MACPA 2013 Spring PIU - GNFP

MACPA's semi-annual PIU series of Free four hour Professional Issues Updates for members. The Spring 2013 edition revolves around innovation and collaboration. This version covers the latest update from the Maryland General Assembly, Federal legislations, Accounting Standards, Cloud, generations in the workplace, and innovation. These update hit over 20% of our membership annually reaching 2,000+ CPAs in all segments of our Profession - Public Accounting, CFOs, Controllers, GNFP, and more...

MACPA 2013 Spring Professional Issues Update

MACPA Professional Issues Update - Fall 2010 Edition

Human Capital Management - Skills, Education, Wages, Careers, and Job Vacanci...

Future of CPAs, CFOs & Accounting - Marriott Finance/Accounting

What is the Path forward for Canada

2010 Business & Industry Conference - National & State Issues

What is next for the CPC in terms of Foreign and Domestic Policies

Blog – Human Capital and Workforce Planning – Canada and the World Canada economy has been struggling for years due to excessive taxation and regulations. Jobs of today and tomorrow requires many years of education and skills certification A good chunk of jobs will be automated as part of business process changes. Immigration needs to be better tied to economic growth. 1. Job crisis – https://www.brightermonday.co.ug/discover/how-to-beat-the-unemployment-crisis-after-the-covid19 2. At risks jobs to automation - https://www.workandmoney.com/s/dying-professions-83f89af396e34d92 3. Automation - https://www.businessnewsdaily.com/9835-automation-tech-workforce.html 4. Certification - https://www.simplilearn.com/highest-paying-jobs-in-canada-article 5. Housing - https://www.noradarealestate.com/blog/housing-market-predictions/ 6. FDI and Canada - https://www.advisor.ca/news/industry-news/foreign-direct-investment-crimped-by-covid-statscan/ (Decline with FDI in the goods-producing sector) 7. Competitiveness - https://financialpost.com/news/economy/labour-shortages-competitiveness-and-inflation-the-key-risks-to-canadas-economy 8. Inflation - https://www.bnnbloomberg.ca/economics/video/the-cost-of-everything-is-going-up-fast-and-we-re-in-it-for-the-long-haul-derek-holt~2384980 9. Middle class - https://www.fraserinstitute.org/studies/measuring-the-impact-of-federal-personal-income-tax-changes-on-middle-income-canadian-families-since-2015 10. Placement rates - https://www.ontario.ca/page/college-graduation-satisfaction-and-job-rates 11. Debt crisis - https://www.devex.com/news/world-bank-says-debt-crisis-in-lower-income-nations-is-alarming-102662 12. Soft skills demand - https://hr.economictimes.indiatimes.com/news/workplace-4-0/5-soft-skills-needed-in-2022-and-why-do-they-matter-in-the-workplace/89649862

Human Capital and Workforce Planning| Canada and the World

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.

MACPA - PIU Spring 2014 - Surviving the Shift Change

Canada's carbon tax and excessive regulations are hurting Canada’s ability to attract FDI. Canada could be a leader in ethical and environmental oil if Trudeau and his government did more to support the natural gas and oil sector. Canada's various sectors continue to struggle with capacity issues Liberals continue to pick and choose winners and losers when it comes to grants and subsidies. There is no real strategy to help businesses transition off fossil fuels. Canada is ranked at 87th capital invested

How to improve Canada Global Competitiveness

Blog – What is next for HR and Human Capital Management I have written many blogs on HR-related issues for many years. The closing of the skill gaps has still not been resolved. In fact, one could argue the skills gaps has increased due to many factors like business automation, industry 4.0, advance manufacturing, ESG reporting, movement to the circular economy, 3D housing, etc. More needs to be done to better align skills with jobs of today and tomorrow. 1. Job vacancies – https://www.linkedin.com/news/story/over-1m-unfilled-jobs-in-canada-4591585/ 2. Skill trades - https://discover.rbcroyalbank.com/powering-up-industry-voices-address-the-impending-talent-gap-in-skilled-trades/ 3. Immigration and alignment with skills gaps - https://canada.constructconnect.com/dcn/news/government/2022/01/industry-perspectives-op-ed-immigration-system-must-be-aligned-with-ontarios-labour-needs 4. Job quality - https://www.prepareforcanada.com/after-you-arrive/employment-in-canada/the-canadian-job-landscape-is-changing-will-you-be-ready/ 5. Automation - https://techjury.net/blog/jobs-lost-to-automation-statistics/#gref 6. Living wage - https://www.ft.com/content/d5f2ab19-dda0-4406-ae12-bdf65b9ad7e7 7. Wages - https://www.wisegeek.net/what-is-the-relationship-between-cost-of-living-and-wages.htm 8. GDP per capita - https://stacker.com/stories/2534/100-countries-highest-gdp-capita 9. Green inflation - https://www.ft.com/content/80cbd05f-d722-411f-9bbe-155cd8c06f7e 10. Jobs in demand - https://dailyhive.com/vancouver/in-demand-highest-paying-jobscanada-2022

