05/28/2025

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

DOGE and Treasury Department are pushing forward with IRS modernization efforts focused on cutting costs and replacing outdated systems, despite the program being $15 billion over budget. Authorities criticized inefficient spending, comparing IRS’s tech with obsolete banking systems as upgrades in the private sector would take only several years and far less money.

Meanwhile, a federal judge has blocked IRS workforce reductions after labor unions sued over plans to eliminate 70,000 positions, citing leaked memos and improper use of RIF procedures. The May 22 injunction by Judge Susan Illston halts massive-scale layoffs, explaining that such huge reorganizations likely require Congressional approval.

Source: Thomson Reuters

🧮 COOL AF! (Cool Accounting Facts!)

Long before spreadsheets, ancient Roman tax collectors, known as publicani, were infamous for “inventive” accounting. They bid on contracts, profiting over illegal financial activities. 

Corruption and bribery were so prevalent that ancient Roman leaders stepped in with history’s starting financial ethics laws. Think of it as the Roman Empire’s version of financial compliance. 

So, the next time you’re wrestling against financial statements, be thankful you’re not exchanging goats for validated tax credits — or bribing a senator to dodge auditing penalties.

Ready to negotiate “What’s Stark Law again?” for “Bring on the healthcare clients!” without drowning you in legal jargon?

Wisdify’s Healthcare Accounting Programs offers professional courses designed specifically for accountants looking to upgrade expertise in the complex world of healthcare industry. 

Healthcare Budgeting and Forecasting discusses how to make comprehensive budgets for healthcare, forecasting patient volumes, revenue recognition, while exercising cost management strategies. Healthcare-specific budgeting methods will be discussed, helping you analyze variances, payer mix, and scenario planning for management in healthcare settings.

Healthcare Mergers and Acquisitions focuses on healthcare valuation techniques, due diligence processes, and regulatory compliance issues like antitrust laws, payer-provider relationships. Deal structuring, risk assessment, and post-merger integration through real-world hospital case studies, preparing you to evaluate complex healthcare financial transactions 

Ready to decode complex budget variances, leverage predictive analytics, and use flexible planning techniques that healthcare demands? 

Elevate your skills where finance meets healthcare — without the headaches!

Source: Wisdify

🔢Numbers Don’t Lie

A Republican-backed House bill aims to repeal EV tax credits, production incentives, and charging station funding, risking higher EV costs and reduced investment. Supported by Trump, the bill establishes an annual EV fee, drawing criticism from leaders after Sen. Warnock mentioned how it benefits China’s EV market while hurting U.S. progress.

Industry experts say repealing incentives could stall EV adoption, reporting statistics on EVs making up 7.5% of Q1 2025 U.S. sales despite high prices and infrastructure concerns. Dealers largely support the recent credits, as experts warn that removing incentives reduces affordability, causing the U.S. to decline further behind global EV leaders like China.

Source: CPA Practice Advisor

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