Artificial intelligence has permeated all areas of human life. Today, it helps call centers with consulting, plans delivery routes for goods, and adapts educational programs to the level of the student.
Financial and economic activities are no exception. AI systems help specialists recognize and identify discrepancies in documents, independently deliver the necessary data to specialized accounting programs, analyze transactions, and even make financial risk forecasts.
“Modern technologies have radically changed the accounting profession. The traditional specialist, whose work boiled down to reconciling debits and credits, has been replaced by a strategic advisor to the manager who participates in the development of management decisions,” says Gulmira Kazhitayeva, outstanding financial and accounting expert with 17 years of experience working in national oil and gas companies in Kazakhstan, an honorary member and finance ambassador of the international association Ambassadors Club Dubai (UAE).
Today, it is not only important to be skilled in working with accounting programs, but also to have what is known as “technological intelligence,” i.e., an understanding of the interrelationships between processes and the ability to build new accounting models when production requirements dictate.
As deputy chief accountant at QazaqGaz Exploration and Production LLP, Kazhitayeva introduced an innovative development into the company’s practical activities, which made it possible to quickly and accurately account for fixed assets and capital expenditures.
“Assets in oil and gas companies are of enormous value. These include pipelines, pumps, wells, and equipment for production and transportation. Our team faced the fact that the accounting of these assets was slow and inaccurate, and at the same time, we could not reliably report how much an asset was worth at a specific point in time,” recalls Gulmira.
To solve this problem, she decided to automate the process. She created digital passports for each of the company’s assets on the ERP platform, which made it possible to establish a conditional link between the purchase of a repair part and a specific fixed asset.
Another innovation of the project was the financial and technical commission built into the system, which prevented the program from allowing modernization above the set limit until department employees agreed on capitalization. The actions taken yielded good results.
“Thanks to modern technologies and ingenuity, we were able to reduce the classification of capital expenditures from 7 to 2 working days, avoid disputes between engineers and financiers, and eliminate errors in tax accounting,” the expert shares.
At the same time, the project had a positive economic impact by preventing penalties and setting a new standard for interaction between engineers and financiers.
This unique development did not go unnoticed by the Expert Council of the prestigious Construction, Infrastructure, and Finance Business Award, which awarded Gulmira in the category “Master of Operational Efficiency in Oil and Gas Accounting – 2024.” Two years earlier, representatives of another international competition, People Awards International, nominated her for “Accountant-Analyst 2022” for her in-depth analysis, which helped optimize the company’s risks.
The secret to Kazhitayeva’s professional success as a talented accountant is based on continuous development and optimization of work processes.
The two main principles of her philosophy are:
“Don’t trust your first impression” — a principle that guides her in searching for the deeper meaning behind a routine operation.
“Be useful” is the second principle, which motivates her to use analytical data not only for reporting, but also for the financial development of the company.
