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The Relationship
 Between the CPA
Firm Administrator &
State CPA Societies
 or Everything you wanted to
know about CPA-SEA & State CPA
            Societies


  Tom Hood, CPA.CITP – Past-
           President
           CPA – SEA
CPA State Executives Association


      But were afraid to ask
Being in business today feels like being in
          permanent whitewater




                                              2
You feel
overwhelmed
by the rapid
and turbulent
pace of change
and
uncertainties in
business today
You need new skills and new resources to
      ride these waves of change
             Photo: Pratt’s surfing page
Keeping up with the CPA Profession
CPA-SEA is the network – that
connects you through your state
         CPA Society
CPA-SEA
   Our Purpose
        “to assist our members to achieve
        operational excellence in the
        management of their organizations
        and provide a forum for networking
        & communication to enable
        members to choose informed
        courses of action on professional
        issues facing CPAs”

   Our Values:
     Leadership
     Integrity

     Collaboration

     Exploration
CPA-SEA Leadership

   Betsy Adrian - MN        Dennis Tomorsky - WI
   Kathy Anderson - FL      Loretta Doon - CA
   Rich Jones - WA          Deb Riley - VT
   Tom Hood – MD            Jeanine Birmingham –
   Erin Hardwick - SC        AL
                             Jane Egan - MT
Making It Real




                 10
What the world would
miss if we were gone?
• We keep the CPA Profession up with the
  rapidly changing environment
• We are bridge builders – taking care of
  the CPA Profession’s infrastructure
• We are the leadership development
  pipeline for the CPA Profession
• We protect the CPA reputation & image
• We are the connectors of the Profession
  – connecting to key resources
• We mobilize the Profession to do the
  things you cannot do alone!
Mega-trends
1. Regulations &
   Standards
2. Globalization
3. Workforce
4. Technology
Top 10 Issues Facing CPAs 
             1. Economic Outlook  
             2. Tax  
             3. Business Operations  
             4. Implementation and Execution 
                of Plans  
             5. New Business Development  
             6. Personal/Professional 
                Development  
             7. Management and Leadership  
             8. Financial Regulatory Reform  
             9. Access to Financing and Credit  
             10 New Accounting Standards, 
                IFRS 
            Source: CPA Trendlines for AICPA Feb, 2010
Top Ten Issues for MFG 
1.  Regulatory/Legislative (56) 
2.  Private Company Leadership (47) 
3.  Capital Markets Awareness / Recognition (34) 
4.  Rethinking Business Model (25) 
5.  Protect Audit/CPA Franchise (20) 
6.  Risk Management (Audit efficiencies) (20) 
7.  Leadership Development / Succession 
    Planning (19) 
8. Global / International (Clients / IFRS / 
    Branding) (17) 
9. Leveraging Technology & Social Media (17) 
10. MFG Issues specific forums / focus groups (8) 
                                                     14
PCPS/TSCPA MAP Survey 2009 
     Top Five Issues Facing Firms <21 
1. Client Retention 
2. Marketing / Practice Growth 
3. Tax Law Changes & Complexity 
4. Keeping up with Regulations & 
   Standards 
5. Retaining Qualified Staff / 
   Work/Life Balance 


For larger firms add Partner
Accountability & Succession Planning         Mark Koziel, CPA
                                             AICPA PCPS
                    http://pcps.aicpa.org/
                                                                15
CPA Firms: Most Profitable Small
     Business <$10 million
     CPA Firms ranked number one by Forbes

     Surveyed 300,000

     Outrank:
     •   Chiropractors, Dentists, Optometrists
     •   Sales Financing
     •   Insurance Agencies and Brokerages
     •   Physicians, General/Family Practitioners
     •   Consumer Lending
     •   Diagnostic Imaging Centers

16        American Institute of CPAs                Source: Forbes
They have you in their sights!
Seven Keys to Success in CPA Firm Management

