04/16/2025

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

PwC has exited over a dozen countries labeled too small, risky, or unprofitable to avoid further scandals, as reported by the Financial Times. Local partners say they lost over a third of their business after pressure to drop risky clients. The firm also cut ties with its Sub-Saharan Francophone Africa offices. The firm continues to face layoffs, client losses, and mounting global scrutiny.

The move follows penalties, with a $62 million fine and six-month suspension in China over audit failures tied to Evergrande’s $78 billion fraud, and a £4.5 million fine in the UK for auditing failures at Wyelands Bank. PwC is also trying to repair relations with Saudi Arabia after its $925 billion wealth fund suspended dealings.

Source: Thomson Reuters

🧮 COOL AF! (Cool Accounting Facts!)

Yup, it’s true! The word "redivider"— a word that reads the same backward and forward perfectly mirrors the balancing accountants perform every day. 

In the world of accounting, symmetry is everything, and redivider portrays the idea of balancing, just like accountants do with their financial statements.

So, next time you’re balancing acts, remember the linguistic twist accounting has up its sleeve. Who knew your ledgers had a connection to palindromes?

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🔢Numbers Don’t Lie

The AICPA is backing the Accounting STEM Pursuit Act of 2025, a bipartisan bill introduced to include accounting in STEM education. The bill would allow K–12 STEM grant funding to support accounting programs, with a focus on improving access for underrepresented students. Accounting would be recognized under the “technology” portion of STEM.

AICPA CEO Sue Coffey said the move reflects accounting’s alignment with STEM values and its role in today’s business world. The AICPA believes STEM recognition will strengthen said talent pipeline, expose more students to accounting careers, and expand opportunities in underserved communities. The organization is urging Congress to support the bill.

Source: Journal of Accountancy

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