The document provides information about a professional issues update for MACPA members. It discusses trends affecting accountants, including the economy, connecting with peers and the profession, and protecting the profession from regulatory changes. It also outlines the MACPA's agenda to discuss insights on external and internal environments, finding strategic opportunities, and beginning a strategic planning process. The document aims to help members navigate challenges and opportunities in a changing business landscape.
The Company Secretary: Building trust through governance, was undertaken in collaboration with ICSA to examine the unique role of the company secretary, exploring what it takes to perform the role effectively and how a company secretary can become a highly valued contributing member of the board.
Over 200 people, including company secretaries, chairmen, NEDs and CEOs shared their thoughts and experience in the course of the project, and represented a range of board-level views from FTSE, SME and private, not-for-profit and public sector organisations.
The majority of respondents surveyed agree that the role of the company secretary is an important and unique function. However, many company secretaries suggest their role is largely taken for granted and often improperly utilised.
The key findings of this study illustrate how high-performing company secretaries ultimately help build trust, which results in good governance. Many company secretaries acknowledge that their individual discretion, freedom of choice, personal morals and ethics are important in positively impacting corporate judgement. Other respondents note how effectiveness is achieved through more than fixed administrative capabilities or technical knowledge. Respondents to the study highlight the role’s need for continuous engagement, using interpersonal skills to craft effective relationships. These capabilities evolve in a manner that constantly tests a company secretary’s understanding and often results in the critical appraisal of other board members’ roles.
The Company Secretary: Building trust through governance, was undertaken in collaboration with ICSA to examine the unique role of the company secretary, exploring what it takes to perform the role effectively and how a company secretary can become a highly valued contributing member of the board.
Over 200 people, including company secretaries, chairmen, NEDs and CEOs shared their thoughts and experience in the course of the project, and represented a range of board-level views from FTSE, SME and private, not-for-profit and public sector organisations.
The majority of respondents surveyed agree that the role of the company secretary is an important and unique function. However, many company secretaries suggest their role is largely taken for granted and often improperly utilised.
The key findings of this study illustrate how high-performing company secretaries ultimately help build trust, which results in good governance. Many company secretaries acknowledge that their individual discretion, freedom of choice, personal morals and ethics are important in positively impacting corporate judgement. Other respondents note how effectiveness is achieved through more than fixed administrative capabilities or technical knowledge. Respondents to the study highlight the role’s need for continuous engagement, using interpersonal skills to craft effective relationships. These capabilities evolve in a manner that constantly tests a company secretary’s understanding and often results in the critical appraisal of other board members’ roles.
LEAN MARKETING: GLI SPRECHI NELLE STRATEGIE DI MARKETINGAndrea Payaro
La letteratura è ricca di casi e di testi sulla filosofia lean (manufacturin, office, design accounting, etc), ma ancora poco è stato scritto sull'applicabilità della stessa al marketing. In questo articolo si vedono gli sprechi riconosciuti da Ohno in chiave di marketing.
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Email Marketing is one of the cheapest and most reliable marketing solution on the Internet today.
Most companies rely on Email Marketing techniques to generate leads / sales of their products and services
Global coal demand stalls after more than a decade of relentless growth: Annual IEA coal report sees market under intense pressure, reflecting Chinese economic restructuring and global environmental policies
LEAN MARKETING: GLI SPRECHI NELLE STRATEGIE DI MARKETINGAndrea Payaro
La letteratura è ricca di casi e di testi sulla filosofia lean (manufacturin, office, design accounting, etc), ma ancora poco è stato scritto sull'applicabilità della stessa al marketing. In questo articolo si vedono gli sprechi riconosciuti da Ohno in chiave di marketing.
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Email Marketing is one of the cheapest and most reliable marketing solution on the Internet today.
Most companies rely on Email Marketing techniques to generate leads / sales of their products and services
Global coal demand stalls after more than a decade of relentless growth: Annual IEA coal report sees market under intense pressure, reflecting Chinese economic restructuring and global environmental policies
Professional Issues Update / Town Hall update for CPAs in business, Industry, Government/NFP. Semi-annual update to help CPAs stay on top of the rapid changes in business and the CPA profession. Offered throughout the year as a member service - these popular programs are a place for CPAs to get current and share their latest issues and ideas to their professional home - the Maryland Association of CPAs.
