05/23/2025

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

The House passed One Big Beautiful Bill Act by a narrow 215–214 vote after a contentious overnight Rules Committee session. The bill includes tax cuts, extensions, and spending reductions to Medicaid, SNAP, and ACA programs. CBO reported the poorest households would lose up to 4% in resources by 2033, as the wealthiest gain because of tax breaks.

A key debate centered on the SALT deduction cap, initially raised to $30,000 with phaseouts, though some Republicans demanded a $40,000 cap. Changes risk worsening deficits or forcing more cuts, as cautioned by policy experts and fiscal watchdogs. The bill's future remains uncertain in the Senate, where tighter budget rules might block its reconciliation path.

Source: Thomson Reuters

🧮 COOL AF! (Cool Accounting Facts!)

While Australia doesn't celebrate "Accountants' Day," some companies have designated July 1st to honor accountants, matching the beginning of the Australian financial year. 

July 1 is a period established in 1851 to simplify taxation and financial reporting. Celebrating acknowledges the pivotal role of accountants in navigating various financial transitions. 

So, the next time July 1st rolls around, let us acknowledge the unsung heroes of businesses, giving a day to appreciate their meticulous work to ensure financial compliance.

Let’s be honest — accounting is your playground. But toss in HIPAA, or Stark Law, and suddenly it feels like you’ve wandered into a legal horror movie. 

Wisdify’s Healthcare Accounting Series is a game-changer to your professional career, taking your rock-solid accounting skills while layering practical healthcare compliance know-how — minus the legal drama.

Healthcare Budgeting and Forecasting teaches budgeting reports using healthcare-specific methods. Realistic hospital case studies guide you in forecasting patient volume, managing hospital costs, categorizing expenses, analyzing variances. You'll harness financial analytics, benchmarking, and scenario planning in a volatile, high-stakes environment. 

Financial Statement Analysis in Healthcare focuses on evaluating various healthcare organizations by their financial statements. You’ll break down reports for industry-specific complexities like reimbursement models, various regulatory burdens, and liquidity, profitability index risks, and identifying financial red flags, all laser-focused on healthcare industries. 

If you’ve ever dreamed of expanding your professional career, impressing healthcare clients, or just sounding wildly smart at your next audit meeting, Wisdify has got you covered. 

Become the CPA who actually gets healthcare finance — legal quirks and everything in between.

Source: Wisdify

🔢Numbers Don’t Lie

The 2025 EY Global Wealth Research shows 50% of investors feel unprepared for wealth transfer, with 45% citing rising complexity, reaching up to nearly 15% YoY. Despite 64% considering estate planning as significant, only 28% say experts are tackling it sufficiently, and preparedness levels remain down across various age groups, wealth circles. 

Digital assets are gaining momentum, with 87% of investors anticipating more crypto ETP investments. A third of respondents hold digital assets, with nearly half of millennials participating. AI integration, while expected, is met with data security concerns, digital privacy matters, and lack of human interaction, particularly among North American investors.

Source: CPA Practice Advisor

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