Social Media for Accounting - Student Edition


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Why is social media important for CPAs? and how can accounting students jumpstart their careers by developing their own brand and set of digital footprints? Tom Hood discusses the latest trends and uses with an accounting class at Loyola University (Baltimore).

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Social Media for Accounting - Student Edition

  1. Social  Media  &  Accoun/ng   Student  Edi/on   Loyola  University   Tom  Hood,  CPA.CITP.CGMA   CEO   Maryland  Associa/on  of  CPAs   Business  Learning  Ins/tute  
  2. 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
  3. 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.”
  4. 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  
  5. Bill Tom MACPA s Journey
  6. 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
  7. 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  
  8. Success  in  a  Connected  World  
  9. Thought  Leadership  
  10. Social  Media  Engages  &  Shares  Insights   The  twier  stream  from  AICPA  Leadership  Academy   35
  11. Social  Media  connects  us  to  thought  leaders  
  12. Real  Time  Focus  Group  Example  of  using  Twier  to  get  immediate  real  /me  feedback  for  this  preso  
  13. Advice  for  today  
  14. 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?  
  15. Three  authors  ReTweeted  this  blog  post  which  men/oned  their  books…   hp://­‐top-­‐ten-­‐business-­‐books-­‐of-­‐2011.html    
  16. 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  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!  
  17. 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://  •  Post  preso  on  hp://  •  Blog  post  about  Beach  Retreat  session  on     hp://  •  Blog  sends  out  tweet  hp://  men/ons  example  from   class  twier  handles  •  Tom  Peters  responds  hp://  •  Emmanuel  Gobillot  responds  on  Twier  hp://  •  And  on  w/  comment  hp://  •  And  involved  Joe  Boue  hp://  •  And  featured  by  Dr.  Steve  Hornik  (UCF  –  Accoun/ng)   hp://  
  18. The  post  was  even  featured  in  an  accoun/ng  educator’s  “daily”  distributed  to  his  followers. Featured   our  blog   post  
  19. 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.      
  20. Twier  during  the  event,  slideshare  &  blog  post-­‐event  
  21. 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:  
  22. 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.  
  23. hp://    
  24. 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  
  25. Where  to  from  here?   “I  don’t  think  it’s   crazy  to  ask  if   your  CEO  is  the   next  Mubarak”    -­‐    Gary  Hamel  
  26. 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://    
  27. 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)  
  28. Some  star/ng  points  •  Michelle  Golden  (Golden  Prac/ces;  hp://goldenmarke/  •  Paul  Caron  (TaxProf;  hp://  •  Caleb  Newquist  &  Adrienne  Gonzalez  (Going  Concern;  hp://  •  Rick  Telberg  (CPA  Trendlines;  hp://  •  Francine  McKenna  (re:  The  Auditors;  hp://  •  David  Albrecht  (The  Summa;  hp://  •  Tax  Policy  Center  (Tax  Vox;  hp://  •  Tax  Founda/on  (Tax  Policy;  www.taxfounda/  /blog)  •  Tom  Hood  and  Bill  Sheridan  (CPA  Success;  •  Blumer  CPAs/THRIVEal  hp://  •  Kelly  Phillips  Erb  Tax  Girl  hp://  •  Tom  Selling  The  Accoun/ng  Onion  hp://accoun/  •  Jody  Padar  -­‐  Accoun/ng  Tomorrow  hp://www.accoun/  •  Jeff  Drew  –  Another71  (CPA  Exam  blog)  hp://      
  29. More  Resources  CPA  Success  posts  about  social  media  hp://­‐media/  Self-­‐directed  learning  guide  –  15  min  a  day  hp://  Can  Social  Media  Help  You  Learn?  hp://  Making  Social  Media  Work  for  You  hp://  Social  Media  for  Learning  hp://  Social  Media  for  CPAs  and  CEOs  –  interviews  &  stories  hp://  How  to  Leverage  Social  Media  –  Journal  of  Accountancy  hp://    
  30. 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  
  31. Follow  me  on:  Tom  Hood,  CPA.CITP      Twier:  hp://  CEO      LinkedIn:  hp://  Maryland  Associa8on  of  CPAs  Business  Learning  Ins8tute      Facebook:  hp://  (443)  632-­‐2301    Plaxo:  hp://  E-­‐mail  Web  hQp://    Slideshare:  hp://  Blog  hQp://    Youtube:  hp://  Blog  hQp://      Second  Life  avatar  name:  Rocky  Maddaloni