AI for Finance & Accounting
Module 3: Report Generation and Summaries
Module Overview
Finance professionals spend significant time creating reports, memos, and presentations. AI can dramatically accelerate this work while maintaining quality. In this module, you'll learn to leverage AI for efficient, high-quality document creation.
Learning Objectives:
By the end of this module, you will be able to:
- Draft management reports efficiently with AI assistance
- Create executive summaries that communicate effectively
- Prepare board presentations with AI support
- Write professional memos and analysis documents
- Review and refine AI-generated content
Estimated Time: 1.5-2 hours
3.1 Management Reporting with AI
The Report Writing Challenge
Finance professionals often struggle with:
- Turning numbers into narrative
- Explaining variances clearly
- Striking the right tone for different audiences
- Writing efficiently under time pressure
- Maintaining consistency across reports
AI addresses all of these challenges.
Template: Monthly Management Report
I need to draft a management report section for [Month/Quarter].
FINANCIAL RESULTS:
Revenue: $[X] (Budget: $[Y], Prior Year: $[Z])
Gross Profit: $[X] (Budget: $[Y], Prior Year: $[Z])
Operating Expenses: $[X] (Budget: $[Y], Prior Year: $[Z])
Net Income: $[X] (Budget: $[Y], Prior Year: $[Z])
KEY DRIVERS:
- [List 3-5 key factors affecting results]
CONTEXT:
- [Market conditions, one-time items, strategic initiatives]
Please draft:
1. Opening performance summary (2-3 sentences)
2. Revenue discussion (1 paragraph)
3. Profitability discussion (1 paragraph)
4. Key takeaways (3-4 bullets)
5. Outlook statement (2-3 sentences)
Tone: [Professional/Executive/Board-level]
Audience: [Senior management/Board/Department heads]
Example in Practice
Your Input:
Draft a management report section for Q3 2024.
Revenue: $12.5M (Budget: $13.0M, Prior Year: $11.8M)
Gross Profit: $4.1M (Budget: $4.5M, Prior Year: $4.2M)
Operating Expenses: $3.2M (Budget: $3.0M, Prior Year: $2.9M)
Net Income: $0.6M (Budget: $1.1M, Prior Year: $0.9M)
Key drivers:
- Delayed product launch shifted $800K revenue to Q4
- Raw material costs up 8% due to supply chain issues
- Added two sales FTEs ahead of holiday season
Audience: Senior management team
Tone: Direct and action-oriented
AI Output (Example):
Q3 2024 Financial Performance Summary
Third quarter results fell below plan, primarily due to the delayed Alpha product launch which shifted approximately $800K of expected revenue into Q4. Despite top-line pressure, we continued strategic investments in sales capacity ahead of the holiday season.
Revenue Performance
Revenue of $12.5M represented 96% of budget and 6% growth over prior year. The shortfall to budget is directly attributable to the Alpha launch delay; underlying business performance remained on track. Customer demand indicators remain strong entering Q4.
Profitability Discussion
Gross margin contracted to 32.8% versus planned 34.6%, reflecting an 8% increase in raw material costs due to ongoing supply chain disruptions. Operating expenses exceeded budget by $200K due to the planned addition of two sales FTEs, an investment that positions us well for Q4 and 2025.
Key Takeaways
- Revenue shortfall is timing-related; Q4 outlook incorporates delayed Alpha revenue
- Gross margin pressure from materials requires pricing review for 2025
- Sales investments complete; no additional OpEx increases planned
- Net income expected to recover in Q4 with Alpha launch and seasonal strength
Outlook
We expect Q4 to deliver results above the original quarterly plan, recovering the Q3 shortfall. The Alpha launch is confirmed for early October, and pre-orders indicate strong demand.
Refining AI Reports
After getting AI output, you should:
- Verify accuracy: Confirm all numbers and claims
- Add specificity: Insert company-specific details AI couldn't know
- Adjust tone: Fine-tune for your organization's culture
- Check completeness: Ensure all key points are covered
- Apply judgment: Add or modify conclusions based on your knowledge
3.2 Executive Summaries
The Art of Summarization
Executive summaries distill complex information for time-pressed readers. AI can:
- Identify the most important points
- Structure information logically
- Maintain appropriate brevity
- Ensure key messages aren't lost
Template: Executive Summary
Please create an executive summary from the following
detailed analysis:
[Paste your detailed content here]
Requirements:
- Maximum [X] words/sentences
- Lead with the most important conclusion
- Include [3-5] key supporting points
- End with recommendation or next steps
- Audience: [Specify]
One-Page Summary Template
Convert this [report type] into a one-page summary:
[Paste detailed content]
Structure:
1. Headline/Key Message (1 sentence)
2. Background (2-3 sentences)
3. Key Findings (4-5 bullets)
4. Implications (2-3 sentences)
5. Recommended Actions (3-4 bullets)
Keep total length under 400 words.
Summarizing Financial Statements
Prompt for Annual Report Summary:
Summarize the key financial highlights from this 10-K
excerpt for a busy investor who has 2 minutes:
[Paste relevant sections]
Include:
- Revenue and earnings trends (1 sentence each)
- Key strategic developments
- Main risks to note
- One-line investment thesis
3.3 Board Presentations
Preparing Board Materials
Board members need:
- High-level strategic perspective
- Clear, concise information
- Decision-relevant framing
- Appropriate context without excessive detail
Template: Board Financial Review Slide
Create speaking notes for a board presentation slide on
[Topic].
