Here are 40 ChatGPT or any AI Chatbot prompts for professional accountants, designed to elicit deeper insights, actionable strategies, and compliance-focused outputs:
1. Financial Statement Analysis
Prompt:
"Perform a granular analysis of the financial statements (balance sheet, income statement, cash flow statement) for a mid-sized retail company operating in [industry/region]. Calculate and interpret liquidity (current ratio, quick ratio), solvency (debt-to-equity, interest coverage), and profitability ratios (gross margin, ROA). Compare results to industry benchmarks, identify trends over the past three years, flag irregularities (e.g., inventory turnover discrepancies), and recommend actionable strategies for optimizing working capital and reducing operational inefficiencies. Include visualizations (charts/graphs) to support findings."
2. Audit Report Drafting
Prompt:
"Draft an audit report for a manufacturing firm with $50M+ revenue, adhering to ISA 570 (Going Concern) and PCAOB standards. Structure the report with:
-
Executive summary of audit scope and methodology
-
Risk assessment (fraud risks, inventory valuation, revenue recognition)
-
Key findings (material weaknesses, non-compliance with IFRS 15)
-
Action plan for internal control improvements (e.g., segregation of duties in AP/AR).
Conclude with a management letter outlining post-audit corrective measures."
3. Cash Flow Forecasting
Prompt:
"Develop a 12-month rolling cash flow forecast model for a seasonal e-commerce business. Incorporate variables:
-
Historical sales patterns (holiday spikes)
-
Supplier payment terms (net-30 vs. net-60)
-
Anticipated market shifts (e.g., supply chain delays, inflation rates).
Include sensitivity analysis for best/worst-case scenarios and recommend liquidity buffers. Provide Excel/Google Sheets formulas for automated updates.4. Tax Legislation Impact"Analyze the 2023 TCJA amendments (e.g., R&D capitalization rules, corporate AMT changes) and their impact on tax planning for a multinational tech firm. Draft a memo outlining:
-
Short-term cash flow implications
-
Long-term strategic adjustments (e.g., R&D location strategy)
-
Compliance steps for IRS Form 8975 (country-by-country reporting).
Include a comparison of effective tax rates under old vs. new rules."
-
4. Tax Legislation Impact
Prompt
"Analyze the 2023 TCJA amendments (e.g., R&D capitalization rules, corporate AMT changes) and their impact on tax planning for a multinational tech firm. Draft a memo outlining:
-
Short-term cash flow implications
-
Long-term strategic adjustments (e.g., R&D location strategy)
-
Compliance steps for IRS Form 8975 (country-by-country reporting).
Include a comparison of effective tax rates under old vs. new rules."
5. Custom Spreadsheet Template
Prompt:
"Design an Excel template for a small business to track monthly P&L, balance sheet, and KPIs (e.g., EBITDA margin, DSO). Include:
-
Automated ratio calculations with conditional formatting for outliers
-
Data validation rules to prevent entry errors
-
Integration instructions for QuickBooks/Xero exports.
Add a dashboard tab visualizing YTD performance vs. budget."
6. Bank Reconciliation Process
Prompt:
"Outline a bank reconciliation SOP for a mid-sized enterprise with multiple accounts across currencies. Detail steps to:
-
Match GL entries to bank statements using software (e.g., BlackLine)
-
Identify and resolve discrepancies (timing differences, bank errors)
-
Document reconciling items for audit trails.
Include a checklist for month-end sign-offs by the CFO."
7. IFRS vs. GAAP Comparison
Prompt:
"Create a whitepaper comparing IFRS 16 (Leases) and ASC 842 (GAAP), focusing on:
-
Lessee accounting treatment (balance sheet impact)
-
Disclosure requirements
-
Transition challenges for multinationals.
Provide examples of lease amortization schedules under both standards and recommend reconciliation practices for dual reporting."
8. Internal Control Best Practices
Prompt:
"Draft an internal control framework for a SaaS company aligned with COSO principles. Cover:
-
Risk assessment matrix (fraud, cybersecurity)
-
Approval workflows for expenditures >$10k
-
Monthly review protocols for journal entries.
Include a template for control self-assessments and remediation tracking."
9. Audit Preparation Checklist
Prompt:
"Develop a 90-day audit readiness checklist for a public company, including:
-
Pre-audit tasks (trial balance review, sample selection)
-
Documentation requirements (contracts, board minutes)
-
Team roles (CFO, internal audit, external auditors).
Align with PCAOB AS 3101 and specify deadlines for each milestone."
10. Key Performance Indicators (KPIs)
Prompt:
"Generate a KPI dashboard for a law firm, categorizing metrics into:
-
Financial (realization rate, profit per partner)
-
Operational (billed hours vs. budget)
-
Client (retention rate, matter profitability).
