This document summarizes a presentation given to accounting students on the future of the CPA profession. It discusses trends identified by CPAs, including change, complexity, compliance and competition. The top challenges for young professionals are also outlined. The core purpose of CPAs is defined as "making sense of a changing and complex world". CPAs are envisioned to be trusted professionals who help people and organizations shape their future by providing clarity, translating complex information, anticipating opportunities, and designing pathways to transform visions into reality.
This presentation was supporting a speech at WCEIT 2012 -- the World Conference on Emerging InfoTech -- Dalian (China), August 2012. I am well aware that the presentation material, without the accompanying speech, may be a bit cryptic at times. Also, comments and questions are welcome at @cdn
What is the biggest question for anyone looking to dramatically increase their success...
How do I harness my knowledge, experience and networks to drive important decisions or solve problems?
What if you could gain the productive and telling insights to drive better, faster, more relevant decisions and solve problems in a simple, visually engaging way?
This presentation was given at the 2011 GeoMunich conference "Fragile Earth". It is also a suplement for the 2011 AGU Fall Meeting Poster presentation "Communicating Complex Sciences by Means of Exhibitions"
Maryland Association of CPAs special edition town hall / Professional Issues Update for Business, Industry, Education, Government & NFP CPAs. Delivered to 200+ CFOs, Controllers, CPA Decision-makers on March 21, 2012 in Timonium, Maryland.
Special town hall / Professional Issues Update to discuss results of CPA Horizons 2025 Project. This interactive format included the results from CPA Horizons future forums facilitated by Tom Hood and the Business Learning Institute during the spring and summer of 2011. Over 1,000 CPAs were engaged in conversations about the future.
CPA Vision on a page created for the AICPA by the Business Learning Institute.
Horizons 2025 Future Forums were conducted in 8 cities across the US using their i2a: Insights to Action Strategic Thinking System. This document was used to explain the original CPA Vision that was checked against the future trends developed by grassroots CPAs
CPA Vision 2025 - Vision of CPA in the future with Vision, Purpose, Values & Competencies & Top Trends to Watch (and the time to address is NOW).
The Top 10 trends identified by grassroots CPAs from across the country who participated in 30 future forums including over 1,000 participants. Using the i2a: Insight to Action Future Forums process to engage and develop the trends. Part of the AICPA's CPA Horizons 2025 Project.
The real danger is not in failure but mediocrity. What separates the best firms from the average firms? What are the critical success factors used in the largest CPA firms that can make even the small firm thrive in this chaotic environment? You will learn about the five R's ROA (return on attention), ROL (learning), ROC (culture) and ROI, ROP (Return on People) and how you can apply them to your firm.
This is preso on High Performance CPA Firms presented on Nov 5 & 6, 2012 at the CCH User Conference
Carnegie Worldwide, Inc. partners with world-class ENERGY/RENEWABLE companies in constant change and growth.
Carnegie Worldwide, Inc. is a boutique firm working within the intersection of Behavior Science and Business Management. Partnering with a select group of clients, we give strategic advice and lead the creation of customized business solutions.
Al Shah's powerpoint presentation from the June 27 webinar from People Management magazine – People power: Sourcing brilliant ideas using social media.
Watch the webinar on demand at http://webinars.peoplemanagement.co.uk/
Why Traditional Intranets Fail Today's Knowledge WorkersTieto Corporation
With the current pace of change, organizations will have to be prepared for the unexpected. They will have to provide flexible access to people and information resources to serve unanticipated information needs whenever and wherever they occur. However, traditional intranets fail today's knowledge workers in this respect.
Integrating the Role of Fee Earners, Marketing and BDRobert_Sawhney
Integrating the work of fee earners, marketing and BD: Presentation delivered at KPMG HK for the Asia Pacific Professional Services Marketing Association June 2010
One thing every CPA agrees on is that this time it’s different. The question on everyone’s mind is what is the new normal?
What are the major trends and issues you must be paying attention to?
Tom Hood will share his insights on the four mega-trends affecting the CPA profession – Globalization, Workforce/Demographics, Technology, and Regulations/Standards and what they mean to your firm. You will also learn how leadership has fundamentally changed and what you can do to get ahead of the next waves of change.
