05/29/2025

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

The House passed the One Big Beautiful Bill Act (H.R. 1) with budget scorers estimating the federal deficit will increase by $2.3 to $3.2 trillion over 10 years. The Penn Wharton Budget Model attributes cost to $4.3 trillion in tax cuts, partially offset by $1.79 trillion in spending cuts, while economic growth savings are delayed, insufficient to close various gaps in the short term.

Analyses by ITEP and CBPP show the bill’s tax cuts are heavily skewed towards the wealthy, with the top 1% receiving $121 billion in 2025, more than the entire bottom 60% combined. By 2026, the poorest fifth would get just 1% of benefits, while low-income earners could lose up to $820 on average due to spending cuts and various tariff effects that remove modest gains.

Source: Thomson Reuters

💎 Rare Accounting Oddities

With a combined global headcount of around 1.5 million, Deloitte, PwC, EY, and KPMG outnumber Iceland’s population of just under 400,000 nearly fourfold, outnumbering them!

This jaw-dropping stat doesn’t just make for great national trivia; it speaks volumes about their universal reach, accountability, and positive impact on the global business economy. 

So, the next time you spot an accountant in the wild, remember how they might be part of an "island-sized" workforce shaping the financial perspective of the world.

Ready to finally conquer the healthcare regulatory jungle without needing a law degree? Wisdify’s Healthcare Accounting Series turns your legally-induced nervous jitters into confidence with accountant-friendly breakdowns!

Healthcare Budgeting and Forecasting guides you through developing reports, forecasting patient volumes, and managing costs with precision. You’ll learn practical budgeting methodologies while using data analytics, payer mix analysis, and scenario planning to real-world hospital case studies, arming you with expertise needed in creating financial plans.

Healthcare Mergers and Acquisitions navigates valuation techniques for healthcare organizations, due diligence processes, identifying financial risks, and regulatory compliance processes. You’ll explore deal structures, integration strategies, and post-merger challenges through various case studies, helping you evaluate opportunities, and lead successful mergers.

Each professional course delivers comprehensive videos, final assessments, and hands-on examples designed for accountants ready to elevate their healthcare game.

Step up your regulatory confidence by focusing where it counts.

Source: Wisdify

📝 Journaling Insider

Congress is advancing a $5 billion federal tax credit scholarship plan supporting private school tuition and related K–12 expenses for households earning under 300% of area median income. Experts warn it could benefit wealthy taxpayers by full reimbursements and capital gains loopholes, rivaling the scale of Title I, offering no clear financial aid to public school students.

The proposal faces bipartisan concern over its unclear impact on public education, potential for tuition hikes, and federal overreach despite some conservative support. The scholarship plan could shift state policies toward private school funding and pass with just 51 Senate votes as part of a tax bill, making national private school choice more likely than its counterpart option. 

Source: CPA Practice Advisor

💰 Making Cents of Accounting

#AccountingRaiseGhosted👻💰