1. Leadership
2. Technology
3. Learning Organization
4. Marketing and
Business Development
5. A Great Place to Work
6. Client Service and Satisfaction
7. Strategy Execution
So what? Top 10 Things
You Need to Know about
State CPA Societies
1. Maintain CPA Infrastructure – Legislative &
   Regulatory
2. Support the Highest Standards of Professionalism
   – Peer Review & Ethics
3. Build and Maintain the CPA Pipeline – Students –
   Young Professionals
4. Leadership Experience & Training
5. Protect & Promote the CPA Image & Reputation
6. Serve the public – Financial Literacy
7. Connect you to resources
8. Training & Learning – Technical & Soft Skills
9. Developed a Vision for the Future
10.Creating a Learning & Performance Management
   System for CPAs
Meet Bill… Managing Partner
                             • Bill’s firm files tax returns in
                             9 states + Maryland
                             • Last year he would have
                             required additional state
                             licenses in all states (except
                             OH, VA, MO, WI)
                             • He would have had to
                             register all of his tax CPAs
                             and staff as a tax advisor (est
                             $250 apiece)
                             • He would have to report to
                             two state boards with different
                             CPE requirements
 What would this cost you?
                             • He would have had to
                             charge & collect sales taxes
                             on his accounting & tax
                             services
                             •He would be subject to two
                             new federal agencies – FTC
                             and the new CFPA
Where do major changes come from?
Us – MACPA & AICPA   Them

               OR
State CPA Statutes
police power of the states to protect their citizens vs commerce clause
Financial Regulatory Reform




24      American Institute of CPAs
CPA Mobility Legislation - 2010

                                         WA
     AK
                                                                                                                                                                VT
                                                         MT                                                                                       ME
                                                                    ND

                                    OR                                             MN                                                                       NH
                                               ID
                                                                     SD                           WI
                                                          WY                                                                            NY                      *MA
                                                                                                                  MI
                                                                                                                                      *PA         CT       RI
                                                                         NE             IA
                                          NV                                                                           OH
                                                    UT                                                 IL    IN                                   DE      NJ
                               CA                              CO                                                           WV
                                                                                                                                       VA
                                                                          KS                 MO                   KY                                       MD
            HI
                                                                                                                               NC
                                                                                                            TN                                     DC
                                                AZ                            OK
                                                              NM                         AR                                   SC

                                                                                                   MS            AL     *GA

                                                                     TX                      LA

                                                                                                                                 FL
          Awaiting Governor Signature - 1
          CPA Mobility Legislation Pending - 2                                                                                                                  PR


          CPA Mobility Enacted 46                                                                                                            GU
                                                                                                                                                       U.S. VIRGIN ISLANDS

     *    CPA Mobility Enacted Only for
          Other Mobility States – GA, PA, MA
          In Process
25               American Institute of CPAs
2. Maintain the Highest
Professional Standards –
Peer Review & Ethics - Your firm license
depends on it
# 3 Promoting the CPA Career –
Maryland example




                          New/Young
   Tomorrows
                         Professionals              MACPA
    CPA.org
                           Network



Most state societies have similar programs to onboard students into
the Profession
Biggest Issue Facing NYPNs
 • Bridging the Gap between college & real world
 • Under-Developed Skill Sets
    – Leadership & Communication
    – Time Management & Organization
    – Analytical Skills
    – Technical Skills
 • Work-Life Balance
 • Limited Networking Opportunities
 • Intimidation
 • CPA Exam
 • Lack of a Voice in Profession
# 4 Leadership Pipeline




 Ernie Almonte – AICPA Past-Chair came from Rhode Island as
 past president – most AICPA Chairs, Board members, and Council
 members had their start in State CPA Societies
Meet the New Young Professionals
Remember when you were ‘made’ to be a
member of your State Society & AICPA?




    According to the William E. Smith study of Association
    value: Benefits to the professionals and their employers
    include higher morale, increased employer loyalty,
    networking, professional development, leadership
    experience, professional community and big-picture
    thinking.
# 5 Protecting the CPA Image &
Reputation
• Remember Enron & WorldCom?

Public Relations and Image protection are
  both a major focus and great example of
  State CPA Societies and the AICPA
  working together for the benefit of the
  entire CPA Profession
# 6 Financial Literacy




            www.feedthepig.org
         www.360financialliteracy.org
# 7 Connectors to Resources
# 8 Training & Learning




                                    Critical
                                    Turning
                                     Point




Courtesy of the Business Learning
Institute © 2000
# 9 Developed a Vision for the
Future
Another example of the power of the AICPA & State CPA
Societies working together – the CPA Vision identified these
critical competencies for 2011

• Communication &
  Leadership
• Strategic & Critical
  Thinking
• Focus on the Customer,
  Client, and Market
• Interpretation of
  Converging Information
• Technologically adept
# 10 New Learning Management System (LMS)

                             Course Search
                Recordkeeping          Single Sign-On
                                          CPA2Biz
   Administration                        Web-Based                    Web Delivery
                                          Learning
                                        Management
    Competency                             System                     Compliance
     Integrated Learning                                                 Integrated
    Curriculums Developed                                               CPE Tracking
      Around Individual                                                   Linked to
         Career Paths                                                 CPE Requirements
                                     Content Library
                                    AICPA, State CPA Societies, 3rd
                                               Parties

