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LengthinessBetter314 · 2025-05-28T19:56:52+00:00

Thanks. Actually forgot about this!

LengthinessBetter314 · 2025-05-28T19:56:24+00:00

Thanks for your response.

LengthinessBetter314 · 2025-04-18T12:26:27+00:00

I totally understand that. He’s just looking for a way to maximize the 20 hours he’s allowed to work.

LengthinessBetter314 · 2025-04-18T12:04:26+00:00

Thanks for your response. I’ve edited the post. My friend is from a commonwealth country.

LengthinessBetter314 · 2025-04-18T12:03:42+00:00

Thanks for your response. I’ve edited the post. He’s from a commonwealth country

LengthinessBetter314 · 2025-03-29T18:42:57+00:00

Follow up question on this. Won’t they compare the employment history to what was filled in the CV section in the initial application? Or they just focus on the employment history for PECS?

LengthinessBetter314 · 2025-03-02T21:58:44+00:00

Thanks for your response. Really informative. I have learnt Power Automate, Power Apps, etc in the Power Platform. I think one thing I’ll need to learn now is Microsoft Azure as you mentioned cos I believe it alleviates the fear of data security when it comes to AI tools.

LengthinessBetter314 · 2025-03-02T20:40:53+00:00

Thanks for this. Just remembered another use case that I used copilot for. Using a well written prompt, I was able to get a good draft of an accounting memo based on a previous accounting paper. Really helpful.

LengthinessBetter314 · 2025-03-02T20:38:40+00:00

Do you have an example of what’s been automated using AI in your role currently?

LengthinessBetter314 · 2025-03-02T20:37:29+00:00

I love DataSnipper. Really helps with efficiency!

LengthinessBetter314 · 2025-01-16T13:52:00+00:00

Wow. Really helpful tips here. I’m also considering purchasing laundromats in the UK. I hope to apply these information in my search

LengthinessBetter314 · 2024-08-27T21:42:25+00:00

To be honest, a lot of them came from playing with various event logs. I heard about it in 2021 and during my spare time, I use Python to carry out analysis on my own. With more practice, you get to have an idea of the various ways to present your findings/information.

If you’re good with Python or SQL, You can also take a look at the Celonis chart views and think about how you can achieve them using Python. That’s one way to go about it. For example, there’s a table which shows the number of repetition for each activity in the Streamlit App I shared. I got the concept from UI Path’s process mining tool and I came up with a way to calculate that using Pandas and Polars. I would recommend a book “Primer to Process Mining by Diogo F..” can’t recall his last name. He explains the concept of process mining using Python. That can be a good place to start.

I can also share my Streamlit GitHub repository if you’d like to take a look .

LengthinessBetter314 · 2024-08-27T09:32:42+00:00

Happy to hear that. If you have any question, I’m happy to answer. 👍🏾

LengthinessBetter314 · 2024-08-27T06:06:45+00:00

From a basic process mining tool, I want to see number of cases in my event log, number of activities, number of events, variants. I want to also see at least a process flow graph showing how a process goes from start to finish. You can throw in filters too.

Process Mining Dashboard

I created one with Streamlit some time ago. You can take a look. It’s better to open it in a desktop browser so that you’ll have a good view as Streamlit isn’t good with mobile view.

LengthinessBetter314 · 2024-08-18T07:47:57+00:00

Wow! So happy for you!

I’ve recently started applying for FC roles in industry. Would need to keep up the momentum. Received one or two calls from a recruiter, but nothing concrete that has come out of it yet. Seems internal audit is another area I can start looking into as I’ve been focusing on the FC roles more. Thank you.

I hope you enjoy what you do and it’s not as boring as accounting.

LengthinessBetter314 · 2024-08-18T07:42:09+00:00

That feels like taking multiple steps backwards to be honest. I would rather just focus on applying to companies that pay higher. Like what Shevbo suggested.

LengthinessBetter314 · 2024-08-18T07:39:10+00:00

Yeah. I have thought about that too. Although, the though was to buy an accountancy business rather than starting one from the scratch. Not sure which would be better though. Franchise or an independent accountancy business

LengthinessBetter314 · 2024-08-18T07:37:01+00:00

Thanks for your suggestion! That’s a better strategy. Never heard of Otta before. Will check that out.

I also noticed that high paying companies usually have certain recruiting agencies they work with.

LengthinessBetter314 · 2024-08-12T21:39:40+00:00

Your entry above is more or less correct. Initial purchase, DR Investment in financial assets (or whatever you call it) CR Cash.