Managing with VUCA: Breaking the Corporate Addiction to Luck and HopeDavid Sypnieski
The value from traditional principles related to analyzing market or social environments is becoming extremely limited. Current and emerging issues facing the world today are more complex and dynamic in nature than in decades and generations past. Traditional, simple, and historic demographic based data isn't sophisticated enough to properly quantify the characteristics of these more complex and dynamic market and social environments.
An evolved set of skills, tools and processes are required to develop successful corporate strategies and thrive in the "Social Economy". In the Social Economy, principles that drove business strategy now expose companies to a tremendous amount of risk due to what is known as the VUCA context. Successfully navigating VUCA with Traditional Strategies requires a significant amount of Hope and Luck. Evolved leaders and strategies engage in activities that on the surface counter the intuition of Traditional Strategists, but ultimately drive out an organization's reliance on Hope and Luck to survive.
Confluent - Monthly magazine by Symbiosis Centre for IT - September 2010Dhiren Gala
What the next generation will expect of BI applications? How generational shift will drive changes in BI tools and technology? How the roles of BI professionals will be transformed? How the uses of BI systems will grow and change?
Data Visualization with Dashboard & KPI
Leadership & the New / Young CPA Professional at the Maryland CPA Summit. A forum for NYPNs to collaborate and express their top issues hosted by the Mar
This presentation was supporting a speech at WCEIT 2012 -- the World Conference on Emerging InfoTech -- Dalian (China), August 2012. I am well aware that the presentation material, without the accompanying speech, may be a bit cryptic at times. Also, comments and questions are welcome at @cdn
What is the biggest question for anyone looking to dramatically increase their success...
How do I harness my knowledge, experience and networks to drive important decisions or solve problems?
What if you could gain the productive and telling insights to drive better, faster, more relevant decisions and solve problems in a simple, visually engaging way?
This presentation was given at the 2011 GeoMunich conference "Fragile Earth". It is also a suplement for the 2011 AGU Fall Meeting Poster presentation "Communicating Complex Sciences by Means of Exhibitions"
Maryland Association of CPAs special edition town hall / Professional Issues Update for Business, Industry, Education, Government & NFP CPAs. Delivered to 200+ CFOs, Controllers, CPA Decision-makers on March 21, 2012 in Timonium, Maryland.
Special town hall / Professional Issues Update to discuss results of CPA Horizons 2025 Project. This interactive format included the results from CPA Horizons future forums facilitated by Tom Hood and the Business Learning Institute during the spring and summer of 2011. Over 1,000 CPAs were engaged in conversations about the future.
CPA Vision on a page created for the AICPA by the Business Learning Institute.
Horizons 2025 Future Forums were conducted in 8 cities across the US using their i2a: Insights to Action Strategic Thinking System. This document was used to explain the original CPA Vision that was checked against the future trends developed by grassroots CPAs
CPA Vision 2025 - Vision of CPA in the future with Vision, Purpose, Values & Competencies & Top Trends to Watch (and the time to address is NOW).
The Top 10 trends identified by grassroots CPAs from across the country who participated in 30 future forums including over 1,000 participants. Using the i2a: Insight to Action Future Forums process to engage and develop the trends. Part of the AICPA's CPA Horizons 2025 Project.
The real danger is not in failure but mediocrity. What separates the best firms from the average firms? What are the critical success factors used in the largest CPA firms that can make even the small firm thrive in this chaotic environment? You will learn about the five R's ROA (return on attention), ROL (learning), ROC (culture) and ROI, ROP (Return on People) and how you can apply them to your firm.
This is preso on High Performance CPA Firms presented on Nov 5 & 6, 2012 at the CCH User Conference
Carnegie Worldwide, Inc. partners with world-class ENERGY/RENEWABLE companies in constant change and growth.
Carnegie Worldwide, Inc. is a boutique firm working within the intersection of Behavior Science and Business Management. Partnering with a select group of clients, we give strategic advice and lead the creation of customized business solutions.
Al Shah's powerpoint presentation from the June 27 webinar from People Management magazine – People power: Sourcing brilliant ideas using social media.
Watch the webinar on demand at http://webinars.peoplemanagement.co.uk/
Why Traditional Intranets Fail Today's Knowledge WorkersTieto Corporation
With the current pace of change, organizations will have to be prepared for the unexpected. They will have to provide flexible access to people and information resources to serve unanticipated information needs whenever and wherever they occur. However, traditional intranets fail today's knowledge workers in this respect.
