Overview

It’s been reported that AI could replace up to 300 million jobs and accountants and bookkeepers are near the top of the list!

When ChatGPT 3.5 was released to the public in November 2022 it created a huge surge in the development of AI and Large Language Models. The capabilities are extraordinary and the impact on our accounting profession is going to be profound.

Don’t get left behind. This webinar – for the owners of accounting and bookkeeping firms - will show you how to harness ChatGPT and use it to save you hours of time, create efficiencies in your firm and get better results.

Brought to you by Mark Wickersham FCA, Amazon best-selling author of, “Effective Pricing for Accountants” you will discover : 

• The 3 things you must use ChatGPT for Power of AI this will save you precious hours of time every week.
• The 5 pitfalls you must be aware of Power of AI and how to avoid the embarrassing story of a professional service firm that may get sued for negligence from an overreliance on ChatGPT.
• Why prompt engineering is the new skill you need to master.
• How to use ChatGPT to grow your accounting firm.
• If you own an accounting firm (whether you’re a CPA, Enrolled Agent or bookkeeper) don't miss out on discovering how to be at the forefront of the biggest shake up we are going to see in our profession.

Learning Objectives :

• Understand the specific areas where ChatGPT can be effectively utilized to save significant time for the owners of accounting and bookkeeping firms.
• Identify the potential pitfalls associated with relying on ChatGPT and learn strategies to mitigate risks. 
• Recognize the importance of prompt engineering as a new skill required to optimize the usage of ChatGPT in accounting firms.
• Explore how to leverage ChatGPT to create efficiencies within your accounting firm and achieve better results. 
• Gain insights into using ChatGPT as a tool for growing your accounting business and staying ahead in the face of the transformative changes brought about by AI.

Table of Contents

1. Introduction
2. What You Will Learn
3. Benefits of ChatGPT
4. 5 Ways To Save Hours Of Time
5. Weaknesses of ChatGPT
6. 5 Pitfalls You Must Avoid
7. News Article
8. 5 Pitfalls You Must Avoid
9. Prompt Engineering
10. Core Components of an Effective Prompt
11. ChatGPT for Accountants And Bookkeeper e-Book
12. Practical Use Cases
13. Getting Started
14. Prompt Example
15. How To Analyze Financial Data
16. Prompt To Share Ideas With Client
17. Different Data Tabs - Excel
18. Value-Based Pricing - Communicating The Value
19. Attendee Question
20. Presentation Closing

Index

• .CSV
• .XLS
• Artificial Intelligence (AI)
• Balance Sheet (BS)
• Cash Flow (CF)
• ChatGPT
• Large Language Model (LLM)
• Prompt Engineering
• Value-Based Pricing

Key Terms

.CSV: Comma-Separated Value files are text files where each field of data is separated by a comma. This is an effective means to export data from QuickBooks that you, in turn, wish to analyze in Excel.

.XLS: Spreadsheets compatible with Excel 2003 and earlier have a .XLS extension. Such spreadsheets can be used in Excel 2007 and later, but certain features will be disabled unless you convert the document to a newer format, such as .XLSX, .XLSM, or .XLSB.

Accounting (ACCG): A systematic way of recording and reporting financial transactions for a business or organization.

Artificial Intelligence (AI): Artificial intelligence is intelligence demonstrated by machines, as opposed to the natural intelligence displayed by humans or animals.

Balance Sheet (BS): A financial report that summarizes a company's assets (what it owns), liabilities (what it owes) and owner or shareholder equity at a given time.

Cash Flow (CF): The revenue or expense expected to be generated through business activities (sales, manufacturing, etc.) over a period of time.

ChatGPT: ChatGPT, which stands for Chat Generative Pre-trained Transformer, is a large language model-based chatbot developed by OpenAI and launched on November 30, 2022, notable for enabling users to refine and steer a conversation towards a desired length, format, style, level of detail, and language used.

Large Language Model (LLM): A large language model (LLM) is a deep learning algorithm that can perform a variety of natural language processing (NLP) tasks. Large language models use transformer models and are trained using massive datasets — hence, large. This enables them to recognize, translate, predict, or generate text or other content.

Prompt Engineering: Prompt engineering, primarily used in communication with a text-to-text model, is the process of structuring text that can be interpreted and understood by a generative AI model. Prompt engineering is enabled by in-context learning, defined as a model's ability to temporarily learn from prompts

Value-Based Pricing: Value-based price is a pricing strategy which sets prices primarily, but not exclusively, according to the perceived or estimated value of a product or service to the customer rather than according to the cost of the product or historical prices.