08/29/2025

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! 

💸 Profit & Loss Report

Mark Zuckerberg discussed with President Trump to establish digital service taxes imposed by foreign countries, targeting revenue from Instagram, WhatsApp, etc. Days later, Trump hovered with “substantial” tariffs and semiconductor export restrictions if taxes weren’t removed quickly.

Discussion covered Meta’s $50 billion Louisiana data center and AI initiatives, reflecting Zuckerberg’s connection with Trump after years of rising tension. Trump signals continued trade conflicts with European nations and defense of U.S. tech firms against international regulations.

Source: CPA Practice Advisor

💎 Rare Accounting Oddities

The very first official CPA exam in the U.S. was held in New York in 1896. With over 300 candidates nationwide taking the test…only three candidates passed. 

Before, exams weren’t multiple choice, just ledger books, and brainpower. Passing meant you were an elite genius shaping America’s financial backbone.

So next time an Excel table makes you feel depressed, just smile - at least you’re not battling a 19th-century exam with 299 accountants who failed.

Think you’ve mastered GAAP compliance even when you're sleeping? Wisdify’s programs reinforce your accounting expertise professionally.

Healthcare Fraud Prevention

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AI for Accountants

Ready to let AI do the boring stuff so you can do the brainy stuff? Practice how to use automations like ChatGPT, Google Gemini, and Microsoft Copilot to process journal entries, draft exec-ready summaries, flag potential anomalies, and forecast without a PhD in computer science. Know error reduction methods, and impress your bosses while staying fully in control.

Understand insights from real-world case studies, practice using analytics, and learn career skillsets to upgrade into healthcare positions using Wisdify.

Wisdify gives your accounting career the professional upgrade it deserves.

Your next promotion will thank you later. 

Source: Wisdify

📝 Journaling Insider

The SEC urges PCAOB to delay new auditing standards, with firm pushbacks over high costs and tight 15-month window for solving audit deficiencies. However, most companies pushed for an extended deadline, as seen with AICPA’s 44-month and IAASB’s 27-month windows.

Certain delays push Trump’s lighter regulatory stance, fearing the standard might weakened under new PCAOB leadership. Investor supporters discuss additional time only if it ensures rule compliance, not dismantling, underscoring huge stakes for one of the board’s biggest reforms.

Source: Thomson Reuters 

💰 Making Cents of Accounting

#ClientSurprises😲🧾