Provide formulas, data sources, and visualization tips (e.g., Power BI)."
11. Cost Accounting Methods
Prompt:
"Design a guide for implementing activity-based costing (ABC) in a automotive parts manufacturer. Include:
-
Cost driver identification (machine hours, setups)
-
Variance analysis for direct materials/labor
-
Integration with ERP systems (e.g., SAP).
Contrast ABC results with traditional costing in a case study."
12. Impact of Automation
Prompt:
"Write a strategy paper on adopting RPA (Robotic Process Automation) in accounts payable. Cover:
-
Tool selection criteria (UiPath vs. Blue Prism)
-
Process mapping for invoice processing
-
Change management steps to upskill staff.
Quantify ROI using reduced FTE hours and error rates."
13. Training Session Outline
Prompt:
"Develop a 4-hour training curriculum for migrating to QuickBooks Online. Structure modules:
-
Chart of accounts customization
-
Bank feed reconciliation
-
Reporting (aged receivables, cash flow projections).
Include pre/post-training quizzes and a troubleshooting FAQ."
14. Financial Consolidation Process
Prompt:
"Detail the consolidation process for a parent company with 5 global subsidiaries. Explain:
-
Currency translation adjustments (FASB 52)
-
Intercompany elimination entries (sales, loans)
-
Minority interest calculations.
Provide a sample consolidation worksheet with journal entries."
15. Year-End Closing Procedures
Prompt:
"Create a 30-day year-end closing checklist for a manufacturing firm, covering:
-
Physical inventory count procedures
-
Depreciation schedules for fixed assets
-
Accruals for bonuses/warranties.
Include a timeline with task owners (accounting, HR, operations)."
16. Ratio Analysis Guide
Prompt:
"Prepare a training manual on ratio analysis for credit analysts. Use a sample dataset (attached) to demonstrate:
-
Trend analysis (3-year horizontal comparison)
-
Peer benchmarking (SIC code 2834)
-
Red flags (e.g., declining receivables turnover).
Add Excel exercises for calculating Z-score models."
17. Nonprofit Financial Reporting
Prompt:
"Design a nonprofit financial report template compliant with FASB 117. Include:
-
Statement of functional expenses (programs, admin, fundraising)
-
Grant restrictions tracking
-
Donor dashboard (pledges vs. cash received).
Provide narrative examples explaining variances to the board."
18. Revenue Recognition Policy
Prompt:
"Draft a revenue recognition policy for a software company adhering to ASC 606. Clarify:
-
Performance obligations (licenses, support)
-
Variable consideration (discounts, rebates)
-
Contract modification protocols.
Include a decision tree for recognizing SaaS subscription revenue."
19. Budgeting Techniques for Startups
Prompt:
"Outline a zero-based budgeting process for a Series A tech startup. Address:
-
Departmental budget proposals (engineering, marketing)
-
Scenario planning (20% higher CAC, 30% lower conversion)
-
Burn rate monitoring.
Include a template with monthly cash runway projections."
20. Variance Analysis Process
Prompt:
"Develop a variance analysis framework for a retail chain comparing actual vs. budgeted sales. Include:
-
Root cause analysis (price vs. volume variance)
-
Corrective actions (marketing spend reallocation)
-
Stakeholder communication templates.
Use a case study with a $500k unfavorable variance."
21. Segregation of Duties Memo
Prompt:
"Write a policy memo enforcing segregation of duties for a mid-sized bank. Define incompatible roles (e.g., check preparer vs. approver) and propose a RACI matrix for payment processing. Include a risk assessment for non-compliance and audit trail examples."
22. Accrual vs. Cash Accounting
Prompt:
"Compare accrual and cash accounting for a $2M revenue consulting firm. Use scenarios:
-
Multi-year contracts with milestone payments
-
Prepaid expenses vs. deferred revenue.
Recommend the optimal method for securing bank financing and include a conversion plan."
23. Financial Statement Preparation
Prompt:
"Create a step-by-step guide for preparing GAAP-compliant financials from a trial balance. Cover:
-
Adjusting entries (accruals, deferrals)
-
Closing temporary accounts
-
Drafting notes (contingent liabilities, related parties).
Include a checklist for common errors (e.g., misclassifications)."
24. Common Accounting Errors
Prompt:
"Produce a report on top 10 month-end close errors (e.g., duplicate entries, cut-off mistakes). For each error, provide:
-
Detection techniques (vlookup, pivot tables)
-
Prevention workflows (automated reconciliation tools)
-
Training recommendations.
Include a quiz for staff to test their understanding."
