Sage Vision to Strategy Workshop & State of Accounting Profession session recaps from the 2014 MACPA Beach Retreat in Ocean City, Maryland. The Sage Vision to Strategy Workshop hosted by Ned Campbell of Sage and facilitated by Pam Devine and Tom Hood of MACPA's Business Learning Institute. This session provided a workbook based on the i2a: Insights to Action Strategic Planning Process for a group of small CPA firms to develop a vision, strategy and plan for action. The State of Accounting session featured updates from Mark Koziel, AICPA VP and Tom Hood, CEO of MACPA. Mark and Tom then facilitated a working session to identify the top challenges facing the group.

1. MACPA
beach retreat recap
Sage vision to strategy workshop
July 2-5, 2014
Clarion Conference Center
Ocean City, MD

2. Tom Hood, CPA, CITP, CGMA!
Tom Hood, CPA, CITP, CGMA
CEO
MACPA www.macpa.org
and
Business Learning Institute (BLI)
www.blionline.org!
http://www.linkedin.com/in/tomhood/!
If there is a conversation about the future of
the profession, you're bound to hear Hood's
name mentioned as one of the people
leading the way.
– Accounting Today Magazine!
• Named the Second Most Influential in
Accounting by Accounting Today Magazine
2013
• Linked-In Top 150 Influencer
• Top 25 Influencers in Learning & HR by HR
Examiner
• Top 25 Thought Leaders in Public Accounting
by CPA Practice Adviser
• Working on Learning Management with AICPA/
CPA2Biz, Cloud Curriculum, Performance
Management !

3. The Challenge

4. What is the #1 reason organizations fail?

5. Sage vision to strategy workshop
This workshop is designed to guide participants through a strategic
planning process that creates a vision for their future firm or
career based on hindsight (history), foresight (future trends), and
insight. Participants come away with an action plan and next steps
to implement their plan.

6. What does the world Really want
from us, next?
• In other words, what opportunities
unfold if you put yourself in service to
and take your direction from the people
in the world you most want to succeed
and who most want you to succeed?
• What do the underlying trends suggest
could be possible future states?
• Where is there a small but growing
trend and where is there opportunity?

7. Working on their future

8. The top Trends
Here are the key trends identified by the workshop group, which they used to check their individual thinking against, given them the
wisdom of the crowd.

10. The 'v' word
Vision
We pulled our values from our history
And referred to Simon Sinek for our
Purpose or 'Why'
We used Jim Collins
vision framework
from 'Built to Last' to
explain the two
components of a
vision. The core
ideology rarely
changes, while the
envisioned future
changes with the
environment.

11. Everyone left with a vision, strategy, and action plan
And a big thank you to Sage for sponsoring this program!

12. State of the accounting profession
Mark Koziel - AICPA VP
Tom Hood - MACPA CEO

13. American Institute of CPAs® Private Companies Practice Section
2013PCPSCPAFirmTopIssues
FIRMS
WITH
6-­‐10
PROFESSIONALS
FIRMS
WITH
11-­‐20
PROFESSIONALS
FIRMS
WITH
21+
PROFESSIONALS
1 SUCCESSION
PLANNING
1 BRINGING
IN
NEW
CLIENTS
1 PARTNER
ACCOUNTABILITY
&
UNITY
2 FINDING
QUALIFIED
STAFF
2 FINDING
QUALIFIED
STAFF
2 BRINGING
IN
NEW
CLIENTS
3 BRINGING
IN
NEW
CLIENTS
3 SUCCESSION
PLANNING
3 RETAINING
QUALIFIED
STAFF
4 RETAINING
QUALIFIED
STAFF
4 RETAINING
QUALIFIED
STAFF
4 SUCCESSION
PLANNING
5 PARTNER
ACCOUNTABILITY
&
UNITY
5 RETENTION
OF
CURRENT
CLIENTS
5 FINDING
QUALIFIED
STAFF
SOLE
PRACTITIONERS
1 KEEPING
UP
WITH
CHANGES
AND
COMPLEXITY
OF
TAX
LAWS
2 BRINGING
IN
NEW
CLIENTS
3 SEASONALITY/WORKLOAD
COMPRESSION
4 RETENTION
OF
CURRENT
CLIENTS
5
THE
EFFECT
ON
FIRMS
OF
NEW
FED
&
STATE
REGULATION
AND
INCREASING
COSTS
TO
COMPLY
FIRMS
WITH
2-­‐5
PROFESSIONALS
1 KEEPING
UP
WITH
CHANGES
AND
COMPLEXITY
OF
TAX
LAWS
2 SUCCESSION
PLANNING
3 FINDING
QUALIFIED
STAFF
4 BRINGING
IN
NEW
CLIENTS
5 SEASONALITY/WORKLOAD
COMPRESSION

14. American Institute of CPAs® Private Companies Practice Section
SOLE
PRACTITIONERS
2013
2011
2009
2007
1 Keeping
up
with
changes
and
complexity
of
tax
laws
Keeping
up
with
changes
and
complexity
of
tax
laws
RetenUon
of
current
clients
Tax
complexity
and
change
2 Bringing
in
new
clients
RetenUon
of
current
clients
Keeping
up
with
changes
and
complexity
of
tax
laws
The
effect
on
firms
caused
by
new
regulaUons
and
standards
3 Seasonality/workload
compression
Bringing
in
new
clients
The
effect
on
firms
caused
by
new
regulaUons
and
standards
Keeping
up
with
standards
4 RetenUon
of
current
clients
Keeping
up
with
accounUng
and
a[est
standards
Keeping
up
with
standards
Keeping
up
with
technology
5
The
effect
on
firms
caused
by
new
federal
and
state
regulaUons
Seasonality/workload
compression
Work/life
balance
iniUaUves
Work/life
balance
iniUaUves
14
PCPS CPA Firm Top Issues