        State Society                       AICPA                      Firm or
                                                                       Company
        Branded                             Branded
        Learning Center                     Learning Center            Branded
                                                                       Learning Center
       American Institute of CPAs
Tom Hood, CPA.CITP               Betsy Adrian
            CEO                       President
Maryland Association of CPAs   Minnesota Society of CPAs
 Business Learning Institute
       (443) 632-2301                (952) 831-2707
   E-mail tom@macpa.org        E-mail badrian@mncpa.org

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AAA National Conference - Everything you wanted to know about state CPA Societies

  • 1. The Relationship Between the CPA Firm Administrator & State CPA Societies or Everything you wanted to know about CPA-SEA & State CPA Societies Tom Hood, CPA.CITP – Past- President CPA – SEA CPA State Executives Association But were afraid to ask
  • 2. Being in business today feels like being in permanent whitewater 2
  • 3. You feel overwhelmed by the rapid and turbulent pace of change and uncertainties in business today
  • 4. You need new skills and new resources to ride these waves of change Photo: Pratt’s surfing page
  • 5. Keeping up with the CPA Profession
  • 6. CPA-SEA is the network – that connects you through your state CPA Society
  • 7. CPA-SEA  Our Purpose  “to assist our members to achieve operational excellence in the management of their organizations and provide a forum for networking & communication to enable members to choose informed courses of action on professional issues facing CPAs”  Our Values:  Leadership  Integrity  Collaboration  Exploration
  • 8. CPA-SEA Leadership  Betsy Adrian - MN  Dennis Tomorsky - WI  Kathy Anderson - FL  Loretta Doon - CA  Rich Jones - WA  Deb Riley - VT  Tom Hood – MD  Jeanine Birmingham –  Erin Hardwick - SC AL  Jane Egan - MT
  • 9.
  • 11. What the world would miss if we were gone? • We keep the CPA Profession up with the rapidly changing environment • We are bridge builders – taking care of the CPA Profession’s infrastructure • We are the leadership development pipeline for the CPA Profession • We protect the CPA reputation & image • We are the connectors of the Profession – connecting to key resources • We mobilize the Profession to do the things you cannot do alone!
  • 12. Mega-trends 1. Regulations & Standards 2. Globalization 3. Workforce 4. Technology
  • 13. Top 10 Issues Facing CPAs  1. Economic Outlook   2. Tax   3. Business Operations   4. Implementation and Execution  of Plans   5. New Business Development   6. Personal/Professional  Development   7. Management and Leadership   8. Financial Regulatory Reform   9. Access to Financing and Credit   10 New Accounting Standards,  IFRS  Source: CPA Trendlines for AICPA Feb, 2010
  • 14. Top Ten Issues for MFG  1. Regulatory/Legislative (56)  2. Private Company Leadership (47)  3. Capital Markets Awareness / Recognition (34)  4. Rethinking Business Model (25)  5. Protect Audit/CPA Franchise (20)  6. Risk Management (Audit efficiencies) (20)  7. Leadership Development / Succession  Planning (19)  8. Global / International (Clients / IFRS /  Branding) (17)  9. Leveraging Technology & Social Media (17)  10. MFG Issues specific forums / focus groups (8)  14
  • 15. PCPS/TSCPA MAP Survey 2009  Top Five Issues Facing Firms <21  1. Client Retention  2. Marketing / Practice Growth  3. Tax Law Changes & Complexity  4. Keeping up with Regulations &  Standards  5. Retaining Qualified Staff /  Work/Life Balance  For larger firms add Partner Accountability & Succession Planning Mark Koziel, CPA AICPA PCPS http://pcps.aicpa.org/ 15
  • 16. CPA Firms: Most Profitable Small Business <$10 million CPA Firms ranked number one by Forbes Surveyed 300,000 Outrank: • Chiropractors, Dentists, Optometrists • Sales Financing • Insurance Agencies and Brokerages • Physicians, General/Family Practitioners • Consumer Lending • Diagnostic Imaging Centers 16 American Institute of CPAs Source: Forbes
  • 17. They have you in their sights!
  • 18. Seven Keys to Success in CPA Firm Management 1. Leadership 2. Technology 3. Learning Organization 4. Marketing and Business Development 5. A Great Place to Work 6. Client Service and Satisfaction 7. Strategy Execution
