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MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
MACPA 2014 Professional Issues Update - Special Business & Industry edition
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MACPA 2014 Professional Issues Update - Special Business & Industry edition

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What are the top issues facing CFOs, Controllers, and CPAs in Business/Industry, NFP and Government? …

What are the top issues facing CFOs, Controllers, and CPAs in Business/Industry, NFP and Government?

MACPA CEO Tom Hood, voted second most influential leader in the CPA Profession in Accounting Today’s 2013 list of the Top 100 Most Influential People in Accounting (his ninth time on the list) sees five fundamental shifts facing accounting now – Leadership, Learning, Technology, Generations and Workplace.

In a world of rapid change and increasing complexity, the winners will be those individuals and organizations who can keep their L>C², their rate of learning must be greater than the rate of change and greater than their competition. Tom’s updates are always popular for CPAs and include the latest trends and issues the profession is facing locally, nationally, and globally.

This special Business & Industry Edition also covers a special session on the CFO of the Future by Ash Noah, CPA, CGMA of the AICPA/CGMA and a presentation by our Business & Industry Committee of the results of our ThinkTank session on the major issue and opportunities facing CPAs in B&I by Skip Falatko and B&I member Joselin Martin.

Also include is an update on legislation and regulation and the advocacy efforts of the Maryland Association of CPAs.

