The Wednesday 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

Super Micro whistleblower doubles down

Super Micro, a major player in AI server manufacturing, is under the microscope again. A whistleblower who previously accused the company of cooking the books and funneling money through shady deals tied to its CEO, Charles Liang, has doubled down with even more evidence. The allegations have sparked a DOJ investigation and sent the company's stock on a rollercoaster ride.

At first, things looked up, a special committee found no evidence of fraud, and the stock surged 30% earlier this week. But just as quickly, reality set in. On Tuesday, shares dropped 4.3%, signaling investor skepticism remains strong.

With the whistleblower refusing to back down and new governance changes underway at Super Micro, the drama isn’t over. Stay tuned, this one’s worth watching.

💎 What’s poppin in accounting

FASB’s New Plan to Simplify Credit Losses

FASB wants to make life easier for private companies and nonprofits. Right now, the CECL model for reporting credit losses is expensive and overly complicated. The new proposal? Use historical data to estimate losses or pick a streamlined option for short-term receivables. It’s less work, less cost, and more practical. Feedback’s open until January 17, 2025, your chance to weigh in.

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 📊 Weekly Trend Chart

Thanksgiving Box Office Breaks Records

This Thanksgiving, North American theaters hit an all-time high, raking in $420M. Leading the charge was Disney's "Moana 2," which brought in a massive $221M, followed by Universal’s "Wicked" with $117M. It’s the biggest Thanksgiving box office ever, signaling a strong comeback for movie theaters.

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