2014 JuneMyCFO Blog | MyCFO Blog

Monthly Archives: June 2014

MyCFO highlights the differences between the Traditional and Modern CFO!

Traditional vs Modern CFO, MyCFO

FDI in E-commerce – Pros and Cons by Deepak Narayanan

Deepak Narayanan, Co-founder and Director, MyCFOThere has been huge expectations from all sides since the new Government  has been sworn in. In a bid to reignite the economic engine and make it chug along at a faster pace, the Government is trying to bring in legislations that it thinks will positively impact foreign investor confidence. The recent buzz/speculation around FDI in e-commerce industry is one of the most discussed topics.

Initial Reactions

While the brick and mortar traders have been and will continue to oppose the move, since they believe that it is likely to cannibalise their business, what has come as a surprise is the opposition this proposed change in policy is facing from the Indian giants in the e-commerce business. Continue reading

Client Case Study – Digimed

MyCFO Media DigimedClient

Digimed is an Indian group in the digital media space which has been acquired by a leading media house based in Europe.

MyCFO Role

MyCFO plays the role of a Controller reporting to the Group CFO based out of Netherlands. The mandate is to streamline the accounting, compliance and reporting function in line with the group’s global practices. This entails booking revenues and costs based on accounting conventions and principles in line with Indian GAAP and IFRS, authorizing and tracking of expenses, liaise with the auditors for accounts finalization, setting the India budgets, managing and forecasting future cash flows, getting involved in monthly review meetings with the India CEO and the Group CFO, measuring business performance by setting up profit center accounting and reporting, improving operations by implementing an IT solution to track time to enable the management to take decisions on efficiency and pricing, drafting SOP’s for key business processes amongst others. The role comes with accountability to deliver results that an in house Controller/CFO would take on had there been one. Continue reading