0
MACPA	

beach retreat recap	

Sage vision to strategy workshop	

July 2-5, 2014	

Clarion Conference Center	

Ocean City, ...
Tom Hood, CPA, CITP, CGMA!
Tom Hood, CPA, CITP, CGMA
CEO
MACPA www.macpa.org
and
Business Learning Institute (BLI)
www.bli...
The Challenge
What is the #1 reason organizations fail?
Sage vision to strategy workshop	

This workshop is designed to guide participants through a strategic
planning process th...
What does the world Really want
from us, next?	

•  In other words, what opportunities
unfold if you put yourself in servi...
Working on their future
The top Trends	

Here are the key trends identified by the workshop group, which they used to check their individual thinki...
The 'v' word	

Vision	

We pulled our values from our history	

And referred to Simon Sinek for our
Purpose or 'Why'	

We ...
Everyone left with a vision, strategy, and action plan	

And a big thank you to Sage for sponsoring this program!
State of the accounting profession	

Mark Koziel - AICPA VP	

Tom Hood - MACPA CEO
American Institute of CPAs® Private Companies Practice Section
2013PCPSCPAFirmTopIssues
FIRMS	
  WITH	
  6-­‐10	
  PROFESS...
American Institute of CPAs® Private Companies Practice Section
SOLE	
  PRACTITIONERS	
  
2013	
   2011	
   2009	
   2007	
...
American Institute of CPAs® Private Companies Practice Section
FIRMS	
  WITH	
  2-­‐5	
  PROFESSIONALS	
  
2013	
   2011	
...
American Institute of CPAs® Private Companies Practice Section
FIRMS	
  WITH	
  6-­‐10	
  PROFESSIONALS	
  
2013	
   2011	...
American Institute of CPAs® Private Companies Practice Section
FIRMS	
  WITH	
  11-­‐20	
  PROFESSIONALS	
  
2013	
   2011...
American Institute of CPAs® Private Companies Practice Section
FIRMS	
  WITH	
  21+	
  PROFESSIONALS	
  
2013	
   2011	
  ...
American Institute of CPAs® Private Companies Practice Section
PCPS CPA Firm Top Issues
! Succession, succession, successi...
American Institute of CPAs® Private Companies Practice Section
Professional issues & initiatives
! Advocacy
•  Fed/State L...
The Shift Change	

1.  Leadership!
2.  Learning!
3.  Technology!
4.  Generations!
5.  Workplace!
Top challenges	

After the updates by Tom and Mark, the group
identified the major challenges as follows:	

1.  Keeping up ...
Tom	
  Hood,	
  CPA.CITP	
  
CEO	
  
Maryland	
  AssociaUon	
  of	
  CPAs	
  
Business	
  Learning	
  InsUtute	
  
(443)	
...
MACPA Beach Retreat 2014 Recap
MACPA Beach Retreat 2014 Recap
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MACPA Beach Retreat 2014 Recap

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Sage Vision to Strategy Workshop & State of Accounting Profession session recaps from the 2014 MACPA Beach Retreat in Ocean City, Maryland.

The Sage Vision to Strategy Workshop hosted by Ned Campbell of Sage and facilitated by Pam Devine and Tom Hood of MACPA's Business Learning Institute. This session provided a workbook based on the i2a: Insights to Action Strategic Planning Process for a group of small CPA firms to develop a vision, strategy and plan for action.

The State of Accounting session featured updates from Mark Koziel, AICPA VP and Tom Hood, CEO of MACPA. Mark and Tom then facilitated a working session to identify the top challenges facing the group.

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Transcript of "MACPA Beach Retreat 2014 Recap"

