• Share
  • Email
  • Embed
  • Like
  • Save
  • Private Content
Professional Issues Update for Learning Professionals
 

Professional Issues Update for Learning Professionals

on

  • 1,505 views

What are the latest trends facing the CPA Profession? and what about the impact on the learning professionals that serve CPAs? ...

What are the latest trends facing the CPA Profession? and what about the impact on the learning professionals that serve CPAs?

This presentation is for the NE CPE 2012 Conference in Clearwater, Florida for the AICPA & State CPA Society Professional Development & CPE Directors.

Statistics

Views

Total Views
1,505
Views on SlideShare
1,502
Embed Views
3

Actions

Likes
4
Downloads
66
Comments
0

1 Embed 3

http://storify.com 3

Accessibility

Categories

Upload Details

Uploaded via as Adobe PDF

Usage Rights

CC Attribution-NonCommercial-NoDerivs LicenseCC Attribution-NonCommercial-NoDerivs LicenseCC Attribution-NonCommercial-NoDerivs License

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    Professional Issues Update for Learning Professionals Professional Issues Update for Learning Professionals Presentation Transcript

    • Professional Issues Update for CPE Professionals By: Tom Hood, CPA, CITP, CGMA 2012 North East CPE Conference February 20, 2012 Clearwater, FLMonday, February 20, 12 1
    • 2Monday, February 20, 12 2
    • What is the #1 reason organizations fail? “# 1 reason organizations fail is that they miss the weak signals of disruptive change.” – Andrew Zolli 3Monday, February 20, 12 3
    • Anticipation of a very large business model change amidst rapid change – Steve King There are two recessions – the obvious one and the not so obvious, the end of the industrial age where perfecting the model was the key. The new model will be completely different. – Seth Godin #4 Rethinking the Business Model (25) from AICPA MFG Re-Set, Re-Think, Re-Imagine - 2011Monday, February 20, 12 4
    • In our hyper-networked, mobile, social, global world, the rules and plans of yesterday are increasingly under pressure; the enterprises and individuals that will thrive will be those willing to adapt in a disciplined, unsentimental way. Generation Flux is a term that describes all of this - the chaotic business era that we have moved into - as well as the people who are poised to thrive in this environment. - Robert Safian - editor FastCompanyMonday, February 20, 12 5
    • The tornado of changes from CPA Vision Project circa 2000Monday, February 20, 12 6
    • Remember the good old days?Monday, February 20, 12 7
    • This time it is different. “What got you here, won’t get you there.” - Emmanuel Gobillot - LeadershiftMonday, February 20, 12 8
    • The idea of a hierarchy that fundamentally empowers the few and disempowers the many is more or less dead. - Gary Hamel Forbes “Command and control hierarchical structures are being disintegrated” - Danah Boyd - Microsoft Researcher 9 You ain’t seen nothing yet!Monday, February 20, 12 9
    • Monday, February 20, 12 10
    • If Content is king Context is the kingdom! - Will Avgerakis - AICPAMonday, February 20, 12 11
    • Monday, February 20, 12 12
    • 1.  Changing demographics - Aging workforce, diversity, 4 generations in the workplace 2.  Increased globalization, economic shifts and increasing competition 3.  The technological revolution - cloud, social, big data & XBRL 4.  Issues around information security, privacy & data integrity 5.  Shift to consumer and employee power (from push to pull) 6.  Changes in the way we communicate - mobile, txt, skype 7.  Work-life challenges or conflict - "do more with less", 24/7 work 8.  Information Overload - filter failure 9.  Increasing complexity of rules and standards (IFRS, GAAP, PCAOB, SEC) 10. Economic uncertainty - deficit, debt and pressure on governmentMonday, February 20, 12 13
