The Wednesday Accrual: December 31, 2025

Profit & Loss Report

$10B in New Markets Tax Credit for Rural Businesses & Communities

Treasury and the CDFI Fund announced $10 billion in New Markets Tax Credit allocations for the 2024–2025 round, boosting investment by 20% and directing over $2.4 billion to rural areas. The 142 awards will mainly support business investments in low-income communities.

The NMTC is now permanent, keeping the $5 billion annual cap and adding a five-year carry-forward. Treasury said future rounds will prioritize job creation, small businesses, rural health infrastructure, and affordable housing infrastructure for everyone involved. 

Source: Thomson Reuters

Rare Accounting Oddities

How’s NASA Tracking Billion-Dollar Missions Using Accounting?

While astronauts float in zero gravity, the International Space Station tracks expenses just like a major corporation. NASA uses accrual accounting, recording expenses when they happen.

Rocket fuel, and crew services are logged in real-time, orbiting Earth at 28,000 km/h. This gives Congress and taxpayers direct view of the actual price of keeping the ISS functional. 

This approach ensures mission costs are matched to real-life activities. So next time you think accounting is only for spreadsheets, remember: even in orbit, every journal entry counts.

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Journaling Insider

ACCA Moves to In-Person Testing Despite Worldwide CPA Shortages

ACCA ends online exams starting in March, requiring candidates to test in person. The move follows widespread cheating at major firms and the growing use of AI, which has outpaced safeguards despite remote testing improving accessibility amid a talent shortage.

High-profile fines highlight the problem: EY paid $100M to the SEC, KPMG and Deloitte $27M to the PCAOB, and PwC Israel $2.8M for exam misconduct. With over 257,900 members, the ACCA says in-person testing is now crucial to maintain exam integrity and public trust.

Source: Accounting Today

Making Cents of Accounting

“Love at First Entry”

Accountant 1: “I’ve always loved walking!”

Accountant 2: “Romantic ones?”

Accountant 1: “Walking through statements.”

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