06/02/2025

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

A federal court ruling blocking key Trump-era tariffs might create a $2 trillion hole in U.S. fiscal projections over the next decade, undermining a $4 trillion Republican-backed tax cut funding. The decision struck down use of the International Emergency Economic Powers Act (IEEPA) to impose sweeping tariffs, raising U.S. rates to 27%, generating nearly $200 billion annually.

The White House is appealing the ruling, with a possible Supreme Court challenge pending. If it fails, Treasury revenues would suffer, with customs income at record highs over $16 billion monthly. Economists warn the fiscal outlook will worsen without tariffs, even as the current administration explores alternatives like Section 232 tariffs on tech, pharma, and autos.

Source: CPA Practice Advisor

🧮 COOL AF! (Cool Accounting Facts!)

Accountants who specialize in gaming and esports are managing prize money, partnership deals, and various streaming income for digital superstars.

With global eSports revenue predicted to hit $1.5 billion by 2025, top players aren’t just dodging bullets on-screen, they’re navigating taxes, royalties, and international contracts off-screen. 

From Ninja’s $20M brand deals to Twitch millionaires, there’s a lot at stake. So, the next time you see a player hit a big win, just remember: there’s probably a CPA behind that killstreak.

You're rock-solid on debits and credits — but when someone mentions HIPAA, you start blinking like an Excel sheet in circular reference mode? Don’t worry, you're not alone.

The Healthcare Mergers & Acquisitions course dives into real-world valuation techniques, deal structuring, and post-merger integration tailored for healthcare entities. Complex regulations like Stark Law and antitrust issues will be discussed using practical examples and real-life case studies, understanding the various impacts of M&A decisions in healthcare.

The Risk Management in Healthcare Finance discusses mitigating financial, operational, and compliance risks unique to healthcare. Qualitative risk scoring, downloadable Risk Register templates, and insurance analysis techniques will be discussed. From HIPAA compliance to cybersecurity threats and revenue leakage, everything is within your reach in learning. 

Both professional courses are structured in digestible video segments, comprehensive quizzes, and final assessments — ideal for CPAs ready to work in healthcare-specific environments.

If you've ever thought, “I’d crush any healthcare accounting role in a company if only I wasn’t allergic to regulatory acronyms,” — we made this program especially for you.

Start now. Your future self (and your healthcare clients) will thank you later.

Source: Wisdify

🔢Numbers Don’t Lie

The Steinhoff fraud case, South Africa’s largest corporate scandal, is moving to High Court due to its complexity. Former treasury head Stéhan Grobler and two other ex-executives received extended bail, with the next hearing set for September 3. Prosecutors are finalizing charges including racketeering and R21 billion ($1.2 billion) in fraud — while awaiting racketeering certificate and German witness affidavit; the charge sheet is due June 17.

Steinhoff collapsed in December 2017 when auditors refused to sign off on financials, causing a R230 billion loss on the Johannesburg stock exchange. A 7,000-page PwC report, released only six months ago, uncovered €6.5 billion ($7.4 billion) of irregular transactions over eight years. Former CFO Ben la Grange is now a key witness after plea deal, while ex-CEO Markus Jooste died by suicide in March 2024.

Source: Accounting Today

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