How will the new 3 Rs – Recession, Regulation, and Recovery – affect you and your profession? How can you keep up with the increasing rate of change and complexity facing the CPA profession?
This Professional Issues Update, presented by MACPA's Executive Director and CEO Tom Hood, will help you make sense of this new world by covering the major changes happening at the global, national, and state level with new legislation, regulation, and standards. Come hear the latest updates on GAAP codification, new tax legislation (federal & state), XBRL, IFRS, Fair Value, and more as we help you keep up with accounting. You will also get the latest updates and review changes in CPA licensing and regulation including CPA exam requirements, new CPE rules, and multistate practice issues.
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.
Special Accounting Major presentation on a career in accounting and the job outlook for becoming a CPA.
This special session was in conjunction with the NABA Baltimore Chapter and the Tomorrow's CPA student group of MACPA.
This session featured six universities in Maryland - Towson University (host), Morgan, UMUC, University of Baltimore, Stevenson University, and University of Maryland.
MACPA CEO Tom Hood, voted second most influential leader in the CPA Profession in Accounting Today’s 2013 list of the Top 100 Most Influential People in Accounting (his ninth time on the list) sees five fundamental shifts facing accounting now – Leadership, Learning, Technology, Generations and Workplace. In a world of rapid change and increasing complexity, the winners will be those individuals and organizations who can keep their L>C², their rate of learning must be greater than the rate of change and greater than their competition. Tom’s updates are always popular for CPAs and include the latest trends and issues the profession is facing locally, nationally, and globally.
Special 2 hour Update provided to MACPA members at CPA Day in Annapolis on January 20, 2010. Part of our six-point plan to help CPAs during the recession, this 2 hour free CPE program covered the latest developments in legislation, regulation, and standards for CPAs at bothe the federal and state level.
What is the "New Normal" and what does it take to lead in turbulent times. This special presentation to the 2010 CCH User Conference explores the lates ttrends and issues and what it means to lead in the "new normal"
The presentation covers the six major trends faci
MACPA has led the CPA profession into this exciting virtual world platform. Tom Hood and his alter ego, Rocky Maddaloni will show you how virtual world’s like Second Life can be used for real training, conferences and meetings. You will learn how this fits within the Web 2.0/social media software spectrum, discuss possible uses, and see examples of real life business applications that can be done in Second Life.
MACPA Annual Meeting and Town Hall Professional Issues Update took place on June 18, 2015 at JHU in Rockville, MD. With a love audience of 165+ and another 200 via webcast it set a new record.
This includes the polls held during the session that identified the demographics, top challenges, and other key information from the membership.
MACPA works to keep it's members "future ready" and to be able to thrive in this rapidly changing and complex world. This update given every six months in interactive "town hall" meetings covers the latest developments in four major areas: 1) Lookout post - the latest trends and issues facing business and the Profession; 2) Laws, regulations and standards; 3) What MACPA is doing about these issues as a membership organization; and 4) How to keep their L>C, rate of learning greater than the rate of change, or to help CPAs find their competitive edge.
The current batches of trends revives around the "shift change".
The theme of the Northeast CPE Conference is "Today You Can See Tomorrow". Tom Hood is the opening presentation where he will focus on the forces affecting the CPA profession and set the context for the changing world of CPE (Continuing Professional Education). The theme is Leadership in the New Normal and how to lead in turbulent times.
Anticipating the future is hard. But in today’s fast paced world it’s more critical than ever. And there are techniques available that can help you mitigate innovation risk and be more effective at strategic planning. Daniel Burrus, one of the world’s leading futurists on trends and innovation and NY Times bestselling author, uses his success and expertise to teach others how to build their competency of anticipation.
In this session, Erik Asgeirsson, CEO of CPA.com, and Daniel Burrus will discuss:
The hard trends report gathered from firms at DCPA 2016
What this means for firms
How to capitalize on the opportunities created by these trends.