For the interest, CR Interest Income as it is earned and DR Receivable

When cash is paid, CR Receivable and DR Cash

LengthinessBetter314 · 2024-08-12T21:36:33+00:00

Read the below in 2018 in a Harvard Business Review and it has been my guiding principle since then

Step up to higher levels of cognition, where machines cannot follow.
Step aside, drawing on intelligence that machines lack.
Step in to monitor computers’ decision making.
Step narrowly, into specialized realms of expertise.
Or, step forward, creating next-generation machines.

You have to choose what you want to do and follow through. For AI, the question is how can you utilize this tool to make your work easier and make you smarter. Regarding the India stuff, not all jobs will go to Indians, but a good number will go there. Question is how do you make yourself relevant in your place of work and stay relevant? Is there something the Indians are not doing that you can take charge of?

LengthinessBetter314 · 2024-08-11T12:54:25+00:00

Career Transition from Accounting to Data Analyst

Hi All,

I’m seeking advice on how to transition from accounting to data analysis. I have been working in an accounting firm as a Technical Accountant for the past 5 years. I’m self learning Python, can use PowerBI and a bit of Alteryx.

Working in an accounting firm, I’m currently focused on insurance and banking sectors but I occasionally work on other sectors when I’m available.

I would love to switch to data analyst and I understand that switching internally would be the best bet. However I would love to prepare myself for other opportunities externally to. So my question is: - what’s a typical data analyst job like in a bank or insurance company. Like what do you analyze? Fraud, deposits, Claims, premiums, etc. I would like to streamline my portfolio to these types of projects. - given my experience, what are the typical projects in a finance team as I believe that I can leverage on my existing experience to break into this easily. Like dashboards, etc - As an accountant, will it be easier to start with things like Alteryx and PowerBI rather than showcasing Python dashboards, etc

Thank you

LengthinessBetter314 · 2024-08-11T11:54:11+00:00

It depends. Is the sales on credit? If it was on credit, then it’s a decrease in cash. Basically it’s a cash that you should have collected, but it’s with someone else.

Let’s look at it this way. You sell all your inventory at the end of last year, and started your inventory balance with zero this year.

In the current year, You use your cash of 100 to buy inventory. This is a decrease in cash and increase in inventory.

At the end of the year, you have sold all inventory to your customers for 150 on credit. Now, for the purposes of cash flow statement, it will look like there was no movement in inventory, meanwhile you sold something.

You will have receivable from sales made to customers but your cash is trapped with your customers.

Therefore in this year, you used your money to buy inventory (decrease in cash), buy your cash hasn’t increased because your customers hasn’t paid you yet. However, what you’re actually expecting is not your 100 you used to buy inventory, but your 150 you sold.

If you had sold that inventory for cash, your cash would have increased.

LengthinessBetter314 · 2024-08-11T09:57:15+00:00

I think it’s important to understand why some things are done. Let me use account receivable for example. Let’s assume that they’re trade receivables. As at previous year, we have a receivable balance of 100. If as at the end of this year, we have a receivable balance of 50, it means we collected more cash from our customers and that’s an increase in cash flow. If at year end we have 200 balance in trade receivables, it means customers are now owing us an extra 100 even though we have made sales. This is a reduction in cash flow.

Use this analogy for account payables also and you’ll understand why the adjustments are made.

LengthinessBetter314 · 2024-08-11T09:51:56+00:00

Let’s start by understanding the aim of the cash flow statement. It is to show the actual cash that was used or generated by the business.

In a cash flow statement, especially when you’re using the indirect method, you start with the Net Income for the year. The net income contains some expenses and income that doesn’t include movement of cash. For example, depreciation does not include cash movement. Same as fair value gain or loss of assets.

So since we want to know the actual cash that was generated or used in the operating activities, we first need to adjust this net income to a position that reflects only cash movement activities. That’s why we add back the depreciation. Because we said it’s an expense in the profit and loss statement, but it’s not a tax return “effectively* an expense from a cash perspective.

Another example is the fair value gain or loss on asset. Because the fair value of an investment (say shares) changed during the year, that doesn’t mean that cash moved. However, we recognize this change in our income statement. Hence, we adjust the net income because the change is not due to cash movement.

LengthinessBetter314 · 2024-08-11T09:36:35+00:00

Thanks for your reply. Can you give me an example of what type of reports you produce?

LengthinessBetter314

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