The Monday 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

Tesla’s $600M Bitcoin Boost

Tesla’s Bitcoin stash just added $600 million to its profits, all thanks to a new accounting rule. The rule lets companies report crypto gains as soon as the value goes up no need to sell. Basically, Bitcoin’s recent price spike made Tesla look like a genius on paper.

This is Elon Musk doing Elon Musk things. Love or hate crypto, this is a big win for Tesla’s books and a reminder that accounting rules can turn digital coins into real dollars fast.

Source AOL

💎 What’s poppin in accounting

Wayfair Swaps EY for PwC as Auditor

Wayfair just dropped EY and brought on PwC as its new auditor. These deals can be worth millions, auditors for large public companies like Wayfair often earn $5M to $15M annually, depending on the complexity of the work.

Why the switch? Wayfair hasn’t said much, but it comes as the company looks to tighten up its financials after facing slowing growth and big cost cuts. Sometimes, swapping auditors is about getting a fresh perspective, other times it’s because something behind the scenes isn’t adding up. PwC now gets the hot seat to sort it all out.

Source Ivesting.com

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 📊 Weekly Trend Chart

Amex Keeps Printing Money

Amex is making it rain. They’ve got 147 million cards out there, up from 112 million in 2014. Even crazier They’ve doubled the average annual fee per card to $103 from just $40 a decade ago.

Why It’s not just a credit card, it’s a flex! High-spending customers are happy to pay for the perks, and Amex keeps cranking out profits. The formula is simple Charge more make it feel exclusive and watch the money roll in.

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