Generating an astounding $110.7 billion annually in domestic revenue alone [1], the world of accounting is one deceptively lacking automation of its most business-critical processes. While accounting tools do exist for the common person, especially when it is time to pay their taxes, such innovations scarcely exist for many larger industrial tasks. Exceedingly common business events, such as Business Combinations, are surprisingly manual tasks despite their $1.1 trillion valuation in 2020 [2]. This work presents the twin accounting solutions TurboGAAP and TurboIFRS: an unprecedented leap into these murky waters in an attempt to automate and streamline these gigantic accounting tasks once entrusted only to teams of experienced accountants.
A first-to-market approach to a trillion-dollar problem, TurboGAAP and TurboIFRS are the answers for years of demands from the accounting sector that established corporations have never solved.

Generating an astounding $110.7 billion annually in domestic revenue alone [1], the world of accounting is one deceptively lacking automation of its most business-critical processes. While accounting tools do exist for the common person, especially when it is time to pay their taxes, such innovations scarcely exist for many larger industrial tasks. Exceedingly common business events, such as Business Combinations, are surprisingly manual tasks despite their $1.1 trillion valuation in 2020 [2]. This work presents the twin accounting solutions TurboGAAP and TurboIFRS: an unprecedented leap into these murky waters in an attempt to automate and streamline these gigantic accounting tasks once entrusted only to teams of experienced accountants.
A first-to-market approach to a trillion-dollar problem, TurboGAAP and TurboIFRS are the answers for years of demands from the accounting sector that established corporations have never solved.

"Generating an astounding $110.7 billion annually in domestic revenue alone [1], the world of accounting is one deceptively lacking automation of its most business-critical processes. While accounting tools do exist for the common person, especially when it is time to pay their taxes, such innovations scarcely exist for many larger industrial tasks. Exceedingly common business events, such as Business Combinations, are surprisingly manual tasks despite their $1.1 trillion valuation in 2020 [2]. This work presents the twin accounting solutions TurboGAAP and TurboIFRS: an unprecedented leap into these murky waters in an attempt to automate and streamline these gigantic accounting tasks once entrusted only to teams of experienced accountants.
A first-to-market approach to a trillion-dollar problem, TurboGAAP and TurboIFRS are the answers for years of demands from the accounting sector that established corporations have never solved."

In 2022, the revenue generated from accounting services hit an all-time high of 119.48 billion USD (“Accounting Services in the US - Market Size”, 2022). On top of this, research has shown that 45% of all accounting professionals would like to automate something about their workflow (Thomas, 2020). Indeed, a lot of bookkeeping accountancy has been phased out by simple automation. However, larger accounting tasks like business mergers still require a team of accountants despite being a largely iterative process. This project chronicles one such attempt at automating accounting events or transactions that are performed by businesses both large and small. With the help of accounting students Madeline Stolper and Heddie Liu we were able to build a fully-functioning website to automate accounting transactions. For this project, we used industry-standard software frameworks React and Express to build the site with dynamic accounting applications. These applications were built with reusable components, making the development of future applications very simple. We also leveraged cutting-edge technological solutions from Amazon Web Services to make the website available on the Internet with rapid response times. Lastly, we incorporated an agile approach to project management and communication, in order to create functionality in the most efficient and organized manner possible. On a large scale, something like this has never been attempted and TurboIFRS/GAAP represents a revolutionary leap in accounting automation.

The objective of this study is to build a model using R and RStudio that automates ratemaking procedures for Company XYZ’s actuaries in their commercial general liability pricing department. The purpose and importance of this objective is to allow actuaries to work more efficiently and effectively by using this model that outputs the results they otherwise would have had to code and calculate on their own. Instead of spending time working towards these results, the actuaries can analyze the findings, strategize accordingly, and communicate with business partners. The model was built from R code that was later transformed to Shiny, a package within RStudio that allows for the build-up of interactive web applications. The final result is a Shiny app that first takes in multiple datasets from Company XYZ’s data warehouse and displays different views of the data in order for actuaries to make selections on development and trend methods. The app outputs the re-created ratemaking exhibits showing the resulting developed and trended loss and premium as well as the experience-based indicated rate level change based on prior selections. The ratemaking process and Shiny app functionality will be detailed in this report.