⬇️ The Thursday Lowdown ⬇️

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

I scroll. so you don’t have to.

💎 WTF of the Day

Developer Sues Bahamas Resort

A developer is suing Genting Americas, the company behind a major Bahamas resort, accusing them of some seriously shady accounting. The lawsuit claims Genting cooked the books to cover up millions in losses.

The developer says Genting reported inflated profits and hid financial issues in the resort project, making the numbers look a whole lot rosier than they actually were. Now, they’re taking them to court over what they call fraudulent accounting.

💎 What’s poppin in accounting

Intuit’s Ad Backfire Upsets Tax Pros

Intuit just stepped in it big time. In their latest ad campaign, the TurboTax parent company accidentally threw shade at accountants, making it sound like tax pros were unnecessary or, worse, replaceable. As you can guess, that didn’t sit well with the accounting community.

Tax pros were quick to clap back, calling out Intuit for downplaying the importance of real, human accountants in complex tax matters. Intuit, realizing they majorly messed up, scrambled to apologize and backtrack on the campaign. But the damage might already be done, tax pros aren’t likely to forget this one anytime soon.

Watch the ad

💎 Did you know?

From Ledgers to Legends

Bet you didn’t know this before Mick Jagger was strutting on stage with The Rolling Stones, he was this close to becoming... an accountant. Yep, Jagger studied accounting at the London School of Economics. Turns out, those number crunching skills might’ve helped him navigate the crazy world of the music biz. 

Who knew the "Satisfaction" singer could’ve been balancing your books?

 📊 Weekly Trend Chart

Harvard’s Got Even Harder to Get Into

Getting into Harvard was never a walk in the park, but now? It’s a full blown battlefield. Over the last 20 years, Harvard’s acceptance rate has tanked, from around 11% in the early 2000s to a brutal 3.4% today. That means only about 3 out of every 100 applicants get the golden ticket. And are the people really winning? Consultants. Yep, there’s a whole industry of college consultants raking in millions to help families get their kids into the Ivy League.

These consultants promise to guide you through the maze of test scores, personal essays, and extracurriculars that’ll give you a shot at cracking that elite code. And parents are paying big bucks for it, with some forking over up to $30,000 just for application help. It’s like SAT prep on steroids

#😂

Hows Q4 going? 😂

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