Share E-Book

ChatGPT and AI for Accountants A practitioners guide to harnessing the power of GenAI to revolutionize your accounting… (Scott Dell, Mfon Akpan)(Z-Library)

Author

,

Rating No ratings yet

Log in to rate

AI
Language English

No Description

Format PDF
Size 2.9 MB
4
Views
(First 20 pages)

Registered users can read the full content for free

Register as a Gaohf Library member to read the complete e-book online for free and enjoy a better reading experience.

Page 1
(This page has no text content)
Page 2
ChatGPT and AI for Accountants Copyright © 2024 Packt Publishing All rights reserved. No part of this book may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, without the prior written permission of the publisher, except in the case of brief quotations embedded in critical articles or reviews. Every effort has been made in the preparation of this book to ensure the accuracy of the information presented. However, the information contained in this book is sold without warranty, either express or implied. Neither the author(s), nor Packt Publishing or its dealers and distributors, will be held liable for any damages caused or alleged to have been caused directly or indirectly by this book. Packt Publishing has endeavored to provide trademark information about all of the companies and products mentioned in this book by the appropriate use of capitals. However, Packt Publishing cannot guarantee the accuracy of this information. Group Product Manager: Aaron Tanna
Page 3
Publishing Product Manager: Kushal Dave Book Project Manager: Deeksha Thakkar Senior Editors: Nisha Cleetus and Rounak Kulkarni Technical Editor: Rajdeep Chakraborty Copy Editor: Safis Editing Proofreader: Nisha Cleetus Indexer: Pratik Shirodkar Production Designer: Alishon Mendonca DevRel Marketing Coordinator: Deepak Kumar and Mayank Singh First published: June 2024 Production reference: 1190624 Published by Packt Publishing Ltd. Grosvenor House 11 St Paul’s Square Birmingham B3 1RB, UK ISBN: 978-1-83546-653-7 www.packtpub.com
Page 4
Contributors About the authors Dr. Scott Dell is a licensed CPA, insightful Wharton MBA, talented Big 4 and second-tier firm alumnus, award-winning full-time academic, successful entrepreneur, passionate career educator, proud Navy veteran, and well-respected authority and keynote speaker on GAI, including ChatGPT and ChatGPT 4o. Dr. Dell has also been a tech consultant and advocate for over 30 years. Please allow him to inspire you to apply and take advantage of the latest technologies. His knowledge and experience with ChatGPT will propel you to major success in applying and using this powerful technology. Dr. Mfon Akpan is Assistant Professor of Accounting at Methodist University, USA. He has a passion for emerging technologies and is an expert in virtual reality technology, researching new technologies and educational methods to offer students a current, effective, and relative teaching experience.
Page 5
Acknowledgements
Page 6
We appreciate the supreme support of our families in giving us the opportunity to dedicate the time and resources to the development of this book. We wish to acknowledge the inspiration and encouragement received from our academic and other professional colleagues in the pursuit of making a difference in the lives of others. We also want to thank our students, who through their desire to grow while pursuing knowledge and experience, have inspired us to want to provide tools and resources that can assist them in maximizing their success.
Page 7
– Dr. Scott Dell and Dr. Mfon Akpan
Page 8
About the reviewer Ashish Verma is a seasoned professional with a formidable background in finance and technology across diverse emerging markets. Having served multiple organizations as CFO in the past, he is currently dedicated to pioneering innovative solutions to enhance access to capital for women- owned and women-led businesses. Holding a chartered accountant qualification, he has enhanced his expertise through executive education in FinTech, data science, and AI. Ashish has made significant contributions to several eminent publications, including scholarly papers on gender finance and the strategic integration of blockchain and AI in various enterprises. I would like to express my heartfelt gratitude to my family for their unwavering support throughout the journey of reviewing this book. Their encouragement and understanding have been a source of strength and motivation for me. In particular, I am deeply grateful to my wife for her exceptional support, especially during such a significant time in our lives as we awaited the arrival of our first child. I dedicate this accomplishment to them.
Page 9
Table of Contents Preface 1 Generative Artificial Intelligence (GAI) in Accounting Prerequisites AI innovations in accounting – automated calculations and predictive analysis Automating complex calculations Providing predictive analytics Case studies and real-world applications A small business application of AI in action – revolutionizing Brewed Awakenings’ finances with QuickBooks Online
Page 10