How to build a workforce for Today and Tomorrows Economy

What is next for Canada - Throne Speech - September 23, 2020

2019 Election| Employment | TFW - Temporary Foreign Workers | Canada| June 2019

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

Accounting in a VUCA World - The Anticipatory CPA

Human capital management is becoming a critical issue for both the private and public sectors. I have written many blogs and presentations on human capital. The fix is not the difficult as it relates to the training and development of employees for current and future jobs. The old saying “Quality work demands quality people and product” 1. Wages - https://www.washingtonexaminer.com/restoring-america/community-family/should-america-follow-canadas-low-wage-high-immigration-model 2. November 2021 jobs - https://ca.news.yahoo.com/november-jobs-report-what-to-know-this-week-144428419.html 3. AI and jobs - https://www.koreatimes.co.kr/www/biz/2021/11/488_319499.html?tw 4. 2022 Automation - https://www.uipath.com/blog/automation/top-automation-trends-2022 5. Digital - https://www.zdnet.com/article/top-7-trends-shaping-digital-transformation-in-2022/ 6. Digital - https://venturebeat.com/2021/11/06/report-only-7-of-it-decision-makers-say-theyre-equipped-for-digital-transformation/ 7. Skills trades - https://www.northernontariobusiness.com/industry-news/training-education/province-announces-90m-to-promote-skilled-trades-4798564 8. Wages - https://www.cnbc.com/2021/11/10/inflation-has-taken-away-all-the-wage-gains-for-workers-and-then-some.html 9. Business investment - https://www.conference-board.org/research/us-forecast 10. Business investment - https://www.reuters.com/markets/rates-bonds/australia-q3-business-investment-slips-outlook-surprisingly-resilient-2021-11-25/

Human Capital and Workforce Planning| Canada and the World

Canada continues to face hurdles when it comes to addressing issues with productivity. 1. Canada productivity – https://cabe.ca/webinar/rhetoric-vs-results-shaping-policy-to-benefit-canadas-middle-class/ 2. Middle class - https://cabe.ca/webinar/rhetoric-vs-results-shaping-policy-to-benefit-canadas-middle-class/ 3. Supply chain - https://fortune.com/2021/12/01/port-of-vancouver-flooding-supply-chain-disruption-logistics/ 4. Mining - https://www.mining.com/canadas-mining-sector-top-target-market-for-fdi-deals-from-asia-pacific-region/ 5. Top manufacturers - https://clutch.co/ca/logistics/manufacturing-companies 6. Automation - https://www.prnewswire.com/news-releases/robot-race-the-worlds-top-10-automated-countries--international-federation-of-robotics-reports-301216237.html 7. Agriculture - https://www.realagriculture.com/2021/11/canadian-government-still-undecided-on-u-s-invitation-to-join-coalition-focused-on-agricultural-productivity/ 8. Canada is rank 13th on global resiliency for 2021 - https://newsroom.fmglobal.com/releases/denmark-bumps-norway-from-top-spot-in-the-2021-fm-global-resilience-index as compare to compared to 8th in 2015 - https://newsroom.fmglobal.com/releases/denmark-bumps-norway-from-top-spot-in-the-2021-fm-global-resilience-index 9. Australia continues to outpace Canada in terms of developing its natural resources in a sustainable way - https://www.fraserinstitute.org/studies/annual-survey-of-mining-companies-2020 or https://www.fraserinstitute.org/studies/annual-survey-of-mining-companies-2020 10. CAN’s natural resources wealth decline in 2020.The effective tax rate was unchanged from 2018 to 2019 for high-income earners. Dividend income led to rising in total income. https://www.slideshare.net/paulyoungcga/wealth-and-taxation-fairness-november-2021

How to improve Canada Global Competitiveness

The role of government is defined the educational programs required to support the economy. Too many govts across Canada have pushed programs that do not provide meaningful employment The world continues to change as such governments need to address all their policies that support economic growth Immigration should not be based on quota, but align where there voids in employment not filled by educational programs Canada needs to become more competitive through reducing its reforming areas like taxation, regulations, trade/fipa deals and hydro rates. All levels of government and the private sector need to fixed the education systems to ensure people have skills for today and tomorrow It is not one policy that supports human capital management but many policies

2019 Election| Skills Management| Career and Employment| Canada| September 2019

2019 Election| Human Capital and Skills Management| Canada| September 2019

Impact of Under Employment - Canada - June 2018

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

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More from Tom Hood, CPA,CITP,CGMA

Creating the Magnetic Firm - Allinial HR Conference 2016

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.

Future of Learning - innovative new learning formats for accounting and finan...

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

Impact of Firm Wide Adoption - The Anticipatory Organization Accounting and F...

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!

Next Gen Leaders Report from the AICPA EDGE Conference 2016

“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

Anticipatory Organization: Accounting and Finance Edition (AOAF)

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.

Will your firm thrive or just survive? Anticipation - The critical competency...

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

It May be Time to Reinvent Your Firm - CPAFMA National Practice Management Co...

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.

Future Ready CPA firm - keynote CPA FMA

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.

COCPA - The Anticipatory Individual and Organization

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.

Leadership in a VUCA World - AICPA PSTECH 2016

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.”

How to Accelerate Growth, Innovation, and High Performance for CPAs, Account...

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 Firm of the Future - 2016 AAM InNEWvation Summit

CPA Vision 2011

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.

MACPA Spring 2016 Professional Issues Update - Business & Industry Edition

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.

An Accounting Career: Big Waves of Change and Oceans of Opportunity

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?

State of My Industry: Accounting 2016

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.

Competencies for Accounting and Finance Professionals - 2016 Edition

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.

Innovation is Not Just for Technology Companies Anymore

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

Firm learning strategy - a competitive advantage

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.

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