06/27/2025

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

States and cities will increase minimum wages, impacting both regular and tipped workers. Alaska’s rises to $13.00, while major cities like Berkeley and San Francisco increased to $19.18, Emeryville to $19.90, and Pasadena to $18.04. Hotel workers experience hikes: Glendale to $22.50, Long Beach to $25.00, Los Angeles to $22.50, West Hollywood to $20.22 while Columbia raises its minimum wage to $17.95, and $12.00 tipped wage increase.

Chicago increases to $16.60 with a tipped wage of $12.62. Others adjust by worker size with Saint Paul, Minnesota increasing to $13.25 for small employers. Oregon raises to $15.05 statewide, $16.30 in Portland, and $14.05 in non-urban counties. Everett, WA jumps to $20.24 for large employers and Renton to $19.90 for mid-sized businesses. Raises in minimum wage signals nationwide wage pressure and potential business compliance issues.

Source: Thomson Reuters

💎 Rare Accounting Oddities

James Peele brought the magic of Italian double-entry bookkeeping to English merchants,  publishing The Maner and Fourme How to Kepe a Perfecte Reconyng, the very first known bookkeeping manual written in English (1553).

Think of it as the OG “Accounting for Dummies” with practical tables established for English merchants desperately making sense of credits and debits, just translated in English for them.

So, the next time you flawlessly reconcile balance sheets, just remember — you’re walking the same (ledger) path with a guy thinking on “Why should the Italians have all the accounting fun?”

You crush balance sheets like a madman, while reconciling accounts faster than people brew their morning coffee. However, throw in a Stark Law reference or a HIPAA compliance rule and suddenly you’re Googling like tomorrow is not guaranteed.

Wisdify’s Healthcare Accounting Series is designed for growing CPAs professionals ready to step confidently inside the complexities of healthcare finance without needing a law degree. 

Value-Based Care and Population Health Accounting equips learners with knowledge of value-based care, risk-sharing agreements, financial metrics like TCOC, MLR, and PMPM, alongside proper revenue recognition under ASC 606, IFRS 15. Audit readiness, financial assessments for population health initiatives, and how social determinants in healthcare significantly impacts financial benchmarks will be discussed.

Accounting for Healthcare Technology Investments focuses on accounting for healthcare technology investments such as EHR systems, AI tools, SaaS platforms. ROI evaluation, total cost of ownership, NPV, IRR, payback periods application will be utilized. Distinction between capitalizable and non-capitalizable costs under GAAP and IFRS, with proper amortization methods, disclosure requirements for healthcare tech assets will be taught.

CPAs, finance pros, and spreadsheet legends who’ve mastered debits and credits but need a translator for healthcare’s weirdly complicated regulatory laws and various financial models, this one’s for you.

In Wisdify, you’re one step closer to becoming the healthcare finance MVP your future employer desperately needs.

Source: Wisdify

📝 Journaling Insider

Baker Tilly established the acquisition of KraftCPAs, a Nashville-based firm with over 250 employee staff across Tennessee offices in Nashville, Chattanooga, Columbia, and Lebanon. The deal strengthens Baker Tilly’s growing footprint in the Southeast, following its recent mega  merger with Moss Adams and the acquisition of Sockeye, a leading Sage Intacct partner.

KraftCPAs brings expertise in construction, healthcare, manufacturing, nonprofits, professional services, real estate, and private equity. Leaders from both firms highlight a shared commitment to integrity, collaboration, and high-quality service, with the merger offering growth opportunities for both clients and employees. Baker Tilly continues expansion despite national competition.

Source: CPA Practice Advisor

💰 Making Cents of Accounting

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