06/06/2025

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

Center for Audit Quality’s Spring 2025’s survey shows an instant pessimism rise among U.S. audit partners, with 44% expressing a negative economic outlook while optimism dropped from 38% to 15%. In response to fears of recession, geopolitical instability, and trade uncertainties, businesses are focusing on cost management, risk mitigation, and simultaneously reducing headcount while upskilling employees and reinforcing anti-fraud cultures.

AI establishment is spiking to improve customer service and internal operations, but despite the SEC’s new Crypto Task Force, public companies report limited cryptocurrency investments. “Audit partners offer a valuable window into today’s complex business environment,” said CAQ CEO Julie Bell Lindsay, describing how companies are consequently balancing innovation, workforce development, and integrity to strengthen long-term resilience.

Source: CPA Practice Advisor

💎 Rare Accounting Oddities

Believe it or not, accountants don’t just crunch numbers — they’re helping with nature too. Environmental accountants now track carbon footprints as part of corporate social responsibility standard reports.

As ESG (Environmental, Social, Governance) reporting becomes a competitive must-have, sustainability is winning investors and customers trust alike. 

So, the next time you open an Excel spreadsheet, remember — you might just be helping save the world and mother nature, one formula at a time. 

Feeling like a rockstar accountant yet confused and lost in the jungle of healthcare legalese? Don’t worry — Wisdify’s Healthcare Accounting Series is here to bridge CPE gaps with accountant-friendly courses that make regulatory laws digestible, and engagingly fun!

Healthcare Mergers and Acquisitions contain 14 lessons packed with hospital real-world case studies and practical insights without a legal degree necessary. Learn to value healthcare practices, conduct due diligence, and decode regulatory landscapes without breaking a sweat. 

Risk Management in Healthcare Finance shows how to manage financial, operational, and compliance risks. With tools like a downloadable Risk Register Template and hands-on medical strategies, you’ll confidently lead risk assessments and keep your clients out of hot water.

Whether you’re eyeing premium healthcare clients or looking for a career shift into healthcare companies, these programs make complex regulations into your new best friends. 

Why settle for okay when you can be a healthcare-compliance great?

Source: Wisdify

📝 Journaling Insider

The Senate is now considering the One Big Beautiful Bill Act, aiming for passage while facing hurdles including potential Byrd rule violations on provisions with negligible revenue effects. Debates center on energy, where Republicans urge repeal caution on business tax breaks such as bonus depreciation, R&D expenses, interest deductibility which are permanent.

Many Republican senators oppose raising SALT deduction cap beyond $10,000, and growing concerns towards OBBBA’s fiscal impact might significantly add to national debt. Senate leaders acknowledged the bill’s complexities yet remained committed to passing revisions with discussions on further spending offsets and potential adjustments on tax provisions ongoing.

Source: Thomson Reuters

💰 Making Cents of Accounting

#DebitsCreditsAndWhys❓📚