03/06/2025

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! 

💸 Profit & Loss Report

CPA executives' confidence in the U.S. economy has dropped 20 percentage points, with only 47% remaining optimistic, down from 67% post-election, according to the latest AICPA & CIMA survey. Tariffs are a major concern, with 59% of respondents expecting a negative impact on business. Global economic optimism also fell from 41% to 29%, and only half of leaders feel confident about their organization’s 12-month outlook. Larger businesses ($1 billion+ in revenue) are more likely to expand, while smaller companies report declining growth expectations. 

Hiring needs remain steady at 39%, though fewer organizations believe they have the right number of employees. Revenue growth projections dipped to 3%, while profit forecasts fell to 1.7%. Inflation remains the top business challenge, followed by rising employee costs and skilled labor shortages. Despite a pro-business administration, concerns over tariffs, high interest rates, and inflation continue to dampen economic confidence among CFOs, CEOs, and controllers, shaping a more cautious outlook for 2025.

Source: Journal of Accountancy

💎 Rare Accounting Oddities

Ever wondered if a career in accounting is worth the number crunching? Well, Glassdoor reports that US accountants earn an average of $71,550 per year — a salary that’s definitely worth stressing for! While earnings vary based on location, professional industry, and work experience, accounting offers competitive pay, financial stability, and plenty of room for growth.

Looking to boost your paycheck? Specializing in finance, tech, or earning a CPA certification can push your salary even higher. And if you land a job in a high-cost city, expect bigger numbers (but maybe a smaller apartment). Whether you’re just starting out or climbing the ladder, accounting isn’t just a great career — it’s a smart investment! 

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Source: Wisdify

📝 Journaling Insider

The AICPA and NASBA are seeking public feedback on a third pathway to CPA licensure, allowing candidates to earn a bachelor’s degree with an accounting concentration, complete two years of professional experience, and pass the Uniform CPA Exam — an alternative to the 150-credit-hour requirement. The proposal also introduces CPA mobility, enabling CPAs to practice in multiple states with a single license. 

With states like Ohio and Virginia already implementing changes, the proposal aims to strengthen the CPA pipeline and get talent from diverse backgrounds. The updates incorporate feedback from a 2024 exposure draft and ongoing input from state CPA societies and boards of accountancy. Public comments are open until May 3, 2025, allowing stakeholders to help shape the future of CPA licensing.

Source: Accounting Today

💰 Making Cents of Accounting

#CreditsToPacioli📊💰