25. ERP Implementation Plan
Prompt:
"Draft a 6-month ERP implementation roadmap for a manufacturing company migrating to NetSuite. Phases:
-
Requirements gathering (module selection)
-
Data migration (legacy system mapping)
-
UAT and go-live.
Include risk mitigation (data loss prevention) and post-launch KPI tracking."
26. Leasing vs. Buying Analysis
Prompt:
"Prepare a lease-vs-buy analysis for a logistics company considering a $2M equipment purchase. Model:
-
NPV comparison under ASC 842/IFRS 16
-
Tax implications (depreciation vs. lease payments)
-
Flexibility trade-offs.
Recommend the optimal choice based on a 10% cost of capital."
27. Cash Flow Management
Prompt:
"Design a cash flow optimization strategy for a construction firm with 60-day payment terms. Propose:
-
DSO reduction tactics (early payment discounts)
-
DPO extension strategies (supplier negotiations)
-
Liquidity buffer calculation (stress-test scenarios).
Include a cash conversion cycle dashboard.
28. Executive Financial Summary
Prompt:
"Prepare a one-page financial summary for a biotech startup seeking Series B funding. Highlight:
-
Burn rate and runway
-
Gross margin trends
-
R&D ROI projections.
Use visuals (sparklines, conditional formatting) and non-financial metrics (patent pipeline)."
29. Double-Entry Bookkeeping Training
Prompt:
"Create a 10-scenario workbook teaching double-entry principles. Examples:
-
Inventory purchase (debit inventory, credit AP)
-
Loan repayment (debit liability, credit cash).
Include error detection exercises and explanations."
30. Foreign Currency Transactions
Prompt:
"Advisory memo on IAS 21 compliance for a company with EUR/USD transactions. Cover:
-
Initial recognition (spot rate)
-
Reporting date revaluation
-
Hedging with forward contracts.
Include a sample journal entry for a $500k export sale."
31. Credit Risk Assessment
Prompt:
"Analyze credit risk for a wholesale distributor with 30% overdue receivables. Recommend:
-
Credit scoring model adjustments
-
Collateral requirements
-
Bad debt provisioning under CECL.
Include a customer risk tiering framework."
32. Internal Audit Process
Prompt:
"Develop an internal audit plan for a healthcare provider. Scope:
-
Billing compliance (HIPAA, Medicare)
-
Inventory shrinkage
-
IT controls (PHI data security).
Include a risk heatmap and sampling methodology."
33. Tax Audit Preparation Guide
Prompt:
"Create a tax audit defense guide for a small business. Detail:
-
Document retention (e.g., Form 1099s, expense receipts)
-
IDR response strategies
-
Penalty abatement negotiation tactics.
Include an audit timeline template."
34. Blockchain in Accounting
Prompt:
"White paper on blockchain for audit trails. Discuss:
-
Smart contracts for automatic reconciliation
-
Immutable transaction records
-
Case studies (Deloitte’s PermaRec).
Contrast with traditional ledger systems."
35. Cost Reduction Strategy
Prompt:
"Propose a 15% cost reduction plan for a restaurant chain. Target:
-
COGS (supplier renegotiation, waste tracking)
-
Labor (scheduling algorithms)
-
Overhead (energy-efficient equipment).
Include a savings tracker with accountability owners."
36. Interest Rate Impact Analysis
Prompt:
"Report on rising interest rates’ impact on a real estate firm with floating-rate debt. Model:
-
Interest expense projections (50bps increase)
-
Hedge strategies (interest rate swaps)
-
Debt covenant compliance risks.
Recommend refinancing options."
37. Financial Ratio Benchmarking
Prompt:
"Build an industry benchmarking tool for retail using S&P Capital IQ data. Compare:
-
Gross margin (industry: 35%, client: 28%)
-
Inventory turnover (industry: 6x, client: 4x).
Provide improvement targets and peer analysis."
38. Mergers & Acquisitions Accounting
Prompt:
"Guide to purchase price allocation for a $10M acquisition. Explain:
-
Fair value adjustments (PP&E, intangibles)
-
Goodwill calculation
-
Post-merger integration (chart of accounts harmonization).
Include a sample PPA worksheet."
39. Green Investment Tax Benefits
Prompt:
"Report on IRA tax credits for a solar panel installer. Detail:
-
Section 48C (advanced energy projects)
-
Bonus depreciation for green equipment
-
State-level incentives (NYSERDA).
Include a ROI timeline and compliance checklist."
40. Financial Turnaround Strategy
Prompt:
"Draft a 12-month turnaround plan for a distressed retailer. Components:
-
Liquidity injection (sale-leaseback of assets)
-
Cost rationalization (store closures)
-
Revenue diversification (e-commerce pivot).
Include a weekly cash flow monitoring dashboard."