Integrating the Role of Fee Earners, Marketing and BDRobert_Sawhney
Integrating the work of fee earners, marketing and BD: Presentation delivered at KPMG HK for the Asia Pacific Professional Services Marketing Association June 2010
One thing every CPA agrees on is that this time it’s different. The question on everyone’s mind is what is the new normal?
What are the major trends and issues you must be paying attention to?
Tom Hood will share his insights on the four mega-trends affecting the CPA profession – Globalization, Workforce/Demographics, Technology, and Regulations/Standards and what they mean to your firm. You will also learn how leadership has fundamentally changed and what you can do to get ahead of the next waves of change.
Managing with VUCA: Breaking the Corporate Addiction to Luck and HopeDavid Sypnieski
The value from traditional principles related to analyzing market or social environments is becoming extremely limited. Current and emerging issues facing the world today are more complex and dynamic in nature than in decades and generations past. Traditional, simple, and historic demographic based data isn't sophisticated enough to properly quantify the characteristics of these more complex and dynamic market and social environments.
An evolved set of skills, tools and processes are required to develop successful corporate strategies and thrive in the "Social Economy". In the Social Economy, principles that drove business strategy now expose companies to a tremendous amount of risk due to what is known as the VUCA context. Successfully navigating VUCA with Traditional Strategies requires a significant amount of Hope and Luck. Evolved leaders and strategies engage in activities that on the surface counter the intuition of Traditional Strategists, but ultimately drive out an organization's reliance on Hope and Luck to survive.
Confluent - Monthly magazine by Symbiosis Centre for IT - September 2010Dhiren Gala
What the next generation will expect of BI applications? How generational shift will drive changes in BI tools and technology? How the roles of BI professionals will be transformed? How the uses of BI systems will grow and change?
Data Visualization with Dashboard & KPI
Leadership & the New / Young CPA Professional at the Maryland CPA Summit. A forum for NYPNs to collaborate and express their top issues hosted by the Mar
I had the honor of guest lecturing at Georgetown University in an Integrated Marketing MBA class. This presentation highlights some of the topics discussed in the class, specifically on how the world has changed and today's marketer needs to rethink how to approach marketing.
With talent recruitment and retention topping the list of issues facing CPA Firms along with partner alignment and succession planning issues, the stakes have never been higher for CPA Firms in their recruitment and retention strategies. BLI just announced the 'magnetic firm' framework and the 'big four' ways for firms to become talent magnets.
This presentation has the latest scores on the magnetic firm index which is averaging 67% or a D+ across CPA Firms.
The four categories for a magnetic firm are:
1) Purpose driven workplace
2) Culture of growth (Career Development)
3) Inspiring workplace – flexible and inclusive
4) Great leadership – trust & transparent
Visit us at www.blionline.org
Future of Learning - innovative new learning formats for accounting and finan...Tom Hood, CPA,CITP,CGMA
MACPA and the Business Learning Institute release the first nano-learning course for CPAs, accounting and finance professionals that meets the new CPE standards.
NASBA and the AICPA approved the revisions to the Statement on Standards for Continuing Professional Education (CPE) Programs (Standards) effective September 1, 2016. Among the most significant changes to the Standards is the addition of two new instructional delivery methods: nano learning and blended learning.
The Maryland Association of CPAs and its Business Learning Institute believe that Learning is THE only competitive advantage in this rapidly changing world. They have been on the forefront of learning for the past ten years. Since passing nano-learning in 2015 at the Maryland State Board of Public Accounting, they have been integrating new formats of learning to make learning continuous, engaging and ultimately transformative. The Anticipatory Organization: Accounting and Finance Edition is THE First nano-learning program in North America for accounting and finance professionals. Winner of the Accounting Today 2016 Product of the Year in the learning category. This program combines nano learning format (three to four minute single concept videos) with rapid application exercises to accelerate learning of complex competencies in less times than traditional CPE / CPD programs.
MACPA and its Business Learning Institute have pioneered new methods of learning including second life (CPA Island), remote collaboration via the ThinkTank platform, participation engagement via conferences.io and their #MBSN Management by Sticky Notes collaboration process.