  • 19. So what? Top 10 Things You Need to Know about State CPA Societies 1. Maintain CPA Infrastructure – Legislative & Regulatory 2. Support the Highest Standards of Professionalism – Peer Review & Ethics 3. Build and Maintain the CPA Pipeline – Students – Young Professionals 4. Leadership Experience & Training 5. Protect & Promote the CPA Image & Reputation 6. Serve the public – Financial Literacy 7. Connect you to resources 8. Training & Learning – Technical & Soft Skills 9. Developed a Vision for the Future 10.Creating a Learning & Performance Management System for CPAs
  • 20.
  • 21. Meet Bill… Managing Partner • Bill’s firm files tax returns in 9 states + Maryland • Last year he would have required additional state licenses in all states (except OH, VA, MO, WI) • He would have had to register all of his tax CPAs and staff as a tax advisor (est $250 apiece) • He would have to report to two state boards with different CPE requirements What would this cost you? • He would have had to charge & collect sales taxes on his accounting & tax services •He would be subject to two new federal agencies – FTC and the new CFPA
  • 22. Where do major changes come from? Us – MACPA & AICPA Them OR
  • 23. State CPA Statutes police power of the states to protect their citizens vs commerce clause
  • 24. Financial Regulatory Reform 24 American Institute of CPAs
  • 25. CPA Mobility Legislation - 2010 WA AK VT MT ME ND OR MN NH ID SD WI WY NY *MA MI *PA CT RI NE IA NV OH UT IL IN DE NJ CA CO WV VA KS MO KY MD HI NC TN DC AZ OK NM AR SC MS AL *GA TX LA FL Awaiting Governor Signature - 1 CPA Mobility Legislation Pending - 2 PR CPA Mobility Enacted 46 GU U.S. VIRGIN ISLANDS * CPA Mobility Enacted Only for Other Mobility States – GA, PA, MA In Process 25 American Institute of CPAs
  • 26. 2. Maintain the Highest Professional Standards – Peer Review & Ethics - Your firm license depends on it
  • 27. # 3 Promoting the CPA Career – Maryland example New/Young Tomorrows Professionals MACPA CPA.org Network Most state societies have similar programs to onboard students into the Profession
  • 28. Biggest Issue Facing NYPNs • Bridging the Gap between college & real world • Under-Developed Skill Sets – Leadership & Communication – Time Management & Organization – Analytical Skills – Technical Skills • Work-Life Balance • Limited Networking Opportunities • Intimidation • CPA Exam • Lack of a Voice in Profession
  • 29. # 4 Leadership Pipeline Ernie Almonte – AICPA Past-Chair came from Rhode Island as past president – most AICPA Chairs, Board members, and Council members had their start in State CPA Societies
  • 30. Meet the New Young Professionals Remember when you were ‘made’ to be a member of your State Society & AICPA? According to the William E. Smith study of Association value: Benefits to the professionals and their employers include higher morale, increased employer loyalty, networking, professional development, leadership experience, professional community and big-picture thinking.
  • 31. # 5 Protecting the CPA Image & Reputation • Remember Enron & WorldCom? Public Relations and Image protection are both a major focus and great example of State CPA Societies and the AICPA working together for the benefit of the entire CPA Profession
  • 32. # 6 Financial Literacy www.feedthepig.org www.360financialliteracy.org
  • 33. # 7 Connectors to Resources
  • 34. # 8 Training & Learning Critical Turning Point Courtesy of the Business Learning Institute © 2000
  • 35. # 9 Developed a Vision for the Future Another example of the power of the AICPA & State CPA Societies working together – the CPA Vision identified these critical competencies for 2011 • Communication & Leadership • Strategic & Critical Thinking • Focus on the Customer, Client, and Market • Interpretation of Converging Information • Technologically adept
  • 36. # 10 New Learning Management System (LMS) Course Search Recordkeeping Single Sign-On CPA2Biz Administration Web-Based Web Delivery Learning Management Competency System Compliance Integrated Learning Integrated Curriculums Developed CPE Tracking Around Individual Linked to Career Paths CPE Requirements Content Library AICPA, State CPA Societies, 3rd Parties State Society AICPA Firm or Company Branded Branded Learning Center Learning Center Branded Learning Center American Institute of CPAs
  • 37. Tom Hood, CPA.CITP Betsy Adrian CEO President Maryland Association of CPAs Minnesota Society of CPAs Business Learning Institute (443) 632-2301 (952) 831-2707 E-mail tom@macpa.org E-mail badrian@mncpa.org