What is over the Horizin for the CPA Profession? Tom Hood covers the latest developments in the CPA Profession and looks to the future in this four hour (Free CPE) session for members of the Maryland Association of CPAs. It covers the latest in the four major trend areas of Economic, Politica;/Legislative/Regulatory, Social/Demographic, and Technology. He finishes with tools and resources to help CPAs thrive in the "Extreme Future".
Briefing of the major issues facing the CPA Profession. It looks at the macro trends and the specifics inside the CPA Profession.
This update includes the latest on the economy, standards & legislation / regulation, workforce, technology, globalization, and the latest research about issues facing CPA firms, Business & Industry CPAs, and young professionals.
How do CPAs stay ahead of the rapidly changing environment? Maryland Association of CPAs offer free four (4) hour professional issues updates for our members every six months.
These engaging and interactive "town hall" format meetings cover the latest developments facing CPAs. The Fall series features updates on the four mega-trends - Economy, Gobalization, technology and the Workforce. In aaddition the latest developments in Regulations and Standards are covered. This edition features many tax and IRS developments (PTIN, 1099) and the latest on financial accounting standards (IFRS, private companies).
We clsoe with a session on leadership in rapidly changing times.
NASHP is seeking applications for Consortium membership from states with emerging Medical Home Initiatives. This year-long program will offer assistance to states seeking to strengthen, expand, and sustain their Medicaid and CHIP-focused medical home initiatives. Interested states can submit an application by February 2.
Dealing With Payers With Physician Driven Cost AndWilliam Cockrell
This is a presentation I just did for MGMA Alabama on how providers should develop their own cost and quality data. Thanks to RealTime Medical Data for their support.
Briefing of the major issues facing the CPA Profession. It looks at the macro trends and the specifics inside the CPA Profession.
This update includes the latest on the economy, standards & legislation / regulation, workforce, technology, globalization, and the latest research about issues facing CPA firms, Business & Industry CPAs, and young professionals.
How do CPAs stay ahead of the rapidly changing environment? Maryland Association of CPAs offer free four (4) hour professional issues updates for our members every six months.
These engaging and interactive "town hall" format meetings cover the latest developments facing CPAs. The Fall series features updates on the four mega-trends - Economy, Gobalization, technology and the Workforce. In aaddition the latest developments in Regulations and Standards are covered. This edition features many tax and IRS developments (PTIN, 1099) and the latest on financial accounting standards (IFRS, private companies).
We clsoe with a session on leadership in rapidly changing times.
NASHP is seeking applications for Consortium membership from states with emerging Medical Home Initiatives. This year-long program will offer assistance to states seeking to strengthen, expand, and sustain their Medicaid and CHIP-focused medical home initiatives. Interested states can submit an application by February 2.
Dealing With Payers With Physician Driven Cost AndWilliam Cockrell
This is a presentation I just did for MGMA Alabama on how providers should develop their own cost and quality data. Thanks to RealTime Medical Data for their support.
View the presentation from the webinar with Woody Dilaha, CEO of Performance Matters, and School Improvement Network. Woody discussed the importance of having an effective multi-measure evaluation tool for meaningful and accurate teacher assessments.
Learn more about this webinar at:
http://www.schoolimprovement.com/resources/webinars/configuring-your-multi-measure-evaluation-system-recform/
Exam II Review Session Information Security 365/765Nicholas Davis
Sample questions for EXAM II, in the Information Security 365/765 course, which I have been teaching at UW-Madison, this semester. After each question slide, you will find the correct answer. Try it out and let me know how well you do.
Meet database performance needs while reducing TCO with the Dell PowerEdge VR...Principled Technologies
Cloud WAN services can seem convenient for small businesses and remote offices, but they remove local control and can be more expensive over time. In our tests, the all-in-one Dell PowerEdge VRTX provided the necessary transactional database performance while saving up to 63.9 percent in costs over five years. When you’re looking for a reliable solution to run workloads in remote offices, the Dell PowerEdge VRTX has the potential to cost less than running databases from the cloud.
