This study explores the potential of ChatGPT as a human agent in academic accounting assessments. It investigates how ChatGPT can assist students in answering multiple-choice questions in two financial accounting course units: Introductory Financial Accounting and Advanced Financial Accounting. The study presents five numerical-based and five narrative-based questions for each course unit. ChatGPT was tested on these questions, and its performance was evaluated in terms of accuracy and percentile rankings. ChatGPT achieved an 80th percentile in the Introductory Financial Accounting course unit and a 50th percentile in the Advanced Financial Accounting course unit. ChatGPT4, an improved version, achieved a 90th percentile in the Introductory Financial Accounting course unit and a 70th percentile in the Advanced Financial Accounting course unit. The findings indicate that ChatGPT can provide accurate answers to some questions but struggles with complex ones due to incorrect assumptions or lack of understanding. The study highlights the need for academia to reconsider the nature of assessable knowledge and the role of ChatGPT in the educational ecosystem. It also emphasizes the importance of maintaining academic integrity and the ethical implications of using AI in education. The study concludes that while ChatGPT can be a useful tool for students, it should not replace the role of educators in teaching and assessing students. The study also suggests that academia should focus on developing original knowledge and skills, and that ChatGPT can be a beneficial open innovation for education. The study provides insights into the potential of AI in education and the need for a balanced approach to its use in academic settings.This study explores the potential of ChatGPT as a human agent in academic accounting assessments. It investigates how ChatGPT can assist students in answering multiple-choice questions in two financial accounting course units: Introductory Financial Accounting and Advanced Financial Accounting. The study presents five numerical-based and five narrative-based questions for each course unit. ChatGPT was tested on these questions, and its performance was evaluated in terms of accuracy and percentile rankings. ChatGPT achieved an 80th percentile in the Introductory Financial Accounting course unit and a 50th percentile in the Advanced Financial Accounting course unit. ChatGPT4, an improved version, achieved a 90th percentile in the Introductory Financial Accounting course unit and a 70th percentile in the Advanced Financial Accounting course unit. The findings indicate that ChatGPT can provide accurate answers to some questions but struggles with complex ones due to incorrect assumptions or lack of understanding. The study highlights the need for academia to reconsider the nature of assessable knowledge and the role of ChatGPT in the educational ecosystem. It also emphasizes the importance of maintaining academic integrity and the ethical implications of using AI in education. The study concludes that while ChatGPT can be a useful tool for students, it should not replace the role of educators in teaching and assessing students. The study also suggests that academia should focus on developing original knowledge and skills, and that ChatGPT can be a beneficial open innovation for education. The study provides insights into the potential of AI in education and the need for a balanced approach to its use in academic settings.