07/16/2025

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! 

📝 Journaling Insider

Erica Williams steps down as PCAOB Chair on July 22, 2025, after reportedly being coordinated to resign by SEC Chair Paul Atkins. Williams led a strict regulatory agenda focused on investor protection, drawing both praise and criticism from the public. Her departure signals a change toward a more deregulatory PCAOB under new PCAOB leadership rule under Atkins.

During her previous terms, the PCAOB updated outdated standards, issuing quicker inspection reports, but accounting firms pushed back on new regulations they found burdensome. The PCAOB board is now expected to loosen enforcement and slow standard-setting. Board member Christina Ho, a regulatory overreach critic, is highly likely to stay in her position.

Source: Thomson Reuters

💰 Making Cents of Accounting

#GhostPurchases👻💸

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Source: Wisdify

💸 Profit & Loss Report

High mortgage rates pushed affordability to a 30-year low, causing new home sales to flatten month-over-month and drop 6.9% year-over-year. Builders are offering more construction price cuts and various incentives, while quick move-in (QMI) inventory rose 22% from last year, with Seattle, Charlotte, and Washington, DC seeing the largest homeowner spikes.

Home prices declined slightly for entry-level and move-up homes but rose 0.4% for high-end properties, with 35% of builders cutting prices in April. National community grew 7.3% year-over-year but remains 16.9% below 2019 levels, with Orlando, Charlotte showing the most growth as Washington, Las Vegas posting the steepest declines.

Source: CPA Practice Advisory

💎 Rare Accounting Oddities

Behind every passive-aggressive Angela glare, Oscar’s deadpan financial wisdom, and Kevin’s wildly inaccurate solutions, there were real number crunchers ensuring things were authentic.

Writers brought in actual CPAs to make every characters' quirks relatable. NBC even spun off a web series, The Accountants, where they investigate $3,000 gone missing. The result? A Daytime Emmy with their new favorite community. 

So the next time your spreadsheets have you down, remember: somewhere between petty cash mysteries and passive-aggressive documents, accounting remains iconic, and TV-worthy.