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

Meta’s Accounting Trick Makes Profits Look Bigger

Meta just pulled a Wall Street classic, shuffling numbers to inflate profits without actually making more money. How? They extended the lifespan of their AI servers from four years to five. That means instead of taking a big expense hit now, they spread it out over a longer period, making profits look juicier in the short term.

Meta is burning billions on AI, and this accounting tweak keeps investors happy without changing the actual costs. It’s the financial version of moving food around on your plate to make it look like you ate more.

Source: Business Times

💎 What’s poppin in accounting

Public Companies Can’t Do Math

Accounting errors at public companies are surging, and experts are blaming it on increasingly complex financial rules. In 2023 alone, 1,470 companies had to correct their financial statements, a massive jump from previous years.

Mistakes in financial reporting can tank stock prices, trigger SEC scrutiny, and shake investor confidence. With new tax laws and reporting standards piling on, expect more headaches for accountants and a whole lot more "oops" filings.

Source: Forbes

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 📊 Weekly Trend Chart

Elon Musk Wants to Kill the Penny

The U.S. loses money making money, literally. It costs 3.69 cents to make a single penny, and Elon Musk (backed by his DOGE crew) is calling for the end of penny production to stop the waste.

The argument? Nobody uses pennies and the U.S. has been burning millions producing them. If Musk gets his way, the penny could go the way of Blockbuster, but not missed.

Honestly, I love this. I hate saving pennies but feel bad when I throw them out.

#😂

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