02/24/2025

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! 

📝 Journaling Insider

Companies are prioritizing technology investments over salary increases for the second consecutive year, according to Gartner’s latest survey of CFOs and finance leaders. While pay increases remain the second-largest budget increase for 2025, the level keeps shrinking - as only 61% of leaders plan to boost salaries by at least 4%, a sharp drop from 71% in 2024 and 86% in 2023. Moreover, 77% of companies plan to increase technology spending by at least 4% due to AI establishment in productivity, while other significant budget priorities include the cost of goods sold (60%) and staff headcount (55%).

The accounting industry mirrors these patterns , with AICPA & CIMA’s poll of 500 large U.S. firms outside the Big Four showing 88% had raised starting pay last year, while 82% boosted salaries for mid-career professionals. However, only 45% plan further increases in the next six months, showcasing the industry’s talent shortages due to uncompetitive entry-level wages. Despite accounting’s high long-term earning potential, it remained struggling to attract graduates against better-paying fields like tech and engineering.

Source: Journal of Accountancy 

💰 Making Cents of Accounting

#ExcelOrNothing💸🙏

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💸 Profit & Loss Report

President Donald Trump has issued an executive order mandating agencies to review and align their regulations with administration's policies and the Department of Government Efficiency (DOGE), led by Elon Musk. This directive aims to reduce federal spending by scaling back ordinances not adhering to the current administration's vision. Agencies are instructed to deprioritize enforcement actions that overextend statutory authority or go beyond constitutional powers. This initiative enhances DOGE's influence over regulatory processes, despite ongoing legal authoritative challenges and government scope. 

Concurrently, Trump has signed executive orders to minimize several federal entities as part of a broader collective effort to decrease government size and industry expenditure. Notably, the Community Bank Advisory Council and Credit Union Advisory Council are slated for closure within two weeks, alongside other councils focused on COVID, health equity, and voluntary foreign aid. Other government-led institutions will see their operations reduced to a minimum, aiming to enhance waste reduction and promote innovation within the federal bureaucracy. 

Source: Yahoo Finance

💎 Rare Accounting Oddities

Before Excel formulas and cloud-based software, accountants were crunching numbers with… clay tokens! Yes, our entire financial system can be historically traced back 7,000 years to ancient Near Eastern traders who used tiny clay shapes in tracking goods— cones for barley, spheres for grain, and discs for sheep. Think of it as the earliest form of QuickBooks, just with more dust and no "undo" button.

As record-keeping developed, tokens evolved into markings on clay tablets, giving birth to cuneiform - the world’s first writing system. Accounting didn’t just document things - it created the foundation of history!

So the next time someone calls accounting boring, remind them: without accountants, you wouldn't even be reading this newsletter. Now that’s worth flexing at the next office happy hour!