This study explores the potential and limitations of ChatGPT as a human agent in academic accounting assessments, specifically in financial accounting courses. The research focuses on multiple-choice questions, including both numerical and narrative-based questions, in two course units: Introductory Financial Accounting and Advanced Financial Accounting. The study compares the performance of ChatGPT and ChatGPT4 in providing accurate answers to these questions. **Key Findings:** - **ChatGPT's Performance:** - In the Introductory Financial Accounting course, ChatGPT scored 4 out of 5 questions correctly, placing it in the 80th percentile. - In the Advanced Financial Accounting course, ChatGPT scored 3 out of 5 questions correctly, placing it in the 60th percentile. - **ChatGPT4's Performance:** - In the Introductory Financial Accounting course, ChatGPT4 scored all questions correctly, placing it in the 90th percentile. - In the Advanced Financial Accounting course, ChatGPT4 scored 4 out of 5 questions correctly, placing it in the 70th percentile. **Discussion:** - **Pedagogical Instruction:** - ChatGPT provides solutions rather than teaching, which can be beneficial for competent learners but may hinder novice learners. - It does not provide scaffolding for learning, which could be counterproductive for long-term learning. - **Deception versus Detection:** - Academic institutions face challenges in detecting deception by students using ChatGPT. - The focus should be on developing moral agency and ensuring academic integrity. - **Implications for Academia:** - ChatGPT has raised questions about the nature and assessment of knowledge. - Academic institutions should refocus on original knowledge and skill development. - Work-integrated learning is crucial for developing emotional intelligence and practical skills. - Open innovation can benefit academia by facilitating access to vast knowledge and reducing costs. **Implications for ChatGPT:** - The study raises questions about the business model and moral consciousness of large language models like ChatGPT. - Reflections on these issues can help improve the ethical and practical aspects of using such tools in education.This study explores the potential and limitations of ChatGPT as a human agent in academic accounting assessments, specifically in financial accounting courses. The research focuses on multiple-choice questions, including both numerical and narrative-based questions, in two course units: Introductory Financial Accounting and Advanced Financial Accounting. The study compares the performance of ChatGPT and ChatGPT4 in providing accurate answers to these questions. **Key Findings:** - **ChatGPT's Performance:** - In the Introductory Financial Accounting course, ChatGPT scored 4 out of 5 questions correctly, placing it in the 80th percentile. - In the Advanced Financial Accounting course, ChatGPT scored 3 out of 5 questions correctly, placing it in the 60th percentile. - **ChatGPT4's Performance:** - In the Introductory Financial Accounting course, ChatGPT4 scored all questions correctly, placing it in the 90th percentile. - In the Advanced Financial Accounting course, ChatGPT4 scored 4 out of 5 questions correctly, placing it in the 70th percentile. **Discussion:** - **Pedagogical Instruction:** - ChatGPT provides solutions rather than teaching, which can be beneficial for competent learners but may hinder novice learners. - It does not provide scaffolding for learning, which could be counterproductive for long-term learning. - **Deception versus Detection:** - Academic institutions face challenges in detecting deception by students using ChatGPT. - The focus should be on developing moral agency and ensuring academic integrity. - **Implications for Academia:** - ChatGPT has raised questions about the nature and assessment of knowledge. - Academic institutions should refocus on original knowledge and skill development. - Work-integrated learning is crucial for developing emotional intelligence and practical skills. - Open innovation can benefit academia by facilitating access to vast knowledge and reducing costs. **Implications for ChatGPT:** - The study raises questions about the business model and moral consciousness of large language models like ChatGPT. - Reflections on these issues can help improve the ethical and practical aspects of using such tools in education.