AcctkPrax runs every situation through the same disciplined sequence. Here's each step, and what's happening underneath.
Pick your reporting framework (IFRS, IFRS for SMEs, FRS 102, FRS 105), your entity type (sole trader through to PLC or charity) and jurisdiction — each one genuinely changes the answer. Then write the transaction in plain English. You can also paste in any specific rule or bylaw you want weighed, like a clause in a shareholders' agreement.
A good accountant doesn't answer an underspecified question; they ask. AcctkPrax identifies the one or two facts that would change the treatment — was that money a loan or equity? interest-bearing? at arm's length? — and tells you why each one matters. Answer them and it proceeds.
The treatment and journals, the principle and the standard it rests on, a real precedent (or an honest blank), the stakeholder impact scored high/medium/low, the regulatory and filing obligations for your entity type, and a tax note kept deliberately separate. Every standard reference carries an unverified tag, because this stage has no verified database behind it.
A second pass re-reads the treatment as the most sceptical audit partner alive — testing substance over form, recognition and measurement, classification, disclosure completeness, related-party flags and going concern. Shown in red, it reports what it couldn't knock down and what residual risk remains. Pre-empting the objections is the point.
Every situation is saved so you can recall it later, and a specialised chatbot ("the desk") can draw on that history. Under each answer is a correction box: if you're an accountant and it's wrong, say what's wrong and what's right. Those corrections are collected, and the chatbot treats them as authoritative over its own guess.
Language models can produce a confident but wrong paragraph reference, or invent a precedent that doesn't exist. AcctkPrax is built to surface that risk rather than hide it: citations are flagged for you to check, precedents are left blank rather than fabricated, and tax is firewalled from the accounting answer. The roadmap is a verified standards layer that turns "unverified" into a real, cited source — which is exactly what your corrections help build.