04/18/2025

Well, hi there! Sit back, enjoy, and relax as you’re currently on the Daily Accrual.

Every day, I sift through the accounting noise so you don’t have to. I share to you the most relevant, juicy accounting insights that really matter – nothing phony, just some good, accounting testimony! 

📝 Journaling Insider

U.S. jobless claims dropped to 215,000, showing stable employment despite economic uncertainty. Businesses, especially small ones, are cutting hours due to Trump’s shifting tariffs. Manufacturing hours fell, future hiring hit a 2016 low, and continuing claims rose to 1.885 million. March added 228,000 jobs; unemployment rose to 4.2%.

Tariffs drove single-family housing starts down 14.2% in March to 940,000, an eight-month low, with a 9.7% yearly drop. Builders face $10,900 added costs per home, delaying projects. Permits and starts fell, while unstarted homes hit a three-year high. Total housing starts dropped 11.4%, with Q1 GDP expected below 0.5% and possible contraction.

Source: Thomson Reuters

💰 Making Cents of Accounting

#OldSchoolAccounting 💰📚

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💸 Profit & Loss Report

The SEC is set to relax Section 404(b) requirements for small companies, arguing current thresholds are outdated and burdensome. Acting Chair Mark Uyeda and Chair Paul Atkins support a size-adjusted framework, aligning with President Trump’s push to reduce anti-competitive regulations.

Industry groups claim 404(b) costs hinder R&D and discourage IPOs. While Atkins critiques the rule’s effectiveness, Commissioner Caroline Crenshaw argues that compliance costs aren’t the primary IPO deterrent, pointing to the economic strength of today’s smaller public companies.

Source: Thomson Reuters

💎 Rare Accounting Oddities

Ever wondered how tech giants manage to pay so little in taxes despite their massive profits? Here's the secret – they hire brilliant accountants to navigate tax laws, minimizing their liabilities! 

Through clever strategies like profit shifting, and tax-friendly locations, hefty tax bills transform into manageable sums. Facebook, for example, reported a tax bill of just £15.8 million on £1.27 billion in revenue. 

Do you know the mastermind behind these strategies? Feargal O'Rourke, who helped create said infamous "Double Irish" tax scheme, letting companies save big. Well, that’s a magic trick worth knowing!