Auditor Confirmation Letters Generator
Python-based Confirmation Letter Generator streamlines audits by automatically reading detailed listings of Trade receivables and payables from Excel, applying user-predetermined haphazard and target test sampling, and generating confirmation letters in a Word file.
Prophet Revenue Forecaster
This Python tool leverages Prophet to generate a revenue forecast from a simple Excel file, validating data, and providing visual and Excel outputs, while cautioning users about limitations related to model assumptions and data quality.
Automated AP Invoices Scanner
This blog post introduces the Automated AP Invoices Scanner which is a Python-based tool that extracts key invoice details—such as supplier, amounts, and dates—from a range of file types (images, PDFs, Word, Excel) using OCR and a natural-language model. Simply place invoices in the “Inputs” folder, provide your OpenAI API key, and the tool compiles an Excel report with invoice details and highlighted blanks, and a “Warnings & Info” tab for ambiguities.
Maximizing Efficiency: Drafting Notes to Financial Statements using LLMs
This blog post explores how Large Language Models (LLMs) can significantly speed up the drafting of notes to financial statements, allowing accountants to focus on critical review and judgment areas, and provides a structured approach to achieving high-quality, efficient drafts.
IAS 23 Borrowing Costs – Capitalisation, Part 2
This blog post explores practical issues and solutions related to IAS 23, focusing on the capitalization of borrowing costs, including the treatment of equity costs, provisions, investment income, hedging, and foreign exchange differences. It provides detailed guidance on handling specific borrowing scenarios and calculating capitalized borrowing costs under IAS 23.
IAS 23 Borrowing Costs – Capitalisation, Part 1
This blog post explains the core principles of IAS 23 Borrowing Costs, detailing how to capitalize borrowing costs for qualifying assets, with an illustrative example of calculating and capitalizing interest expenses during the construction of office buildings.
IFRS 16 Lease Contract Reader
The blog post introduces a Python-based tool called "IFRS 16 Lease Contract Reader" that uses OpenAI's ChatGPT to automate the extraction of essential lease data from contracts, streamlining the IFRS 16 calculation process by generating a structured dataset and summary in Excel.
IFRS 16 Lease Liability and RoU Asset Schedules
This blog post introduces a Python-based tool that helps accountants quickly generate IFRS 16 lease liability and Right of Use (RoU) asset schedules by inputting key lease details, producing detailed amortization tables in Excel for straightforward lease scenarios.
Accounting for Assets Held for Sale
This blog post explains the framework of IFRS 5 for accounting for non-current assets held for sale, providing a practical example of how to classify, impair, and dispose of these assets, including handling disposal groups and reclassifications if sale plans change.
Journal Entry Pattern Detector
This blog post introduces a beta tool for detecting anomalies in journal entries using an Isolation Forest algorithm, which analyzes general ledger data to identify and flag unusual transactions based on patterns in dates, accounts, amounts, and descriptions.