Here are five ways we are changing up learning:
Social;
Mobile / nano, or “Just When You Need It” learning;
Cloud: In what we call the four Cs of talent development, the AICPA Navigator allows us to offer Competencies, Career Path, and a Curriculum on a Cloud-based learning platform that allows firms and companies to move their talent development to a strategic and systematic approach;
Collaborative: MBSN (Management By Sticky Notes), Conferences.io, and the ThinkTank Collaboration platform are highly engaging ways of increasing learning through involvement (see our post on LinkedIn);
Competency-based learning: With our Bounce framework (which maps BLI programs to the new CGMA Competency framework) and our new program to develop a special self-directed action learning program to build a competency around anticipation and strategic thinking.
Impact of Firm Wide Adoption - The Anticipatory Organization Accounting and F...Tom Hood, CPA,CITP,CGMA
This is the first accelerated learning system for accounting and finance professionals featuring nano-learning and rapid application tools. The Business Learning Institute and the Maryland Association of CPAs customized the learning system with a co-creation group working with Daniel Burrus. Accounting Today Magazine recognized this learning system as a 2016 Top Product in Learning.
This presentation covers the experience of firm-wide adoption of the Anticipatory Organization: Accounting and Finance Edition at several major organizations with focus on the first firm to adopt this for their entire firm. Joey Havens, Executive Partner of HORNE, LLP a Top 50 CPA Firm outlines the reasons he made the AOAF learning system a cornerstone of his Growth Mindset and implemented it across his entire workforce of almost 400 people. he also explains why he thinks an "anticipatory skill set is essential for today's accounting and finance professionals.
The Anticipatory Organization™ Model, created and developed by Daniel Burrus of Burrus Research, Inc., has changed how many of the world’s most successful businesses plan their future and accelerate growth. Now, Daniel Burrus is bringing what he calls the greatest missing competency – the ability to anticipate change – to CPAs, CFOs, controllers and management accountants. This model represents a new way of thinking, planning, and acting – a paradigm shift that’s required in a world of accelerating change, competition, and uncertainty.
This innovative learning system will jump start your ability to anticipate and learn critical competencies like strategic thinking, external awareness, vision, continuous learning, innovation, creativity, problem solving, prioritization, business acumen, decisiveness, influencing/persuading, emotional intelligence, consensus building, collaboration, inspiration, risk management, and immediately apply it to your own situation at work.
For more information visit our website http://www.blionline.org/ao
What do next generation leaders say they need to be 'future ready'? This report is from 200+ next generation leaders attending the #AICPA_EDGE Conference in Las Vegas in August, 2016.
Next Gen leaders will be called to lead in a different environment than many leaders of the past. These times of exponential change will require a different skill set. They will be leading in transformational and adaptive times which require new skills and new practices.
This report highlights top challenges, top skills, insights from the session and more.
These polls were integrated during a presentation on "The Future Ready CPA" where we covered the 5 C's - Context, Certainty, Capacity, Competency, and Core Purpose & Values.
We are living in “exponential times” where the size, scale and scope of change is incredible. That means there are incredible opportunities for those who can see through the fog of uncertainty and anticipate what’s next. The biggest opportunity is to harness the wisdom of our older generations with the fresh perspectives of the tech-savvy younger generations. The next generation of leaders is enthusiastically ready to have a seat at the table. The future is not created; the future is co- created. Let’s get to work!
“Everyone keeps telling accountants that they need to change their focus from the historic and the backward-looking, and to start being proactive and offering future-focused advice – but no one tells them how. The beauty of the Anticipatory Organization program is that it actually gives you a set of tools to harness the hard trends that are shaping the future, and use them to create new value for your firm and your clients.” - Daniel Hood, Editor-in-Chief of Accounting Today (when recognizing AOAF as a 2016 Top Product in Learning
The competency of “anticipation” actually includes a number of competencies included in many of the top companies of today.
Across these models, you'll see a common theme of “strategic thinking," "innovation" and “leading change."
Many of these organizations build (and validate) fantastic competency models and know what they want people to do.
The top five skills and competencies identified for CPAs, accounting and finance professionals are:
1. Strategic and critical thinking;
2. Communication;
3. Anticipating and serving evolving needs;
4. Inspiring and motivating others;
5. Collaboration and mobilizing consensus
The beauty of the Anticipatory Organization model is that it offers a clear process that makes highly-abstract leadership competencies attainable and trainable. Using nano-leanring in very short 3-4 minute single concept videos (imagine a series of shirt Ted Talks) with rapid application exercises to immediately apply the concepts to the job, and visual job aids to reinforce and remember the learning. Add a team implementation and collaboration guide and you can create a shared language and culture of being anticipatory and proactive.
