The Thursday Accrual: December 11, 2025

Accountants Gone Wild

Federal Reserve Cuts Interest Rates, Splits on Inflation vs. Job Risks

The Federal Reserve made its third cut, lowering rates to 3.5%–3.75%, splitting over whether inflation or job softness is the larger risk. The 9–3 vote, the most divided since 2019, came as Powell said policy is now firm enough to curb prices while supporting the labor market.

Forecasts show one interest rate cut in 2026 and 2027, alongside higher expected growth at 2.3% and easing inflation. The Federal Reserve has also approved short-term Treasury purchases to maintain liquidity amidst political pressure and delayed economic results.

Source: CPA Practice Advisor

Cool Accounting Facts!

Did you know “cooking the books” means playing with numbers?

Do you know “cooking the books” really means fudging numbers? The phrase comes from an old use of “cook,” meaning “to falsify,” and was common in 19th-century accounting talk.

Like a chef making a stew, witty CPAs “seasons” their books — adding expenses, sprinkling in adjusted numbers, and boiling costs to make profits look more scrumptious.

It’s a great reminder that in accounting, presentation can impress, but only honesty satisfies. So if a CPA “cooked the books,” imagine kitchens filled with ledgers instead of ladles!

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Numbers Don’t Lie

IRS Guidance on Trump Accounts and Employer Contributions

The IRS issued guidance on Trump Accounts (TAs) and employer-funded TACPs alongside full regulations. By July 4, 2026, employees may exclude up to $2,500 annually in employer TACP contributions, with the limit applying per employee until a dependent turns 18.

TACPs may use cafeteria plan salary reductions for dependent TAs but not for an employee’s own account. Employers must also notify TA trustees when contributions qualify as TACP employer contributions, with more coordination rules and personal forms coming soon.

Source: Thomson Reuters

Twitter Showdown

“Balancing Sheets or Tears?”

Accountant A: “I love balancing sheets at 3 AM.”

Accountant B: “You mean crying over spreadsheets?”

Accountant A: “Whatever… same vibes anyway.”

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