07/26/2025

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! 

📊 Accountants Gone WILD

Initial U.S. jobless claims decreased for the sixth consecutive week, from 4,000 to 217,000, marking the lowest figure ever since mid-April and the longest declining streak since 2022. This continued job market dip highlights resilience of the labor market, with weekly filings remaining near pre-pandemic levels, indicating that employers are still holding onto their employees. 

Claims remained high at 1.96 million, signaling that many jobless Americans are having difficulties finding work, pushing the unemployment rate up to 4.2% in the July report. Stagnant hiring and zero payroll growth forecasts hint at a slowdown. The four-week average dipped to a three-month low, though seasonal factors and auto plant retooling add volatility.

Source: CPA Practice Advisor

🧮 COOL AF! (Cool Accounting Facts!)

Accountants were making divine appearances in the scriptures. From Joseph managing Potiphar’s wealth to Moses doing a population census, the Bible references accounting-related practices more than 50 times!

Luke 16:2 literally say “Give an account of your stewardship,” while passages in Kings are commending honest bookkeepers. Add in Matthew the tax collector (yes, that Matthew), and you’ve got multiple Biblical appearances.

So the next time you’re cracking open spreadsheets with your cup of coffee, remember: you’re not just crunching numbers. You’re carrying on a 3,000-year-old divine tradition with every formula inputted on your spreasheets.

You're a rockstar in sniffing out misstatements, and decoding financial notes. But when “Stark Law,” gets mentioned casually, your brain quietly ctrl+alt+deletes itself without second thoughts. 

Wisdify’s Healthcare Accounting Series is designed specifically for CPAs needing accessible guidance on healthcare-specific compliance topics without any legally-induced migraines.

• Audit Administration Mastery (31 lessons, 5.0 CPEs) – A comprehensive auditing lesson discussing planning, fieldwork, risk assessment, internal controls, and final reporting using real-life walkthroughs and documentation standards like GAAS and PCAOB.
  

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Each professional course uses short video lessons, multiple quizzes, and final assessment to help CPAs apply their skills in real healthcare scenarios. Looking to build expertise for premium healthcare clients or transitioning into healthcare roles in organizations? This is your career launchpad for.

Ready to feel like a compliance rockstar and financial wizard? Begin turning confusion into confidence—one regulatory law and Excel  formula at a time.

Visit Wisdify now and turn your “Uhhh…” into “Aha!”

Source: Wisdify

🔢Numbers Don’t Lie

During PayrollOrg’s “Talking Payroll Chat” on July 17, 2025, payroll professionals are now exploring how AI is streamlining documentation using tools like Scribe and ChatGPT. Recent technologies are helping companies replace manual processing with automated guides, simplified SOPs, and multimedia training, improving onboarding and cross-training efficiency.

However, data privacy and control remain top concerns. Attendees stressed the need for AI policies, IT collaboration with regulations like GDPR and CCPA. Experts recommended phasing rollouts, thorough vetting, and proper training in ensuring secure integration. With the right balance, AI processes will be changing payroll into a more strategic, insight-driven function.

Source: Journal of Accountancy 

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