Get unstuck from analysis paralysis, and gain tools and inspiration to facilitate your firm’s growth with certainty!
Commerce Committee Presentation by Matthew Nemerson on January 20, 2011Paige Rasid
Matthew Nemerson gave a presentation about 2011 Introduction of key job growth and economic development issues for the Commerce Committee on January 20, 2011.
We can’t hide behind the web any longer, to get your company and yourself adaptable for the 21st century learn the real life story of how MACPA has used blogging, twitter, and other tools to reach out to current members and find new members. Learn what it was necessary for the MACPA to do this in order to keep up with the younger generation. Learn what it took to get there, what it takes to keep it up, and what wasn’t such a good idea.
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.
Similar to Piu keeping up with accounting - spring 2010 (20)
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
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.
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
This presentation was given to Loyola University (Maryland) Accounting Alumni Circle on November 18, 2015. It includes our latest research in trends and issues facing the accounting and finance profession from the Business Learning Institute.
It also covers the programs and initiatives of the Maryland Association of CPAs in the context of Hard Trends and our work with world renowned futurist, Daniel Burrus.
Gov't Regulation
Demographics and Talent Pipeline
Technology
The exponential pace of change has created an environment best described as VUCA. 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 commit to changing before you are being forced to. This session will show how to anticipate these trends and move from being a crisis manager to an opportunity manager.
• Anticipate marketplace trends that will shape future markets
• Understand emerging innovation faster
• Identify opportunities
• Develop clear actionable steps to accelerate growth for the
organization and its customers
Learning the skill of anticipation and being proactive for CPAs, accounting and finance professionals
In an effort to help our members be "future ready", MACPA has continued its tradition (since 2007) of holding four hour comprehensive professional issues updates for FREE all across the state of Maryland. Tom Hood, CPA, CITP, CGMA leads these engaging and participative sessions and covers the fast changing landscape of the accounting and CPA Profession. This year we added special guest from AICPA PCPS to discuss more resources for CPA firms and a special discussion of the AICPA-CIMA Joint Venture and the CGMA designation. Also included is the groundbreaking new learning system The Anticipatory Organization: Accounting and Finance Edition from Dan Burrus and customized with a group of accounting and finance professionals convened by MACPA and BLI.
Honest Reviews of Tim Han LMA Course Program.pptxtimhan337
Personal development courses are widely available today, with each one promising life-changing outcomes. Tim Han’s Life Mastery Achievers (LMA) Course has drawn a lot of interest. In addition to offering my frank assessment of Success Insider’s LMA Course, this piece examines the course’s effects via a variety of Tim Han LMA course reviews and Success Insider comments.
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
1. Welcome to the Spring
2010
Professional Issues Update
An Exclusive Benefit
For MACPA Members
“A pioneer in using social media and Web 2.0 technologies in
accounting, Hood (and his team at MACPA) has tapped his
expertise to roll out one of the most extensive sets of resources
in the country for helping CPAs handle the recession.”
- Bill Carlino, Editor Accounting Today Magazine 1
3. CPA Professional 2.0
1. Learning & staying
on the cutting edge
2. Managing my career
3. Doing my work
4. Interacting with
peers
5. Becoming a leader
in my field
Allen Blue – CEO of Linked In
4. Are you an untouchable?
A Washington lawyer friend recently
told me about layoffs at his firm. I
asked him who was getting axed.
He said it was interesting: lawyers
who were used to just showing up
and having work handed to them
were the first to go because with the
bursting of the credit bubble, that
flow of work just isn’t there.
But those who have the ability
to imagine new services, new
opportunities and new ways
to recruit work were being
retained. They are the new
untouchables.
5. What is the # 1 reason leaders (and their
organizations) fail?
5
9. You need new skills and new approaches
to ride these waves of change
Photo: Pratt’s surfing page
10. You will learn
to become a
navigator of
change using
BLI's I2A -
Insight to
Action strategic
thinking system
Sight Insight Create Communicate Inspire!
