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Showing posts from October, 2022

AI in Financial Reporting

It has been a while since I posted, but I have been getting a lot of questions lately from clients and from my accounting students about the same topic:  Where does AI actually belong in the financial reporting process?  Everyone wants to know if they should be using it, and the honest answer is that it depends a lot on which part of the process you are talking about. I have been working with several clients on this over the last few months, plus I have an upcoming speaking session on AI in reporting, so I thought I would put some of these thoughts together here. For each point, I am also going to push back on myself a little, because I think that is a more useful way to think through this than just picking a side. Where AI is actually helping right now The clearest win I have seen is variance analysis. AI tools are good at scanning through a large number of GL lines and flagging the ones that look different from what history would predict. Think of a vendor payment that...

Recap of Dynamics Communities Summit 2022

  It has been about a week and a half since I returned from Summit.   This was at least my tenth Summit.   At this point I have lost track, but I certainly remember when there were only a couple hundred people.   A lot has changed in the past couple years.   They are not back to where they were in 2019, but this was a huge improvement over last year in Houston.   With over 600 sessions, there was a lot of content to choose from for the attendees.   Of course, this is both good and bad because which sessions do you attend?   You can’t be everywhere.   Also, there were issues with the event app and seating in many of the rooms, but they tried to address these as the event went on and have promised to learn from their mistakes.   It is an new staff since their last large event, and everyone is still trying to remember how to put on large events like this.   My firm had several clients attend the event, and they were overall happy with ...