Get a large enough org and watch your accounting grow an error margin.
Get a large enough org and watch your accounting grow an error margin.
Now I have a product failure at a major customer that I may have to send free replacements for. Should I recognise that cost now, or not? The accounting standards say if I know about it, and I can measure it and there is a high degree of certainty then I should. But the method of choosing is up to me. £10m or 1m cost, and this year or next... and I get to decide.
We bought a £6m dollar machine to be depreciated over time, but how long. The machine lasts 10 years, but will we still be using it then? Do I capitalise the internal R&D work as well?
All of which is audited, but the auditor often only has the information I give them.
Accounting is not deterministic, within certain bounds it is very subjective.
You haven't met many accountants i see.
Regardless that's not what he is saying.
If there is an acceptable margin of error for humans, we should be able to measure it for AI, and once AI is within those margins then it should be feasible to replace the human.
This was my CPA wife’s response btw.
The entire field is based on balance sheets and context that informs compliance.
Let me put it this way: it’s such a bad idea that even Intuit doesn’t let their AI replace a human.