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  • 1. MACPA Professional Issues Update 2012 Student Edition Tom Hood, CPA, CITP, CGMA Salisbury University March 5, 2013
  • 2. “People  don’t  buy  what  you  do,  they  buy  why  you  do  what  you  do.”   -­‐  Simon  Sinek  
  • 3. The world without CPAs 3
  • 4. What CPAs think about the future 30 Future Forums 1,000 CPAs Identified these top trends
  • 5. MANAGING THE SEA CHANGE•  Change•  Complexity•  Compliance•  Convergence•  Competition
  • 6. The  Top  100  Most  InfluenAal   •  AICPA •  SEC •  PCAOB •  MACPA! •  IRS •  Ron Baker – Value Pricing •  FASB •  Gary Boomer – Tech Guru •  The next president •  IASB
  • 7. Top Seven Issues Facing Youngprofessionals 1.  InformaAon  overload   (including  accounAng  and  tax   complexity)   2.  Work  /  life  balance   3.  GeneraAonal  issues  and   communicaAons  (including   upper  management  not   sharing  knowledge  with  the   younger  generaAon)   4.  Developing  networking  skills   5.  Keeping  up  with  technology  -­‐-­‐   especially  the  cloud   6.  Finding  career  guidance   7.  Understanding  social  media   benefits   7
  • 8. In  1997,  the  CPA  profession  crowd-­‐sourced  its  future  with   over  3,500  CPAs  in  the  CPA  Vision  Project   That  was  re-­‐validated  in  2011  by  8,000+  CPAs   Our core purpose, our reason for being is CPAs... Making sense of a changing and complex world. Here is what they said…
  • 9. The  DNA  of  the  CPA   Values  &  Competencies  •  Leadership  •  CommunicaAon  •  Strategic  Thinking  •  CollaboraAon  &  Synthesis  •  Technologically  Savvy  
  • 10. Our  Vision  Statement  for  the  future  is:   (  mandates  to  ourselves  for  a  successful  future)   CPAs are the trusted professionals who enable people and organizations to shape their future. Combining insight with integrity, CPAs deliver value by: •  CommunicaAng  the  total   picture  with  clarity  and   objecAvity,   •  TranslaAng  complex   informaAon  into  criAcal   knowledge,   •  AnAcipaAng  and  creaAng   opportuniAes,  and   •  Designing  pathways  that   transform  vision  into  reality.  
  • 11. Moving  up  the  InformaAon  Value  Chain   Designing pathways that transform vision into reality Transactions Decisions Communicating the total picture with clarity & objectivity Anticipating Data Translating complex Knowledge and creating information into opportunities critical knowledge InformationCopyright 2012 – Business Learning Institute
  • 12. CPAs Inspire Confidence “CPAs have a unique perspective that is“I would be more confident in a job done valuable when making business and financialby a CPA than if it were done by an decisions, even when those decisions are notaccountant who is not a CPA” directly related to accounting” BDMs BDMs Disagree Disagree Agree Agree Dont know Dont know Investors Investors Disagree Disagree 15% 16% Agree 74% Agree 67% Dont know Dont know 11% 17%
  • 13. According to these young professionals, thefuture is one in which CPAs:● are proactive, flexible, adaptive andcollaborative by nature;● have regained the trust of their clients andthe public at large;● have successfully bridged the profession’s“leadership gap” by focusing on successionplanning, personal growth, and generationalcooperation;● have created the profession’s premierglobal industry standards and best practices;● have redefined the profession throughwork / life integration, collaboration, and ateam-first approach; and● have earned a reputation as technologicalinnovators. 13 Wisdom from the MACPA LeadershipAcademy
  • 14. 14
  • 15. The 15 The CPA Brand
  • 16. Your CPA says somuch.Your CPA, CGMA saysyou’re a managementaccountant. 16
  • 17. Give your career a Bounce!
  • 18. MANAGING THE SEA CHANGE Be the Captain of your own ship! •  Continuous Learning •  Competency •  Collaboration = Career Success
  • 19. It really is about this...
  • 20. You cant connect the dots looking forward you can only connect them lookingbackwards. So you have to trust that the dots will somehow connect in your future.
  • 21. A leader sjob is todefinecontext andprovidehope andinspiration... 24
  • 22. Tom  Hood,  CPA.CITP   CEO   Maryland  Associa8on  of  CPAs   Business  Learning  Ins8tute   (443)  632-­‐2301   E-­‐mail   Web  hNp://  Blog  hNp://