05/20/2025

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! 

📊 Accountants Gone WILD

The House Budget Committee initially rejected the 2025 budget reconciliation bill in a 21-16 vote, with Republicans joining Democrats in opposition. Their concerns included $3.8 trillion in tax cuts driving early deficits, continued Medicaid expansion for able-bodied adults, and ongoing subsidies for wind and solar energy they say harm domestic jobs and grid reliability.

A second vote on May 19 advanced the bill by a narrow 17-16 margin after Smucker switched to “yes” and four Republicans voted “present.” The bill, now moving to the House Rules Committee on May 21, faces a tight timeline, with GOP leaders targeting Memorial Day for passage amid internal disputes and looming debt ceiling deadlines in August.

Source: Thomson Reuters

🧮 COOL AF! (Cool Accounting Facts!)

In Dubai, accounting isn’t just debits and credits — holy compliance also takes responsibility. Accountants often work under Sharia law, banning interests while promoting ethical, asset-backed transactions. 

They follow established standards from the AAOIFI, blending international accounting principles with Islamic finance rules. Faith and business coexist when talking about financial processes. 

So while most accountants worry about GAAP or IFRS, Dubai’s number wizards must also brush up on religious jurisprudence.

Are you someone who can break down financial statements confidently but get that sinking feeling the moment someone mentions HIPAA or Stark Law? You’re not alone — and we’ve got your prescription.

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Healthcare Budgeting & Forecasting (3.0 CPEs) focuses on managing budgets that involves patient volumes, complex payer mixes, and operational problems. You’ll master zero-based, flexible budgeting and directly tackle real hospital case studies so you can forecast result-driven decisions. 

Financial Statement Analysis in Healthcare (2.5 CPEs) decodes statements in compliance with healthcare regulations. Nonprofit vs. for-profit reporting, liquidity hospital issues, and even revenue recognition focused on insurance reimbursements and government payers will be discussed. 

Stop letting the regulatory fine print scare off your professional growth. Your CPA skills are already excellent— now let's make them surgical.

Source: Wisdify

🔢Numbers Don’t Lie

Social Security recipients in default on federal student loans will face up to a 15% benefit reduction under the revived Treasury Offset Program (TOP). The said deductions apply to both retirement and disability payments, with checks not falling below $750, now currently based on total benefit before deductions settle in.

Roughly 450,000 elderly borrowers are vulnerable, part of 2.9 million senior borrowers — a 71% increase since 2017. The Department of Education has begun notifying 195,000 affected individuals, all receiving a 30-day prior notice before garnishments begin taking place as establishment of broader post-COVID collections.

Source: CPA Practice Advisor

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