  1. 1. MACPA beach retreat recap Sage vision to strategy workshop July 2-5, 2014 Clarion Conference Center Ocean City, MD
  2. 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. 3. The Challenge
  4. 4. What is the #1 reason organizations fail?
  5. 5. Sage vision to strategy workshop This workshop is designed to guide participants through a strategic planning process that creates a vision for their future firm or career based on hindsight (history), foresight (future trends), and insight. Participants come away with an action plan and next steps to implement their plan.
  6. 6. What does the world Really want from us, next? •  In other words, what opportunities unfold if you put yourself in service to and take your direction from the people in the world you most want to succeed and who most want you to succeed? •  What do the underlying trends suggest could be possible future states? •  Where is there a small but growing trend and where is there opportunity?
  7. 7. Working on their future
  8. 8. The top Trends Here are the key trends identified by the workshop group, which they used to check their individual thinking against, given them the wisdom of the crowd.
  9. 9. The 'v' word Vision We pulled our values from our history And referred to Simon Sinek for our Purpose or 'Why' We used Jim Collins vision framework from 'Built to Last' to explain the two components of a vision. The core ideology rarely changes, while the envisioned future changes with the environment.
  10. 10. Everyone left with a vision, strategy, and action plan And a big thank you to Sage for sponsoring this program!
  11. 11. State of the accounting profession Mark Koziel - AICPA VP Tom Hood - MACPA CEO
  12. 12. American Institute of CPAs® Private Companies Practice Section 2013PCPSCPAFirmTopIssues FIRMS  WITH  6-­‐10  PROFESSIONALS   FIRMS  WITH  11-­‐20   PROFESSIONALS   FIRMS  WITH  21+  PROFESSIONALS   1 SUCCESSION  PLANNING   1 BRINGING  IN  NEW  CLIENTS   1 PARTNER  ACCOUNTABILITY  &  UNITY   2 FINDING  QUALIFIED  STAFF     2 FINDING  QUALIFIED  STAFF     2 BRINGING  IN  NEW  CLIENTS   3 BRINGING  IN  NEW  CLIENTS   3 SUCCESSION  PLANNING   3 RETAINING  QUALIFIED  STAFF   4 RETAINING  QUALIFIED  STAFF   4 RETAINING  QUALIFIED  STAFF   4 SUCCESSION  PLANNING   5 PARTNER  ACCOUNTABILITY  &  UNITY   5 RETENTION  OF  CURRENT  CLIENTS     5 FINDING  QUALIFIED  STAFF     SOLE  PRACTITIONERS   1 KEEPING  UP  WITH  CHANGES  AND   COMPLEXITY  OF  TAX  LAWS   2 BRINGING  IN  NEW  CLIENTS   3 SEASONALITY/WORKLOAD   COMPRESSION   4 RETENTION  OF  CURRENT  CLIENTS     5 THE  EFFECT  ON  FIRMS  OF  NEW  FED  &   STATE  REGULATION  AND  INCREASING   COSTS  TO  COMPLY   FIRMS  WITH  2-­‐5  PROFESSIONALS   1 KEEPING  UP  WITH  CHANGES  AND   COMPLEXITY  OF  TAX  LAWS   2 SUCCESSION  PLANNING   3 FINDING  QUALIFIED  STAFF     4 BRINGING  IN  NEW  CLIENTS     5 SEASONALITY/WORKLOAD   COMPRESSION  
  13. 13. American Institute of CPAs® Private Companies Practice Section SOLE  PRACTITIONERS   2013   2011   2009   2007   1 Keeping  up  with  changes   and  complexity  of  tax  laws   Keeping  up  with  changes   and  complexity  of  tax  laws   RetenUon  of  current  clients   Tax  complexity  and  change   2 Bringing  in  new  clients   RetenUon  of  current  clients   Keeping  up  with  changes   and  complexity  of  tax  laws   The  effect  on  firms  caused   by  new  regulaUons  and   standards   3 Seasonality/workload   compression   Bringing  in  new  clients   The  effect  on  firms  caused   by  new  regulaUons  and   standards   Keeping  up  with  standards   4 RetenUon  of  current  clients   Keeping  up  with  accounUng   and  a[est  standards   Keeping  up  with  standards   Keeping  up  with  technology   5 The  effect  on  firms   caused  by  new  federal   and  state  regulaUons   Seasonality/workload   compression   Work/life  balance  iniUaUves   Work/life  balance  iniUaUves   14 PCPS CPA Firm Top Issues
  14. 14. American Institute of CPAs® Private Companies Practice Section FIRMS  WITH  2-­‐5  PROFESSIONALS   2013   2011   2009   2007   1 Keeping  up  with  changes   and  complexity  of  tax  laws   Bringing  in  new  clients   RetenUon  of  current  clients   Finding  qualified  staff   2 Succession  planning   RetenUon  of  current  clients   Keeping  up  with  changes   and  complexity  of  tax  laws   The  effect  on  firms  caused   by  new  regulaUons  and   standards   3 Finding  qualified  staff   Keeping  up  with  changes   and  complexity  of  tax  laws   The  effect  on  firms  caused   by  new  regulaUons  and   standards   Tax  complexity  and  changes   4 Bringing  in  new  clients   Seasonality/workload   compression   Keeping  up  with  standards   Keeping  up  with  standards   5 Seasonality/workload   compression   Keeping  up  with  accounUng   and  a[est  standards   Work/life  balance  iniUaUves   Retaining  qualified  staff   15 PCPS CPA Firm Top Issues
