Social Media for Accounting - Student Edition

Social Media & Accoun/ng Student Edi/on Loyola University Tom Hood, CPA.CITP.CGMA CEO Maryland Associa/on of CPAs Business Learning Ins/tute

The single most important trend in the world today "It starts with the fact that globalization and the information technology revolution have gone to a whole new level. Thanks to cloud computing, robotics, 3G wireless connectivity, Skype, Facebook, Google, LinkedIn, Twitter, the iPad, and cheap Internet-enabled smartphones, the world has gone from connected to hyper-connected.” - Thomas Friedman NY Times author The World is Flat

The challenge is how to position our organizations for L > C “To keep pace in your L>C industry, let alone as aleader, requires your rate of LEARNING to begreater than, or equal to, the rate of CHANGE.”

Why students should care about Social Media “In-‐forming is the individual persons analog to open-‐sourcing, outsourcing, insourcing, supply-‐chaining, and oﬀshoring. Informing is the ability to build and supply your own personal supply chain—a supply chain of informa8on, knowledge, and entertainment. In-‐ forming is about self-‐collabora8on— becoming your own self-‐directed and self-‐ empowered researcher, editor, and selector of entertainment. – Thomas Friedman

Bill Tom MACPA s Journey

MACPA’s Social Media Map82,027 views 1,251 connections 450 connections80,568 views 3,570 followers 450 members Top Accounting Blogs – 2009, 2010, 2011 Top 50 Business Blogs - 2011 34

Ten things to know about Social Media? 1.  Thought Leadership (Jody Padar example) 2.  Engagement with more members and shared insights (AICPA Leadership Academy) 3.  Real Time Focus group 4.  Communica/on and connec/ng your organiza/on (Marrio Story & MACPA CFO Conference) 5.  MACPA uses of social media 6.  The Power of Blogging 7.  Case Studies (Connec/ng to Thought Leaders, Connec/ng to Members – Books, MACPA Beach Retreat & NE CPE Conference) 8.  Top Ten (Social) Learning Technologies 9.  Risk Management 10. It is bigger than you think – Social Business

Success in a Connected World

Thought Leadership

Social Media Engages & Shares Insights The twier stream from AICPA Leadership Academy 35

Social Media connects us to thought leaders

Real Time Focus Group Example of using Twier to get immediate real /me feedback for this preso

Advice for today

The Marrio Story “Bill’s blog makes me feel connected to the organiza7on in a way I had not felt before. I feel more informed and closer to the organiza7on than ever before.” – from a Marrio Finance Team member during an MACPA Professional Issues update at their HQ in Bethesda, MD ]. What if you could keep your organiza/on informed and inspired by your thoughts?

Three authors ReTweeted this blog post which men/oned their books… hp://www.cpasuccess.com/2012/01/the-‐top-‐ten-‐business-‐books-‐of-‐2011.html

Case Study – MACPA Beach Retreat The next three slides show the way you can use social media to engage a broader audience and create a resource for par/cipants. 1.  Post preso on www.slideshare.net 2.  Embed it and other resources and links in your blog post 3.  Tweet it out and use the @name of people men/oned 4.  Let the conversa/on con/nue!

Follow the links How social media can be used for leadership & learning •  Live session at MACPA Beach Retreat •  Video interview w/ Emmanuel Gobillot, author of Leadershim hp://youtu.be/3nUhFut5CjM •  Post preso on www.slideshare.net hp://dld.bz/afX8M •  Blog post about Beach Retreat session on www.cpasuccess.com hp://dld.bz/afX2K •  Blog sends out tweet hp://dld.bz/agc52 men/ons example from class twier handles •  Tom Peters responds hp://dld.bz/agc5U •  Emmanuel Gobillot responds on Twier hp://dld.bz/agc6v •  And on www.bizlearningblog.com w/ comment hp://dld.bz/agc6C •  And involved Joe Boue hp://dld.bz/agc6Q •  And featured by Dr. Steve Hornik (UCF – Accoun/ng) hp://dld.bz/agc8f

The post was even featured in an accoun/ng educator’s “daily” distributed to his followers. http://dld.bz/agc8f Featured our blog post

Social Media to engage & connect at the NE CPE conference Another example of using social media to engage a broader audience. In this case I used twier to get feedback from CPAs about the use of social media in learning. It also informed CPAs about the NE CPE Conference so they “heard” that we were working hard to improve the learning for them. The followed up with a blog post about the event and got more engagement with comments from the group.

