White Paper "Leitfaden Prompt-Engineering für Controller"

Um Ihren Arbeitsalltag effizient zu gestalten, sollten sich Controller zunehmend mit Large Language Models (LLMs) wie ChatGPT, Gemini, Mistral, etc. auseinandersetzen. In diesem Kontext spielt das Prompt Engineering eine große Rolle, da nur durch gute Prompts auch eine gute Output-Qualität erreicht werden kann. Dieses White Paper gibt einen Überblick über die wichtigsten Aspekte des Prompt Engineerings und liefert praxisnahe Beispiele für Controller.

Outsmarting Artificial Intelligence in the Classroom—Incorporating Large Language Model-Based Chatbots into Teaching

Issues in Accounting Education

Since the release of ChatGPT in November 2022, large language model-based chatbots have attracted much attention. Although businesses value their potential for efficiency gains, academics are concerned about their effects on learning and assessments. This Case enables instructors to integrate large language model-based chatbots into the curriculum. Students assume the role of a professional accountant who retrieves an artificial intelligence-written text that has to be evaluated and improved before presenting it to a client. The analysis and writing activity help students gain domain-specific accounting knowledge and improve their writing skills. Students also improve their computer literacy as they learn to engage with artificial intelligence effectively, assess generated output, and evaluate output quality. These learnings enable students to judge in which business scenarios chatbots are beneficial and when original human contributions will likely remain superior. Finally, this activity expands other cognitive skills, such as critical thinking and judgment.

Automatisierung für alle? Wie Change Management bei der Skalierung von Automatisierungstechnologien im Finanzbereich helfen kann

REthinking: Finance

Viele Unternehmen arbeiten an der Automatisierung ihrer Finanzprozesse, um diese effizienter und fehlerfreier zu gestalten. Oft scheitert eine großflächige Automatisierung jedoch daran, grundsätzlich geeignete Prozesse zu identifizieren und diese schnell und effektiv zu automatisieren. In diesem Beitrag wird die Eignung des ADKAR-Change-Management-Modells für die Skalierung von Automatisierungstechnologien im Finanzbereich überprüft. Dafür werden Erkenntnisse von Unternehmen, die sich durch erfolgreiche unternehmensweite Automatisierung auszeichnen, in den Kontext des ADKAR-Modells eingebettet. Aus ihren Erfahrungen lässt sich ein Best-Practice-Leitfaden für Führungskräfte ableiten.

How to Unlock the Value of Your Data: Six Design Guidelines for Implementing Data Strategies

Technologies for Digital Transformation: Moving towards the Future of Organisations

Companies struggle to exploit the value of their data. Data strategies define the scope and provide a roadmap for a company’s data management. However, most companies remain behind the curve. Based on structured expert interviews, we provide six design guidelines for implementing data strategies. They are applicable across industries and at all levels of a company’s data management: (1) Define effectiveness as the overarching project goal. In doing so, focus on better insights by leveraging advanced analytics for big data. (2) Implement data strategies across the company, ideally with a board member’s commitment. (3) Create diverse project teams. IT should not be the sole project leader. (4) Follow a top-down project approach, supplemented by quick wins covering a company’s current pain points. (5) Ensure data quality, integrate your data then, and assign roles and responsibilities. (6) There is no one size fits all. Accordingly, consider digital technologies and align them with your information system backbone.

Transformation – Managing Change from the Perspective of Next-Generation CFOs

REthinking: Finance

This article provides learnings of next-generation CFOs in the current COVID-19 pandemic. They believe business models and (working) life should change as follows: (1) running sustainable business models and (2) driving more flexibility in (working) life. These two findings were mostly in line with the perspective of a current CFO. However, while digitalization as a facilitator may come more naturally to a next generation of CFOs, forward-looking current CFOs will also successfully handle this challenge. Both generations of leaders will play their part.

Die vier Pfeiler effizienter Controlling-Prozesse

Controlling & Management Review

Wachsende Datenmengen mit hohem Strukturierungs- und Analysebedarf eröffnen Controllern neue Steuerungsmöglichkeiten, aber auch zusätzliche Aufgaben. Um diese mit den existierenden Ressourcen bewältigen zu können, ist es unabdingbar, bestehende Prozesse effizienter und automatisierungsfreundlicher zu gestalten.

The SEC's Revolving Door: Insights from Boards of Directors

Accounting and the Public Interest

This study aims to shed light on the determinants and consequences of the revolving door at the Securities and Exchange Commission (SEC). While revolvers may be good monitors due to their SEC experience and, thus, continuously create benefits for the economy (“schooling”), it is possible that they exploit their insights into the enforcement process and private connections to undermine enforcement (“regulatory capture”).

Using a newly created dataset of revolvers who moved from the SEC to company boards, this study shows that not all revolvers are appointed for the same reasons and create the same benefits for their new employers. I demonstrate that those revolvers most closely involved in the enforcement process are associated with fewer future enforcement actions, while accounting quality does not improve. Contrarily, external revolvers seem to use their monitoring and advising duties to improve accounting quality.