06/12/2025

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

House Republicans narrowly passed a rule (213–207) to fix said reconciliation bill, removing provisions that violated Senate rules. Deleted items included AI regulation limits, judicial contempt restrictions, fraud enforcement, and over $2.5B in military funding. Despite GOP dissent and Democratic pressure, the corrections preserved the bill’s filibuster-proof status.

The bill, significant to Trump’s agenda on tax cuts and debt limits, now moves forward to the Senate. Senate Republicans draft their own version, skipping markups, while aiming for a Friday release. Deleted military funds could return with delayed use in meeting treaty agreements. The process shows reconciliation’s limits in advancing partisan legislation.

Source: CPA Practice Advisor

💰 Making Cents of Accounting

#CleaningTheSheets🧼✨

Ever felt like you could reconcile balance sheets in your sleep but nervously fidget when HIPAA or Stark Law gets mentioned? Don’t worry, you’re not alone.

Wisdify’s Healthcare Accounting Series is established for CPAs wandering into the healthcare compliance scene — with zero legalese-induced migraines. 

Healthcare Taxation & Compliance equips learners with knowledge in handling tax rules and reporting for both nonprofit and for-profit healthcare organizations. The course breaks down IRS forms like 990, 1023, and 990-T, dives into 501(c)(3) compliance, and explains how to identify, apply tax credits such as ERC, R&D credits, and green energy incentives. You’ll also learn to recognize Unrelated Business Income (UBI), while applying UBIT rules to ensure your documentation, audit preparedness, and various tax filings remain defensible.

Risk Management in Healthcare Finance helps identify and mitigate healthcare-specific financial, operational, and compliance risks. Using tools like a downloadable Risk Register and real-world HOSPITAL case studies, the program covers fraud prevention, regulatory threats, cybersecurity, risk scoring, and effective internal controls.Using data analytics when forecasting, aligning insurance strategies with risk exposure, and embedding risk awareness into organizational planning will be rigorously tackled by industry professionals.

Whether you're looking for high-value clients in the medical field or eyeing a courageous leap into a healthcare organization, these new professional courses are designed just for you.

Start your Healthcare Accounting journey now, exclusively on Wisdify.

Source: Wisdify

💸 Profit & Loss Report

The Federal Circuit granted a stay of a lower court's nationwide injunction, temporarily keeping many Trump-era tariffs in place while fast-tracking the appeal process. Oral arguments remain scheduled for July 31, as the court emphasized the case’s importance and ordered an en banc hearing.

Complications whether the International Emergency Economic Powers Act (IEEPA) grants the president authority to impose tariffs—something the U.S. Court of International Trade unanimously rejected. Plaintiffs called tariffs a “breathtaking power grab,” while government lawyers argue the injunction undermines U.S. trade leverage, and national security.

Source: Journal of Accountancy

💎 Rare Accounting Oddities

Do you feel like your spreadsheets could use a little holy intervention? Meet St. Matthew—the patron saint of accountants, beginning his career as a tax collector in ancient Rome. 

With a sharp eye for detail, multilingual fluency, and  front-row seat to ethical dilemmas, Matthew is the ultimate symbol of transformation, personal integrity, and calculated faith. 

So, the next time you begin reconciling various ledgers, remember: St. Matthew once did too—just with ancient scrolls instead of Excel spreadsheets.