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

Former AICPA President Barry Melancon Joins Baker Tilly International as Chair-Elect Board of Directors

Baker Tilly International (US) has appointed Former AICPA President Barry Melancon as company adviser and chair-elect of the Baker Tilly International board of directors. Melancon, whose leadership as CEO of the AICPA for nearly 30 years transformed the organization into the world’s largest accounting membership body, is set to bring his experience to help shape Baker Tilly’s future. His focus will be on enhancing client services, talent strategies, supporting global innovation and professional standards at both the US and international levels.

His strategic vision aligns with the firm’s commitment to growth, technological advancement, and excellence across international borders. This appointment comes shortly after Baker Tilly International showcased exemplary revenues, emphasizing the firm’s upward momentum. Melancon’s influence is expected to further propel Baker Tilly’s leadership, and collaboration in the accounting world, ensuring lasting impact and continued success.

Source: Baker Tilly International

🧮 COOL AF! (Cool Accounting Facts!)

Have you ever wondered about the origins of the word “accounting”? Where exactly did it come from?

The word "accounting" originates from the Latin word “computare”, which means "to calculate" or "to count," which gradually evolved into the Old French word acont (a reckoning or bill), before slowly turning into the English word “account" by the late 14th century.

The formalization of accounting originally began in ancient Mesopotamia around 3000 BCE, with the Sumerians using clay tablets to track inventories, evolving further with the contributions of ancient Egyptians, Greeks, and later, the Italian mathematician Luca Pacioli. This early meaning of accounting, which defines as the method of keeping records of financial transactions grew importance as societies expanded trade and commerce.

📺 Advertisement 

Looking for supplemental, online qualifying courses to help you improve your accounting game? 

Then, let me introduce to you everyone’s accounting holy grail miracle: Wisdify, the online website platform designed to simplify your accounting needs, giving learners a more comprehensive understanding, and deeper accounting insights, may it be with financial statements, journaling and t-accounts, or anything you can even think of! 

Whether you’re a startup business owner or a growing, multinational enterprise, Wisdify offers user-friendly tools, and supplemental accounting techniques, helping you manage your books, track expenses, and make smarter financial decisions.

🔢Numbers don’t Lie 

Shortage of CPA’s as 2025 Tax Season Kicks off Remains a Problem 

The U.S. accounting and tax industries are facing “CPA drought”, driven by the lack of new professionals entering the field. Fewer students are pursuing accounting, with a notable drop in the CPA examinees - 67,000 in 2022 compared to 72,000 the previous year. Many current professionals are retiring early, widening the gap as 75% of public accountants are expected to retire in the next 15 years. 

The 150-credit hour requirement, demanding hours, and low pay (with entry-level salaries starting around $33,000) are key factors discouraging people from becoming the profession. Burnout from long hours, tight deadlines, outdated technology, and low job flexibility has also led many professionals to flee shortly after entering.

Although reforms have been attempted, with improved technology and expanded accounting programs, the greater crisis remains unaddressed. As the 2025 tax season remains fast approaching, taxpayers face delays and errors, and the industry’s future is uncertain, with little progress in resolving the underlying issues.

Source: Kiplinger News

🐦 Twitter Showdown 

#CoffeeAndCalculations☕

P.S. Let us know what you think of today’s newsletter! Send us a feedback by replying to this email, we’d love to hear your insights!