This case study, developed by the KPMG Master of Data and Analytics Program Team, has been designed to give instructors a meaningful way to introduce generative AI into their accounting classroom. As these tools continue to dominate the landscape, accounting students should be equipped with baseline knowledge and exposure to the technology. The purpose of this case study is to introduce faculty and students to the basic AI terminology and use cases available. The case begins with an introduction to large language models (LLMs) and prompt engineering, or put simply, crafting the most appropriate question to receive the desired result. The case then introduces a module on AI ethics, which is an increasingly relevant topic as these technologies gain traction across enterprises. From there, the case study walks through common use cases, including Microsoft Excel, financial statement analysis, and audit work.

This case study material is intended for use by undergraduate or graduate accounting or finance faculty who are looking to introduce the topic of generative AI in their classrooms. This case is designed for students who do not have any prior knowledge or experience using generative AI and various LLM technologies. Basic concepts needed to complete the case study will be included within the introductory training portion of the materials. 

The case study provides students with background on generative AI, as well as the various input files that will be used in the completion of the case study exercises. Further, the case study illustrates important AI ethical considerations that developers and users of these technologies must consider. 

Learning objectives

The learning objectives of this AI-related case study are as follows: 

1.                Explain the concepts surrounding generative AI and LLMs. 

2.                Describe the various LLM models available on the internet. 

3.                Understand generative AI prompt engineering and best practices. 

4.                Calculate loan amortization in Excel using AI instructions. 

5.                Identify Excel tasks where AI generation of instructions could be usefu. 

6.                Interpret MD&A from a 10-K with the use of AI. 

7.                Calculate key financial ratios using AI. 

8.                Describe how AI can be leveraged in the audit. 

9.                Perform a series of audit tasks using AI. 

10.             Introduce students to the basic considerations surrounding AI ethics.