11. Five Qualities of Extraordinary Leaders
1. Sight - Ability to see emerging
patterns and shift perspective
when necessary
2. Insight - Ability to learn faster
than the rate of change in your
industry
3. Create - Ability to think
strategically and critically to gain
insights that create new
opportunities
4. Communicate - Ability to
collaborate inside and outside
your organization and to build
and sustain social networks of
people engaged in the work
5. Inspire – Ability to mobilize
support and engage others to
join you in ACTION
12. It’s not what you look at that matters, it is what
you see – Henry David Thoreau
“The faster you go, the further
ahead you have to see.”
15. Communicate
Extraordinary
leaders must be O
E W R
adept at network K
leadership – which T
S
is the building & N
sustaining of large
social networks of
people engaged in
the work.
Communicate
17. Today’s agenda
• What we see ‐ trends & issues we are
watching
• What do you see and what are your insights?
– External environment
– Internal environment – SCOT
• Finding the strategic opportunities for you
• Beginning of strategic planning process
Sight Insight Create Communicate Inspire!
19. The economy is still uncertain?
Economists offer a wide range of predictions...
Source: Banham, R. (2010 Mar 1). The shape of things to come. CFO Magazine.
20.
21.
22. The fact of the matter is, this is not a normal
downturn, this is a …fundamental re-SET!
- Steve Ballmer – CEO Microsoft
23. The Pace of Change is Accelerating Faster
“As it relates to science and technology, the rate of
change in the next decade, is likely to be 4 to7 times
faster than in the last decade. If it is 4x faster it would
be like planning for 2010 in 1890, if it is 7x faster it
would be like planning for 2010 in 1670.”
-Expert on Education Panel, The Aspen Institute, 2007
25. Connect
• Chapters
• Committees
• Conferences
• CPE events
• NYPN
• Educators
• Students
• Social Networks
26. Despite a turbulent economy,
learn how to make your business thrive
MACPA’s Business & Industry Conference
May 14 Turf Valley, Ellicott City
Topics:
• Annual Update
• National & Local Professional Issues Update
• Enterprise Risk Management
• The Virtual Workplace
• Strategic Planning
• Professional/Career Development
• Political & Social Changes in the Business Environment
• Economic Update
27. 2010 Event Schedule
www.macpa.org/events
April 30 GNFP Conference
May 14 Business and Industry
June 7 Employee Benefit Plan Audit
June 28-29 New! Maryland CPA Summit
June 30- July 3 Annual Beach Retreat
Sept 21 Government Contractors
Sept 13 & 14 Technology/AccountingWeb
Sept 27-28 Chesapeake Tax
Oct 4 International Conference
Oct 26 Practitioners’
Nov 1-5 Advanced Tax Institute
Jan 2011 Educator’s Conference
29. Protect
“No man’s life, liberty, or
happiness are safe when
the legislature is in session”