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  • 1. Tom Hood, CPA, CITP, CGMA Business & Industry Edition Rockville, MD March 26, 2014
  • 2. Tom Hood, CPA, CITP, CGMA! Tom Hood, CPA, CITP, CGMA CEO MACPA www.macpa.org and Business Learning Institute (BLI) www.blionline.org! http://www.linkedin.com/in/tomhood/! If there is a conversation about the future of the profession, you're bound to hear Hood's name mentioned as one of the people leading the way. – Accounting Today Magazine! •  Named the Second Most Influential in Accounting by Accounting Today Magazine 2013 •  Linked-In Top 150 Influencer •  Top 25 Influencers in Learning & HR by HR Examiner •  Top 25 Thought Leaders in Public Accounting by CPA Practice Adviser •  Working on Learning Management with AICPA/CPA2Biz, Cloud Curriculum, Performance Management !
  • 3. http://macpa.cnf.io! ! Respond to a Poll! Ask a Question! Select the session: Business & Industry PIU
  • 4. Download today’s slides at … www.SlideShare.net/thoodcpa
  • 5. Insights  to  Ac,on     “One  without  the  other  is  either  useless  or  destruc,ve”  
  • 6. http://cpa.tc/4d7
  • 7. The future is so bright, I gotta wear shades… - Timbuk3
  • 8. The CPA Career
  • 9. Expects a 13% growth rate in accounting and auditing jobs from 2012 to 2022
  • 10. # 3 2014
  • 11. Accounting education records broken 2013 AICPA Trends Report 40,350 CPA firm new hires 82,177 graduates
  • 12. CPA credential in high demand! Source: Wall Street Journal, 8/13/13 25% 38% 0 5 10 15 20 25 30 35 40 2006 2013 CFOs who are CPAs Employers: Most desired credential Solid salary growth Entry-level demand also strong Robert Half 2014 Salary Guide
  • 13. The CPA Brand The
  • 14. The future of accounting is bright – accounting students from six Maryland universities at MACPA – NABA event http://cpa.tc/4aa
  • 15. What  do  you  want  from  your   employer?  
  • 16. What  are  you  looking  for  in  your   associa,on?  
  • 17. CFO - the Chief Future Officer? Ash Noah CPA, FCMA, CGMA VP External Relations – Management Accounting The future CFO 2013 IBM
  • 18. 202020 The future business paradigm?
  • 19. 212121 Of Global CFOs do not believe that the ‘CFO’ title adequately covers the diversity in the role Chief Future Officer? Finance Forte Survey 2011 Ernst & Young
  • 20. 222222 Report the ability to find the right skills is progressively more difficult the higher the roles are within the organization Chief Future Officer? Plugging the skills gap 2012 EIU 68%
  • 21. 232323 Chief Future Officer? Turning the Tide; Accenture 40%Reported high-end analytical skills as being the future success of their organization But only 15% Of those have these skills available
  • 22. 242424 Talent Pipeline Draining Growth 2012 CGMA Developer of talent pipeline Of c-suite respondents agreed that the ability to attract, retain and deploy the right talent is ‘the’ main competitive advantage over a third
  • 23. 252525 Measures and focuses on non-financial value Rebooting Business - 2012 CGMA
  • 24. 262626 Measures and focuses on non-financial value Rebooting Business - 2012 CGMA
  • 25. 272727 Recognizes value in non-financial measures* * Extent of value provided - % of respondents selecting 8-10 on a scale of 10. Rebooting Business - 2012 CGMA
  • 26. 282828 Big Data enabled From insight to impact - 2013 CGMA
  • 27. Big Data enabled finance •  A minority (23%) report no role in anlaytics •  Another minority (21%) claim a leading role •  A 55% majority say finance partners with others (55% = 37% + 9% + 9%) •  Interviews agree on a collaborative role From insight to impact - 2013 CGMA
  • 28. 303030 Overcoming impediments to harnessing Big Data From insight to impact - 2013 CGMA
  • 29. 313131 Five traits of the data enabled CFO From insight to impact - 2013 CGMA
  • 30. Source: IBM CEO Survey - Leading Through Connections Turns data to insights to action
  • 31. Shared Service Centers Technology SCALE BENEFITS Focus on Process and Technology Finance function has delivered scale benefits
  • 32. INCREASED INSIGHTS BUSINESS SUPPORT REAL BUSINESS BENEFITS Focus on People and Products The future is about delivering value Shared Service Centers Technology SCALE BENEFITS
  • 33. 353535 The catalyst for Innovation § Garners C-suite support for innovation § Promotes a culture of innovation permeating the whole company, not just R&D § Devices employee incentives to both encourage innovation and innovative culture § CFOs drive for predictability and reliability - an obstacle to innovation § Flexibility and tolerance of failure are necessary § Financial processes and metrics need to be aligned with innovation lifecycle § Learns to ‘live with ambiguity’ Managing Innovation- 2013 CGMA
  • 34. 363636 The innovation imperative § Average tenure of a company in the S&P500 has fallen to 18 years from 61 years in 1950s Managing Innovation- 2013 CGMA
  • 35. 373737 The role of finance throughout the innovation lifecycle Leading innovation and managing risk Managing Innovation- 2013 CGMA
  • 36. 383838 Chief Future Officer? Leading through Connections: IBM 75%Collaborative 67% Communicative % of CEOs that identified these skills as CRITICAL for future success 61% Creativity
  • 37. 393939 Chief Future Officer? Turning the Tide; Accenture 52%Report international skills as being critical for the future success of their organization But only 18% Of those have these skills available
  • 38. 404040 Of the global respondents identified ‘strategic vision’ as the hardest skill to find for executive roles within their organizations Chief Future Officer? Plugging the skills gap 2012 EIU 55%
  • 39. CFO of the Future will create strategic impact
  • 40. 424242 CFO – Striking the right balance
  • 41. 434343 CFO of the Future builds business capabilities
  • 42. 444444 Importance of various skills for finance – as rated by non-finance personnel The inside track ; Partnering for value- 2012 CGMA
  • 43. 454545 Skills most in need of improvement by finance personnel The inside track ; Partnering for value- 2012 CGMA
  • 44. 464646 Collaboration and decision support The inside track ; Partnering for value- 2012 CGMA
  • 45. 474747 IBMs Chief Future Officer
  • 46. 484848 Collaboration and decision support
  • 47. Applying principles to management process & practice
  • 48. 505050 777 Greatest value coming from non-financial sources* * Extent of value provided - % of respondents selecting 8-10 on a scale of 10. CFO of the Future will create strategic impact 888 Will be data enabled 222222 The role of finance throughout the innovation lifecycle Leading innovation and managing risk 666 Talent Pipeline Draining Growth 2012 CGMA Developer of talent pipeline 242424 CFO – Striking the right balance
  • 49. 515151 FURTHER READING http://www.cgma.org/Resources/Reports/DownloadableDocuments/CGMA-managing_innovation.pdf http://www.cgma.org/Resources/Reports/DownloadableDocuments/inside-track.pdf http://www.cgma.org/Resources/Reports/DownloadableDocuments/CGMA_launch_report.pdf http://www.cgma.org/Resources/Reports/DownloadableDocuments/From_insight_to_impact- unlocking_the_opportunities_in_big_data.pdf http://www.cgma.org/Resources/Reports/DownloadableDocuments/CGMA_Talent_pipeline_report.pdf
  • 50. Thank You!
  • 51. Controller  &     CFO  Roundtable   Held  November  18,  2013  
  • 52. Organiza,on  Type   50%   25%   15%   10%   Private  company   Public  company   Not-­‐for-­‐profit   Other  
  • 53. Staff  Size   18%   32%  36%   9%   5%   1  -­‐  10   11  -­‐  50   51  -­‐  250   251  -­‐  500   501  -­‐  1,000  
  • 54. Number  of  CPAs  on  Staff   64%   36%   1   2  -­‐  5  
  • 55. Genera,ons   64%   32%   5%   '46  -­‐  '64  Boomers   '65  -­‐  '79  Gen  X   '80  -­‐  '00  Milleniels  or   Gen  Y  
  • 56. The New Normal - VUCA
  • 57. Cloud  compu,ng?   9%   36%   5%  14%   32%   5%   Completely  there   ParLally  there   In  process   Planning  on  moving   EvaluaLng   Not  interested  
  • 58. Big  Data   0   2   4   6   8   10   12   14   Other   Not  using  at  all   Benchmarking   Fraud  detecLon   Strategic  planning   ForecasLng  
  • 59. Next  Roundtable  Event…   •  Friday,  May  9,  2014   •  8:00  a.m.  to  9:40  a.m.   •  MACPA  Columbia  Center  –  Columbia,  MD   •  Two  hours  free  CPE    
  • 60. Business  &  Industry  Conference   •  April  24,  2014   •  Turf  Valley  Resort  –  Howard  County   •  8:15  a.m.  to  5:00  p.m.  
  • 61. Quarterly  Financial  Leaders  Series   •  Thursday,  May  22,  2014   •  “Smarter  Decision-­‐Making”   •  Led  by  Jennifer  Elder   •  8:00  a.m.  to  12:00  p.m.  –  4  Hours  CPE   •  MACPA  Offices  -­‐  Towson,  Maryland  
  • 62. CPA  Innova,on  Summit   • Monday,  June  16,  2014   • Hyae  Regency-­‐  Bal,more   • 8:00  a.m.  to  5:30  p.m.  
  • 63. Regulations & Standards

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