  15. 15. American Institute of CPAs® Private Companies Practice Section FIRMS  WITH  6-­‐10  PROFESSIONALS   2013   2011   2009   2007   1 Succession  planning   Bringing  in  new  clients   RetenUon  of  current  clients   Finding  qualified  staff   2 Finding  qualified  staff   RetenUon  of  current  clients   Retaining  qualified  staff   The  effect  on  firms  caused   by  new  regulaUons  and   standards   3 Bringing  in  new  clients   Retaining  qualified  staff   The  effect  on  firms  caused   by  new  regulaUons  and   standards   Retaining  qualified  staff   4 Retaining  qualified  staff   Keeping  up  with  changes   and  complexity  of  tax  laws   Keeping  up  with  changes   and  complexity  of  tax  laws   Keeping  up  with  standards   5 Owner/partner   accountability   and  unity   Fee  pressure/pricing   of  services   Bringing  in  new  clients   Succession  planning   16 PCPS CPA Firm Top Issues
  16. 16. American Institute of CPAs® Private Companies Practice Section FIRMS  WITH  11-­‐20  PROFESSIONALS   2013   2011   2009   2007   1 Bringing  in  new  clients   Bringing  in  new  clients   RetenUon  of  current  clients   Finding  qualified  staff   2 Finding  qualified  staff   Owner/  partner   accountability  and  unity   The  effect  on  firms  caused   by  new  regulaUons  and   standards   The  effect  on  firms  caused   by  new  regulaUons  and   standards   3 Succession  planning   RetenUon  of  current  clients   Retaining  qualified  staff   Retaining  qualified  staff   4 Retaining  qualified  staff   Succession  planning   Bringing  in  new  clients   Keeping  up  with  standards   5 RetenUon  of  current  clients   Finding  qualified  staff   Keeping  up  with  standards   Succession  planning   17 PCPS CPA Firm Top Issues
  17. 17. American Institute of CPAs® Private Companies Practice Section FIRMS  WITH  21+  PROFESSIONALS   2013   2011   2009   2007   1 Owner/partner   accountability  and  unity   Owner/partner   accountability  and  unity   RetenUon  of  current  clients   Finding  qualified  staff   2 Bringing  in  new  clients   Bringing  in  new  clients   Owner/partner   accountability  and  unity   Retaining  qualified  staff   3 Retaining  qualified  staff   RetenUon  of  current  clients   Succession  planning   Developing  new  partners   4 Succession  planning   Fee  pressure/pricing  of   services   Bringing  in  new  clients   Work/life  balance  iniUaUves     5 Finding  qualified  staff   Succession  planning   Retaining  qualified  staff   (1)  Management  of   human  resources   (2)  Seasonality/workload   compression   18 PCPS CPA Firm Top Issues
  18. 18. American Institute of CPAs® Private Companies Practice Section PCPS CPA Firm Top Issues ! Succession, succession, succession ! Client retention and client acquisition remain a priority ! Human capital concerns are back — finding and retaining qualified staff are in the top five for all firm sizes with more than two professionals ! Keeping up with tax laws and workload compression are the biggest concerns for small firms ! Owner/partner accountability and unity remain issues for larger firms 19
  19. 19. American Institute of CPAs® Private Companies Practice Section Professional issues & initiatives ! Advocacy •  Fed/State Legislation & Regulation •  Government Fiscal Responsibility •  Tax •  Uniformity & Mobility •  Public Policy Issues ! People •  CPA Exam •  Young CPAs •  Student Recruitment •  Diversity & Inclusion •  Learning & Education ! International •  IFRS •  ISAs •  CGMA ! International CPA Exam ! Financial Literacy ! Prof. Excellence & Public Interest •  Tax Preparer Registration •  FRF for SMEs •  Integrated Reporting •  Sustainability •  SOC Reports •  Private Companies Practice Section •  Center for Plain English Accounting •  Audit Quality •  Peer Review & Ethics •  Specialized Communities & Credentials •  Business, Industry & Government ! CPA Reputation ! Competition & Risk ! Operational Excellence
  20. 20. The Shift Change 1.  Leadership! 2.  Learning! 3.  Technology! 4.  Generations! 5.  Workplace!
  21. 21. Top challenges After the updates by Tom and Mark, the group identified the major challenges as follows: 1.  Keeping up with technology 2.  Succession planning 3.  Staff development 4.  Regulations & Tax 5.  Communication
  22. 22. Tom  Hood,  CPA.CITP   CEO   Maryland  AssociaUon  of  CPAs   Business  Learning  InsUtute   (443)  632-­‐2301   E-­‐mail  tom@macpa.org   Web  h[p://www.macpa.org   Blog  h[p://www.cpasuccess.com    
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