– Mark Twain
IRS 7216, FTC Red Flags, Sales Tax on
Services, Tax Preparer regulations, Wall Street
Reform Act, Sarbanes-Oxley Act…
31. Where do major changes come from?
Us – MACPA & AICPA Them
OR
32. An example of “us” - The 120/150
Hour CPA Exam Bill (HB 1137)
Changes the requirements to sit
for the CPA exam to allow you to
sit for the Exam upon
completion of 120 hours (and
the requirements of section 1 &
3) and get licensed upon
completion of the final 30 credit
hours (and the requirements in
group 2)
41. Landscape of Financial Regulatory
Reform
White House Senate Banking Committee
Financial
Regulatory
Reform
House Financial
Industry Groups Services Committee
42. Latest proposals -Wall Street Reform & Consumer
Protection Act - HR 4173
1. Promote robust supervision
and regulation of financial
firms
2. Establish comprehensive
regulation of financial
markets
3. Protect consumers and
investors form financial
abuse
4. Provide the government with
the tools it needs to manage
financial crisis
5. Raise international regulatory
standards & improve
international cooperation
http://www.financialstability.gov/docs/regs/FinalReport_web.pdf
43. Wall Street Reform & Consumer
Protection Act
• HR 4173
o Passed House floor vote (223‐202)
o Combines CFPA Act & Investor Protection Act
• Provisions
o PCAOB authority to scope the regulation of audits for all
broker‐dealers through rulemaking
o Exempts non‐accelerated filers from SOX Section 404(b)
• Progress
o Recognizes CPAs’ valuable advice and counsel
o Excludes sales of securities or extension of credit
44. Senate Version Introduced
• Dodd introduced Senate bill March 15
• Passed Senate committee March 22
• Establishes Financial Stability Oversight Council
• Grants greater powers to Federal Reserve
o Break up large entities that pose a “grave threat”
o Examine bank‐holding companies >$50 billion in assets
o Create Consumer Financial Protection Agency within Fed
• Includes version of Volcker Rule
• Proposes transaction fee to establish fund for future financial
collapse
45. “Red Flags” Rule
Fair and Accurate • Requires written plan for identity verification for
Credit anyone who is a “creditor”
• Defines “creditor” too broadly
Transaction Act
• AICPA , state societies wrote letters urging delay of rules
(enforcement delayed twice)
Implementation • Nov. 1 implementation date delayed to June 1, 2010
• AICPA released guidance for CPAs on Oct. 16
• AICPA continues to seek exemption for CPAs
Advocacy • ABA and subsequent AICPA lawsuits filed
46. Tax Issues
Disclosure of
Tax strategy Regulation of
uncertain tax Sec 7216
patents preparers
positions
Health care Estate tax AMT Tax reform
Valuation Workload Workforce
LIFO
discounts compression mobility
47. Tax Preparer Registration
Congress’ Concerns
• High error rate associated with Earned Income Tax Credit
• Consumer protection
IRS Proposal
• Registration of all paid tax return preparers; fee
• Preparer Tax Identification Number; subject to Circular 230
• Non‐affiliated tax preparers must:
• Pass “competency” exam
• Complete 15 hours education annually
48. Tax Preparer Penalty - 7216
• Temporary Regulations (12/29/09)
o Can filter newsletters to specific clients
o Can generally disclose scope of practice to potential clients
o Can disclose specific taxpayer information if required for qualify, peer
or conflict reviews
• Rev Rul 2010‐4 (12/30/09)
o No advance approval necessary to:
• Contact client regarding change in tax law or regulations
• To use unrelated third party to create, publish and distribute
newsletters
• Rev Rul 2010‐5
o Generally permits disclosure of specific taxpayer information as
necessary to the preparer’s professional liability insurance carrier
49. Estate Tax
• House action
o Proposed permanent extension of $3.5 million exemption, 45% rate
o Republicans wanted $5 million exclusion and 35% rate, or, as
an alternative, either total repeal or reducing the rate to that of long
term capital gains
• Meantime, total repeal
o Total repeal as of 1/1/10 but carryover basis
• Note – 1/1/10 not total carryover basis – get to step up 1.3 million of assets
(as selected by executor) and another 3 million if there is a surviving spouse
• AICPA position
o Consistency important
o Index exemption to inflation
o Conform exemptions for estate, gift, generation skipping and special
use valuation
o Portability of exemption between spouse so, if first to die, does not
