09/04/2025

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

AICPA and CIMA surveys demonstrate leaders getting slightly optimistic, despite inflation and tariffs becoming a major concern. Of 275 CPA executives, 34% were upbeat about the economy. Over half (54%) expects a recession within the next year, reflecting caution.

Key indicators enhanced, with  revenue growth at 1.5%. IT, capital, and training investments rose slightly, with 16% of executives gradually hiring additional employees. Tariff-related concerns dropped to 58% from 67%, with rising prices, trimming costs, and supply chains.

Source: Journal of Accountancy 

💰 Making Cents of Accounting

#BackstreetBooks🧢🎵

📺 Advertisement

Tired of your same old everyday grind? Wisdify’s got newly established courses that are half practical, career-boosting, and CPA-approved:

🩺 Healthcare Fraud Prevention & Detection

Healthcare fraud detection secures patients, money, and your reputation. Armed with real-world case studies, red-flag spotting, and COSO triangle getting your auditors to move like detectives. 

• Sniff out upcoding, phantom billing, and useless patient methods

• Process data analytics to search fraud needles in data haystacks

• Comply toward False Claims Act, with other healthcare acronyms 

🤖 AI for Accountants

Think AI is just buzzword magic? Not anymore. This course teaches you how automation like ChatGPT, Gemini, and Copilot can actually do the usual manual work you really hate finishing.

• Create disorganized messages into focused “executive-speak.”

• Auto-suggesting journal entries (goodbye repetitive GL coding)

• Spotting fraud anomalies quicker than internal control process

Courses are packed into bite-sized 5–20 minute lessons, with various test quizzes and final assessment: because what’s CPE without some anxiety?

Always be on the move in Wisdify.

Source: Wisdify

💸 Profit & Loss Report

U.S. Treasury named 68 occupations covered under President Donald Trump’s “no tax on tips” in the One Big Beautiful Bill Act. This exempts workers from federal taxes up to $25,000 in tips and 250 overtime hours annually through 2028, offering relief for service and gig employees.

Jobs range from eight categories, from food service and hospitality to entertainment, wellness, and transportation, including bartenders, dealers, landscapers, drivers, and digital creators. In Maryland alone, over 105,000 tipped workers could possibly benefit the impact of tax breaks.

Source: CPA Practice Advisor  

💎 Rare Accounting Oddities

What if splitting the dragon’s hoard becomes your greatest spell? In some Dungeons & Dragons campaigns, accounting gets treated like a superpower, distributing loot shares without starting tavern brawls. 

In fact, “Accounting Mastery” is officially listed as a superpower on the Superpower Wiki, right alongside “Intuitive Aptitude.” Legendary characters like Petyr Baelish (Game of Thrones) are credited on this. 

So next time you’re reconciling financial books, picture yourself as the quiet wizard of your party turning ledgers into sorcery, and making sure not a golden, significant piece begins falling of the cracks.