Technical Accounting Assistant FAQ

Numeric's Technical Accounting Assistant is a suite of 3 AI-powered assistants built into your workspace. Each assistant handles a distinct part of the technical accounting workflow — from answering questions and drafting deliverables to reviewing your work and benchmarking disclosures.

This FAQ covers all 3 assistants:

• Q&A, Memo & Policy Assistant — Research, draft, and iterate on accounting deliverables.

• Peer Review Assistant — Get structured feedback on work you've already prepared.

• SEC Disclosures Assistant — Pull real disclosure examples from comparable public companies.

Getting Started

What is the Technical Accounting Assistant?

The Technical Accounting Assistant is an AI-powered tool within Numeric that helps accounting teams answer technical accounting questions, draft accounting memos, and prepare accounting policies. It draws on authoritative standards (US GAAP, IFRS, UK GAAP) and guidance from recognized industry resources to deliver research-backed responses tailored to your organization's context.

Who is this tool designed for?

It's built for controllers, accounting managers, technical accounting teams, and finance professionals who routinely navigate complex accounting standards. Whether you're a public or private company, the assistant adapts its guidance to your reporting framework and industry.

Is this a replacement for a technical accounting advisor?

No. The assistant is a research and drafting aid — not a substitute for professional judgment. It accelerates your workflow by surfacing relevant guidance and structuring analysis, but all outputs should be reviewed by a qualified professional before implementation.

Capabilities

Can the assistant draft accounting memos?

Yes. When you ask the assistant to draft or prepare a technical accounting memo, it walks you through a structured process: gathering the facts of your transaction, building an outline for your review, and producing a full memo organized by accounting issue (scope, recognition, measurement, disclosure, and more). You can customize the output at each stage.

Can it help me draft or review accounting policies?

Yes. The assistant supports policy drafting and review through a phased workflow — confirming your framework and elections, scoping technical and operational considerations, and producing a structured policy document. It identifies applicable practical expedients and policy elections under your selected standard.

Does it support both US GAAP and IFRS?

Yes. The assistant supports US GAAP, IFRS, and UK GAAP. When you specify your accounting framework, all guidance, citations, and policy language are scoped to that standard. The assistant won't blend frameworks unless you explicitly ask it to compare them.

What accounting topics does the assistant cover?

The assistant covers a broad range of topics including: Revenue, Leases, Business Combinations & Acquisitions, Debt & Equity, Derivatives & Hedging, Income Tax & Credits, Fair Value & Financial Instruments, Consolidation & VIE, Foreign Currency, Compensation, Equity Method & Joint Ventures, Earnings per Share, SEC Reporting, Statement of Cash Flows, Software Costs, ESG Reporting, Insurance Contracts, IPO & SPAC, and more. Industry-specific guidance is also available.

Can I upload files for the assistant to reference?

Yes. You can attach PDFs and images (up to 10 MB each) during any conversation type — Q&A, memo, or policy. This is useful when you want the assistant to reference a specific contract, agreement, or document as part of its analysis. Other file formats aren't currently supported. Please note that any file uploaded will not be stored/saved after the duration of the conversation.

How It Works

How does the assistant understand my question?

When you submit a question, the assistant analyzes the content to determine what you're asking, which accounting topics are relevant, and what level of detail you need. It then retrieves guidance from its knowledge base and delivers a response scoped to your situation. If your question is ambiguous, it asks targeted clarifying questions before proceeding.

Can it ask me follow-up questions?

Yes. The assistant asks clarifying questions when it needs more information to give you an accurate answer — particularly when professional judgment is involved. For memo and policy workflows, it conducts structured fact-finding before drafting.

How does the assistant handle industry-specific guidance?

When your question involves industry-specific nuances (e.g., SaaS revenue recognition, real estate lease accounting, insurance contracts), the assistant automatically identifies and applies the relevant industry guidance alongside general standards.

What if I want to switch from Q&A to a memo or policy mid-conversation?

The assistant can reroute your session. If you start with a Q&A question and then request a memo or policy, it shifts to the new request without losing context from your earlier exchange.

Tips & Best Practices

What's the best way to start a memo or policy request?

Start by asking a question about the accounting topic first, rather than jumping straight into a memo or policy request. For example, ask "How should we account for a lease modification under ASC 842?" before following up with "Can you draft a memo on this?" This gives the assistant the context it needs to produce a more accurate and relevant draft. Think of it like briefing a colleague — the more context you provide up front, the better the output.