Riding the convergence of Social, Mobile, and Cloud to create new media model...Shree Dandekar
As the adoption of social, mobile and cloud computing continues to transform industries, organizations increasingly value how these technologies can improve customer engagement, forge new partnerships and drive competitive advantage. As great as the promise of convergence is, many organizations are still struggling to reinvent their business operations and keep pace with the explosion of mobile channels and volume of data being generated. This session will aim at not only discussing some of the natural use cases of this disruption like social casting but will provide a practical approach to marketers on how to realize an ROI from their social and mobile investments using analytics.
View the presentation from the webinar with Woody Dilaha, CEO of Performance Matters, and School Improvement Network. Woody discussed the importance of having an effective multi-measure evaluation tool for meaningful and accurate teacher assessments.
Learn more about this webinar at:
http://www.schoolimprovement.com/resources/webinars/configuring-your-multi-measure-evaluation-system-recform/
Exam II Review Session Information Security 365/765Nicholas Davis
Sample questions for EXAM II, in the Information Security 365/765 course, which I have been teaching at UW-Madison, this semester. After each question slide, you will find the correct answer. Try it out and let me know how well you do.
Meet database performance needs while reducing TCO with the Dell PowerEdge VR...Principled Technologies
Cloud WAN services can seem convenient for small businesses and remote offices, but they remove local control and can be more expensive over time. In our tests, the all-in-one Dell PowerEdge VRTX provided the necessary transactional database performance while saving up to 63.9 percent in costs over five years. When you’re looking for a reliable solution to run workloads in remote offices, the Dell PowerEdge VRTX has the potential to cost less than running databases from the cloud.
Riding the convergence of Social, Mobile, and Cloud to create new media model...Shree Dandekar
As the adoption of social, mobile and cloud computing continues to transform industries, organizations increasingly value how these technologies can improve customer engagement, forge new partnerships and drive competitive advantage. As great as the promise of convergence is, many organizations are still struggling to reinvent their business operations and keep pace with the explosion of mobile channels and volume of data being generated. This session will aim at not only discussing some of the natural use cases of this disruption like social casting but will provide a practical approach to marketers on how to realize an ROI from their social and mobile investments using analytics.
Speed up system deployment with Dell Connected Configuration servicesPrincipled Technologies
The days of administrators going through lengthy system provisioning procedures to update and patch client images on new employee systems are gone. With Dell Connected Configuration service, your organization can get any number of systems delivered to your door with the latest company image loaded and customized for your employees’ needs. Dell Connected Configuration Service lets customers using management software such as SCCM integrate existing software and processes securely into the Dell manufacturing process at the factory using a secure VPN with your own network/firewall standards, so you can change configurations from your location in real time, on your time. From your headquarters, you can complete a number of tasks on new systems, including imaging, updating BIOS settings, partitioning and encrypting hard drives, and installing user-specific software.
As we found, using Dell Connected Configuration Service could save significant time for a laptop deployment, allowing your administrative staff to focus on other ways to improve your business IT. Additionally, your employees can receive their new systems more quickly, potentially avoiding days of waiting for a system to be ready. These time saving advantages of Dell Connected Configuration services can mean a more efficient process for deploying new systems, and can boost productivity by putting the up-to-date tools employees need to do their jobs into their hands more quickly.
Dell PowerEdge R720 server with VMware vSphere 5 - Exchange server consolidationPrincipled Technologies
Better performance and lower costs are driving factors in the hardware you choose for your data center. In choosing a newer server and storage solution, you can acquire enough processing power to virtualize older servers and consolidate them onto the new solution, which can increase performance dramatically while keeping costs down.
In our tests, the Dell PowerEdge R720 server with Compellent storage was able to take the place of four older HP ProLiant DL380 G6 servers by supporting the same 2,000-user Exchange Server 2010 workload as the older four combined. In addition to supporting four workloads, the Dell PowerEdge R720 was also more power efficient, supporting 116.0 percent more users per watt than the HP ProLiant DL380 G6. With such increases in performance and decreases in power consumption, the Dell PowerEdge R720 can deliver payback in as little as 18 months, providing an affordable consolidation platform for your business.
This panel will discuss the latest developments with the IRS including Large Business & International (LB&I) organizational changes and how they affect you.
