Preparing financial statements
Accountant · Bookkeeper
“Preparing financial statements” (Accountant) is being replaced by AI: it entered in 2020 and is projected to be largely replaced by 2027.
What this task is
After the period-end close, pulling account balances together to prepare the balance sheet, income statement and cash flow statement, along with the explanatory notes that accompany them.
How AI replaces it
Since 2020, finance bots automate closing, consolidation eliminations and statement generation, and language models can draft notes and commentary. Routine statement preparation should be largely automated by around 2027.
What stays human
Accountants review statements for accuracy, make judgment calls on unusual accounting treatments that standard rules don't cover cleanly, and explain the financial results and their drivers to management.