Financial Accounting
General ledger, revenue recognition, consolidation, and core accounting standards.
59 prompts
Month-End Close Checklist Generator
Generates a comprehensive month-end close checklist tailored to your company type and size.
ASC 606 contract intake: performance obligations & allocation
Analyzes a customer contract under ASC 606/IFRS 15: identifies performance obligations, determines transaction price, and allocates consideration. Produces a concise memo and a revenue schedule outline.
IFRS 15 variable consideration constraint assessment
Evaluates variable consideration and the constraint, documenting probability-weighted outcomes and recognition impacts. Helps controllers defend judgments and build consistent templates across contracts.
ASC 606 disclosure checklist mapped to data sources
Generates an ASC 606/IFRS 15 disclosure checklist and maps each disclosure to internal data sources and owners. Ideal for SEC reporting teams and controllers improving disclosure readiness.
AR aging review and expected credit loss (ECL/CECL-lite)
Analyzes AR aging, flags collection risks, and proposes an allowance methodology and JE. Useful for controllers in smaller entities who need a practical, supportable approach.
AP three-way match exceptions and accrual recommendations
Finds exceptions between PO, receiving, and invoice data; recommends resolutions and accruals for goods received not invoiced. Helps AP teams and controllers reduce close surprises.
Vendor statement reconciliation and duplicate payment scan
Reconciles vendor statements to AP subledger and identifies duplicates/credits. Produces a clear recon with recovery actions for AP and treasury.
Depreciation schedule with partial-month convention
Builds a depreciation rollforward and monthly journal entry using your convention (half-month, actual days, etc.). Useful for close and for audit support.
Impairment indicator screen and impairment test outline
Screens for impairment indicators and outlines an impairment test approach with documentation steps. Useful for controllers and advisors supporting annual impairment reviews.
Lease vs service assessment with key term extraction
Extracts key contract terms and evaluates whether an arrangement contains a lease under ASC 842/IFRS 16. Produces a concise conclusion and data needed for accounting setup.
ASC 842 lease amortization schedule and monthly JE
Creates an ASC 842 amortization schedule (ROU asset and lease liability) and the monthly journal entry. Designed for controllers implementing lease accounting or validating system outputs.
IFRS 16 lease modification analysis and remeasurement
Evaluates lease modifications under IFRS 16 and computes remeasurement impacts, including updated discount rate logic. Helpful for complex real estate and equipment portfolios.
Intercompany reconciliation matrix and elimination entry pack
Builds an intercompany matrix across entities, identifies mismatches, and drafts eliminations for consolidation. Great for multi-entity groups and shared service centers.
Consolidation worksheet template (trial balance to consolidated FS)
Creates a consolidation worksheet structure including eliminations, reclasses, and mapping to FS lines. Useful for building a first-time consolidation model in Excel.
Noncontrolling interest (NCI) calculation and journal entries
Calculates NCI for partially owned subsidiaries and drafts the consolidation entries and disclosures. Useful for groups with minority interests and changing ownership percentages.
Upstream/downstream inventory profit elimination calculator
Computes unrealized profit in ending inventory from intercompany sales and drafts the elimination entries. Helps avoid overstatement of profit in consolidated financials.
Foreign subsidiary translation and CTA rollforward
Builds translation steps for a foreign subsidiary and a cumulative translation adjustment (CTA) rollforward. Helps consolidation teams document FX methodology and reconcile equity impacts.
FX exposure dashboard: open items by currency and maturity
Creates a simple FX exposure report for treasury/accounting, summarizing net positions by currency and maturity. Useful for hedging decisions and financial statement risk disclosure.
Monthly close checklist tailored to your process and systems
Creates a practical month-end close checklist with owners, dependencies, and suggested timelines. Ideal for controllers standardizing close and training new staff.
Substantive Analytical Procedures - Revenue
Develops an expectation for revenue based on non-financial data to test for overstatement.
Subsequent Events: Type I vs. Type II
Distinguishes between events that require adjustment and those that only require disclosure.
IFRS 9 Expected Credit Loss (ECL) Model
Explains the three-stage impairment model for financial instruments.
Construction POC (Percentage of Completion) Logic
Calculates revenue recognition for long-term construction projects using the cost-to-cost method. Designed for project accountants.
Lease Modification: ASC 842 Analysis
Determines if a lease change should be treated as a new lease or a remeasurement.
FBAR & Form 8938 Filing Requirement Logic
Checks if a taxpayer meets the thresholds for reporting foreign financial assets.
CAPEX Business Case & ROI Analysis
Evaluates the financial viability of a major capital investment (NPV, IRR, Payback).