    • Top Five Issues Facing CPA Firms (PCPS) 1. Partner Accountability 2. Bringing in New Clients 3. Retention of Current Clients 4. Fee Pressure / Pricing of Services 5. Developing a Succession PlanMonday, February 20, 12 14
    • Top$Seven$Issues$Facing$CPA$Firms$ Issues$Facing$CPA$Firms$ 1.  Succession$planning$ 2.  Accountability$and$buy>in$ 3.  Communica@on$(lack$thereof)$ 4.  Managing$millennials$ 5.  Work$/$life$balance$ 6.  Leadership$development$ 7.  Managing$change$Monday, February 20, 12 15
    • Monday, February 20, 12 16
    • Top$10$Issues$–$Maryland$CFOs$ 1.  Communica:ng$effec:vely$(new$tools$vs.$faceBtoB face)$ 2.  Talent$/$training$/$succession$planning$ 3.  Economic$environment$ 4.  Genera:onal$/$workBlife$balance$ 5.  Supply$chain$/$rising$costs$ 6.  Strategic$planning$in$uncertainty$ 7.  Financial$literacy$about$business$ 8.  Increasing$government$regula:ons$ 9.  IT$security$/$privacy$ 10. Mul:Btasking$and$increasing$workload$Monday, February 20, 12 17
    • Our new research bears out that the human dimension – relationships with customers, employees, partners and communities – will be key to getting things moving again and sustaining success over the long run. CGMA & your Business & Industry membersMonday, February 20, 12 18
    • The Letter for today is “C” • Change • Complexity • Compliance • Convergence • Cascade • Competition 19Monday, February 20, 12 19
    • Change 4x=1890 7x=1670 20Monday, February 20, 12 20
    • Complexity “the biggest challenge facing enterprises from here on will be the accelerating complexity and the 79% velocity of a world that is operating as a massively interconnected system.” 51% 21Monday, February 20, 12 21
    • The CPA Profession and CPE 6,000 pages 17,000 pages 500 Million wordsMonday, February 20, 12 22
    • How is your knowledge inventory?Monday, February 20, 12 23
    • ComplianceMonday, February 20, 12 24
    • 25 When do we think about infrastructure?Monday, February 20, 12 25
    • Professional Standards Federal Laws State Laws & & Regulations RegulationsMonday, February 20, 12 26
    • State Legislation and Regulatory • Accountancy bills (20 states) - 51 • Auditor Rotation (3 states) - 8 • Mobility (2 states) - 6 • Regulation of Tax Preparers (3 states) - 5 • Tax on Accounting Services (6 states) - 11 • Peer Review (4 states) - 7 • State Board Consolidation (6 states) 8Monday, February 20, 12 27
    • Danger 28Monday, February 20, 12 28
    • 29 Tsunami of 1099K and info returnsMonday, February 20, 12 29
    • CPAs in Tax The increase in IRS activity is swamping our tax practitioners and costing them hundreds of hours in chasing down IRS notices. 30Monday, February 20, 12 30
    • 31 ConvergenceMonday, February 20, 12 31
    • Public Private Int’l Company Company Company FinancialReporting SEC$ FASB$ IASB$ FASB$ PCFRC$ IFRS$&$SME$ Auditing AICPA$ PCAOB$ ASB,$ARSC,$PRB$ IAASB$ Ethics AICPA$ AICPA$ PEEC$ PEEC$ IFAC$ State Boards of AccountancyMonday, February 20, 12 32
    • Cascade “a series of steps or stages that, once initiated, continues to the final step because each step is triggered by the preceding one, resulting in amplification of the signal, information, or effect at each stage.”Monday, February 20, 12 33
    • 34 Sarbanes-Oxley Act of 2003Monday, February 20, 12 34
    • CPAs required to register as debt settlement advisors 35 Dodd-Frank - the bill that keeps on givingMonday, February 20, 12 35
    • 36 Cascade!Monday, February 20, 12 36
    • MACPA s Social Media Map 82,027 views 1,251 connections 450 connections 80,568 views 3,570 followers 450 members Top Accounting Blogs – 2009, 2010, 2011 Top 50 Business Blogs - 2011 34Monday, February 20, 12 37
    • The generation gap is widening "For Gen Y, training and development is the most highly valued employee benefit. The number choosing training and development as their first choice of benefit is THREE times higher than those who chose cash bonuses."Monday, February 20, 12 38
    • 39 “You can’t stop the waves, but you can learn to surf” - Jon Kabat-ZinnMonday, February 20, 12 39