use full exemption; residual amount automatically carries over to the
surviving spouse
50. Health Care and Taxes
• Patient Protection and Affordable Care Act signed into law March 23
• Health Care and Education Reconciliation Act of 2010 signed into law
March 30
• Numerous tax provisions within for individuals and employers, including:
o Premium Assistance Credit
o Small Business Tax Credit
o Excise Tax on Uninsured Individuals
o Medical Care Itemized Deduction Threshold
o Additional Hospital Insurance Tax on High‐Income Taxpayers
o Excise Tax on High Cost Employer‐Sponsored Coverage
o Tax on HSA Distributions
o Expansion of Adoption Credit, Adoption Assistance Programs
o Information Reporting
o Adult Dependent
o Medicare Tax on Investment Income
51. Looking to the Future
• 2011 top rates go up ‐ 36% and 39.6%
• Proposals not getting traction
o Increase capital gains rate to 20%
o Limit itemized deduction to 28% rate
• Proposals getting traction
o Taxing carried interest as ordinary income
o Codification of economic substance doctrine
o Impose limits on family limited partnership valuations
o LIFO repeal
o AMT “patch “ will happen
52. Standards Changes
• AS 5 - PCAOB
• IFRS – SEC International gets legs (again)
• Fair Value Accounting
• XBRL – SEC mandatory
• Codification Project – FASB
• Clarity Project – ASB
– Convergence with international
• Reliability Project (comps & reviews)
• DOL 403 (b) Plans
• Internal Control – COSO
• Fin 48 effective 2009
• Form 990 Changes
• Fraud & Forensic SAS 99
• FASB – IASB Convergence Project
53. Compilation and Review Standards
• SSARS No. 19 issued on December 30, 2009
• Represents the most significant changes to the compilation
and review literature since 1978
• How SSARS 19 differs from the April 2009 exposure draft
o SSARS 19 retains the concept of limited assurance rather
than moderate assurance
o Non‐independent review not part of SSARS 19
53
54. Clarity Project
• Convergence of auditing standards
• ASB redrafting all of the auditing sections in Codification of
Statements on Auditing Standards
o Apply the clarity drafting conventions and converge the
material with the ISAs
• Effective date is expected to apply to audits of financial
statements for periods beginning no earlier than December
15, 2010
55. Ethics and Independence
Codification
• Professional Ethics Executive Committee creating a single
source of easy‐to‐use guidance on AICPA ethics and
independence matters
• Restructure AICPA Code of Professional Conduct and
combine with related guidance
• Benefits
o Topically organized; simpler, easier and more intuitive to use
o Improved research capability
o Reduced time and effort in identifying differences with IFAC
Code
• Scheduled for 3 years ( through 2011)
56. SEC Roadmap released
Early adopters Large
can file using Accelerated
IFRS Filers Small-caps
2010 2014 2016
2011 2015
Official SEC Accelerated
decision filers –
point second
wave
58. Blue Ribbon Panel: Members
• Rick Anderson, Moss Adams, LLP • Terri Polley, FAF
(Chairman of BRP) • Steve Feilmeier, Koch Industries
• William Knese, Angus Industries • Krista McMasters, Gunderson
• Michael Menzies, Easton Bank and • Dev Strischek, SunTrust Banks, Inc.
Trust Company • Hubert Glover, REDE, Inc.
• Billy Atkinson, NASBA • Barry Melancon, AICPA
• Kewsong Lee, Warburg Pincus • Mark Vonnahme, Surety, Arch
• David Morgan, Lattimore, Black, Insurance Group
Morgan and Cain PC • David Hirschmann, U.S. Chamber of
• Daryl Buck, Reasor’s Holding Commerce
Company, Inc. • Jason Mendelson, Foundry Group
• Paul Limbert, WesBanco, Inc. • Teri Yohn, Indiana Univ.
59. Potential Versions of
Private Company IFRS
IFRS with
differential
reporting
U.S. Adapted (accent) Separate U.S.
version of Private Co.
Private Entities GAAP – Revised
(Dialect) (PCFRC)
Separate U.S.
IFRS SME
Private GAAP‐
Company Maintained
and Updated
62. 5 Forces of Globalization
1. Growth of consumers in emerging economies
2. Technologies that empower consumers &
communities
3. Increase in labor productivity in developed markets
4. Shift of economic activity between and within
regions
5. Increasingly global markets for labor & talent
63. It is not either global or local, it is AND…
Glocal
70. Generation Gap? Or Generation Lap?
Generations
“In 1997, young people for the first time were
recognized by adults as being authorities on
something truly revolutionary – digital technology,
interactive media, and collaboration.”
