ChatGPT and You: A Practical Guide for Accountants - CPA Cheat Sheet for ChatGPT (Video) (Course Id 2249)

• Who is this course for?
  This course is designed for CPAs, accountants, and other professionals who need Continuing Professional Education (CPE) and want to integrate AI tools like ChatGPT into their daily work.

• What is this course about or what problem does this course solve?
  The course addresses the challenge of explaining complex financial concepts to clients and the time-consuming nature of financial research and documentation, offering AI-powered solutions for simplifying communication, improving efficiency, and enhancing written materials.

• How can the knowledge from this course be used?
  Learners can apply the knowledge to streamline research on financial regulations, enhance client communication through simplified and tailored messaging, and use AI for drafting and proofreading financial documents.

• Why is this course important to a CPA, Accountant, or IRS Enrolled Agent?
  It equips professionals with practical AI tools to improve efficiency, clarity, and accuracy in their work, allowing them to better serve clients and meet professional standards with less manual effort.

• When is this course relevant or timely?
  This course is especially timely now, given the increasing use of AI in accounting and the 2024 IRS regulation updates, which make AI tools like ChatGPT particularly valuable for current professional workflows.

• How is a course like this consumed or used?
  Delivered as a QAS self-study video course, it includes review and final exam questions, requires no prerequisites, and can be completed online at the learner’s own pace for 1.0 CPE credit.

• The Problem: Explaining complex financial concepts to clients can be challenging. Accountants need to translate jargon into easily understandable explanations.

• The Solution: Use AI language models to help! They can:

        o Generate simplified summaries of financial data.

        o Create different versions of reports tailored to clients with varying levels of financial understanding.

        o Draft email responses or even help create FAQs sections for your firm's website.

What we’ll cover…

1.      Efficient Research and Summary Generation:

• The Problem: Accountants spend a significant amount of time researching tax codes, regulations, and financial reporting standards. This can be incredibly time-consuming.
• The Solution: AI language models like ChatGPT and me can rapidly sift through vast amounts of information. Ask us to summarize regulations, clarify complex tax rules, or provide overviews of industry trends. This frees up time for the critical analysis and interpretation that machines can't replicate.

2.      Client Communication and Report Enhancement:

• The Problem: Explaining complex financial concepts to clients can be challenging. Accountants need to translate jargon into easily understandable explanations.
• The Solution: Use AI language models to help! They can:

§ Generate simplified summaries of financial data.

§ Create different versions of reports tailored to clients with varying levels of financial understanding.

§ Draft email responses or even help create FAQs sections for your firm's website.

3.      Drafting and Proofreading:

• The Problem: Accounting reports and communications require both precision and clarity. Typos and grammatical errors are unacceptable.
• The Solution: Language models excel at proofreading and can act as a meticulous second set of eyes. Additionally, they can help you:

§ Draft initial versions of emails, letters, and less-critical reports.

§ Suggest alternative phrasing or more creative word choices to improve your writing.

Video - NASBA QAS - NASBA Registry - 2249

Course Learning Objectives

Chapter 1 - ChatGPT and You: A Practical Guide for Accountants - CPA Cheat Sheet for ChatGPT

·         Introduction to AI in Accounting: Quick benefits overview.

·         Getting Started with ChatGPT:

o   Sign up for OpenAI and access ChatGPT.

o   Familiarize yourself with basic commands and prompts.

·         Efficient Research with ChatGPT:

o   Bookmark key financial regulation sources for ChatGPT inquiries.

o   Create a list of common research questions for quick access.

·         Client Communication Enhancements:

o   Draft template emails for common inquiries using ChatGPT.

o   Develop a FAQ section for your website with ChatGPT's help.

·         Drafting & Proofreading with AI:

o   Use ChatGPT for initial draft suggestions.

o   Implement ChatGPT proofreading for less critical communications.

·         Sample Prompt for Efficient Research:

o   "Summarize the key points of the latest IRS tax regulation changes for 2024."

·         Sample Prompt for Client Communication:

o   "Draft an email explaining the impact of new tax laws on small businesses in layman's terms."

·         Sample Prompt for Drafting and Proofreading:

o   "Generate a brief overview of common financial reporting standards for a client newsletter, and suggest a headline."

Chapter 1 Review Questions