I asked Gemini to record 4 journal entries. Accountants should use AI!

Join 10,000+ professionals who enrolled in the Controller Academy 🚀
[coupon 30OFFCOURSE for 30% discount]

I challenged Google Gemini to record the journal entries to 4 business transactions.

-----------------------------------

Hang Out with me on social media:

DISCLAIMER: Links included in this description might be affiliate links. If you happen to purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting my channel so I can continue to provide you with free content each week!
All views expressed on my channel are mine alone. Not intended as financial or professional advice

[RareAccountant]

I don't know in practice, but when asking for explanations on accounting rules, Gemini and GPT are re tar dead. They contradict themselves and give vague or open ended answers

[Naveed_Ali_Apollo]

I scored 97 in the ACCA financial accounting exam, and I got all 4 of these wrong😐, I'm so screwed man. AI is definitely going to take my job 🤦‍♂

[scotolivera]

thanks, will be maybe beneficial to start doing some video on the accounting standards or ifrs with practical example

[john.]

Thanks for the video, its very informational as a first year businness student

[Legacy-Talks]

Hey, I don't know if you'll see this in time but I have a life changing interview next week for a manager of financial reporting. I have a general ledger accounting background and I want to familiarize myself with a day in the life of a financial reporting accountant. Do you have any videos that discuss this career path or know of any good ones I can seek out? I will be helping to finalize the financial statements and dealing with external auditors is all I could gather from the job description.

[MohammedAlshaer]

Thanks for the video, its very helpful. but I have questions

Regarding Transaction No. 3
How we will make the expense over the life of the contract and we already booked from beginning as a cost. you mentioned it will be done through amortization or depreciation method but how will be?

Regarding Transaction No. 4
Can you please write what will be the correct journal entry for this case

[jpmarchena]

When's the next tax video with Jeff? 😄

[maryogie]

For Transaction #1, I'm curious how this is done in the real world. The filing of the Bankruptcy petition doesn't necessarily mean the creditor isn't going to get anything from the Bankruptcy estate. Being an unsecured creditor they are lower on the priority list. Is the account still written off even if it the bankruptcy process isn't complete and the debt hasn't been discharged?

[toyintolase]

Thanks for the video. Please can you do a video on amortization? I get that cash would be credited in the last transaction, I just don't understand the subsequent entry. How do you capitalize and amortize over the number of years given.

[meleiag]

i am new to your page, if you haven't already can you please talk about personal property taxes/statement requirements and process?

[bledtares]

Hi Bill,
Do you have any tips/made a video on a framework/guideline on what information should be included in journal entry header to make it detailed and consistent?

[adhamm]

Great video! Can you try other AIs like chatgpt?

[abdirahmanceenaanshe]

Please share us consolidated balance sheet outside ownership

[rashid]

Hi, can u explain the cheque discounting with journal entries, eg 100k cheque dated 01/12/24 we discounting today with 20% margin what is the journal to pass as we received after 20% margin how we reconcile the bank today and actual maturity date

[taku]

I want to change myself because I have only done physical jobs, so I have been studying bookkeeping independently. But if AI can solve so much, I feel like what I'm doing is pointless.

[karan__Singh_pnp]

Great and thanks..Needed video on US GAAP

[lucasthiele]

Hi Bill! I’m a newly promoted Big 4 Senior. I’m planning to stay at big 4 until at least manager (3 more years).

If I want to climb as high as possible in industry, is controller the top position? When should I leave PA to get there? And what type of role should I look for in an exit? (GL, consolidations, sec reporting, etc).

Thanks!

[febriansyahnicho]

For the case number 2. If buyers Journals on February 28
(D) inventory
(K) acrued liabilitas

My question is. What is the Journal for the Sellers on February 28...?
Thank you, need your help..

[ZiadAhmed-vg]

Great video but I was wondering what the last journal entry should be?