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More than $50 billion of cryptocurrency was transferred from virtual wallets in China to other parts of the world last year, a potential violation of the nation’s strict limits on how much money can be sent abroad, according to a new report. While Chinese traders are limited to the purchase of up to $50,000 of foreign currency annually, the volume suggests stablecoins could be being used to circumvent the regulation, according to Chainalysis , the New York-based provider of regulatory compliance
By Ishara Kadawathe CBA, B.Sc. – Associate Controller, CFO Plans. What is an internal control system? It is a series of actions that occur throughout an entity’s operations and is used to guide the operations by the management in order to achieve the objectives of an entity in relation to the operational effectiveness and efficiency, financial reporting reliability, and compliance with laws & regulations.
An Interview with Ryan Keating?—?Financial Advice for Startups I recently spoke with finance leaders from a couple dozen startups. Their expertise ranged from seed stage start-ups, where the CEO also served as the in-house finance leader, to growth stage companies where an in-house CFO monitored the entity’s current and future financial health. In these conversations, I observed that each finance leader had a different perspective and approach when engaging with their financial accounting partne
Tax Savings, Teaching About Money and Investing, and Bringing Your Family Closer Together How would you like to save on your federal and state taxes as well as help teach your child(ren) about saving for the future (i.e. college, retirement, car, etc.)? In Virginia, and most other states, if you own your business you can hire your children to work for you regardless of their age (yes, even younger than the standard age requirements in child labor laws).
Document-heavy workflows slow down productivity, bury institutional knowledge, and drain resources. But with the right AI implementation, these inefficiencies become opportunities for transformation. So how do you identify where to start and how to succeed? Learn how to develop a clear, practical roadmap for leveraging AI to streamline processes, automate knowledge work, and unlock real operational gains.
Google is asking the Federal Communications Commission (FCC) for permission to hold radio experiments “in and near the 6 GHz band,” according to a recent filing with the agency. The tech company said in the filing that it “proposes to conduct experimental propagation testing in the 6 GHz band to produce technical information relevant to the utility of these frequencies for providing reliable broadband connections.”.
Asia Pacific regulators in China, Hong Kong, Singapore, Malaysia, Taiwan, India and Pakistan have altogether issued almost US$4 billion of fines related to anti-money laundering (AML) and Know-Your-Customer (KYC) violations by end-July, up from last year's US$3.5 billion, said Fenergo recently. Countries where fines have increased substantially include Pakistan (845% rise compared to 2019 mid-year), Hong Kong (+223%) and Taiwan (+116%) and are a result of increased enforcement actions in respons
As a marketing leader, you’re expected to have a really good sense of your own department. Luckily, there’s more technology than ever to track your team’s performance, your insights, and your data. But marketing leaders shouldn’t take a myopic, marketing-only view of that data. Instead, it’s increasingly important to build a better relationship with Finance so that every marketing move contributes to the overall financial goals of the company. .
The Commerce Department released July’s retail sales last week, showing an increase in seasonally adjusted retail spending – up 1.2 percent overall last month, but down from the 8.4 percent growth in June. Analysts reported that physical retail sales, seasonally adjusted, were up 2.7 percent overall in a trailing 12-month period, and that businesses had mostly recovered all of the losses that had been incurred in the March-through-May lockdown.
Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.
Building a financial model with Excel is a complex task. With so many considerations to make, you will likely make certain errors. Follow these simple rules to avoid errors. Accessing FutureCFO Premium Content. Welcome! To access Premium content and more, please login below. Not a Premium member yet? Register now for a free account! Username or Email.
I started at Planful just over a year ago as SVP of People & Culture (that’s “human resources” rebranding ourselves). Our culture was going through an evolution, with new leadership, a new vision, and new energy being injected into the company. We made it clear we would take a people-first approach, and that our values were to be a tangible and visible component of our company DNA.
China’s Ministry of Commerce is moving forward with its plan for a digital currency, according to a report by The Wall Street Journal (WSJ). The plan will come with a large number of cities in which to test the currency, including Beijing and the provinces Tianjin and Hebei in the north, the Yangtze River Delta to the south, and the Guangdong province and the neighboring cities of Hong Kong and Macau along the country’s prosperous southern coast, WSJ reported.
