The Monday Accrual: October 20, 2025

October 20, 2025

10/20/2025

Profit & Loss Report

Chicago’s Per Head Tax Returns, Joins the ‘Ultra-Rich’ in 2026 Budget

Mayor Brandon Johnson’s $16.6 billion 2026 budget revives a $21-per-employee head tax on companies with over 100 workers, expecting to raise approximately $100 million for community safety while further avoiding property and grocery tax hikes.

The government plan relies on $438 million in new taxes and fees, including higher levies on tech giants, rideshares, and sports betting. Supporters call the move fair and progressive, while experts warn it could drive businesses out and hurt job growth.

Accounting Oddities

What if your budget forecast determines who gets a hospital bed first?

DYK that hospitals use cost-accounting to shape how care gets provided?

Healthcare accounting decides when to buy a new ventilator, where to add more nurses, and how to cut patient wait times all by revealing which costs improve outcomes.

So, the next time you balance ledgers, remember: you might not wear scrubs, but your numbers could be saving lives. Accounting is the quiet pulse behind hospitals worldwide.

Boost your expertise, and organize processes quicker in Wisdify.

Transform messy spreadsheets into automated workflows. Learn Alteryx  your low-code equipment to organize, connect, and report financial data quicker.

Spot fraudulent healthcare moves before it strikes. Master data analytic controls to detect and prevent fraud actions with real-world cases involved.

Grow your accounting knowledge better daily in Wisdify now!

Journaling Insider

SEC Global Pushback Over Proposal to Redefine Foreign Issuer Status

Major accounting firms warned SEC that pressuring foreign private issuers (FPIs) to adopt U.S. GAAP would lead to higher costs, system overhauls, and inefficiencies. Many FPIs lack U.S. GAAP expertise and would face major disruptions in reporting and compliance.

The SEC is currently reviewing its FPI rules for the first time since 2008, sparking global concern. Most of the 77 comment letters urged caution, while some U.S. officials pushed for stricter limitations on FPIs from “foreign adversary” nations involved such as China.

Making Cents of Accounting

Accountant 1: My therapist said I need to open up more.

Accountant 2: So you opened a new ledger account?

Accountant 1: Exactly. It’s called “Emotional Expenses.”