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

Half of U.S. States Are Broke

A new report says 25 states don’t have enough money to cover their bills. Politicians make budgets look balanced by skipping costs like pensions, basically putting it on the credit card for future taxpayers.

States owe $2.9T against $2.2T in assets, with $832B tied to pensions. Worst off: New Jersey, Connecticut, Illinois, Massachusetts, and California. Best off: North Dakota, Alaska, Wyoming, Utah, and Tennessee.

In some states, taxpayers would need to cough up five figures each just to break even.

Source: Stateline

💎 What’s poppin in accounting

From Billable Hours to Subscriptions

Accounting firms are ditching timesheets for subscription style pricing. Think Netflix plans: basic, standard, premium, plus add-ons. Clients get clarity, firms get steady cash flow, and advisors stop haggling over hours.

The firms winning are talking outcomes, less stress, more savings, instead of tasks. Package services, bill monthly, review often, and sell results. It’s a recipe for stronger loyalty and bigger margins.

Source: Thomson Reuters Institute

 📊 Weekly Trend Chart

Gen Z Brings Back the iPod

Cellphone bans + nostalgia = iPods are suddenly hot again. Google searches for old models like the Nano and even the OG iPod are spiking, with kids hitting up eBay for secondhand gadgets.

It’s not just about music, it’s an accessory flex. Pair it with early 2010s fashion, cartoon tees, or vintage cameras in blind boxes, and you’ve got the full retro starter pack.

#😂 

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