06/18/2025

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

European regulators warn that dissolving PCAOB and shifting responsibilities to SEC impede global audit cooperation for years. The Committee of European Auditing Oversight Bodies (CEAOB) highlighted audit inspection threats, global market trust. With EU firms auditing $2.5 trillion in U.S.-listed companies, the worldwide impact could be significant for those affected.

The PCAOB was established after major scandals like Enron to restore investor confidence. As the global benchmark in audit oversight, experts say replacing it would create longer delays, increase fraud risk, and jeopardize delicate international agreements. European regulators are strongly aligned, removing the PCAOB could destabilize international financial oversight.

Source: Thomson Reuters

🧮 COOL AF! (Cool Accounting Facts!)

1854 was the year the Institute of Chartered Accountants in England and Wales (ICAEW) got founded, making it the world’s first professional accounting body laying down multiple rules.

ICAEW built the foundation for the accounting profession with strict,meticulous exams, ethical commitment, and historical milestones, transforming accountants from number-crunchers into global finance leaders. 

So, next time you’re sweating over nailing that cash flow statement, remember: you’re part of a career with historical roots, serious influence, and way cooler headquarters than most castles. 

You eat GAAP for breakfast, reconcile ledgers in your sleep, and can spot a journal entry mistake kilometers away. But when someone mentions HIPAA, Stark Law, or HITECH, your confident accountant swagger nervously turns into "Wait...do I need a lawyer for this?"

Wisdify’s Healthcare Accounting Programs are finally here kicking things off with a punch of financial power and legal clarity that won’t make your brain melt off quickly.

Accounting for Healthcare Technology Investments explore how to assess ROI, determine capitalizable vs. non-capitalizable costs under GAAP/IFRS, use amortization methods, and precisely report healthcare technological assets on financial statements. 

Healthcare Taxation & Compliance dives on for-profit vs. nonprofit tax treatments, IRS forms 990/1023/990-T, UBIT, 501(c)(3) compliance, tax incentives, audit preparedness, equipping CPAs to work significantly with healthcare organizations and make strategic financial decisions.

These professional courses are available through Wisdify, offering unlimited learning and various CPE credits through short-form videos, multiple quizzes, and final assessments. 

So if you're ready to make “Uhh… I think we need to ask legal professionals.” into “Let me walk you through the accounting implications of Stark Law in 60 seconds,” this is your moment.

Ready to feel just as confident in healthcare as you do in financial statements?

Source: Wisdify

🔢Numbers Don’t Lie

Tax Court has reinforced that active-duty military personnel claim moving expense deductions under current tax law. In Kent, Bench Order Dkt. No. 14884-23 (3/20/25), a contractor for the U.S. Air Force got relocation orders and claimed a deduction. However, the court denied, ruling she wasn’t on active-duty. Military orders alone don't qualify civilians for the deduction.

Taxpayers can deduct moving costs if distance was met, and time tests occurred. However, these deductions and reimbursements are suspended until 2025, except for active-duty military with official station changes. The Kent case underscores a distinction: employment by the military isn't enough. Only full-time, active-duty members are covered under TCJA exception.

Source: CPA Practice Advisor 

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