A small business application – AI’s impact on Cityscape Consulting A large corporation application – AI at GlobalTech Enterprises Preparing for an AI-driven future in accounting The necessary skills and training Implementing AI in accounting departments Summary Further reading Q&A 2 Enhancing Practice Management Using This Technology Technical requirements Setting the stage for AI integration
Page 11
Reimagining scheduling in the age of AI The evolution of financial forecasting – AI at the helm Revolutionizing client relationships with AI Crafting tailored client encounters with AI Crafting tailored client experiences with AI Prompt responses with AI-enabled support Efficiency unleashed – AI’s role in data interpretation Decoding vast data reservoirs with AI Real-time analytics – the AI advantage Summary Q&A Further reading
Page 12
3 Applying AI in the Tax Realm Technical requirements Data management and security AI innovations in tax compliance and reporting automated tax calculations Real-time compliance monitoring Enhanced reporting capabilities AI in tax planning and strategy Predictive analysis for tax planning Scenario analysis and risk assessment Optimization of tax benefits Case studies and real-world applications Case study – Bean There, Done That – a local coffee shop
Page 13
Scenario analysis and risk assessment A large corporation’s international tax strategy Ethical and regulatory considerations Data privacy in tax AI applications Navigating regulatory changes Preparing for an AI-driven future in taxation Implementing AI in tax departments Future outlook Predictions and trends Potential developments and innovations Summary Further reading Recommended books Online resources
Page 14
Q&A 4 Enhancing Audits with AI The AI audit landscape Current challenges in auditing How AI is transforming audits AI tools in auditing Benefits of AI in auditing Diving deeper into AI audit tools Overview of AI audit tools Selecting the right AI audit tool Best practices for implementing AI audit tools Ethical considerations in AI auditing Understanding bias in AI
Page 15
Ensuring data privacy and security Ethical guidelines for AI in auditing The future of AI in auditing The evolving audit landscape The role of AI in future auditing Preparing for the future – skills and competencies Summary Closing thoughts Further reading Q&A 5 Integrating AI with Fraud Examination and Forensic Accounting The significance of AI in fraud examination and forensic accounting
Page 16
The evolving role of AI in detecting and preventing financial fraud The landscape of fraud and forensic accounting Traditional practices in fraud examination and forensic accounting Common challenges and limitations in conventional methods The emergence of AI in fraud detection A historical perspective on the introduction of AI in fraud detection Key milestones and technological advancements AI technologies in fraud examination Case studies demonstrating the application of AI in real-world scenarios Case study 1 – banking fraud detection in a major bank
Page 17
Case study 2 – insurance fraud prevention in an insurance company Case study 3 – corporate financial fraud identification in a multinational corporation Case study 4 – tackling public sector corruption with AI-driven anomaly detection Integrating AI into fraud examination workflows Strategies for implementing AI in existing fraud examination processes Training and skill development for forensic accountants in AI applications AI-powered forensic analysis Ethical and legal considerations Challenges and limitations of AI in fraud detection Case studies – success stories and lessons learned
Page 18
Case study 1: AI-driven credit card fraud detection in a major bank Case study 2: AI in detecting payroll fraud in a multinational corporation Case study 3: AI-enhanced investigation of insurance claims. Future trends and developments Preparing for an AI-driven future in fraud examination Summary Reflecting on the transformative impact of AI Further reading and resources Q&A 6 Turbocharging Financial Analysis and Projection
Page 19
The conventional landscape of financial analysis and projection Challenges and limitations The advent of AI in financial analysis and projection Areas revolutionized by AI A deep dive into AI-driven financial analysis Predictive analytics and forecasting Case studies and examples Real-time analysis and reporting Enhancing financial projections with AI Automating projection processes Increasing accuracy and reliability Practical implications and applications Best practices and strategies
Page 20
Ethical and regulatory considerations Preparing for an AI-driven future in financial analysis Strategies for successful implementation Future outlook Potential developments and innovations Summary Further reading Books: Academic articles: Online platforms: Q&A 7 Advancing Managerial Accounting with AI
The above is a preview of the first 20 pages. Register to read the complete e-book.

Recommended for You

Loading recommended books...
Failed to load, please try again later

Tip the Site

Scan the WeChat Pay or Alipay code to tip. No login required.

WeChat Pay
Alipay
← Back to List