Connie White Delaney is Professor & Dean, School of Nursing, University of Minnesota. She also serves as Director, Biomedical Health Informatics (BMHI), Associate Director of the CTSI-BMI, and Acting Director of the Institute for Health Informatics (IHI) in the Academic Health Center. Delaney is the first Fellow in the College of Medical Informatics to serve as a Dean of Nursing. Delaney is an appointee to the Health Information Technology Policy Committee, an advisory body established by the American Recovery and Reinvestment Act within the U.S. Government Accountability Office (GAO). Delaney serves on numerous boards, including the Board of the American Association of Colleges of Nursing, Board of LifeScience Alley, the American Medical Informatics Association (AMIA), Premiere Quest National Advisory Panel. ! She is an active researcher and writer in the areas of national standards development for essential nursing care and outcomes/safety data. She holds a BSN with majors in nursing and mathematics, MA in Nursing – Adult Health, Ph.D. Educational Administration and Computer Applications, and completed postdoctoral study in nursing & medical informatics at the University of Utah.
Tom Hood, CEO of Maryland Association of CPAs provides these special updates on the CPA Profession to their members. This is the latest developments in the CPA Profession featuring the latest developments in trends and issue in the legislative & regulatory areas. Covering the latest from the IRS, FASB, IASB, and the State of Maryland.
The goal at PrimeLending is to provide unsurpassed quality service and support throughout the entire mortgage process for every client and referral source. This proactive sales and operational philosophy simplifies and accelerates the loan process at all levels. PrimeLending takes pride in being recognized as a premier mortgage lender offering a wide array of loan products. Mortgage loan options include:
FHA • VA• USDA • Government Bond Programs • Fannie Mae HomePath • Fannie Mae HomeStyle Renovation
Conventional Financing to 10 properties • Fannie Mae Direct • Making Home Affordable HARP Refinance
Jumbo • Super Jumbo Loans to 5 Million • Luxury Home Financing with Reduced Documentation
Foreign Nationals • Canadian Financing • Pledged Assets OK
Let me provide you a mortgage without obstacles. Thank you for taking the time to visit my website. Please do not hesitate to contact me with any questions you might have. I look forward to serving as your mortgage consultant and being your lender for life.
Mary Takach, MPH, RN, Program Manager, NASHP moderates and discusses Medical Home Project at webinar New Tactics for Building Medical Homes in State Medicaid and CHIP Programs on December 16, 2010
bStable - Depression and Bipolar Disorder Disease State Management System - P...McGraw Systems LLC
bStable is the only comprehensive personal health record system for patients diagnosed with affective disorders such as Depression and/or Bipolar Disorder, their loved ones, psychiatrists, and psychologists to manage the patient's disease state. Using this patent pending technology, patients and the individuals in the patient's support team use bStable together to collect and analyze data from various angles of the patient's life for optimal patient - clinican communication and as a crisis prevention solution.
In addition to powerful patient monitoring features, bStable includes support for psychotherapeutic approaches such as cognitive behavioral therapy (CBT) and other affective disorders such as: attention deficit hyperactivity disorder (ADHD), social phobia disorder, anxiety disorder, and premenstrual dysphoric disorder. bStable also has support for Chronic Fatigue Syndrome (CFS) monitoring.
AAA National Conference - Everything you wanted to know about state CPA Socie...Tom Hood, CPA,CITP,CGMA
Top 10 reasons and resources for CPA Firms from State CPA Associations. Presentation to the AAA National Practice Management Conference in New Orleans by Tom Hood, CPA, Past President of national CPA-SEA (State Execustives Association) and President of the Maryland Association of CPAs
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
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A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
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Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
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External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
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4. 1. Speed – the rate of change will be blinding,
comprehensive in scope and touch every aspect of
your life
2. Complexity – A quantum leap in seemingly
unrelated forces converging on everything
3. Risk – New risks, higher risks, and more risks
4. Change – Drastic adjustments in your work,
community & relationships forcing you to adapt
quickly to radical changes
5. Surprise – sometimes good, sometimes difficult to
imagine, surprise will become a daily feature of
your life
5. We feel overwhelmed by the
waves of change
The 5 C’s
• Competition
• Compliance
• Convergence
• Change
• Complexity
6. There is a way out…
The tornado of changes from CPA Vision Project circa 2000
7. We can to learn how to harness the
winds of change, together!
