Workshop Exercise
Put AI to Work on Your Financials
Follow along using the demo financials below — or use your own if you have them handy.
Getting Started
How this works
Open the AI tool you already use — Claude, ChatGPT, Gemini, anything — and follow these steps. The demo financials below are your default, but you're welcome to use your own.
1 Open your AI tool
Go to claude.ai, chat.openai.com, or whichever AI assistant you use. Start a new conversation.
2 Choose your financials
Default — use the demo below
Scroll to the Demo Financials section. Screenshot it or type the key numbers into the AI.
Or — use your own
If you have your P&L or balance sheet on your phone, upload the file or paste the numbers in directly. Either works.
Scroll to the Demo Financials section. Screenshot it or type the key numbers into the AI.
Or — use your own
If you have your P&L or balance sheet on your phone, upload the file or paste the numbers in directly. Either works.
3 Copy & paste the prompt
Scroll to the Prompt section, tap Copy, and paste it into the AI — after your financials, or on its own if you uploaded a file. A specific prompt gets a far more useful answer than "analyze my P&L."
4 Read, then reflect
Review what surfaces. Use the reflection questions at the bottom — we'll discuss as a group.
Copy & Paste
The prompt
Customize the parts in gold if helpful.
Your Prompt
I'm the owner of a [type of business]. I'm sharing my financial statements below. Please do the following:
1. In plain language, tell me what these financials are saying about my business — what looks healthy, what's a concern, and what's unclear.
2. Calculate my gross margin % and net profit margin. Are those strong, weak, or typical for a service business my size?
3. Flag any line items that seem unusually high, low, or worth investigating — and explain why in plain terms.
4. Look at the balance sheet. What does it tell me about the financial health of the business that the P&L doesn't show?
5. What is the single most important question I should be asking about my business right now, based on what you see?
Be direct and specific. I'm a business owner, not an accountant.
Keep in mind
AI is excellent at explaining and translating financial information. It's not a substitute for a real advisor when stakes are high. Use it to generate better questions — not final answers.
Demo Financials
Hana Consulting LLC
A fictional Honolulu-based HR & organizational consulting firm. Cash basis. December 31, 2024.
Profit & Loss · Jan–Dec 2024
| Line Item | 2024 |
|---|---|
| Revenue | |
| Consulting retainers | $412,000 |
| Project-based engagements | $138,000 |
| Training & workshops | $24,000 |
| Total Revenue | $574,000 |
| Cost of Services | |
| Subcontractor fees ▲ | $198,000 |
| Software & tools | $14,400 |
| Total Cost of Services | $212,400 |
| Gross Profit | $361,600 |
| Operating Expenses | |
| Owner compensation ▲ | $180,000 |
| Salaries (1 FTE admin) | $58,000 |
| Rent & office | $24,000 |
| Travel & entertainment ▲ | $18,400 |
| Insurance | $8,600 |
| Professional fees | $6,500 |
| Marketing & advertising | $4,200 |
| Miscellaneous | $11,200 |
| Total Operating Expenses | $310,900 |
| Net Income | $50,700 |
Balance Sheet · As of Dec 31, 2024
Assets
Cash & checking$38,200
Savings / reserve$12,000
Equipment (net)$8,400
Total Assets$58,600
Liabilities & Equity
Business credit card$14,200
Equipment loan$6,100
Total Liabilities$20,300
Owner equity$8,900
Retained earnings ▲$29,400
Total Equity$38,300
Total Liab. + Equity$58,600
Flags worth exploring ▲
Subcontractor fees ($198K = 34% of revenue). Growing fast. Is the owner staying busy by outsourcing rather than hiring? Sustainable margin or a slow margin squeeze?
Owner compensation ($180K). Is this market rate? How is it structured — salary, draws, both? Is it hiding true profitability?
T&E ($18,400 = 3.2% of revenue). High relative to firm size. What's driving it?
Retained earnings ($29,400 on $574K revenue). Despite solid revenue, very little has accumulated in the business. The owner has taken most of it out. What happens in a slow month?
Owner compensation ($180K). Is this market rate? How is it structured — salary, draws, both? Is it hiding true profitability?
T&E ($18,400 = 3.2% of revenue). High relative to firm size. What's driving it?
Retained earnings ($29,400 on $574K revenue). Despite solid revenue, very little has accumulated in the business. The owner has taken most of it out. What happens in a slow month?
Prefer to use your own financials?
Upload your P&L or balance sheet PDF directly to the AI, or type the key numbers into the chat. The prompt works with either.
Group Discussion
Reflection questions
After reading the AI's response, consider:
1
Did anything surprise you? Did the AI surface something you hadn't noticed — or confirm something you already suspected?
2
How specific was the response? If it was generic, what would you change about the prompt to get a more useful answer?
3
What question did it say you should be asking? Is that a question you've been asking — or avoiding?
4
What did the balance sheet show that the P&L didn't? What would you have missed if you only looked at one?
5
Could you see yourself doing this monthly? What would a simple monthly financial review habit look like for your business?
Take this with you
AI lowers the barrier to understanding your own numbers. The goal isn't to replace your financial advisor — it's to show up to every conversation with them better prepared, and to start making decisions from data instead of instinct.
