07/14/2025

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

President Donald Trump made a 35% tariff increase on specific Canadian goods, escalating global tensions and shaking investor confidence. He mentioned fentanyl, trade imbalances, and non-tariff barriers as justification, despite most Canadian exports remaining shielded by the USMCA. The political move caused S&P 500 to dip and the U.S. dollar to rise, with Trump also proposing a 15–20% blanket tariffs on most global trading partners.

Canada has responded by pledging to defend its national workers and business industries, with officials highlighting cooperation on fentanyl and fair trade commitment. Trump’s approach signaled changes from negotiation to unilateral action, undermining months of bilateral diplomacy. Though various sectors like autos and energy remain exempted, Trump’s unpredictability and tariff threats have created instability in North American trade relations.

Source: CPA Practice Advisor

🧮 COOL AF! (Cool Accounting Facts!)

In the early 1900s, pencil erasers were banned from accounting exams to stop fraudulent activities. Precision and honesty were non-negotiable, and even smudged ledgers might create suspicion of exam tampering.

Examinees were reminded: no do-overs, no second chances, and absolutely no erasers. Some even resorted to breaking them off! It was less about neatness and more about exam integrity. 

So the next time you hit an "Undo" command on Excel, just be relieved you're not balancing ledgers with just a broken pencil, a nervously shaking hand, and zero-tolerance for mistakes.

You’ve mastered your way through revenue recognition, but when someone casually drops “HIPAA compliance” or “Stark Law violation” into a meeting, you begin uncontrollably shaking nervously.  

Wisdify’s Healthcare Accounting Series begins with two game-changing programs designed for confident accountants who just need the legal stuff explained... in plain English.

📊 Course 1: Healthcare Finance Data Analysis in Excel

CPEs: 2.5 | Lessons: 10 | Field: Specialized Knowledge
Raw healthcare data is messy but your analysis doesn’t have to be. This professional course shows how to wrangle healthcare data into analytics using Excel. You’ll build dashboards, calculate ROI evaluation, and model financial scenarios when building decisions.

Learn how to:

• Decode healthcare-specific revenue and cost structures

• Build dashboards that executies will actually understand
  

• Automate recurring analysis for saving time and brainpower
  

• Model investment outcomes and forecast uncertainties

🌿 Course 2: Healthcare ESG Reporting

CPEs: 2.5 | Lessons: 14 | Field: Business Management & Organization
ESG reporting is no longer just a buzzword. Particularly in healthcare, where environmental impact, social responsibility, and governance standards remain tied with reputation, funding, and compliance. This professional course walks you through ESG frameworks like GRI and TCFD, linking them with financial reporting, and demystifying Form 990 Schedule H.

Learn to:

• Aligning ESG reporting with healthcare finance goals
  

• Identifying relevant healthcare performance metrics
  

• Designing internal controls for audit-ready ESG data
  

• Quantifying financial impact of various ESG initiatives

Whether you’re already supporting healthcare clients or thinking about pivoting into healthcare’s premium industry, Wisdify has got you covered with programs translating compliance into accountant-friendly discussions.

Start building confidence in a booming industry without pretending you’re a genius in disguise.

Accounting expertise? You’ve got it. Healthcare compliance? We’ll help you own it.

Source: Wisdify

🔢Numbers Don’t Lie

Retail sales decreased in June for the first time since February, with total sales down 0.33% and core sales down 0.32% every month. The decline reflects growing consumer alertness due to economic uncertainty, trade tariffs, and unresolved trade policies. NRF mentioned that while fundamentals remain solid, consumers are hesitating, marking changes from last performances.

Year-over-year figures stayed positive, with total sales up 3.19% and core sales up 3.36% in June. Sales for the beginning half of 2025 rose 4.66% overall and 4.93% in primary categories. Eight of nine retail sectors experienced monthly declines, led by electronics (-1.03%), furniture (-1.04%), and building supplies (-0.76%). Only digital products saw monthly growth (+0.26%), followed by sporting goods (+8.52%) and health and personal care necessities (+3.47%).

Source: CPA Practice Advisor 

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