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ChatGPT Isn’t Terminator for Accountants…Yet

Going Concern

If it can generate hundreds of thousands of protein sequences or map cancer progression, it can certainly summarize an FASB standard, assess a going concern risk, match documents, or determine the tax consequences for a partnership split. It confuses like terms, particularly technical accounting terms.

Account 115
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In Wake of Coronavirus, Takeovers (And Liabilities) Loom

PYMNTS

In accounting terms, that means eyeing possible write-downs of assets, and “write-ups” of liabilities. As reported by the site, having reviewed insurance documents, the organizer, GSMA, will “not be liable [to the sponsoring and attending companies] for any losses,” including those tied to communicable disease.