If an organization wants to make "strategic thinking" or "innovation" a core competency, we can provide clear, trainable activities that can be targeted to a wide range of learners (from individual contributors to senior leadership). We provide the bridge between the competency model and the desired observable behaviors.
For more information visit www.blionline.org/ao or contact Tom Hood tom@blionline.org
Will your firm thrive or just survive? Anticipation - The critical competency...Tom Hood, CPA,CITP,CGMA
Today, the world of professional education, and accordingly the accounting profession, is migrating toward a competencies-based learning approach. But what are the most critical competencies for practitioners and firms to thrive in today’s ever changing, fast paced business environment?
Research from the Business Learning Institute identified the Top 5 Competencies for CPAs, accounting and financial professionals as:
1. Strategic & Critical Thinking
2. Communication
3. Anticipating and serving evolving needs
4. Inspiring and motivating others
5. Collaboration and mobilizing consensus
In addition, research from CPA.COM shows that only 8% of CPAs are future ready. Future Ready is the Is the capacity to be ANTICIPATORY (aware, predictive and adaptive) of emerging technology and trends in business, demographics, and the social environment impacting your organization and industry.
Together this group of skills and competencies have been researched with a leading global futurist who has put together an innovative learning system, the Anticipatory Organization: Accounting and Finance Edition which is being used to transform firm cultures to build and enhance proactive business advisor skills.
Most of us wish we had the power to predict future trends, and would benefit by learning tactics to do so. Daniel Burrus is one of the world’s leading technology forecasters and innovation experts and the featured keynoter speaker at this year’s DCPA16. He is globally recognized for his exceptional 30+ year record of accurately predicting how technological, social, and business forces converge to create untapped opportunities.
Joey Havens, Executive Partner at Horne, LLP (A top 50 CPA Firm) discusses how he has used the Anticipatory Organization as a foundational learning system throughout his firm. He is requiring his whole firm of 400+ professionals to take this and running collaboration sessions by practice areas to create group learning and a shared language around anticipatory thinking that is being applied inside the firm and outside with clients.
This presentation is from the July 20th, 2016 webcast by CPA.COM. CPA.com President and CEO, Erik Asgeirsson as he discusses the critical Anticipatory competency with Daniel Burrus, HORNE LLP executive partner Joey Havens and the CEO of the Maryland Association of CPAs and the Business Learning Institute, Tom Hood.
For more information http://www.blionline.org/ao
You will learn:
Why anticipation is the critical competency for today's accounting and finance professionals
The difference between hard trends and soft trends
Why it is important to identify trend types
Use cases of how these skills are being used in the profession
How this learning system can be used as a foundational skill set to help CPAs and accounting professionals be more proactive business advisors.
It May be Time to Reinvent Your Firm - CPAFMA National Practice Management Co...Tom Hood, CPA,CITP,CGMA
What is the accounting professionals' role in creating a culture of innovation? How are CPA Firms innovating? Reinventing themselves? Creating magnetic cultures?
Studies are showing a growing expectation for accounting professionals to lead these initiatives. In this session we will discuss tactics to foster innovation in your firms, technology's role and advising clients to do the same through tools you provide.
This session covers the latest research from the Business Learning Institute (BLI) about what it takes to create a magnetic firm culture and scores the latest issues facing CPA firms, top skills needed, and an innovation index.
From a session at the CPAFMA National Practice Management Conference in Baltimore in 2016.
For more information see www.blionline.org
Recent research says that the business environment for CPAs and their clients will be characterized by “unprecedented, massive and highly accelerated change” through 2025. To thrive in this new age of hyper-change and growing uncertainty, it is now an imperative to learn a new competency--how to accurately anticipate the future. The key to success in this fast-changing environment is to learn how to move from being reactive to proactive and flip from crisis manager to an opportunity manager. Tom will show how to explore new value added services and position their practices for success in a rapidly changing world.