9. We can become navigators of change
“There isn’t the luxury of time.
We used to say, ‘Wait until
this crisis is over and we get back
to normal,’ but that never happens.
We have to be ‘change animals.’”
- Michele McKenzie, President and CEO,
Canadian Tourism Commission
10. Let’s break it down
• Economic
• Political / Legislative / Standards
• Social / Workforce Demographics
• Technology
• The Future of our Profession
• MACPA resources
19. The (infra) Structure of the CPA Profession
Federal & State Laws & Regulations
– SEC, DOL, Treasury, GAO, PCAOB
CPA Profession Standards – AICPA &
FASB, GASB, FASAB, IASB
State CPA Statutes (Law)
State Boards of Accountancy issue licenses and regulate CPAs
22. Where do major changes come from?
Most changes come from regulators and standard setters
Us – Associations Them – Federal & State
Infrastructure
MACPA & AICPA legislators
OR
New laws, regulations
& regulators
23. Recent example – The Dodd – Frank Wall Street
Reform and Consumer Financial Protection Act of 2010
Crisis hits news
Bureau of Consumer
Financial Protection
848 pages!
533 regulations
60 studies
94 reports
26. What did we do when you were forced
to have a license in every state you file
A
taxes in? WA
MT ME
VT
ND
K
OR MN NH
ID
SD WI
WY NY *MA
MI
• Collaborative effort with AICPA – NE IA *PA CT RI
NV OH
CPA/SEA – NASBA & State CPA
CA
UT
CO
IL IN
WV
DE NJ
VA
KS
HI Societies MO KY
NC
MD
TN DC
• 47 states passed legislation in three
AZ
NM
OK
AR SC
(3) years MS AL *GA
TX LA
• Maryland enacted it in 2008 FL
Awaiting Governor Signature - 1
PR
CPA Mobility Legislation Pending - 2
GU
U.S. VIRGIN ISLANDS
CPA Mobility Enacted 46
* CPA Mobility Enacted Only for
Other Mobility States – GA, PA, MA
26
In Process
27. The Federal Issues – more waves of
change
• FTC Red Flags rule – privacy
& identity theft
• Tax Preparer Registration &
PTIN issue
• Patient Protection Act &
1099’s
• Tax Strategy Patents
• Dodd‐Frank Act
• 3% Withholding on Govt
Pmts
28. The State Issues – cascading from the
federal level and revenue shortfalls
• Maryland Privacy Act
• Maryland Tax Preparer
Regulations
• Maryland Consumer
Protection & Debt
Counselors
• Sales Tax on Accounting &
Tax Services
• Combined Reporting
29. MACPA 2011 Agenda
5 for 5!
Pass 120/150 legislation
Stop Sales Tax on Accounting
Services
Exempt CPAs from Debt
Counseling Bill
Stop Trial Lawyers attempts at
Tort Liberalization –
Comparative Fault
Pass Safe Harbor legislation
CPA Day in Annapolis
January 18, 2012
31. Looking ahead to 2012
• Special Session to deal
with redistricting (and
budget) – will see tax
proposals
• Sales Tax on Services
• Combined Reporting
• Comparative Fault =
increase liability
• Quid Pro Quo for DC
mobility
32. It all adds up
$ per partner / year
1. CFPA $250
2. Tax Prep $150
3. Debt $150
4. Mobility $500
Total $950
Sales Tax est $22,000 per partner
33.