What are the Options settings, and should I configure them?

Yes — before starting a conversation, check the Options panel. It contains 4 configurable preferences that shape every response the assistant gives you:

1. Accounting Standard — select US GAAP, IFRS, or UK GAAP so guidance is scoped to your framework.

2. Big 4 Preference — choose a preferred firm (EY, PwC, Deloitte, or KPMG) to prioritize that firm's published guidance in references.

3. Public or Private — indicate your entity type, since reporting requirements differ.

4. Industry — specify your industry so the assistant applies the most relevant specialized guidance.

Setting these up front means you won't need to repeat this context in every question.

Any other tips for getting the best results?

Be specific about your fact pattern. Include relevant details like transaction dates, parties involved, contract terms, and dollar amounts when applicable. The more concrete your question, the more precise the assistant's guidance and confidence assessment. For broad or conceptual questions, the assistant notes where additional facts could change its analysis.

Output & Citations

Does the assistant cite its sources?

Yes. The assistant references authoritative guidance at the paragraph level (e.g., ASC 606-10-32-5, IFRS 16.39) and, where applicable, cites relevant sections from recognized industry publications. All guidance is summarized in the assistant's own words — it doesn't reproduce verbatim authoritative text.

Why doesn't it provide verbatim quotes from the standards?

Reproducing authoritative text directly carries compliance and accuracy risks. The assistant summarizes guidance faithfully and references the official source (e.g., the FASB Codification) when you need exact language.

What is the confidence score in the response?

For Q&A and memo outputs, the assistant provides a confidence assessment (High, Medium, or Low) based on the clarity of the facts, completeness of the information provided, and degree of judgment involved. This helps you gauge where additional professional review may be warranted.

Can I download Big 4 firm publications through the assistant?

No. The assistant references mapped guidance from recognized industry resources to inform its analysis, but it doesn't provide direct downloads or access to any third-party publications. If you need the source material, the assistant directs you to the original publisher.

Customization & Preferences

Can I set preferences for my organization?

Yes. The assistant can tailor its responses based on your accounting framework (US GAAP, IFRS, UK GAAP), entity type (public or private), industry, and preferred industry resource references. These preferences help the assistant deliver more targeted guidance from the outset. To update your preferences, navigate to Options at the top of your screen.

Can I customize memo and policy outputs?

Yes. Both the memo and policy workflows include built-in review stages where you can adjust the outline, modify sections, change emphasis, or request revisions. The assistant incorporates your edits and re-presents the updated document until you're satisfied.

Can it provide comparable public company examples?

When relevant, the assistant can identify comparable public companies in your industry to contextualize its guidance. This is particularly useful for benchmarking disclosures or understanding how peers have applied specific standards.

Limitations & Boundaries

What can't the assistant do?

The assistant doesn't provide final accounting conclusions, legal advice, or audit opinions. It can't access your general ledger data, perform calculations in external systems, or generate downloadable Excel templates. It's a research and drafting tool, not a transactional system.

Can I ask product support questions through this tool?

No. The Technical Accounting Assistant is dedicated to accounting guidance. For questions about your Numeric workspace (tasks, reconciliations, integrations, user permissions, etc.), email support@numeric.io or use the help widget in your workspace.

Security & Data

Is my data secure?

Yes. The Technical Accounting Assistant operates within Numeric's existing security and privacy framework. Your queries and responses are handled in accordance with Numeric's data protection policies. For specific security questions, reach out to your Solutions Manager.

Are my conversations stored or used for training?

For details on data retention and usage policies, contact solutions@numeric.io or refer to Numeric's privacy documentation. The assistant is designed with enterprise-grade privacy considerations.

Peer Review Assistant

Getting Started with Peer Review

What is the Peer Review Assistant?

The Peer Review Assistant operates as an independent technical reviewer for your accounting work products. Upload a deliverable — such as a technical accounting memo, financial statements, disclosure draft, or supporting schedule — and the assistant evaluates it for technical accuracy, logical consistency, factual alignment with supporting documents, completeness, and audit defensibility. It provides structured feedback, not rewrites.

Do I need to upload a document to use it?

Yes — this is a hard requirement. The Peer Review Assistant won't proceed unless you upload relevant documentation. If you start a session without an attachment, it prompts you to provide the necessary files before any review begins. Supported file types are PDFs and images, up to 10 MB each.

How is this different from the Technical Accounting Assistant?