– Don Tapscott “Growing Up Digital”
NGenophobia—the irrational and morbid
fear of youth, especially with regards to
their use of the Internet
71. What are baby boomers most “clueless about”?
• Mom does not know how to
work the TV
• Computers-
do not let Dad touch it
• Technology in general
• Certain forms of technology
• Digital camera operation
• Boomers think work is
everything
72. Gen X – Stuck beneath the boomer ceiling
10 ways to breakthrough
1. Play to your strengths
2. Build your brand
3. Collaborate – create the context
for your success
4. Raid the candy store – learning &
development
5. Change the rules
6. Influence the organization
7. Influence the Boomers
8. Take initiative
9. Honor your commitments
10. Build & leverage your network
73. How to start the conversation
The eight Net Gen Norms
1. Freedom – The freedom to work when and
where you want
2. Customization – My job my life
3. Scrutiny – I know what you did last night
4. Integrity – Be a good company to work for
5. Collaboration – Teamwork
6. Entertainment – Work should be fun
7. Speed – Let’s make things happen now!
8. Innovation – Let me invent
74. Bottom Line: How to keep your star talent
• Engage your top performers
• Coach tomorrow’s leaders
• Manage your Millennials
Think AMP
• Autonomy
• Mastery
• Purpose
79. Technology & Web 2.0
By 2010, Millenials/Gen Y-ers will outnumber
Baby Boomers.
80. Here are five major benefits that The Economist
report says that social media has created:
1. Trusted online venues where real people
can meet up using their real identities.
2. New ways for firms and organizations to
reach their customers and those who
influence them.
3. Reduced friction in labor markets by
allowing employers and prospective
employees to find each other and connect.
4. Faster information flow and communication
inside companies and organizations.
5. A "free and immensely powerful set of
communication and collaboration tools to
everyone on Earth who has access to a
broadband internet connection."
83. Research says…
• To ban or not to ban? A recent University of
Melbourne study showed that people who use the
internet for personal reasons at work are about 9%
more productive than those who do not.
"One day at work they took away our tools, like
Facebook, Pandora, Bebo, NPR. Work is slow
now, cold and boring." —STEVE RESSLER, 27,
TAMPA, FLORIDA
In a social environment based on networked individualism, the
internet’s capacity to maintain and cultivate social networks has real
payoffs (in the workplace).”– “The Strength of Internet Ties” Report
84. Risk Management
• Educate & train your staff
• Set security & usage policies
• Restrict Access during certain
times (if you have to)
• Monitor – using search &
google alerts
88. Top 10 Issues Facing CPAs
1. Economic Outlook
2. Tax
3. Business Operations
4. Implementation and Execution
of Plans
5. New Business Development
6. Personal/Professional
Development
7. Management and Leadership
8. Financial Regulatory Reform
9. Access to Financing and Credit
10 New Accounting Standards,
IFRS
Source: CPA Trendlines for AICPA Feb, 2010
89. Top Ten Issues for MFG
1. Regulatory/Legislative (56)
2. Private Company Leadership (47)
3. Capital Markets Awareness / Recognition (34)
4. Rethinking Business Model (25)
5. Protect Audit/CPA Franchise (20)
6. Risk Management (Audit efficiencies) (20)
7. Leadership Development / Succession
Planning (19)
8. Global / International (Clients / IFRS /
Branding) (17)
9. Leveraging Technology & Social Media (17)
10. MFG Issues specific forums / focus groups (8)
89
90. PCPS/TSCPA MAP Survey 2009
Top Five Issues Facing Firms 21+
1. Client Retention
2. Marketing / Practice Growth
3. Tax Law Changes & Complexity
4. Keeping up with Regulations &
Standards
5. Retaining Qualified Staff /
Work/Life Balance
For larger firms add Partner
Accountability & Succession Planning Mark Koziel, CPA
AICPA PCPS
http://pcps.aicpa.org/
90
93. Are you a value integrator?
Efficiency, insight, integration
1.Scorekeeper
2.Disciplined operators
3.Constrained advisors
4.Value Integrators
http://www.ibm.com/cfostudy
94. # 1 Gap is developing people in Finance
Source: 2010 IBM Global CFO study
95. Image of the CPA
The future success of the CPA profession relies a
great deal upon public perception of CPAs'
abilities & roles
- CPA Vision Project
97. CPA re:Vision –the wisdom of the crowd
Our core purpose, our reason
for being is
CPAs...
Making sense
of a changing
and complex
Here is what they
said…
world.
