Tom Hood, CPA, CITP, CGMA	

Montgomery County	

Community College	

October 8, 2013	

MACPA Professional Issues Update
201...
“People	
  don’t	
  buy	
  what	
  you	
  do,	
  
they	
  buy	
  why	
  you	
  do	
  what	
  you	
  do.”	
  
-­‐	
  Simon	...
Why MACPA?
3
Associations in America were seen as
unique from the foreign perspective
As soon as several of the
inhabitants of the Unit...
Where	
  were	
  you	
  on	
  January	
  16th?	
  
2014 CPA day – January 15, 2014
New	
  CPA	
  Swearing-­‐in	
  Ceremony	
  
November	
  4,	
  2013	
  BWI	
  Hilton	
  
Maryland played an important role in the
formation of the CPA Profession in the US
•  Edward Cockey
•  First President of ...
The Profession’s Associations
The Standard Setters &
Regulators
•  The American Institute of
CPAs (AICPA)
–  450,000 + mem...
A	
  profession	
  has	
  three	
  major	
  
aOributes	
  
•  A	
  disPnct	
  and	
  evolving	
  body	
  of	
  knowledge	
...
How	
  to	
  become	
  a	
  CerPfied	
  Public	
  
Accountant?	
  
	
  	
  	
  	
  	
  	
  
The	
  four	
  E’s	
  (State	
 ...
13
Business Landscape
Main Street
Owner begins to delegate
“Focus on growth”
Bu26 Million U.S. Small Businesses
Mid-Market...
The pivot of any business is not whether
it can reach consumers, it's the reality of
whether consumers, especially
connect...
• Change
• Complexity
• Compliance
• Convergence
• Competition
MANAGING THE SEA CHANGE
The Future
30 Future Forums	

1,000 CPAs	

Identified these top trends	

What CPAs think about the future	

http://www.bizlearning.net...
MANAGING THE SEA CHANGE
MACPA Professional Issues Update - 2013   Student Edition
MACPA Professional Issues Update - 2013   Student Edition
MACPA Professional Issues Update - 2013   Student Edition
MACPA Professional Issues Update - 2013   Student Edition
MACPA Professional Issues Update - 2013   Student Edition
MACPA Professional Issues Update - 2013   Student Edition
MACPA Professional Issues Update - 2013   Student Edition
MACPA Professional Issues Update - 2013   Student Edition
MACPA Professional Issues Update - 2013   Student Edition
MACPA Professional Issues Update - 2013   Student Edition
MACPA Professional Issues Update - 2013   Student Edition
MACPA Professional Issues Update - 2013   Student Edition
MACPA Professional Issues Update - 2013   Student Edition
MACPA Professional Issues Update - 2013   Student Edition
MACPA Professional Issues Update - 2013   Student Edition
MACPA Professional Issues Update - 2013   Student Edition
MACPA Professional Issues Update - 2013   Student Edition
MACPA Professional Issues Update - 2013   Student Edition
MACPA Professional Issues Update - 2013   Student Edition
MACPA Professional Issues Update - 2013   Student Edition
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MACPA Professional Issues Update - 2013 Student Edition

  1. 1. Tom Hood, CPA, CITP, CGMA Montgomery County Community College October 8, 2013 MACPA Professional Issues Update 2013 Student Edition
  2. 2. “People  don’t  buy  what  you  do,   they  buy  why  you  do  what  you  do.”   -­‐  Simon  Sinek  
  3. 3. Why MACPA? 3
  4. 4. Associations in America were seen as unique from the foreign perspective As soon as several of the inhabitants of the United States have conceived a sentiment or an idea that they want to produce in the world, they seek each other out; and when they have found each other, they unite. From then on, they are no longer isolated men, but a power one sees from afar, whose actions serve as an example; a power that speaks, and to which one listens. – Alexis de Tocqueville Alexis de Tocqueville 1835
  5. 5. Where  were  you  on  January  16th?   2014 CPA day – January 15, 2014
  6. 6. New  CPA  Swearing-­‐in  Ceremony   November  4,  2013  BWI  Hilton  
  7. 7. Maryland played an important role in the formation of the CPA Profession in the US •  Edward Cockey •  First President of AICPA •  Henry Harney •  concept of CPA •  Max Teichman •  founding member of MACPA Maryland was the third state to enact CPA legislation and first state in 1928 to restrict audits to CPAs
  8. 8. The Profession’s Associations The Standard Setters & Regulators •  The American Institute of CPAs (AICPA) –  450,000 + members •  CPA/SEA – State Executives Association •  50+ State CPA Societies •  The Maryland Association of CPAs (MACPA) –  9,000 CPAs + 3,000 students The CPA Profession Associations •  FASB •  GASB •  AICPA •  National Association of State Boards of Accountancy (NASBA) –  54 Licensing jurisdictions
  9. 9. A  profession  has  three  major   aOributes   •  A  disPnct  and  evolving  body  of  knowledge   •  A  commitment  to  the  public  interest  –   licensed  by  the  government   •  A  code  of  conduct  and  ethics   State  of  Maryland   CPA  License  
  10. 10. How  to  become  a  CerPfied  Public   Accountant?               The  four  E’s  (State  of  Maryland  Example)     1.  EducaPon  –  (150  hours)  Bachelor’s  degree  +  30   credit  hours   2.  ExaminaPon  –  Pass  the  Uniform  CPA  Exam   3.  Ethics  –  Maryland  requires  a  separate  ethics   course  and  examinaPon   4.  Experience  –  1  year  of  experience  working  with  a   CPA   And  CPE  –  -­‐  80  hours  of  ConPnuing  Professional  EducaPon   reported  every  two  (2)  years,  including  four  (4)  hours  of   ethics  training  
  11. 11. 13 Business Landscape Main Street Owner begins to delegate “Focus on growth” Bu26 Million U.S. Small Businesses Mid-Market Delegation: departments “System thinking” .6M businesses 24 million employees 3.2 million businesses 26 million employees 22 million businesses 27 million employees Personal Businesses Consumer & Business blur 0-5 Employees
  12. 12. The pivot of any business is not whether it can reach consumers, it's the reality of whether consumers, especially connected customers, wish to connect with them now and over time. The definition of creating a desirable brand now takes on an entirely new meaning. To earn the attention and business of the connected consumer, the brand, product, or service must connect with its consumer personally—emotionally and intellectually. From Push to Pull
  13. 13. • Change • Complexity • Compliance • Convergence • Competition MANAGING THE SEA CHANGE
  14. 14. The Future
  15. 15. 30 Future Forums 1,000 CPAs Identified these top trends What CPAs think about the future http://www.bizlearning.net/live/i2afutureforums
  16. 16. MANAGING THE SEA CHANGE
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