The Friday 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

Accountant's $40K Shopping Spree

Here’s one for the “you can’t make this stuff up” files: A St. Louis-area accountant decided to treat himself to a $40,000 luxury shopping spree while on vacation—using his client’s money. The audacity? Unreal.

His boss caught wind of the missing cash and made a few calls. Next thing you know, the accountant’s vacation turned into a front-row seat to getting cuffed.

The moral? Hire a good accountant—but maybe don’t let them near your AmEx.

Source: Yahoo News

💎 What’s poppin in accounting

Big Firms Must Open Their Books to Uncle Sam

Starting in 2027, the U.S. Public Company Accounting Oversight Board (PCAOB) is requiring major accounting firms to submit annual financial statements. The goal? Shine a light on the firms that audit America’s biggest companies.

Firms will also need to cough up data like partner involvement and auditor turnover. Investors are hyped, but the big firms? Not so much. They’re already grumbling about the added workload and costs.

Source: WSJ

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 📊 Weekly Trend Chart

Comcast's Bold Move Amid Cord-Cutting Craze

Comcast just shoved most of its NBCUniversal cable networks—USA, E!, Syfy—into a new spin-off company. Why? Because cable is dying, and they’re done pretending otherwise.

Cord-cutting has been bleeding them dry for years, so instead of holding on to the past, Comcast is doubling down on Peacock (their streaming app) and broadband. Basically, they’re cutting the fat and going lean.

The message is clear: cable is toast, and the media giants know it.

#😂

Where are my senior partners at?  😂

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