07/08/2025

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

According to President Trump’s agenda, Senate Republicans confirmed tax leadership roles. Ken Kies was confirmed as Treasury Assistant Secretary for Tax Policy, bringing decades of experience from PwC and Capitol Hill. Billy Long was confirmed as IRS Commissioner, while Donald Korb, a former IRS Chief Counsel, is awaiting Senate confirmation for that same role.

Experts heighten the need for stable leadership to carry out provisions effectively. EY’s Kirsten Wielobob noted that 16 of the IRS's 28 top positions are still being filled by acting officials, and two remain vacant. Former IRS attorney Alexis MacIvor warned that implementing laws will require updated forms, clear guidance, and thorough resource allocation to manage workloads.

Source: Thomson Reuters

💰 Making Cents of Accounting

#SpreadsheetSorcery🧙🏻🔮

📺 Advertisement

You can define accounting terminologies while sleeping, but when Stark Law or HIPAA compliance are mentioned you start blinking like an open spreadsheet with 47 hidden tabs.

Wisdify’s Healthcare Accounting Series begins with gradually helping you survive in the healthcare finance industry without needing a law degree or a blood pressure monitor.

⚕️ Course #1: Healthcare Finance Data Analysis in Excel

10 Lessons | 2.5 CPEs | Specialized Knowledge

Transform raw, uncooperative healthcare data into useful dashboard systems your CFO will be looking forward to use. This hands-on, professional course dives into:

• Building various structured tables
  

• Creating dashboards for executives
  

• Modeling ROI, NPV, IRR for healthcare
  

• Perform and forecast scenario analysis 

🌱 Course #2: Healthcare ESG Reporting

14 Lessons | 2.5 CPEs | Business Management & Organization

You’ve heard of different buzzwords: sustainability, community impact, Schedule H. Now, turn ESG reporting from “kind of important” to “I know exactly what it means.” This course helps you:

• Decode GRI, TCFD, GHG Protocol frameworks
  

• Aligning ESG metrics with financial statements
  

• Report social impact, environmental risks, patient access
  

• Build high-quality, useful internal control systems

Be dangerous in healthcare compliance, ESG reporting, financial analytics. Gain confidence on healthcare terminologies, advantage in the competitive job market, earning CPE credits without going through soul-crushing, legal or healthcare discussions.

Learn more. Get compliant. Step in - one dashboard system and financial reporting at a time.

Source: Wisdify

💸 Profit & Loss Report

U.S. employers adds 147,000 jobs in June, pushing the unemployment rate down to 4.1%, reducing pressure on the Feds cutting rates. But private sector job growth is currently weakest since October, and the labor force participation rate fell. Foreign-born employment saw its largest non-pandemic drop, and gains were concentrated in government and healthcare jobs.

These warning signs back Fed’s wait-and-see approach despite the slowing economy. Fed Chair Jerome Powell and officials stressed caution, mentioning uncertainty and need for stability. Markets quickly adjusted—Treasury yields rose, and dollars gained value. Despite calls from administration, Fed is holding steady with projections up 75 basis point in cuts by year-end.

Source: CPA Practice Advisor 

💎 Rare Accounting Oddities

Prior to becoming the legendary TV detective Columbo, Pete Falk balanced financial statements efficiency at Connecticut’s State Budget Bureau. Yep, the king of “just one more thing” started out tracking finances, not criminals!

His accounting background established his detail-oriented state, making Columbo so brilliant in digging for inconsistencies, reading between the numbers (and the lies), outsmarting suspects just like auditors catching fraudulent activities.

So the next time you're knee-deep in spreadsheets or chasing a stubborn ledger discrepancy, just remember: you’re basically a detective in a suit. Who says accounting isn’t thrilling and fun?