34. Another way to look at standards & oversight
Public Company Private Company Int’l Company
Financial SEC FASB IASB
Reporting
FASB PCFRC IFRS & SME
Audit /Attest
AICPA
Performance
Standards
PCAOB ASB, ARSC, PRB
IAASB
Code of AICPA AICPA
Conduct
PEEC PEEC
IFAC
CPA
State Oversight & Enforcement of CPA License
Licensure
35. The Players
SEC
FAF
BRP FASB GASB
PCFRC
& State Boards & State CPA
Societies
36. Additional Background Info
15,000 issuers and 28.5 million private companies
but GAAP driven by public company issues
Small businesses employ more than half of all
private sector workers
Private companies and their financial statement
users have information needs that are different
than public companies
38. Concerns About Private Company
Financial Reporting Include:
Too many GAAP-specific requirements not
useful or relevant for private companies
Greater FASB emphasis on public
companies
Increased cost, complexity, time-
consuming using full GAAP
Use of OCBOA raises the issue of what’s
“generally accepted”
39. U.S. Answer: Blue Ribbon Panel on
Private Company Financial Reporting
Address how accounting standards can best meet
private company financial statement users’ needs
Determine future of GAAP standard-setting process
for private companies
Sponsored by AICPA, FAF and NASBA
18 panel members: cross-section of financial
reporting constituencies, including lenders, investors,
owners, preparers and auditors
40. Blue Ribbon Panel’s Conclusions
A problem exists that needs resolution
Recommendation #1 - Enhance GAAP
for private companies by making
significant modifications, where
warranted
Recommendation #2 - FAF should
create a separate private entities
accounting standards board
41. Other Key BRP Recommendations
Framework for differential decision criteria
3-5 year sunset review to determine
effectiveness of new board
5-7 board members
$4-5 million annual budget
42. FAF “Working Group”
FAF created a “Working Group” on
March 4, 2011
Comprised of FAF Trustees and
FAF Staff
Added non-profits to the mix
43. 90.87% of MACPA members believe we need
Private Company Standards
Insights form the Spring & Fall, 2010 PIU / town hall meetings covering 2,000+ members
45. MACPA’s response
MACPA sent comment letter to FAF on
December, 2010 for initial survey
MACPA Chair Kimberly Ellison-Taylor
appoints special Accounting Standards
Task Force
Accounting Standards Task Force held
meetings from Jan – Mar, 2011
46. MACPA Accounting Standards Task
Force – The power of “We”
Chair:
Art Flach Grant Thornton Public accounting firm
MACPA Facilitators:
Tom Hood MACPA CEO & Executive Director Non-Profit
Jackie Brown MACPA COO Non-Profit
Skip Falatko MACPA CFO Non-Profit
Task Force Members:
Ernie Paszkiewicz Gross Mendelsohn & Assoc. Public accounting firm
Rob Tuggle BB&T Banking
Bill Ziegler BB&T Banking
Carl Kampel Ellin & Tucker Public accounting firm
Joselin Martin Hayles & Howe Private company
Liz Gantnier Stegman & Co. Public accounting firm
Bob Tarola Right Advisory Public company consultant
Mike Manspeaker Smith Elliott Kearns & Company, LLC Public accounting firm
Ken Kelly McCormick Public company
Don McConnell KCI Private company
Jim Canalichio Dixon Valve Company Private company
Jim Jenkins Stout Causey & Horning Public accounting firm
Al DeLeon DeLeon & Stang Public accounting firm
Debra Busk DeLeon & Stang Public accounting firm
Charles Postal Santos, Postal & Co. Public accounting firm
Jim McKinney University of Maryland Educator
OJ Phillips Small Business Administration Government
49. Draft conclusions – Not approved by
MACPA Board
Private Company Standards need to be
addressed (costs, complexity, OCBOA)
Current structure is not working –
PCFRC recommendations were not
addressed, prior studies indicate issue
Other jurisdictions around the world
recognizes needs of private company
users are different
59. Gen Y’s Top Five Ways We Think
and Act at Work
1. No expectation of lifetime employment
2. A feeling of entitlement with big
expectations
3. A hunger for instant gratification and
tangible outcomes
4. A new relationship with technology &
communication
5. A need for ongoing feedback
60. In defense of Gen Y
“The only way we can go wrong is to
discourage these kids. They are set
to go. They’re smart. They’re
motivated. They understand the
problems. They are engaged.”
- David Gergen – Political Analyst
61. New CPAs in Maryland
New CPAs
457
383
291
236
194
166
74
04 05 06 07 08 09 10
71. Turbulent times require new skills and new ways of thinking
“You can’t stop the waves, but you can learn to surf”
- Jon Kabat-Zinn
Photo: Pratt’s surfing page
75. Top 10 Trends
(and the time to address is now)
1. Pressures on Gov’t & rising deficit
2. Changes in learning – informal & on‐demand
3. The cloud = flex, global, work anywhere
4. Increasing complexity, ambiguity & change
5. Globalization and economic shifts
6. Information overload
7. Shift to consumer power (push to pull)
8. Workforce, demographics, the “she” economy
9. Going mobile
10. Social media = business
76. Steve King – Emergent Research
& author of Intuit 2020 report
80. 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:
• Communicating the total
picture with clarity and
objectivity,
• Translating complex
information into critical
knowledge,
• Anticipating and creating
opportunities, and
• Designing pathways that
transform vision into reality.