ASC 842 vs. IFRS 16 Transition Comparison
Identifies key differences between US GAAP and IFRS lease standards for global reporting entities.
Variable Interest Entity (VIE) Assessment
Determines if a company must consolidate a legal entity under ASC 810.
Hedge Accounting Effectiveness Memo
Drafts the technical justification for designating a derivative as a hedge.
Goodwill Impairment Trigger Analysis
Evaluates qualitative factors (Step 0) to determine if a quantitative impairment test is needed.
Revenue Recognition: Principal vs. Agent
Analyzes control to determine if revenue should be recorded Gross or Net.
Technical Memo: Software Development Costs
Determines the 'Capitalization Start Date' for internal-use software.
Equity vs. Liability Classification (Warrants)
Analyzes complex financial instruments to ensure proper balance sheet classification.
Fair Value Hierarchy (Level 1, 2, 3) Mapping
Categorizes assets based on the observability of inputs per ASC 820.
Functional Currency Determination Memo
Uses ASC 830 indicators to determine the correct currency for financial reporting.
Accounting for Share-Based Compensation (Forfeitures)
Interprets the policy choice for accounting for forfeited stock options.
Discontinued Operations (ASC 205-20) Criteria
Assesses if a business divestiture meets the threshold for 'Discontinued Ops' reporting.
Asset Retirement Obligations (ARO) Initial Measurement
Calculates the present value of future decommissioning costs under ASC 410-20.
IFRS 15: 5-Step Model Deep Dive
A detailed walkthrough for recognizing revenue under international standards.
Accounting for Troubled Debt Restructuring (TDR)
Analyzes if a debt modification constitutes a TDR or a simple modification.
Construction: Job Costing & Over/Under Billings
Calculates the 'Costs in Excess of Billings' (Asset) or 'Billings in Excess of Costs' (Liability).
Pharma: R&D Milestone Payment Accounting
Determines when to recognize revenue or expense for drug development milestones.
Oil & Gas: Depletion (Units-of-Production)
Calculates the amortization of natural resources based on extraction volume.
Insurance: Premium Deficiency Reserve (PDR)
Assesses if future premiums are sufficient to cover expected claims and expenses.
LinkedIn Thought Leadership: Tax Update
Drafts an engaging social media post to position the firm as an industry expert.
CPE/Professional Development Planner
Helping staff map out their required credits while aligning with firm goals.
Month-end accrual JEs with support schedule
Creates month-end accrual journal entries (e.g., payroll, utilities, bonuses) and a clean support schedule for reviewer sign-off. Ideal for staff accountants running close and managers reviewing completeness and cut-off.
Bank-to-GL reconciliation with recon items log
Guides you through reconciling bank activity to the cash GL, identifying timing items and errors. Produces a recon summary and an issue log that can be rolled forward each month.
GL flux analysis with narratives and thresholds
Automates monthly flux analysis by flagging significant variances, explaining drivers, and drafting management-ready narratives. Useful for close meetings and reporting packages.
ASC 606 Five-Step Compliance Checker
Analyzes a described revenue arrangement against each of the 5 steps of ASC 606. Flags potential issues and recommends documentation.
Fixed asset capitalization analysis and coding guide
Helps decide whether expenditures should be capitalized or expensed, and maps them to fixed asset classes. Produces a coding guide and example entries for consistent treatment.
Lease disclosure note builder (ASC 842/IFRS 16)
Drafts a lease footnote outline and tables (maturity, weighted averages, expense) using your numbers. Useful for annual report preparation and audit coordination.
FX remeasurement: monetary items and gain/loss JE
Calculates FX remeasurement for monetary assets/liabilities and drafts the period-end journal entry and reconciliation. Useful for entities with foreign-currency AR/AP and cash balances.
Revenue cut-off test: shipped vs invoiced vs recognized
Builds a revenue cut-off reconciliation and exception list by comparing shipments, invoicing, and revenue recognition. Useful for month-end close and audit support.
ASC 606 Revenue Recognition Contract Analysis
Analyzes a specific client contract against the 5-step ASC 606 framework. Designed for revenue managers to ensure compliance during initial recognition.
Foreign Currency Translation Adjustment Guide
Provides step-by-step journal entries for translating foreign subsidiary financials. Ideal for consolidation accounting teams dealing with F/X volatility.
Lease Classification Tool (ASC 842)
Determines if a lease is Operating or Finance based on the five classification criteria. Essential for real estate and equipment accounting.
Tax Provision (ASC 740) Workbook Logic
Calculates the deferred tax assets/liabilities and the effective tax rate (ETR). Essential for corporate controllers.
Partnership Basis (Inside vs Outside) Reconciliation
Reconciles a partner's capital account and tax basis (704b vs Tax Basis).