Recent research from the AICPA says that the business environment for CPAs and their clients will be characterized by “unprecedented, massive and highly accelerated change” through 2025. To thrive in this new age of hyper-change and growing uncertainty, it is now an imperative to learn a new competency–how to accurately anticipate the future. This session will show how to anticipate these trends and move from being a crisis manager to an opportunity manager. At the end of the session participants will set actionable steps to elevate and accelerate their organization’s strategy.
VUCA stands for Volatility, Uncertainty, Complexity and Ambiguity and describes the fast-arriving future we are living in. This inspirational session will talk about how leadership, culture, and talent management are changing in these exponential times. Participants thru an exercise to leave with a person action plan.
Learning Objective:
Understand emerging trends and issues facing business and CPA Profession.
Learn about how leadership is changing to lead change in rapidly changing times.
Develop an action plan to take back and apply the principles learned.
The #1 reason clients leave their CPAs is that they are receiving service instead of proactive advice. Tom will show how firms are exploring new value added services and position their practices for success in a rapidly changing world. He will discuss the major "shift change" and the trends shaping business today and give participants a framework to provide more proactive services and strategic advice and a plan to get started. But these services require new skills and approaches which is a big opportunity for firm HR and Learning Leaders.
Presentation to AGN International in San Diego #NARM16 for Managing Partners in MAP Track
How to Accelerate Growth, Innovation, and High Performance for CPAs, Account...Tom Hood, CPA,CITP,CGMA
The # 1 challenge facing CPAs, Accounting and Finance Professionals is 'not enough time' who creates the equivalent of a gravitational pull of the past when it comes to changing their mindsets and thinking. How will we go from a historical perspective to a more future-focused, from rearview mirror to windshield and from being reactive to proactive?
Our latest research from the Business Learning Institute sows the critical competencies that will make a difference have not changed in the past seven years. What has changed is the gravitational pull has gotten worse as we enter what Josh Bersin calls the age of the 'overwhelmed employee'.
What we need is a new approach to learning these critical competencies. A blended approach that uses nano-learning nuggets (very short 2-3 minute single-concept videos), rapid application templates to apply each concept to the business, and a series of job aids and performance support tools to turn the learning into immediate on the job application. This is our award-winning Anticipatory Organization learning system by Burrus Research. In about one third of the time as traditional CPE, CPAs and accounting and finance professionals can learn the critical competencies of:
Anticipation; Strategic Thinking; External Awareness; Vision; Continuous Learning; Innovation ;Creativity; Problem Solving; Prioritization; Business Acumen; Decisiveness; Influencing/Persuading; Emotional Intelligence; Consensus Building; Collaboration; Inspiration; Risk Management; and Communication.
The Anticipatory Organization can support an entire cultural shift for an organization or team with the added implementation guide and collaboration tools. See more at http://www.blionline.org/ao
Our new MBA Express is another option to create or add a series of critical success skills to your technical training portfolio in on-site, on-line and on-demand learning formats. http://blionline.org/featured/8-hour-mba/
We believe we need new approaches and new tools to break the pull of the past and the inertia from 'overwhelmed employees'. These exciting new learning formats are one step in this direction.
Accounting Today Editor, Daniel Hood said this after selecting the Anticipatory Organization as a Top Product for 2016 in the Learning Category, “Everyone keeps telling accountants that they need to change their focus from the historic and the backward-looking, and to start being proactive and offering future-focused advice – but no one tells them how. The beauty of the Anticipatory Organization program is that it actually gives you a set of tools to harness the hard trends that are shaping the future, and use them to create new value for your firm and your clients.”
What does innovation look like in a CPA Firm? How are leading CPA firms creating a culture of innovation?
We are in a fast-paced world where growth/change is exponential not incremental. The CPA profession has been late adopters of change and “anticipation” is a missing skill set for many CPAs. We will soon be living in a world where global competition and automation will be performing basic accounting tasks currently being performed in our firms today. Tom Hood, Executive Director of the MACPA will lead a discussion on where accounting firms
fit into a rapidly changing world. Hood, along with Jim Powers, CEO of Crowe Horwath LLP and Bill Balhoff, Managing Director of Postlethwaite & Netterville will explore how firms can maintain their competitive edge through inNEWvation.
The CPA Vision 2011 is the report from the AICPA from a project to create a comprehensive grassroots vision for the future of the CPA Profession. The first profession to ever create a vision for itself. Using a volunteer team of CPAs and State CPA Society executives aided by a team from the AICPA and led by Jeannie Patton in 1997-1998.
