07/29/2025

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! 

📝 Journaling Insider

IRS has lost over 25,000 employees, raising concerns on its ability to establish sweeping changes under H.R. 1, the One Big Beautiful Bill Act (OBBBA). With budget heavy cuts in departments like Taxpayer Services, IT, and Communications, former IRS official Terry Lemons warns how tax professionals will be needing to step in order to fill various communication gaps.

Fewer IRS updates means distortion of facts could spread quickly, especially on complex topics like taxation, overtime rules, adjustments. Practitioners will now carry the responsibility of educating individuals, and guiding compliance without the agency's support. Tax communities will be playing a vital role in bridging policy gaps and misunderstandings during this moment. 

Source: Journal of Accountancy

💰 Making Cents of Accounting

#NoRefundClub😭💸

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You’re creating financial statements without breaking a sweat, however when someone mentions HIPAA Compliance or Finance Data Analysis, do you suddenly feel like your calculator’s out of batteries? 

Wisdify’s Healthcare Accounting Series is built for accountants entering healthcare finance without needing a JD. If you're already collaborating with healthcare clients or looking forward to pivoting in a high-growth industry, these courses are meant for you. 

💼 Course 1: Audit Administration Mastery: From Planning to Final Report

Healthcare audits isn’t exactly your garden-variety bank recs. Master the full auditing lifecycle with risk-based methodologies, internal controls, and regulatory compliance built in. Think of it as your financial GPS, guiding you from kickoff meetings to final reporting without any detours.

You’ll learn how to:

• Building audits tailored for healthcare environments

• Evaluate internal controls with clientele risk profiles 

• Create various audit documentations for higher-ups

• Share packed audit findings not just for regulators

📊 Course 2: Healthcare Finance Data Analysis in Excel

Is Excel your happy place until someone drops 10,000 rows of healthcare data in your lap? This is your next destination. Turn mountains of finance systems and CPT code processes into executive dashboards, financial models, ROI calculations your bosses will actually understand.

You’ll learn how to:

• Structure healthcare revenue and various cost data 

• Build interactive dashboards that executives will love 

• Perform cash flows, ROI periods, sensitivity analyses 

• Streamline reporting, modeling outcomes for projects

These courses are just Wisdify’s “tip of the iceberg”. Premium healthcare clients don’t just want someone who knows accounting. They need someone who understands their healthcare regulatory universe.

Bring your accounting expertise into healthcare’s arena without losing your sense of humor.

Source: Wisdify

💸 Profit & Loss Report

A new Economic Policy Institute (EPI) report warns how the government’s plan of deporting 4 million immigrants could eliminate nearly 6 million jobs nationally. This currently includes 3.3 million immigrant jobs and 2.6 million U.S.-born worker jobs, due to various interconnected roles. Removing immigrant labor disrupts demand and weakens U.S. overall employment.

Construction and child care industries will be affected hardest, shrinking by over 15%, accounting for nearly half the losses. States like California, Florida, Texas, and New York will face most damage. Deportations will also reduce consumer spending and entrepreneurship, lowering wages and slowing growth, destabilizing industries and shrinking the economy.

Source: CPA Practice Advisor 

💎 Rare Accounting Oddities

Before creating a magical empire, Walt Disney was a bookkeeper and commercial artist in Kansas City. That’s right, before cartoons, he was balancing ledgers and designing letterheads.

His pivot came after discovering books on animation at the local library, sparking his dream that led to Mickey Mouse (who was almost named Mortimer, until Walt’s wife brilliantly stepped in).

The kicker? Walt’s brother Roy handled the finances, proving how behind every creative genius is a numbers-savvy partner.  Accounting didn’t build Mickey, but it trained the man who did.