Twier during the event, slideshare & blog post-‐event

Top Ten Learning Technologies 1. Twier – micro-‐upda/ng tool 2. YouTube – video hos/ng and sharing tool 3. GoogleDocs – online collabora/on tool 4. Delicious – social bookmarking tool 5. Slideshare – presenta/on hos/ng and sharing tool 6. Skype – instant messaging and VoIP call tool 7. Google Reader – RSS feed reader 8. Wordpress – blogging tool 9. Facebook – social networking site 10. Moodle – course management system Social Learning is quickly emerging as a major use of social media and a way to engage deeper with our members and par/cipants. Source: www.C4LPT.co.uk

Risk Management Don’t let this happen to you This is the biggest fear of social media. You can mi/gate this fear with training and a good policy. MACPA’s social media policy incorporates the Code of Ethics of the CPA Profession and our State Board of Accountancy into the best of breed policy from IBM. On the next slide.

hp://www.macpa.org/Content/25247.aspx

It’s Bigger Than You Think – Social Organiza/ons From: To: Hierarchy Network Command & Control Connect & Collaborate Experience Curve Collabora/on Curve Lecturer Facilitator Push Pull

Where to from here? “I don’t think it’s crazy to ask if your CEO is the next Mubarak” -‐ Gary Hamel

Are you a social business? “A Social Business isn’t just a company that has a Facebook page and a TwiMer account. A Social Business is one that embraces and cul7vates a spirit of collabora7on and community throughout its organiza7on—both internally and externally.” hp://www.ibm.com/blogs/zz/en/

Five Ways to Get started… 1.  Create your digital footprint (Linked-‐In, Facebook, Google +, Twier, blog) 2.  Start listening (use google reader and twier to start listening) 3.  Make friends (build your network and follow on twier) 4.  Create & Share (join the conversa/on by commen/ng, Retwee/ng, and start a blog) 5.  Recognize & Reciprocate (always recognize and aribute other’s work)

Some star/ng points •  Michelle Golden (Golden Prac/ces; hp://goldenmarke/ng.typepad.com) •  Paul Caron (TaxProf; hp://taxprof.typepad.com) •  Caleb Newquist & Adrienne Gonzalez (Going Concern; hp://goingconcern.com) •  Rick Telberg (CPA Trendlines; hp://cpatrendlines.com) •  Francine McKenna (re: The Auditors; hp://retheauditors.com) •  David Albrecht (The Summa; hp://profalbrecht.wordpress.com) •  Tax Policy Center (Tax Vox; hp://taxvox.taxpolicycenter.org) •  Tax Founda/on (Tax Policy; www.taxfounda/on.org /blog) •  Tom Hood and Bill Sheridan (CPA Success; www.cpasuccess.com) •  Blumer CPAs/THRIVEal hp://blumercpas.com/blog •  Kelly Phillips Erb Tax Girl hp://blogs.forbes.com/kellyphillipserb •  Tom Selling The Accoun/ng Onion hp://accoun/ngonion.typepad.com •  Jody Padar -‐ Accoun/ng Tomorrow hp://www.accoun/ngtoday.com/acto_blog/ •  Jeﬀ Drew – Another71 (CPA Exam blog) hp://www.another71.com/

More Resources CPA Success posts about social media hp://www.cpasuccess.com/social-‐media/ Self-‐directed learning guide – 15 min a day hp://www.cpalearning2.com/ Can Social Media Help You Learn? hp://cpa.tc/sociallearn Making Social Media Work for You hp://www.journalofaccountancy.com/Mul/media/TomHood.htm Social Media for Learning hp://cpa.tc/sociallearn Social Media for CPAs and CEOs – interviews & stories hp://cpa.tc/social How to Leverage Social Media – Journal of Accountancy hp://cpa.tc/8u

Recommended Reading •  The Corporate Blogging Book by Debbie Weil •  Crush-‐It by Gary Vaynerchuk •  The Whuﬃe Factor by Tara Hunt •  Here Comes Everybody by Clay Shirky •  Social Media Strategies for Professionals and Their Firms by Michelle Golden •  Switch: How to Change When Change is Hard – Chip & Dan Heath •  Escaping Velocity by Geoﬀrey Moore

Follow me on: Tom Hood, CPA.CITP   Twier: hp://www.Twier.com/tomhood CEO   LinkedIn: hp://www.linkedin.com/in/tomhood Maryland Associa8on of CPAs Business Learning Ins8tute   Facebook: hp://www.facebook.com/thoodcpa (443) 632-‐2301  Plaxo: hp://tomhood.myplaxo.com E-‐mail tom@macpa.org Web hQp://www.macpa.org  Slideshare: hp://www.slideshare.net/thoodcpa Blog hQp://www.cpasuccess.com  Youtube: hp://www.youtube.com/thoodcpa Blog hQp://www.bizlearningblog.com  Second Life avatar name: Rocky Maddaloni

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Social Media for Accounting - Student Edition

by Tom Hood on Jul 24, 2012

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