05/15/2025

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

A new CPA licensure path has been established through amendments to the Uniform Accountancy Act (UAA), allowing candidates to qualify with a bachelor’s degree, two years of professional experience, and passing the CPA Exam, adding to existing paths requiring one year of experience, a bachelor’s degree with 30 additional credits or either masters. 

The updated UAA changes from state-based to individual-based practice mobility, enabling CPAs to work across state lines with one license. A safe-harbor provision protects CPAs licensed under standards as of December 31, 2024, while AICPA and NASBA continue to support state adoption policies and ensure public protection and professional relevance.

Source: Journal of Accountancy

🧮 COOL AF! (Cool Accounting Facts!)

Turns out, your Excel skills have royal roots! In ancient Egypt, scribes were used as the original bookkeepers — documenting taxes, inventories using hieroglyphics on papyrus scrolls.

Scribes weren’t just documentors for the Pharaoh, they were professionals, managing the kingdom’s wealth and resources carefully, recording every valuable material laid upon them.

Now, whenever you’re filing expense reports, just remember: you’re carrying on a tradition that started along the banks of the Nile. Your brain is literally full of ancient wisdom!

Ready to exchange your accounting comfort zone for the wild adventure of healthcare finances? Don’t worry — we’re not sending you clueless! Wisdify’s Healthcare Accounting Courses break down those intimidating regulations and complicated billing processes into accountant-friendly lessons. 

Starting off with the foundation: Regulatory Frameworks in Healthcare Accounting elaborates compliance topics such as HIPAA, Medicare, Medicaid, and Stark Law, with audit processes and fraud prevention mechanisms. This course lays the groundwork for reimbursement models, and financial compliance, helping accountants succeed. 

Furthermore, the Revenue Recognition in Healthcare applies various ASC 606 and GAAP regulations within healthcare billing models like bundled payments and capitation, addressing challenges such as revenue recognition over time and uncompensated care. 

Lastly, Cost Accounting in Healthcare teaches cost allocation, activity-based costing, and strategies to improve profitability and financial decision-making in healthcare settings. This course provides great learnings for CPAs shifting trajectory in the healthcare accounting world

Master healthcare’s financial jungle with confidence. Sign up for Wisdify’s Healthcare Accounting Series and turn your “Wait, what’s Stark Law?” moments into “Bring it on!” victories.

Source: Wisdify

🔢Numbers Don’t Lie

Under Trump’s directive, several IRS criminal investigators in Chicago may be temporarily assigned to help with immigration enforcement, including locating undocumented immigrants, gang suspects, and separated children. These agents, usually focused on monetary crimes, will be trained accordingly on immigration law and are barred from sharing personal tax information.

The reassignment follows a request from DHS Secretary Kristi Noem to Treasury Secretary Scott Bessent, citing the IRS’s expanded workforce and law enforcement capacity. A memorandum of understanding allows DHS to access IRS data only for criminal cases, a distinction upheld by a federal judge amidst legal challenges from immigrant rights groups.

Source: Chicago Tribune

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