MACPA Spring 2016 Professional Issues Update - Business & Industry EditionTom Hood, CPA,CITP,CGMA
What are the latest trends and issues facing the CPA profession? What is the future of finance and accounting in an age of exponential change? What is the future of the profession and what is the MACPA doing about it?
Tom Hood, the second most influential person in the CPA Profession and CEO of the Maryland Association of CPAs attempts to answer these questions and offer his perspective in this special update for MACPA members only focusing on CPAs in business industry, government and NFP.
Keynote for Beta Alpha Psi Atlantic Coast Regional Meeting
on March 18, 2016 in Towson, Maryland
What are the latest trends and issues facing accounting and business? What are the outlooks for careers in accounting, finance, information systems and business majors?
Tom Hood, CEO of the MACPA and Business Learning Institute covers this and career advice for accounting students in this inspirational keynote.
State of Accounting for Linked-in Influencer Series #MyIndustry
Big Waves of Change, Oceans of Opportunity
These big waves of change are the result of a “perfect storm” of sorts -- the convergence of three “hard trends” of exponential technological innovation, the demographic shift as baby boomers retire, and globalization. Key challenges facing accounting and finance professionals are automation and digital transformation, succession and talent shortages, a “brain drain” as experienced people retire, business model changes, and the increasingly VUCA world (that’s volatility, uncertainty, complexity and ambiguity) in which we find ourselves.
Several recent studies (from WEF, Oxford, McKinsey and MIT) report that accounting, auditing and tax are among the occupations most at risk for complete automation within the next 20 years.
As a result, the accounting and finance profession is rapidly approaching what Andy Grove, retired CEO of Intel Corporation, described as a “strategic inflection point,” -- “a time in the life of a business when its fundamentals are about to change. That change can mean an opportunity to rise to new heights. But it may just as likely signal the beginning of the end.” This is where there are two major pathways: doing business as usual, or embracing and adapting to the new. At the moment these are fairly close together, but they will soon diverge into a growing gap between growth and success, or entropy and decline.
“You can’t stop the waves, but you can learn how to surf.” - Jon Kabat-Zinn
To take advantage of these oceans of opportunity, accounting and finance professionals will need to learn how to ride these big waves or risk being crushed by their frequency and force. The critical thing to know is that what got you here, won’t get you there. Business as usual simply won’t work.
Here are six ways to learn how to ride these big waves of change now and in the future:
1. Embrace digital: Learn how to elevate and accelerate your job using technology and to race with the machines, not against them.
2. Anticipate: Learn the critical competency of anticipation. Only those who constantly try to anticipate change will survive when change happens.
3. Collaborate: The collaboration curve is quickly replacing the experience curve. Who you know is replacing what you know.
4. Learning is the next competitive advantage: As Fast Company editor Robert Safian wrote, “the most important skill is the ability to acquire new skills.”
5. Protect the core: When everything is changing, it is important to know what should not change. Purpose and values for individuals and organizations should serve as that anchor or grounding.
6. Make time for the future. Your time and those of your people will be your number one challenge, and nothing will change if you are overwhelmed and too busy.
The hard trends are forming these big waves of disruption and change. Surf's Up - Are you ready?
What are the Top Competencies (Knowledge, Skills and Abilities) needed by CPAs, Accounting and Finance Professionals today?
The Business Learning Institute shares its latest research and correlates it with other leading global research (Conference Board, AICPA, CGMA, IFAC, CPA Canada, Burrus Research, Bersin by Deloitte). These skills were identified and then surveyed across over 1,000 finance and accounting professionals to identify the top five skills needed today.
In our survey work at the Business Learning Institute (http://www.blionline.org) we found that the top five skills ranked by survey respondents covered 75% or everyone's top five list, providing a great starting point for skills development and targeting in talent development.
1. Strategic and Critical Thinking
2. Communication
3. Anticipating and serving evolving needs
4. Inspiring and motivating others
5. Collaboration and mobilizing consensus
BLI also developed a framework, called The Bounce to describe the career trajectory of today's finance and accounting professional. The Bounce is the natural career trajectory for accounting and finance professionals. It talks about the process of acquiring technical mastery in the early career and beginning to supplement wit the critical skills (competencies) needed for long-term success. BLI has been leading the training and development of accounting and finance with these ‘success skills’ for eighteen years.
