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State of Accounting: A Clarion Call for CPAs and Accountants to Get out of the Box

Are you future ready? Do you have the skills to deal with the disruptive forces at work in the market today?

A recent study by Oxford put the accounting and auditing profession at a 94% disruption by technology. In addition the profession is facing the massive “shift change” as a new generation begins to take the reigns from the retiring baby boomers.

Major shifts in leadership, learning, technology, generations, and the workplace are underway. Except this time it is different. This time the incoming shift will require a new set of skills and tools to continue the work of the prior shift. The cause of the shift change is the rapidly changing and complex hyper-competitive environment which has become the new normal.

The key to managing this shift change is a very simple, but very big idea – develop your talent and Keep your L>C.

Tom Hood shares his perspective on how the profession is responding and what you should be thinking about to position yourself for these changes ahead. As the second most influential person in the CPA Profession, Tom was involved in creating a vision for CPAs into the year 2025. That vision talks about how accounting professionals can move up the value chain and the skills you will need to grow and avoid disruption. Tom will share the latest research and real world experience with his work at the Business Learning Institute. Participants will learn about the latest trends and techniques to navigate this “shift change” as leaders of organizations and as individuals.

Tom also introduces the latest research from the Business Learning Institute about the "missing competency" of anticipation and the related "future ready" skills needed by CFOs, Controllers, CPAs, and accounting and finance professionals.

Their new innovative e-learning program on creating the anticipatory organization can be found here

This presentation was made at the Sage Summit 2015 in New Orleans, LA.

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State of Accounting: A Clarion Call for CPAs and Accountants to Get out of the Box

  1. State of Accounting: Time to Get Out of Speaker: Tom Hood, CPA, CITP, CGMA Session Number: SA-60 Date/Time: July 30, 2015 2:30pm-3:15pm Speaker Twitter Handle: @tomhood
  2. tents of this presentation were provided by the individual(s) an y listed on the title page. The information and opinions present ation may not represent the positions, strategies, or opinions of explicitly stated, Sage is not responsible for the content herein ments are implied. Sage Software, Inc. All rights reserved. Sage, the Sage logo, an oduct and service names mentioned herein, are trademarks of e, Inc. or its affiliates. All other names used in this presentation ional purposes only and may be trademarks of their respective @tomhood
  3. Leave me alone I spent thirty yea building this box
  4. Cloud computin of small businesses demanding cloud-ba computing 61% YET, Only 10% o cloud to work with
  5. www.b M Insight into the CPA of the Future Study 2014 nly 8% of CPAs are Future Rea Future Ready is to be aware, pr adaptive of emer tech innovation and changes population, environ
  6. Gradual then Sudden
  7. BnB Rooms available surpasses Hilton & Marr
  8. rate of change on the outside exce te of change on the inside, the end i – Jack Welch
  9. Will your job be done by a machin
  10. and Employers want o offer PROACTIVE and insights that are ble about the future!
  11. Five Steps to Get Started 1.  Focus on the Futu 2.  Start with Certain Find Opportunitie 3.  Learn New Skills 4.  Protect the Core &Values 5.  Collaboration & Relationships are k
  12. Why are windshields so much bigger
  13. trusted advisors who help and organizations shape their ombining insight with integrity ver value by: nicating the total picture with clarity ectivity; ng complex information into critical ge; ting and creating opportunities; ng pathways that transform vision Source:AICPA: CPA Horizon
  14. Adding Insight for Action Information Wisdom Knowledge Datay ence lity
  15. rt With Certainty & F Opportunities
  16. Cloud computin of small businesses demanding cloud-ba computing 61% YET, Only 10% o cloud to work with
  17. OPPORTUNITY Technology’s impact on firm service lines fficiencies nnovation • Efficiencies • Innovation • Transformativ • Revenue Grow w Opportunities Emerging Dramatic Cha Audit Tax Accounti service
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  19. N   king   eness   earning   ng   men   ersuading   elligence   ilding   ment   cipation –The Critical Compete •  Anticipating and reacting to the nature and speed of change. •  Acting decisively without always having clear direction and certainty. •  Navigating through complexity, chaos, and confusion. •  Maintaining effectiveness despite constant surprises and a lack of predictability.
  20. t rity ectivity llence ong Learning tect the Core AND Stimulate Prog
  21. he future is about relationship
  22. Top Five Barriers 1. Not enough time 2. Being reactive ver proactive. 3. Doing more with 4. Information overlo (standards and regulations). 5. Managing change.
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  27. Download today’s slides at …
  28. If there is a conversation about the future profession, you're bound to hear Hood's n mentioned as one of the people leading th way. – Accounting Today Hood, CPA, CITP, CGMA CPA Practice Adviser Accounting Hall of Fam Named the Second Most Influential in Accou Accounting Today Magazine 2013 Top 150 Influencer by Linked-In Top 25 Influencers in Learning & HR by HR E Top 25 Public Accounting Thought Leaders Practice Adviser Working on Learning Management with AIC Cloud Curriculum, Performance Managemen Leadership & Generations ciation of CPAs ning Institute (BLI) org