07/28/2025

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

SEC Chair Paul Atkins is looking for new candidates on all PCAOB board seats, following the removal of Chair Erica Williams. He also signaled likely cuts to the board's 2026 salaries, which have remained flat since 2009, stretching to $672,676. Atkins, longtime judge of PCAOB compensation, mentioned the board's 40% budget increase from 2020 to 2025 as a concern.

Commissioners echoed Atkins’ concerns, mentioning that PCAOB’s budget growth outpaces SEC’s 21% increase over the same period. Uyeda noted PCAOB’s 2025 budget equals 18.6% of SEC appropriations despite managing only 659 audit firms, compared to SEC’s 40,000 entity jurisdiction. Applicants for the PCAOB board seats, with term expirations are now welcomed. 

Source: Thomson Reuters 

💎 Rare Accounting Oddities

Forget chili-spilling Kevin Malone or spreadsheet wizard Oscar Martinez— the most unexpected fictional accountant? Bruce Wayne. Billionaire CEO by day, hero vigilante by night, and financial manager somewhere in between.

According to DC lore, Batman personally reviews Wayne Enterprises and Wayne Foundation, keeping his double life audit-proof. From bat-gadgets to secret lairs, expenses are strategically filed under “urban security initiatives.” 

So next time you’re reconciling account transactions or mastering spreadsheets, remember: You’re not just crunching numbers, you’re one utility belt away from having superhero status. 

You can automatically recite ASC 606 while sleeping, but when someone mentions ROI periods, do you suddenly feel like you're being transported into an unknown law-med school curriculum?

Wisdify’s Healthcare Accounting Series gives you professional, bite-sized, CPE lectures designed specifically for accountants confidently navigating the highly regulated, often mysteriously cryptic world of healthcare without needing to pass any legal bar exams

🔍 Course #1: Audit Administration Mastery: From Planning to Final Report

This is your audit playbook with context you’ll actually be using in the field. From risk assessment to final report delivery, our professional course first-handedly walks you through:

• Risk-based methodologies

• Internal control evaluations

• Documentation standards

• Sampling audit strategies

• Stakeholder communication

💡 Course #2: Healthcare Finance Data Analysis in Excel

If Excel had a superhero cape, our healthcare course teaches you how to wear it . Go from accounting spreadsheet mortal to dashboard-wielding beast. Healthcare topics include:

• Revenue and cost categories

• Interactive Excel dashboard

• Modeling ROI, NPV formulas

• Datasets in financial insights

• Automating executive reports 

If you’ve ever thought, “I’d love to work with healthcare clients, but I don’t speak regulatory compliance,”  these programs are your roadmap to collaborating with high-value clients in the lucrative healthcare sector. 

Let Wisdify help you turn “What does that even mean?” into “Actually, here’s what that means.”

Your healthcare accounting confidence starts here.

Source: Wisdify

📝 Journaling Insider

The Tax Act makes changes on international tax rules, refining instead of exchanging the 2017 TCJA framework. It boosts effective GILTI and FDII rates to 14%, eliminating asset-based deductions, and slightly increasing BEAT to 10.5%. The proposed Section 899 “revenge tax” was dropped after a G7 deal exempted U.S. multinationals from OECD Pillar Two rules.

These current updates are positioned to align U.S. tax policy more closely with OECD’s BEPS framework. Experts expressed the changes are modest yet significantly, primarily affecting large technology businesses and pharmaceutical firms which are shifting income overseas. While not ending tax avoidance, specific tweaks makes additional foreign income taxable in the U.S.

Source: Thomson Reuters

💰 Making Cents of Accounting

#SpreadsheetZombie🧟📒