Data to present:
[Your key data points]
Context board should know:
[Relevant background]
Key message I want to convey:
[Your main point]
Format needed:
- Slide title recommendation
- 3-4 bullet points for the slide
- 2-3 sentences of speaking notes per bullet
- Potential board questions to anticipate
Template: Board Narrative
Draft a board-level narrative on our financial performance
for [Period].
Results:
[Key metrics and comparisons]
Strategic context:
[Major initiatives, market conditions]
Please write:
1. Opening statement (sets the stage)
2. Performance overview (factual, high-level)
3. Strategic implications
4. Forward-looking statement
Tone: Confident but balanced, appropriately formal
Length: 300-400 words
3.4 Memos and Analysis Documents
Financial Analysis Memos
Template for Analysis Memo:
Draft a memo analyzing [Topic].
TO: [Recipient]
FROM: [Your position]
RE: [Subject]
Background:
[Context for the analysis]
Analysis:
[Key data and findings]
Questions to address:
1. [First question]
2. [Second question]
3. [Third question]
Please structure the memo with:
- Executive summary (3-4 sentences)
- Background section
- Analysis with clear headings
- Conclusions
- Recommendations
Professional tone, approximately [X] words.
Investment/Project Recommendation Memos
Draft a recommendation memo for [project/investment].
Investment details:
- Amount: $[X]
- Expected returns: [Details]
- Timeline: [Duration]
- Risks: [Key risks]
Analysis completed:
[Summary of your analysis]
Please include:
1. Recommendation statement (approve/reject/modify)
2. Summary of opportunity
3. Financial analysis highlights
4. Risk assessment
5. Implementation considerations
6. Conclusion and ask
Accounting Research Memos
Help me draft a technical accounting memo on [topic].
Issue:
[Description of the accounting question]
Relevant facts:
[Key facts of the situation]
Applicable guidance:
[Standards/regulations to consider]
Please structure as:
1. Issue statement
2. Background/facts
3. Applicable guidance summary
4. Analysis
5. Conclusion
Note: I will verify all technical citations independently.
3.5 Email Communications
Professional Finance Emails
Template: Explaining Financial Results
Draft an email to [recipient] explaining [topic].
Key points to convey:
[List main messages]
Tone: [Formal/Conversational/Diplomatic]
Relationship context: [Internal/External, seniority level]
The email should be [X] paragraphs and include
a clear call to action.
Template: Requesting Information
Draft an email requesting [specific information] from
[recipient type].
Context: [Why I need this information]
Deadline: [When needed]
Specificity needed: [How detailed should request be]
Keep professional and make it easy for them to respond
with exactly what I need.
Template: Following Up
Draft a follow-up email for [situation].
Original request: [What was asked]
Time elapsed: [How long since original request]
Urgency level: [High/Medium/Low]
Maintain professionalism while clearly conveying
the importance of a timely response.
3.6 Quality Control for AI-Generated Content
The Review Process
AI drafts are first drafts. Always review for:
1. Factual Accuracy
- Are all numbers correct?
- Are claims accurate?
- Are citations real (not fabricated)?
2. Completeness
- Is anything important missing?
- Does it address all requirements?
- Are conclusions supported?
3. Appropriateness
- Is the tone right for the audience?
- Is the level of detail appropriate?
- Are there any sensitive issues?
4. Clarity
- Is the message clear?
- Is the structure logical?
- Will the reader understand?
5. Originality
- Does it sound authentic to you?
- Have you added your insights?
- Would you stand behind it?
Editing AI Content
Common Refinements Needed:
| Issue | How to Fix |
|---|---|
| Too generic | Add specific company/client details |
| Too formal/informal | Adjust tone to match your style |
| Missing context | Insert background recipient needs |
| Passive voice | Make language more direct |
| Weak conclusions | Strengthen with your judgment |
| Unnecessary words | Tighten prose |
The "Would I Say This?" Test
Before sending any AI-assisted document, ask:
- Would I naturally express it this way?
- Does this represent my professional opinion?
- Am I comfortable having my name on this?
If any answer is no, revise further.
3.7 Building Report Templates
Creating Your Template Library
Over time, build a library of proven prompts:
Weekly Flash Report:
[Your customized prompt for weekly reporting]
Monthly Close Summary:
[Your customized prompt for monthly narratives]
Quarterly Board Materials:
[Your customized prompt for board prep]
Iteration and Improvement
Track what works:
- Save successful prompts
- Note modifications that improved output
- Build on past successes
- Share effective templates with colleagues
Module 3 Summary
Key Takeaways:
-
AI accelerates drafting: Use AI to create first drafts of reports, memos, and presentations quickly.
-
Provide clear context: The more specific your prompt about audience, tone, and requirements, the better the output.
-
Always review and refine: AI output is a starting point. Add your expertise, verify accuracy, and ensure authenticity.
-
Build a template library: Develop and refine prompts for your recurring reporting needs.
-
Maintain your voice: Final documents should sound like you, reflect your judgment, and carry your professional endorsement.
Preparing for Module 4
In the next module, we'll explore using AI for data extraction from documents. You'll learn to:
- Extract data from invoices and receipts
- Process contract information
- Handle financial statements and reports
- Build extraction workflows
Before Module 4:
- Try drafting a report with AI assistance
- Practice the executive summary template
- Note what editing was required
"AI can write faster than you, but only you can ensure the writing represents your professional judgment and serves your audience."
Ready to continue? Proceed to Module 4: Data Extraction from Documents.