09/12/2025

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

U.S. jobless population soars to 263,000 in the week ending September 06, the highest since 2021 and previous forecasts, signaling economic downfall after August’s weak 22,000 job gain. The four-week average also climbed to 240,500, pointing to broader labor market weakness.

Texas leads the jobless market population with 15,304 new claims, followed by Michigan with 2,980, while continuing claims stayed at 1.94 million. With the upcoming Federal meeting, pressure mounts for salary cuts as job growth decreases, even as inflation rises 0.3% in August.

Source: CPA Practice Advisor 

🧮 COOL AF! (Cool Accounting Facts!)

Ever thought your office desk was buried in paperwork? The IRS handled over 266 million tax returns and forms during the year 2024: with more than 161 million from individuals alone. 

If you stacked just the paper returns, the document pile would get higher than Mount Everest’s 8,849 meters. That’s not just a mountain of paperwork: it’s everyone’s accounting Himalayas! 

And while millions are filing on papers, slowing tax refunds and clogging up workflows, the heroes are the accountants scaling mountain peaks every season without oxygen tanks.

You already know GAAP compliance: but what about fraudsters in labcoats and AI workflows building your memos faster than you’ve ever seen?

Don’t panic - Wisdify always got you covered.

🏥 Healthcare Fraud Prevention and Detection

This program’s your fraud “X-ray machine.” From phantom billing to medical claims, learn spotting red flags miles away before the ink dries:

• Decode healthcare fraud schemes keeping regulators awake 

• Apply various fraud triangle, no geometry degree required

• Utilize anomaly detection to prevent tomorrow’s headlines

• Respond to violations with airtight, compliant documentation

🤖 AI for Accountants

AI’s here to snatch back your late nights reconciling journal entries and cranking out messages. Turn buzzwords into CPA-friendly workflows:

• Automate general journal entries without the heavy lifting

• Catch duplicate invoices and sneaky anomalies quicker

• Forecast with AI-built precision and workflow confidence

• Explore privacy and compliance for audit-proofing updates

Broaden your professional expertise with Wisdify. Your CPE hours shouldn’t just checklists - create yourself to be someone important using Wisdify.

Source: Wisdify

🔢Numbers Don’t Lie

SEC Chair Paul Atkins revisit foreign companies IFRS usage without U.S. GAAP reconciliation, citing unstable IASB funding and sustainability reporting focus. Examination comes after SEC begins assessesing foreign private issuer regulations, which gives overseas firms unfair advantages.

The IFRS Foundation earned $91.6M in 2024, however remains dependent on contributions. With IASB–FASB convergence being stalled, investors and analysts pushed for reinstating reconciliation to improve transparency, development, and confidence in U.S. financial reporting.

Source: Thomson Reuters

🐦 Twitter Showdown

#DeadlinePanics☕⌛