The Business Learning Institute (BLI) is the largest talent development and and learning provider to CPAs, accounting and finance professionals in the US. We bring our leading approach to ‘success skills’ and competency-based curriculums to the leading organizations, public companies and CPA firms all over North America.
We tend to think of “innovation” in terms of new technology – gadgets, hardware, new apps, and software. But true innovation more often comes in the form of new business models, workflows, service offerings, and office and staffing patterns. This session will center on those innovations that are significantly impacting our firms and our clients. You never know where innovation might sprout!
This session was produced for the DCPA15 Conference in Las Vegas.
A recent HBR special edition headline said "Got to war for talent", but how. BLI has developed a guidance and a six step process to give you new weapons to win in the war for talent.
Our Magnetic Firm framework outlines the critical elements of a magnetic culture and our six step Talent and Leadership Development framework show you how to develop a winning career and curriculum aligned to your overall firm strategy and objectives.
This presentation was developed and presented for the Digital CPA Conference in December #DCPA15
The Business Learning Institute can help you build your magnetic firm framework and strategic learning plan - contact us at http://www.blionline.org
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100
Most
InfluenAal
• AICPA
• SEC
• PCAOB
• MACPA!
• IRS
• Ron Baker – Value Pricing
• FASB
• Gary Boomer – Tech Guru
• The next president
• IASB
7. Top Seven Issues Facing Young
professionals
1. InformaAon
overload
(including
accounAng
and
tax
complexity)
2. Work
/
life
balance
3. GeneraAonal
issues
and
communicaAons
(including
upper
management
not
sharing
knowledge
with
the
younger
generaAon)
4. Developing
networking
skills
5. Keeping
up
with
technology
-‐-‐
especially
the
cloud
6. Finding
career
guidance
7. Understanding
social
media
benefits
7
8. In
1997,
the
CPA
profession
crowd-‐sourced
its
future
with
over
3,500
CPAs
in
the
CPA
Vision
Project
That
was
re-‐validated
in
2011
by
8,000+
CPAs
Our core purpose, our reason for
being is
CPAs...
Making sense of
a changing and
complex world.
Here is what they said…
9. The
DNA
of
the
CPA
Values
&
Competencies
• Leadership
• CommunicaAon
• Strategic
Thinking
• CollaboraAon
&
Synthesis
• Technologically
Savvy
10. Our
Vision
Statement
for
the
future
is:
(
mandates
to
ourselves
for
a
successful
future)
CPAs are the trusted professionals who enable
people and organizations to shape their future.
Combining insight with integrity, CPAs deliver value by:
• CommunicaAng
the
total
picture
with
clarity
and
objecAvity,
• TranslaAng
complex
informaAon
into
criAcal
knowledge,
• AnAcipaAng
and
creaAng
opportuniAes,
and
• Designing
pathways
that
transform
vision
into
reality.
11. Moving
up
the
InformaAon
Value
Chain
Designing pathways
that transform vision
into reality
Transactions
Decisions
Communicating the total
picture with clarity &
objectivity
Anticipating
Data
Translating complex Knowledge
and creating
information into opportunities
critical knowledge
Information
Copyright 2012 – Business Learning Institute
12. CPAs Inspire Confidence
“CPAs have a unique perspective that is
“I would be more confident in a job done valuable when making business and financial
by a CPA than if it were done by an decisions, even when those decisions are not
accountant who is not a CPA” directly related to accounting”
BDMs BDMs
Disagree
Disagree
Agree Agree
Don't know Don't know
Investors Investors
Disagree Disagree
15% 16%
Agree
74% Agree
67%
Don't know Don't know
11% 17%
13. 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
innovators. 13
Wisdom from the MACPA Leadership
Academy
22. You can't connect the dots
looking forward you can only
connect them looking
backwards. So you have to trust
that the dots will somehow
connect in your future.
23.
24. A leader s
job is to
define
context and
provide
hope and
inspiration...
24
25. Tom
Hood,
CPA.CITP
CEO
Maryland
Associa8on
of
CPAs
Business
Learning
Ins8tute
(443)
632-‐2301
E-‐mail
tom@macpa.org
Web
hNp://www.macpa.org
Blog
hNp://www.cpasuccess.com