05/16/2025

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

Armanino has entered the Utah market by acquiring Salt Lake City-based Cooper Savas, a 35-person firm known for its Big Four talent and client-focused service. The deal follows Armanino’s minority investment from Further Global Capital Management back in 2023. Under their alternative practice structure, Cooper Savas’ assets will be integrated respectively.

Founded in 2011, Cooper Savas provides tax, accounting services for various industries. The merger gives clients access to Armanino’s broader offerings, international tax, R&D credits, and strategic consulting for M&A and IPO readiness. Leaders from both merging firms highlighted strong cultural alignment and professional commitment to high-quality service and growth.

Source: CPA Practice Advisor

💎 Rare Accounting Oddities

CPAs don’t just run the numbers — they’re seriously regulated. Nationally, the AICPA lays down the professional rules, and golden standard for accounting conduct. 

But the real licensing power? In the hands of your friendly state boards of accountancy. They possess the responsibility of saying “You’re out!” when things go unethically sideways.

These national boards sync up with NASBA, keeping accountants updated whenever. Next time, acknowledge your regulatory dream team for keeping everything sharp, and professional!

If you’re a rock-solid CPA navigating through GAAP blindfolded yet gets sweaty when Stark Law or HITECH are mentioned, we’ve got the perfect news: Wisdify’s Healthcare Accounting Series aims to minimize healthcare compliance gaps without putting you to sleep. 

Our first professional course, Regulatory Frameworks in Healthcare Accounting discusses key healthcare compliance topics such as HIPAA, Medicare, Medicaid, audit procedures, and fraud prevention necessary for various healthcare organizations, and their regulatory laws.

Following that, Revenue Recognition in Healthcare dives into real-world application of the ASC 606 and GAAP to healthcare billing models like bundled payments and capitation, solving uncompensated care, and contractual adjustments by practicing on real-world case studies.

Moreover, the Cost Accounting in Healthcare focuses on advanced learners by tackling various cost allocation techniques, activity-based costing, overhead control, and strategic financial decision-making tailored specifically for healthcare providers worldwide. 

Don’t just keep up with the healthcare accounting industry - lead the way. Start mastering the regulatory laws necessary for healthcare accounting professionals with Wisdify today!

Source: Wisdify

📝 Journaling Insider

AICPA endorsed 10 tax provisions in the House Ways and Means Committee’s proposed bill, supporting permanent extensions of key TCJA elements like increased standard deductions, tax brackets, and the QBI deduction. It also backed repealing the $600 Form 1099-K threshold, expanding 529 account uses, reinstating the EBITDA interest limit under Sec. 163(j), and full expensing of domestic research.

However, AICPA opposed excluding service businesses from deducting state and local taxes at the partnership level, suspending personal casualty loss deductions outside federally declared calamities. These changes would unfairly burden pass-through entities, forming up the majority of U.S. small businesses, including accounting firms, medical practices, and various organizations.

Source: Journal of Accountancy

💰 Making Cents of Accounting

#ProblemSolved✔️📒