06/30/2025

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

The Senate’s “One Big Beautiful Bill” would add a $3.3 trillion deficit over the next few years,, including $4.5 trillion in tax cuts and $1.2 trillion in spending cuts, targeting Medicaid and SNAP. Republicans used an unprecedented current policy baseline, treating 2017 tax cuts as permanent to minimize said bill’s apparent fiscal impact. This accounting maneuver was heavily criticized by Democrats, economists, and fiscal watchdogs for masking true project costs.

The bill currently faces hurdles due to its massive cost, Senate rule conflicts, fiscal conservative pushbacks. It permanently extends specific business tax, limits deductions for tips and overtime, reduces SALT cap window to five years instead of ten. Critics call the bill  as “budget gimmicks” that might dangerously inflate national debt. The Senate version’s deficit impact exceeds the House bill’s $2.8 trillion projection, raising alarms over fiscal consequences.

Source: CPA Practice Advisor

💰 Making Cents of Accounting

#CPAProblems😵‍💫

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You’re a rockstar when balancing financial statements, however goes into silence when terminologies like HIPAA, HITECH, Stark Law, or even Value-Based Care gets used around.

Wisdify’s Healthcare Accounting Series provides you with just straightforward, accountant-friendly guidance for navigating healthcare finance, compliance, and ESG reporting.

If you’ve ever considered working with high-value clients in the healthcare industry or thought about pivoting into in-demand healthcare finance roles, this is your secret weapon.

Healthcare ESG Reporting covers key frameworks like GRI, TCFD, GHG Protocol, focusing on ESG reporting tailored for healthcare. It teaches alignment of ESG data with financial reporting, design internal data controls, comply with IRS Schedule H, and quantify financial impacts such as cost savings, operational efficiencies— without any prior ESG knowledge required.

Value-Based Care & Population Health Accounting navigate fee-for-service to value-based care. Essential metrics like TCOC, MLR, PMPM, revenue recognition under ASC 606 and IFRS 15, financial impacts of risk-sharing agreements with population health investments. Learners will be managing audits, ensuring grant compliance, analyzing cost structures, integrating social determinants of health into financial strategies. 

Both professional courses feature 5–20 minute CPA-friendly videos, quizzes, and final assessments. If you’ve considered working with premium clients in the healthcare industry or thought about pivoting into healthcare finance roles, this is your perfect secret weapon.

You’ve already mastered balance sheets. Now it’s high-priority to balance compliance, ESG, and value-based care metrics like a boss in Wisdify. 

Source: Wisdify

💸 Profit & Loss Report

The Senate's tax package under the “One Big Beautiful Bill Act” faces backlash over deeper Medicaid cuts, putting its July 4th passage in doubt. It proposes slashing hundreds of billions in funding across 22 ACA expansion states, per KFF. Key measures include cutting provider taxes, reducing FMAP, and tightening work requirements, sparking opposition from 16 House Republicans and U.S. Senators, warning of potential hospital closures and coverage losses.

The bill also faces procedural hurdles with the Senate’s Byrd Rule, blocking provisions unrelated to estimated budget impacts. The Senate Parliamentarian flagged cuts to FMAP, provider tax limitations, Medicaid restrictions for certain legal immigrants as rule violations. Nearly $250 billion in Medicaid cuts are now possible unless revised. With healthcare provisions still under review, the bill’s future remains uncertain amidst legal challenges, bipartisan opposition.

Source: Thomson Reuters

💎 Rare Accounting Oddities

Your monthly reconciliations have ancient roots from the 9th-century inheritance accounting! Meet Al‑Khwarizmi, the Persian math wizard whose name gave birth to “algorithm.”

Tasked with solving complex inheritance disputes under Islamic law, he used algebra to fairly divide estates, and properties. His renowned algebraic manual, Kitāb al‑Jabr was a real-life financial problem solver, laying the groundwork for the balancing processes of accountants. 

So, when you meticulously balance assets = liabilities + equity, you’re now part of a 1,200-year-old ancient tradition. Proof that accounting’s been cool and necessary since forever.