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MACPA Business & Industry Roundtable - August 2011
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MACPA Business & Industry Roundtable - August 2011

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What's keeping financial professionals up at night? MACPA got 30+ CFOs, controllers and other financial professionals from NFPs & Gov't together in a roundtable. …

What's keeping financial professionals up at night? MACPA got 30+ CFOs, controllers and other financial professionals from NFPs & Gov't together in a roundtable.

They heard from AICPA's Board member, Tom Foard (also a CFO) and MACPA's incoming chair, Anoop Mehta (also a CFO) and MACPA's chair of Biz/Ind, Joselin Martin (also a CFO) and then worked to identify the biggest issues and what MACPA can do to help.

Published in Business , Economy & Finance
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  • 1. Business & Industry Roundtable August 18, 2011 MACPA Towson CPA Center
  • 2. Agenda• Welcome & Introductions – Anoop Mehta, Incoming Chair & Tom Hood, CEO• History of the B&I Committee – Tom Foard – MACPA Past Chair• National B&I Perspective – Tom Foard – past chair AICPA BIEC & member AICPA BOD• Maryland Future Forums – Top Trends to Watch – Joselin Martin – Chair MACPA B&I Committee• What’s keeping you up – trends & issues?• What can MACPA Do to help?
  • 3. National View – Tom FoardFinancial Reporting• International Financial Reporting Standards• Private Company Financial ReportingEnterprise Risk Management• Corportate Governance, Risk Management, Internal Control• COSO Internal Control – Integrated Framework ProjectSustainability• Triple Bottom Line (People, Planet, Profits)• Services (Accounting, Reporting, Assurance)Enhancing Member Value – Joint Venture Between AICPA and CIMA• Chartered Global Management Accountant (CGMA)• Advance the Science of Management Accounting
  • 4. MACPA Future Forums -Top 10 Trends - Joselin Martin1. Pressures on Gov’t & rising deficit2. Changes in learning – informal & on-demand3. The cloud = flex, global, work anywhere4. Increasing complexity, ambiguity & change5. Globalization and economic shifts6. Information overload7. Shift to consumer power (push to pull)8. Workforce, demographics, the “she” economy9. Going mobile10. Social media = business
  • 5. What stuck out for you?
  • 6. MBSN! _ Management by sticky notes
  • 7. History of MACPA BizInd Commitee
  • 8. Some Great Ideas!
  • 9. What’s keeping you up at night?
  • 10. Top 10 Issues Facing BizInd1. Communicating effectively (new tools vs face to face)2. Talent – Training – Succession Planning3. Economic environment4. Generational – Work/Life balance5. Supply chain – rising costs6. Strategic planning in uncertainty7. Financial literacy about business8. Increasing government regulations9. IT security / privacy10. Multi-tasking and increasing workload
  • 11. What can MACPA do to help? The group identified areas that MACPA could help CFOs, controllers and financial professionals deal with the pressing issues. One major idea was to have quarterly roundtables focused on one of these main issues with a facilitated discussion afterwards. Most of the key issues were already being dealt with by MACPA. The group emphasized the importance of continued advocacy at the federal, state, and state board areas.
  • 12. RefelctionsThere is a certain felling of relief when you know that you are facing the same issuesas others in your Profession. That was definitely the feeling at the end of thisroundtable. It was almost therapeutic having engaging discussions with otherfinancial professionals.
  • 13. Key events & datesGovernment Contractor’s Conference - Sept 20, 2011 -GaithersburgTechnology Conference - October 3, 2011 - LinthicumCPA Day in Annapolis - Jan 18, 2012 -AnnapolisBusiness & Industry Conference - April 20, 2012 -Ellicott CityMACPA CPA Summit - June 11&12, 2012 - BWI
  • 14. Links • Strategic Planning – http://www.bizlearning.net/live/i2astrategicplanning • Future Forums – http://www.bizlearning.net/live/i2afutureforums – Leadership Development – http://www/bizlearning.net/live/i2aleadership • Customized Training – http://www.bizlearning.net/learningcenter/ • Search our Catalog – http://www.bizlearning.net/learningcenter/customizedtr aining/BLI_catalog.cfm
  • 15. Tom Hood, CPA.CITP CEO Maryland Association of CPAs Business Learning Institute (443) 632-2301 E-mail tom@macpa.org Web http://www.macpa.orgBlog http://www.cpasuccess.comhttp://www,bizlearningblog.com
  • 16. = Leadership blogs: www.cpasuccess.com www.bizlearningblog.comFollow me on: Twitter: http://www.Twitter.com/tomhood LinkedIn: http://www.linkedin.com/in/tomhood Facebook: http://www.facebook.com/thoodcpaPlaxo: http://tomhood.myplaxo.comSlideshare: http://www.slideshare.net/thoodcpaYoutube: http://www.youtube.com/thoodcpaSecond Life avatar name: Rocky MaddaloniCheck our Customized Training Catalog out: http://www.bizlearning.net