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
A good financial analyst follows certain procedures and discipline This article will explain major errors made with financial modelling and how to avoid them. Accessing FutureCFO Premium Content. Welcome! To access Premium content and more, please login below. Not a Premium member yet? Register now for a free account! Username or Email. Password. Remember Me.
In today’s challenging market landscape, CFOs have struggled to answer basic questions like what is my optimal cost structure and what will my cash position be at any given time? The inability to dig deeper into reports, time-consuming manual verification and uploading of data, and the prevalent use of spreadsheets not designed for collaboration make the answer unnervingly complex.
Berkshire Hathaway ’s unloading of billions of dollars from bank stocks is exacerbating the hurt on the nation’s biggest financial institutions, Reuters reported. Warren Buffett, the company’s chairman and CEO, has sold shares of Wells Fargo and J.P. Morgan Chase and dropped an investment in Goldman Sachs. Based on its second quarter filing with the Securities and Exchange Commission, Reuters reported Berkshire reduced its Wells Fargo stake by 26 percent to 237.6 million shares, lowered its sta
With B2B payments being an increasingly attractive target for innovators, the landscape is growing crowded as more banks and FinTechs roll out their accounts payable (AP) automation solutions. The competition is undoubtedly heating up. According to Comdata ’s Senior Vice President of Product Tad Fordyce , there are several key areas where financial institutions (FIs) can focus to drive the most value for their corporate clients.
Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.
Looking for a travel-related business that’s actually booming during the year of COVID-19? It’s out on the water, in rented boats of every shape and size from kayaks to luxury yachts. “We had our drop-off in April, and then come May we saw a very quick rebound, Bryan Petro , chief operating officer of boat rental and charter marketplace GetMyBoat , told PYMNTS.
The U.S. Department of the Treasury and the IRS are planning to send out interest payments totaling $18 on average to 13.9 million Americans who filed their tax returns in the last few months, according to a press release. The interest payments are intended for those who made a tax filing by the deadline on July 15 and received a refund in the last three months or will receive one soon.
Engaging customers in socially responsible causes can help retailers build trust and develop lasting relationships that translate into many return visits. A recent study found that 47 percent of consumers around the world would be more inclined to trust businesses that support environmental or social causes they embrace, for example, while 53 percent said a business’s outreach in causes they support would make them more likely to endorse the firm’s goods or services.
For airlines, looking toward the future leads to a longing for the past. And though 2019 was, well, not all that long ago, it seems like a million years ago. Earnings season, as always, sheds light on what’s to come – and per commentary from the Delta airlines conference call to discuss second-quarter results, the company’s third-quarter revenue and flight capacity will be at roughly a quarter of last year’s, owing largely to the pandemic.
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
There’s data and then there’s the story the data can tell — and sometimes the story you get is not the whole story. To that end, on Tuesday (Aug. 18th), the Department of Commerce’s U.S. Census Bureau reported that retail eCommerce sales for the second quarter, on an unadjusted basis, stood at $200.7 billion, up 37 percent sequentially, from the first quarter of the year.
The pandemic has made us a world populated by consumers – of content. And where the consumer’s appetite for the daily fix of movies, news, shoes and games only grows, the subscription economy is poised to grow in lockstep. In an interview with Karen Webster, Brian Bogosian , CEO at sticky.io , an integrated eCommerce subscription management and recurring billing platform, said that Apple’s continued push into subscriptions is only one example of the allure of subscription eCommerce, and where it
A database of nearly a quarter-million YouTube, Instagram and TikTok public profiles that was held by a now-shuttered company called Deep Social has made its way onto the Dark Web, The Next Web reported on Thursday (Aug. 20). The news site attributed information about the data exposure to researcher Bob Diachenko of security firm Comparitech. A Wednesday (Aug. 19) report on news site Information Security stated, in part: “Diachenko first contacted Deep Social using the email address listed
The U.S. real estate market has spent the summer booming despite an economy hit hard by the pandemic. HomeLight CEO Drew Uher told Karen Webster that home sales have been pushed into high gear by incredibly low mortgage rates and a radical re-centering of people’s housing priorities amid shelter-in-place orders. “We’re basically seeing one of the most robust housing markets that we’ve ever seen,” Uher said.
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
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