15. American Institute of CPAs® Private Companies Practice Section
FIRMS
WITH
2-­‐5
PROFESSIONALS
2013
2011
2009
2007
1 Keeping
up
with
changes
and
complexity
of
tax
laws
Bringing
in
new
clients
RetenUon
of
current
clients
Finding
qualified
staff
2 Succession
planning
RetenUon
of
current
clients
Keeping
up
with
changes
and
complexity
of
tax
laws
The
effect
on
firms
caused
by
new
regulaUons
and
standards
3 Finding
qualified
staff
Keeping
up
with
changes
and
complexity
of
tax
laws
The
effect
on
firms
caused
by
new
regulaUons
and
standards
Tax
complexity
and
changes
4 Bringing
in
new
clients
Seasonality/workload
compression
Keeping
up
with
standards
Keeping
up
with
standards
5 Seasonality/workload
compression
Keeping
up
with
accounUng
and
a[est
standards
Work/life
balance
iniUaUves
Retaining
qualified
staff
15
PCPS CPA Firm Top Issues

16. American Institute of CPAs® Private Companies Practice Section
FIRMS
WITH
6-­‐10
PROFESSIONALS
2013
2011
2009
2007
1 Succession
planning
Bringing
in
new
clients
RetenUon
of
current
clients
Finding
qualified
staff
2 Finding
qualified
staff
RetenUon
of
current
clients
Retaining
qualified
staff
The
effect
on
firms
caused
by
new
regulaUons
and
standards
3 Bringing
in
new
clients
Retaining
qualified
staff
The
effect
on
firms
caused
by
new
regulaUons
and
standards
Retaining
qualified
staff
4 Retaining
qualified
staff
Keeping
up
with
changes
and
complexity
of
tax
laws
Keeping
up
with
changes
and
complexity
of
tax
laws
Keeping
up
with
standards
5
Owner/partner
accountability
and
unity
Fee
pressure/pricing
of
services
Bringing
in
new
clients
Succession
planning
16
PCPS CPA Firm Top Issues

17. American Institute of CPAs® Private Companies Practice Section
FIRMS
WITH
11-­‐20
PROFESSIONALS
2013
2011
2009
2007
1 Bringing
in
new
clients
Bringing
in
new
clients
RetenUon
of
current
clients
Finding
qualified
staff
2 Finding
qualified
staff
Owner/
partner
accountability
and
unity
The
effect
on
firms
caused
by
new
regulaUons
and
standards
The
effect
on
firms
caused
by
new
regulaUons
and
standards
3 Succession
planning
RetenUon
of
current
clients
Retaining
qualified
staff
Retaining
qualified
staff
4 Retaining
qualified
staff
Succession
planning
Bringing
in
new
clients
Keeping
up
with
standards
5 RetenUon
of
current
clients
Finding
qualified
staff
Keeping
up
with
standards
Succession
planning
17
PCPS CPA Firm Top Issues

18. American Institute of CPAs® Private Companies Practice Section
FIRMS
WITH
21+
PROFESSIONALS
2013
2011
2009
2007
1 Owner/partner
accountability
and
unity
Owner/partner
accountability
and
unity
RetenUon
of
current
clients
Finding
qualified
staff
2 Bringing
in
new
clients
Bringing
in
new
clients
Owner/partner
accountability
and
unity
Retaining
qualified
staff
3 Retaining
qualified
staff
RetenUon
of
current
clients
Succession
planning
Developing
new
partners
4 Succession
planning
Fee
pressure/pricing
of
services
Bringing
in
new
clients
Work/life
balance
iniUaUves
5 Finding
qualified
staff
Succession
planning
Retaining
qualified
staff
(1)
Management
of
human
resources
(2)
Seasonality/workload
compression
18
PCPS CPA Firm Top Issues

19. American Institute of CPAs® Private Companies Practice Section
PCPS CPA Firm Top Issues
! Succession, succession, succession
! Client retention and client acquisition remain a priority
! Human capital concerns are back — finding and retaining qualified staff are in
the top five for all
firm sizes with more than two professionals
! Keeping up with tax laws and workload compression are the biggest concerns
for small firms
! Owner/partner accountability and unity remain issues for larger firms
19

20. American Institute of CPAs® Private Companies Practice Section
Professional issues & initiatives
! Advocacy
• Fed/State Legislation &
Regulation
• Government Fiscal Responsibility
• Tax
• Uniformity & Mobility
• Public Policy Issues
! People
• CPA Exam
• Young CPAs
• Student Recruitment
• Diversity & Inclusion
• Learning & Education
! International
• IFRS
• ISAs
• CGMA
! International CPA Exam
! Financial Literacy
! Prof. Excellence & Public
Interest
• Tax Preparer Registration
• FRF for SMEs
• Integrated Reporting
• Sustainability
• SOC Reports
• Private Companies Practice
Section
• Center for Plain English
Accounting
• Audit Quality
• Peer Review & Ethics
• Specialized Communities &
Credentials
• Business, Industry & Government
! CPA Reputation
! Competition & Risk
! Operational Excellence

21. The Shift Change
1. Leadership!
2. Learning!
3. Technology!
4. Generations!
5. Workplace!

23. Top challenges
After the updates by Tom and Mark, the group
identified the major challenges as follows:
1. Keeping up with technology
2. Succession planning
3. Staff development
4. Regulations & Tax
5. Communication

24. Tom
Hood,
CPA.CITP
CEO
Maryland
AssociaUon
of
CPAs
Business
Learning
InsUtute
(443)
632-­‐2301
E-­‐mail
tom@macpa.org
Web
h[p://www.macpa.org
Blog
h[p://www.cpasuccess.com