgment and picking up

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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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Reliance-linked Qwik Supply third largest electoral bond buyer; Reliance says co not its subsidiary

CFO News

Qwik Supply Chain Private Limited, reportedly linked Reliance Industries, emerged as the third-largest donor to political parties through electoral bonds, purchasing Rs 410 crore between 2021-22 and 2023-24. However, the Mukesh Ambani-led Reliance clarified that Qwik isn't its subsidiary. The company's activities and directors show various connections to Reliance-linked entities.

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Weekend Reading For Financial Planners (March 16-17)

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 final version of the Department of Labor’s (DoL) new “Retirement Security Rule” has been sent to the Office of Management for review, with the rule potentially going into effect in early 2025.

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Air India set to lay off 200 staff to recast business

CFO News

Air India said the retrenched staff will comprise less than 1 per cent of its workforce who had not taken voluntary retirement schemes or availed reskilling opportunities given by the airline. Air India has more than 18,500 employees while group airline Air India Express has around 6,200. The two airlines had a total workforce of 12,085 people, including contractual workers, when Tata group acquired the airline.

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Weekend Reading For Financial Planners (March 16-17)

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 final version of the Department of Labor’s (DoL) new “Retirement Security Rule” has been sent to the Office of Management for review, with the rule potentially going into effect in early 2025.

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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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ET Awards 2023: No link between ED actions and electoral bond purchases, says Sitharaman

CFO News

Sitharaman addressed misconceptions on ED-bond ties and advocated for comprehensive reforms involving states and local bodies. Finance minister Nirmala Sitharaman also pointed to govt’s next-gen reforms plan, said not enough data on private investments in sunrise sectors and job creation, asserts inflation under control.

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Supreme Court issues notice to government on review pleas by Deloitte and BSR in IL&FS case

CFO News

Deloitte in its review petition told the SC that the May decision failed to consider the provisions of the limited liability partnership (LLP) Act which says no vicarious liability can be fastened on the other partners in the case of alleged fraudulent acts. It further stated that its only three partners and a total team of 18 persons were involved in the IFIN audit and any default on their part cannot result in action against the entire firm, which has approximately 150 partners and employs aro

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McDonald's CFO says overseas sales to weaken more on Middle East, China hit

CFO News

First-quarter comparable sales in McDonald's International Developmental Licensed Markets segment will be "slightly lower" than the prior three-month period, Borden said at the UBS Global Consumer and Retail Conference.

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Northeast among biggest gainers of GST, says Finance Minister Sitharaman

CFO News

Speaking at the Indian Institute of Technology in Guwahati, Sitharaman said the compounded annual growth rate (CAGR) of GST revenue of the north-eastern states has been 27.5% since its introduction in 2017-18. This was way above the CAGR of 14.8% under the earlier indirect tax regime. Elevated tax mop up has enabled these states to spend more on development programmes, she added.

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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 forex reserves surge by $6.55 bn to $625.63 bn as of March 1

CFO News

India's foreign exchange reserves have risen by $6.55 billion to reach $625.63 billion for the week ending March 1, as per the latest data from the Reserve Bank of India (RBI). This follows a previous increase of $2.98 billion to $619.07 billion for the week ended February 23, 2024.

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RBI-Sebi tango stops dance of dodginess: Regulators now inclined to share data; come together to take on wrongdoers

CFO News

Financial sector regulators in India are increasingly coming together to address wrongdoings and practices by market participants. This change is attributed to former Sebi chairman Ajay Tyagi, who established an institutional mechanism in 2019 to facilitate sharing of information and data between Sebi and RBI. This system allows for more serious information sharing and debating, with executive directors from both organizations nominated as contact persons.

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Electoral bonds saga: SC pulls up SBI for not sharing unique serial number on poll bonds, issues notice

CFO News

The Indian Supreme Court criticized the State Bank of India for withholding unique serial numbers of banned electoral bonds, revealed recently. The court demanded clarification, issuing a notice to SBI, mandating a response by March 18, emphasizing transparency concerns surrounding the electoral bond scheme.

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Vedanta, Airtel, Essel among top funders of Indian political parties in last 5 years, data shows

CFO News

Vedanta, Airtel, Essel among top funders of Indian political parties in last 5 years, data shows

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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.