81. The DNA of the CPA
• Communication &
Leadership
• Strategic & Critical Thinking
• Focus on the Customer,
Client, and Market
• Interpretation of
Converging Information
• Technologically adept
83. The Decade of the CFO?
The best CEOs in the
world are a
combination of CEO,
COO and CFO. They are
inspirational,
financially literate and
know the ins and outs
of their business at a
sophisticated level.
87. The Power of We!
Our colleagues are phenomenal. I see it time and time again, both on this website and elsewhere. Not only "resources" but the human creativity, insight
and wisdom so freely given. It reminds me of a karate dojo where members at various levels tutor and mentor those "below" them while being tutored
and mentored "from above." Makes me proud to be part of the profession. I'm glad so many recognize how unique and very valuable we as a group are, it's
truly remarkable and oh so greatly appreciated. Since I appear to be the sole member practicing at the beach, I would like to suggest maybe a little social
mixer for listserv participants before, during, or after the MACPA Beach Retreat? Nothing too formal or structured, but so we all can put faces with names,
etc. I see these "flash mobs" on the news, lol, something like that. I will be some sort of forward team arranging a place and maybe a drink or food deal with
an OC establishment. I feel that I have come to know many of you but couldn't pick you out of a police line up! It's not just the sole practitioner. There are
many of us out here with small practices that don't have the manpower resources to maintain in‐house specialized departments. I find it amazing that even
at the height of deadlines there are those who "belly up to the bar," to offer words of wisdom and advice for the practitioner in need. Awesome folks
here! . I am, too, a sole practitioner, and this year I used listserv for the first time. Every time I have some problems I couldn't figure out and always had to
spend more time than "necessary" to look for publications, look for research materials, etc. But this year, any problem or issue I post there, to my surprising
happiness, the answer came in within a couple of hours, without spending my own time. I just waited for any answer to come out from you. And especially
this year, which I found out I was having more complicated cases than before, how much I was able to deal with, thanks to all of your suggestions, advices,
ideas, all of which truly helped me survive this tough season. And yes, finally, I really think our membership dues become worth when we utilize this
group's brainstorming. Thank you all for your invaluable advice and comments, suggestions you have given to me, who has been suffering lack of great
resources. I could give you unlimited thank‐yous to you all! I agree the listserv is an invaluable resource and it has helped me a great deal during this tax
season. Of all the wonderful benefits of being a MACPA member, the value of this one service covers the cost of my membership dues times ten. . With the
wealth of experience available here, I can get information that would be difficult to come by anywhere else. I echo the sentiments of some of those before
me, I wish I could give as much to the website as I get from it. Thanks to all for your invaluable advice and comments during the past tax season!! Thanks
you for the superb quality of this site. I do so few returns, but get (and don’t contribute) so much from it! What a great resource for the sole practitioner!!