    • The Letter for today is still “C” • Continuous Learning • Collaboration • Competencies = Career Success! 40Monday, February 20, 12 40
    • 41 Picture: John Drake - Flickr “...where the most important skill is the ability to acquire new skills.”Monday, February 20, 12 41
    • It really is about this... 2"Monday, February 20, 12 42
    • 3 Critical Workforce Priorities 1.Rapidly developing workforce skills and capabilities 2.Fostering collaboration & knowledge sharing 3.Developing future leaders 43Monday, February 20, 12 43
    • Monday, February 20, 12 44
    • According to these young professionals, the future is one in which CPAs: ● are proactive, flexible, adaptive and collaborative by nature; ● have regained the trust of their clients and the public at large; ● have successfully bridged the profession’s “leadership gap” by focusing on succession planning, personal growth, and generational cooperation; ● have created the profession’s premier global industry standards and best practices; ● have redefined the profession through work / life integration, collaboration, and a team-first approach; and ● have earned a reputation as technological 45 innovators. Wisdom from the MACPA Leadership AcademyMonday, February 20, 12 45
    • Monday, February 20, 12 46
    • “The organizations that will become the household names of this century will be renowned for sustained, large-scale, efficient innovation. The key to that capability is neither company loyalty nor free-agent autonomy but, rather, a strong collaborative community.” 47 HBR, July-August 2011 The collaboration curve replaces the experience curveMonday, February 20, 12 47
    • How to increase your Complexipacity 1.Improved forecasting methods 2.Better risk mitigation 3.Making tradeoffs 4.Ensuring diversity of thought (collaboration) 48Monday, February 20, 12 48
    • ■ Companies increase training to fill skill gaps ■ Training groups gain efficiencies ■ Extending the reach of the training organization ■ Changing roles with the L&D function ■ Making it stick - reinforcement ■ Social learning becomes mainstream ■ Outsourcing for efficiency 49 Trends in Learning & DevelopmentMonday, February 20, 12 49
    • Training Spending is back on the riseMonday, February 20, 12 50
    • Our$Challenge$ New$Compe//on$ Tradi/onal$ Training$ E2Learning$ 25%$ Google$search$for$CPE$shows$ 42,500,000$results$1,260,000$ in$Maryland$alone!$Monday, February 20, 12 51
    • Our$Distribu*on$Channels$ e4 Public$ On4site$ Learning$Monday, February 20, 12 52
    • MACPA%&%BLI%*%CPE%Course%Revenue%by%Fiscal%Year% !3,000!! !2,500!! !2,000!! Public!Course!Revenue! !1,500!! In"House!Course!Revenue! Webcast!Revenue! !1,000!! e"learning! !500!! !"!!!! 2001! 2002! 2003! 2004! 2005! 2006! 2007! 2008! 2009! 2010! 2011!Monday, February 20, 12 53
    • Haven’t we been here before? 1992 2001 CPE$Profession$–$Training$0Environmental$Scan$ 2001 2006 2009 2011Monday, February 20, 12 54
    • 1. Ask the naive question 2. Be the house (measure, odds, risk) 3. A willingness to try anything 4. look around (especially outside) 5. Confidence matters - Paul DePodesta - VP of Player believe in yourself Development for the New York Mets formerly Asst GM of Oakland A’s 55 Adopt a moneyball mindsetMonday, February 20, 12 55
    • 56Monday, February 20, 12 56
    • 1.Providing a unique interface between members of the organization 2.Delivering unique creativity 3.Managing a situation or organization of great complexity 4.Leading customers 5.Inspiring staff 6.Providing deep domain knowledge 7.Possessing a unique talent 57 Become a LinchpinMonday, February 20, 12 57
    • A leader’s job is to provide hope and inspiration... 58Monday, February 20, 12 58
    • Tom Hood CPA, CITP. CGMA CEO Business Learning Institute Maryland Association of CPAs http://www.bizlearning,net (800) 888-481-3500 tom@bizlearning.net Follow 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 MaddaloniMonday, February 20, 12 59