The Thursday Lowdown ⬇️

If you're new around here, every day I share the 4-5 best accounting insights I saw in the past 24 hours.

I scroll. so you don't have to.

💎 WTF of the Day

Grand Rapids Axes Its Accounting Team

Grand Rapids dismantled its entire accounting department with just one day’s notice. Even the guy in charge was blindsided. The city says this will “streamline operations,” but critics are raising alarms.

This team handles payroll and payments, kind of important stuff. Who’s keeping track of the city’s money now? Bold move or financial chaos incoming?

💎 What’s poppin in accounting

SEC Approves Record PCAOB Budget

The SEC has approved a $399 million budget for the PCAOB in 2025, its largest ever. $346 million will come from an accounting support fee, funding stricter audit oversight, modernized auditing standards, and expanded enforcement efforts.

With this level of investment, accounting firms should expect more scrutiny and possibly higher compliance costs. Stay sharp, auditors.

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 📊 Weekly Trend Chart

Netflix Doubles Down on International Content

Netflix is now spending just as much on content overseas as it does in North America. Why? Shows like Squid Game have proven that global hits can rake in massive audiences.

With international subscribers making up over 60% of Netflix’s user base, it’s clear the company sees the future in cross the border binge watching. North America might still get the big premieres, but the next breakout hit could be filmed anywhere.

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