Thank You for the invaluable support to those in the collective we call the ListServe :) Two things I so much enjoy from this group is 1) always being able to
learn something new, and 2) the reminders that the wackiness I encounter in my clients isn't unique to me, and 3) if I wasn't so sleepy I'd remember number
3 …. Lol You all are the best!! I too would like to add my thanks to all the wonderful participants in this list serve. While I am semi‐retired, the information
provided is invaluable to assist in the preparation of the remaining clients whom I still service. Best wishes to all for a restful post tax season. Enjoy, before
you tackle the extensions. My thanks to everyone that assisted in any and all ways this season. My last return before the clock strikes midnight was just
transmitted, so I am off. In the immortal of words of the beloved Truman character, “Good morning, good evening, and good night.” I agree with all. The
listserve is a tremendous resource to all. I have learned so much. Almost makes you want to form a new acctg firm ‐‐ MACPA & CO! As one of the many
lurkers who receives e‐mails and posts questions very infrequently, I speak only for myself when I say thank you to all who share their knowledge here. For
those who run small shops, this is a valuable resource for information. My heartfelt thanks for your generosity. Amen to that…I add my thanks!!! Now…off
to a week of NOT coming to the office, answering phones, answering emails, etc…. Many thanks to all those who asked and those who answered. I would
like to thank everyone who offered words of wisdom on the list serve. Its amazing how much insight you gain from the collective wisdom of the group. I
really appreciate the time and effort that everyone put forth, especially the 10 or 15 ‘heavy lifters’ who seem to respond to any question quickly. Thanks
everybody for the additional support and welcomed contributions! Amen. I only wish I could add as much as I get. At the risk of being redundant…I add my
thanks for the many timely and helpful replies. It is precisely because I value the input from so many folks brighter and more knowledgeable than I, that I
try to take time out and answer on the odd occasion I have something to add. I would argue that, for those of us without a large firm “ivory tower” to turn to,
this has become one of the greatest tools/benefits offered by MACPA. THANK YOU ALL AGAIN!! I must get on the band wagon also and thank everyone
who utilized the listserve. It has been invaluable. Questions asked reminded me that I may have the same problem and the answers given have been helpful
and informative. You all are such a wonderful help! THANK YOU! Another thank you for the listserv especially to: Those of you who are so very generous
with your time and expertise. Those of you whose questions make my clients seem not so bad. Those of you who have taught me that the IRS instructions
are really very useful and to just try looking it up. Those of you who made me laugh. Certainly this is the best CPE there is, even if we do not get credit for it.
Ditto. I couldn't have said it better myself. I hope everyone gets some time to rest and relax! Thanks to all, enjoy the off season. I couldn’t agree
more. Thanks particularly to the “heavy lifters” who seem to respond to almost every question with insights, cites and great advice. I must also add my
thanks to all who participated on the listserve. Many times answers to questions were provided even before I had time to ask them.
89. Key events & dates
Gov’t / NFP Conf ‐ Apr 29, 2011 ‐ U of MD
Employee Benefit Conf ‐ May 10, 2011 ‐ Columbia
MACPA Business & Industry Conference ‐ May 20, 2011 – Turf Valley
MACPA Summit ‐ Jun 2 & 3, 2011 ‐ BWI
Beach Retreat ‐ Jul 5 – 7, 2011 ‐ OC
CPA Day in Annapolis ‐ Jan 18, 2012 ‐ Annapolis
90. Executive Level Learning
MACPA’s affiliate, the Business Learning Institute
(BLI) delivers competency-based curriculum for
managers and executives:
Strategic Management
Business Management
Performance Measurement Management
Leadership Development
Communications Skills
91. Resources
Products / Services
Business Solutions
• RJP Insurance
• AON
• Purchasing Power
of the profession
– Savings of up to
70% off!
93. How Leadership is changing?
From To
• Information Stocks • Information Flows
• Hierarchy • Network
• Centralized • Distributed
• Teacher • Facilitator
• Push • Pull
94. How to survive the Extreme Future?
• A future vision – a clear vision of
where you are going
• A sound strategy to get you there
• Tools to help persuade key people
• Effective execution
Source: Dr. James Canton, Ph.d – author of the Extreme Future
95.
96.
97. “It is hard to plan for the long term future when you don’t
know what is going to happen five minutes from now.
Today, a competitive edge is thin and temporary; the edge
quickly becomes the margin. The ability to define the edge,
and the ultimate competitive advantage, is found in the
smarts, heart and ingenuity of your people - that's your
powerhouse. Tap that, train it, focus it and mobilize it; now
you've engaged a network and inspired a sustainable shift.
Insight to action, one without the other is either useless or
destructive.”
-Tom Hood & Gretchen Pisano
co-authors of the i2a: Insights to Action
Strategic Thinking System
http://www.bizlearning.net/live/i2astrategicplanning
99. Tom Hood, CPA.CITP
CEO
Maryland Association of CPAs
Business Learning Institute
(443) 632‐2301
E‐mail tom@macpa.org
Web http://www.macpa.org
Blog http://www.cpasuccess.com