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Pipeline positivity
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CFO Brew // Morning Brew // Update
Is the accounting talent shortage about to improve?

It’s back to Monday. And the Fed’s headquarters are getting a makeover…for $2.5 billion. Are we sure it doesn’t just need to remove its glasses to show how beautiful it was all along?

In this issue:

Bright spot?

Car crash

Ghosted

Jesse Klein, Natasha Piñon, Adam DeRose

TALENT MANAGEMENT

Student loan accounting pipeline

Illustration: Brittany Holloway-Brown, Photos: Adobe Stock

Like just about everything in 2025, the student loan environment is, well, complicated.

After years of uncertainty about the fate of student loan repayments, things quickly became more certain when President Trump returned to office: Borrowers are firmly on the hook, and with fewer repayment options than before.

Some of the immediate impacts of the repayments could include a drop in short-term consumer spending, including “a reduction in housing demand, in everything from vehicles to discretionary spending in restaurants,” Michael Jones, a professor at the University of Cincinnati who focuses on the economics of education and labor, told CFO Brew.

“In somewhat of an ironic way,” though, these immediate pains could provide some longer-term certainty for a generation of students increasingly looking at undergraduate studies as a ROI proposition, he continued.

At the most basic level, simply knowing that this administration is going to keep pressure on borrowers to get back in repayment (or knowing that repayment options are increasingly limited), may motivate students to pursue majors and early career options that more immediately have a financial “trade-off”—and that could be a welcome reprieve for the strained accounting pipeline.

Will student loan changes improve the accounting pipeline?NP

Presented By Anrok

EARNINGS

Tesla hood decal in the rain

Nurphoto/Getty Images

You probably won’t see Elon posting about this news much.

Tesla’s total revenue fell for the second straight quarter, coming in at $22.5 billion, slightly less than the $22.6 billion–$22.7 billion analysts forecast. This represents a 12% YoY revenue drop, down from $25.5 billion a year ago.

Tesla—and Musk—have had a rocky 2025. At the beginning of the year, the company seemed poised to reap the benefits of President Trump’s favor as Musk palled around with the president as head of the “Department of Government Efficiency.”

But the happy days didn’t last long—Trump and Musk fell out earlier this summer, and Tesla’s customer base soured on Musk’s involvement with Trump. Now the blowback is showing up in Tesla’s balance sheet; deliveries fell 13% YoY. And there are more sales challenges on the horizon: Trump’s “One Big Beautiful Bill” cuts the $7,500 tax credit for electric vehicles at the end of September, making the company’s vehicles more expensive to buy.

On the earnings call, Musk pointed to the expiring EV credit as a factor that could hurt future Tesla sales, warning that the company “probably could have a few rough quarters.”

How bad can it get for Tesla?JK

FRAUD

Image of a face with a long nose extending out toward a mask to represent a deepfake.

Wildpixel/Getty Images

Move over, “Tell me your biggest weakness”—a new weird interview question has surfaced: “Can you wave?”

Not kidding.

AI-generated deepfakes and candidate fraud are growing in recruiting, and—in response—talent acquisition (TA) pros are learning new ways to suss out the fit of a candidate, and that assessment now must include, “Are you real?”

“Fraud hiring isn’t new…it’s really just evolved,” according to Julia Frament, Head of Global HR at IRONSCALES, a cybersecurity company specializing in email.

The toolbox for candidate fraud is expansive. ChatGPT can write up a perfect résumé and cover letter to match an opening; generative AI tools can create realistic images and content like responses to interview questions; it’s also relatively easy to design a “real” LinkedIn page for a fake professional.

In fact, up to one-fourth of all job applications could be deepfakes or fraudulent by 2028, according to an April report from Gartner.

Click here to keep reading HR Brew’s story on candidate fraud.AD

Together With Zuora

MARKET FORCES

market forces chart

Francis Scialabba

Today’s top finance reads.

Stat: $162 billion. That’s the worldwide cost of natural disasters in the first half of 2025, not including the Texas floods in July. (Barron’s)

Quote: “Those impacted by disasters are already overcome with stress, anxiety, and emotion over their losses—they should not have the added worry of deadlines and penalties from the federal government on top of their other challenges. These poll results clearly show that Americans are in need of additional and more immediate relief from the federal government during these challenging times.”—Melanie Lauridsen, AICPA VP of Tax Policy & Advocacy, about a survey showing that people affected by a natural disaster should get an IRS extension (Journal of Accountancy)

Read: How does Burning Man, an event that deeply prioritizes decommodification, get itself out of a financial hole? (Bloomberg)

Sales tax man cometh: Before getting stuck in a complicated web of international sales tax compliance crackdowns, get Anrok’s 2025 mid-year report. It can help teams navigate the increasingly complex global tax environment. Download it here.*

*A message from our sponsor.

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