07/17/2025

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

U.S tax spending act continues expiring provisions from the 2017 Tax Cuts and Jobs Act, adding new deductions for tips and overtime, while adjusting clean energy credit phase-outs. However, the law regulations got hastily drafted with last-minute negotiations, resulting in technical errors needing future corrections. Regulators now face turning vague legislation into enforceable rules amidst weakened IRS manpower and major budget funding cuts.

Tax practitioners are currently preparing for challenges while reviewing the law and strategizing  client advisory movement. Early IRS guidance may rely on FAQs, announcements before moving toward reliable notices and formal regulations, which might take longer. Firms are launching internal task forces, producing webinars and articles, analyzing tax software flagging clients affected by changes to R&D deductions, SALT limitations, and new phase-outs.

Source: Thomson Reuters

🧮 COOL AF! (Cool Accounting Facts!)

Did you know that long before Excel was a global domination, Buddhist monks in 17th-century Japan were keeping meticulous accounting records on handwritten scrolls called mokuroku? 

Each mokuroku scroll recorded donations, temple expenses, and sacred inventory with a level of personal care that would get any modern CPA proud. With delicate calligraphy and spiritual precision, Japanese monks tracked every coin offered, sometimes including personal details!

This showcases a gentle reminder that accounting has been more than numbers—it’s about honoring every contribution, whether it’s for spiritual enlightenment or just yearly fiscal reporting. 

You’ve conquered GAAP effortlessly while sleeping, but when HIPAA compliance, or Stark Law gets casually mentioned, do your Excel-hardened fingers begin shivering with anxiety?

Wisdify’s Healthcare Accounting Series is designed for accountants that are numbers-wizard and legally-cautious, filled with professional courses that actually make sense with your career growth.

💉 Healthcare Finance Data Analysis in Excel

Excel’s your strength. But what if you could wield everything like a healthcare finance Jedi? This professional course dives into real-world healthcare data, showing you first-hand ways to:

• Break down healthcare-specific revenue/cost categories
  

• Make exec pivot dashboards, various cash flow models
  

• Solve for ROI analysis necessary for decisions-making

🌱 Healthcare ESG Reporting

ESG reporting in healthcare isn’t just about nonprofits anymore. It’s for the modern accountant who primarily knows the language of sustainability AND spreadsheets fluently. Learn how to:

•  Align ESG reporting metrics with financial reporting
  

• Establish GRI, TCFD, and GHG Protocol frameworks
  

• Quantify ESG’s cost savings, risk reduction initiatives

Are you searching to land premium healthcare clients, transitioning with healthcare roles, or  just simply building regulatory compliance without drowning in legalese? You’re in luck: this is your golden syringe. 

Trade your fear of healthcare regulations with spreadsheet formulas and ESG frameworks combined with Wisdify - you’ll thank us sooner than later. 

Source: Wisdify

🔢Numbers Don’t Lie

Xero has partnered with Plaid in tripling the number of high-quality bank feeds available to U.S. users by late 2025. The phased rollout will be tapping into Plaid’s network of 1,000+ financial institutions, including smaller banks and credit unions. This business move aims to give small businesses real-time financial access using OAuth-powered direct connections for better accuracy.

Plaid will increasingly support Xero’s U.S. bank feeds, enhancing data quality and connection stability. Xero will guide users through a smooth migration process with direct, proactive instructions. The partnership will be saving time for both while improving efficiency for small business owners, accountants, bookkeepers through info problem reduction and smarter business decisions.

Source: CPA Practice Advisor

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