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Tag Archives: Accounting

Union Budget brings cheers to business communities

Murli R MyCFO India

Mr. Murli R, Vice President – Client Delivery, MyCFO

Union Budget 2015 came as a pleasant surprise for the business community. Loaded with several tax relief for corporate and start ups, it can well be seen as a good step towards the agenda of ease of doing business.

The budget is a representation of 2 Is, investment and infrastructure. Finance minister had bounties on offer even for the last man in the row; that would be MSMEs. The budget carries huge thrust for SMEs and MSMEs as they will be able to access funds.  Let’s have a quick look at some important tax sops, granted by the FM. Continue reading

CFO’s role in mentoring the F&A team and improving the F&A team effectiveness

Mr. Koushik Krishnan

Mr. Koushik Krishnan

By Mr. Koushik Krishnan, Regional Manager, accounting & control, A-PAC, Tetra Pak
Mentoring – building great teams to manage the madness

I handle a somewhat large role in a somewhat large organisation. My work spans 6 time-zones, 9 markets and a billion euro in turnover.

Last week, I got laid up with a slip disc. With Q3 close and the budget season in full swing, this was not exactly the best time to be laid up. So, here I was, trying to juggle decision making, tactical overseeing, putting out team fights, participate in corporate future gazing, get the team ready for an upcoming audit, and the list goes on. And also, squeeze some time for rest and therapy when the body gave way. 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