Think of it this way: the Technical Accounting Assistant helps you research, draft, and build deliverables (Q&A, memos, policies). The Peer Review Assistant reviews deliverables you've already prepared. It's the difference between the colleague who helps you write the memo and the one who reviews it before it goes to the auditors.

How Peer Review Works

What does the review output look like?

The assistant delivers a structured review that includes: notable strengths of your analysis, an executive summary with overall assessment and audit risk level, detailed key issues with explanations of why each matters and how to address it, any factual inconsistencies between your deliverable and supporting documents, arithmetic or consistency errors in financial statements, areas requiring additional information, and targeted follow-up questions. Each review also includes a confidence assessment.

What does the confidence assessment mean?

The Peer Review Assistant rates its audit risk level (Low, Moderate, or Elevated) and its confidence in the assessment (High, Medium, or Low). These ratings reflect the completeness and clarity of the documents you provided, as well as the degree of judgment involved. An "Elevated" risk rating doesn't mean your work is wrong — it means the assistant identified areas that may face additional scrutiny in an audit.

Can I ask it to draft or rewrite my memo?

No. The Peer Review Assistant is strictly a reviewer. If you ask it to draft a memo, policy, or conclusion, it redirects you to the Technical Accounting Assistant for that work. This separation is intentional.

Tips for Peer Review

How do I get the most out of a peer review session?

Upload all relevant supporting documentation alongside your primary deliverable. If you're reviewing a technical memo, include the underlying contracts, schedules, or agreements it references. The more complete the document set, the more thorough the review — particularly for factual consistency checks. The assistant tells you if it couldn't evaluate certain dimensions due to missing information.

Does it use the same Options settings as the Technical Accounting Assistant?

The Peer Review Assistant shares the same configurable Options (accounting standard, Big 4 preference, public/private, industry). Setting these helps the assistant calibrate its review against the right framework and reporting expectations.

SEC Disclosures Assistant

Getting Started with SEC Disclosures

What is the SEC Disclosures Assistant?

The SEC Disclosures Assistant searches SEC EDGAR to find real disclosure examples from public companies. It retrieves actual disclosure language from filings like 10-Ks, 10-Qs, and 8-Ks for specific accounting topics you specify. This helps you benchmark your own disclosures against peers.

How does it know which companies to search?

The assistant uses the comparable companies configured in your Options settings. Before using the SEC Disclosures Assistant, make sure you've entered your peer companies in the Options panel. By default, the assistant returns disclosure examples from the top 3 most relevant comparables, but you can request results from all of them.

How SEC Disclosures Works

How long do queries take?

Expect queries to take up to 2 minutes. The assistant searches live SEC filings in real time, which involves retrieving and parsing actual EDGAR documents. This is slower than the Technical Accounting Assistant or Peer Review Assistant, where responses are typically much faster.

What filing types does it support?

By default, the assistant searches the most recent 10-K, 10-Q, and 8-K filings. If you need disclosures from other filing types — such as S-1s, proxy statements, or SEC Comment Letters — specify this in your query. The assistant expands its search accordingly.

What information does it provide for each disclosure?

For every disclosure example, the assistant provides: the company name and ticker, the exact disclosure excerpt, the document type and fiscal period, the issuance date, the specific section or footnote identifier, and a direct link to the filing on SEC EDGAR.

Tips for SEC Disclosures

How should I phrase my queries?

Be targeted and specific. Rather than asking "show me all disclosures," ask for a specific topic: "Show me revenue recognition disclosures from 10-K filings" or "Find lease modification disclosures from recent 10-Qs." The more focused your request, the more relevant the results. Unlike the Technical Accounting and Peer Review assistants, this tool is optimized for single, precise queries rather than extended conversations.

Can I request disclosures for more than 3 companies?

Yes. The default is 3 to keep results manageable, but you can ask for disclosures from all companies on your comparables list. Specify this in your query — for example, "Show me stock-based compensation disclosures for all my comparables."

What if no disclosures are found for my topic?

If the assistant can't find relevant disclosures for a given topic and company combination, it lets you know and suggests refining your query or updating your comparables list. Not every company has a disclosure that matches every topic, particularly for niche or emerging standards.

Support & Feedback

Who do I contact if I have issues with the assistant?

For technical issues, feature requests, or to connect with an accounting expert, email solutions@numeric.io or reach out to your Numeric Solutions contact.

How can I provide feedback?

Please share your thoughts directly with your Numeric account team or at solutions@numeric.io. Your input helps us continuously improve the tool.