98. Top 5 Competencies needed to ride the
waves of change
• Communication &
Leadership
• Strategic & Critical Thinking
• Focus on the Customer,
Client, and Market
• Interpretation of Converging
Information
• Technologically adept
99. Top 5 Attributes of CPAs
• Has integrity
• Competent
• Objective
• Able to synthesize
information
• Focused on client
needs
99
100. Bottom Five Attributes of CPAs
• Creative & innovative
• Demonstrates leadership
• Able to see the big picture
• Communicates effectively
• Technologically adept
101. CLO Magazine
Stephen Miles, vice chairman of Heidrick &
Struggles, an executive recruitment firm, said this:
"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."
102. Accounting is the quickest path to
the corner office
1. Broader and longer line of
sight (future focus)
2. Network leadership
3. Strong analysis skills
(financial and
operational)
4. Communication skills
5. Global perspective
Top 5 skills of the post-recession leader
– CLO Magazine
103. Top 10 Opportunities for CPAs
1. Valuation 6. Green / sustainability
2. Forensics and fraud 7. XBRL
3. Governmental – 8. Tax planning
State/local/NFP 9. Enterprise Risk
4. International Management
(IFRS and tax) 10. Renewable energy
5. Health care
104. How to increase your odds of roaring
out of the recession from HBR
1. Focus on operational efficiency (smart
spending and targeted headcount
reduction for efficiency versus across-
the-board headcount reductions).
2. Investment in developing new markets
(leveraging your product / service mix
into expanded markets -- geographic,
new segments or niches).
3. Investments in enlarging the asset
base. (In professional services, that is
training and development and strategic
staffing for new opportunities.) I call
this placing careful bets on the future.
http://www.cpasuccess.com/2010/03/how-to-beat-the-odds-and-roar-out-of-the-recession.html
105. Are you indispensable?
Imagine an organization with an
employee who can accurately see
the truth, understand the situation,
and understand the potential
outcomes of various decisions.
And now imagine that this person
is also able to make something
happen.
This is our leader, our marketer,
our linchpin!
107. The meta map of the I2A™Strategic Thinking System provides an
architecture or framework to structure thinking and conversation as you
engage. When talking about complex issues that aren’t completely
understood, or debating solutions where there are multiple points of view, it is
easy 107get lost in the conversation and prematurely locked into a solution.
to
111. 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
Blog http://www.bizlearningblog.com
112. MACPA resources
• CPA Success, our daily blog
www.CPASuccess.com
• CPA Spotlight, our weekly podcast
www.macpa.org/podcast
• Other MACPA blogs:
• www.CPALegislativeInsider.com
• www.NewCPAs.com
• www.Bizlearningblog.com
• CPA Learning 2, a Web 2.0 playground by CPAs for CPAs
www.CPALearning2.com
112
113. Tools
• I2A – Insights to Action – a strategic thinking system
– http://www.bizlearning.net/learningcenter/customizedtraining/event_detail_inHouse.cfm?eventid=09IASTS
• CPA Vision project
– http://www.cpavision.org
• Social media – How are CPAs using social media
– http://www.cpasuccess.com/2009/09/how‐are‐cpas‐using‐social‐media.html
– Social Media Quick Start Program
– http://www.bizlearning.net/learningcenter/customizedtraining/event_detail_inHouse.cfm?eventid=09SOCMED
• XBRL
– http://www.xbrl.org
– Blog posts from CPA Success
– http://www.cpasuccess.com/2009/06/xbrl‐and‐government‐a‐marriage‐made‐in‐nevada.html
– http://www.cpasuccess.com/xbrl/
• Mindmanager CPA edition
– http://www.mindjet.com/cpas/mj.aspx
114. Professional Issues Update
Spring, 2010
Tom Hood, CPA.CITP
CEO & Executive Director
Maryland Association of CPAs
http://www.MACPA.org
tom@macpa.org
• Follow me on:
Twitter: http://www.Twitter.com/tomhood
LinkedIn: http://www.linkedin.com/in/tomhood
Facebook: http://www.facebook.com/thoodcpa
Plaxo: http://tomhood.myplaxo.com
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Second Life avatar name: Rocky Maddaloni