The accounting industry is expected to experience strong growth over the next decade. While accounting jobs and graduates are at record highs currently, the field is facing disruptions from new technologies that perform accounting work faster and more accurately than humans. However, CPAs can succeed by gaining skills like leadership, communication, strategic thinking, collaboration, and technology proficiency to work with automated systems rather than be replaced by them. The future success of CPAs will depend on their ability to continuously learn and adapt to an increasingly complex and fast-changing business environment.
10. 30 Future Forums
1,000 CPAs
Identified these top trends
What CPAs think about the future
http://www.bizlearning.net/live/i2afutureforums
11. In
1997,
the
CPA
profession
crowd-‐sourced
its
future
with
over
3,500
CPAs
in
the
CPA
Vision
Project
That
was
re-‐validated
in
2011
by
8,000+
CPAs
CPAs...
Making sense of a
changing and complex
world.
Core Purpose
Here is what they said…
Core Values
12. The
top
five
skills
for
CPAs!
• Leadership!
• Communications!
• Strategic thinking!
• Collaboration & synthesis!
• Technology Savvy!
13. Our
Vision
Statement
for
the
future
is:
(
mandates
to
ourselves
for
a
successful
future)
• CommunicaOng
the
total
picture
with
clarity
and
objecOvity,
• TranslaOng
complex
informaOon
into
criOcal
knowledge,
• AnOcipaOng
and
creaOng
opportuniOes,
and
• Designing
pathways
that
transform
vision
into
reality.
CPAs are the trusted professionals who enable
people and organizations to shape their future.
Combining insight with integrity, CPAs deliver value by:
14. CPAs
are
trusted
advisors
who,
combining
insight
with
integrity
deliver
value
by:
T
Communica)ng
the
total
picture
with
clarity
and
objecOvity
Transla)ng
complex
informaOon
into
criOcal
knowledge
An)cipa)ng
and
creaOng
opportuniOes
Turning
insights
into
ac)on
to
transform
vision
into
reality
21. The Next Gen CPA Leaders…
1. are proactive, flexible, adaptive and collaborative by nature;
2. have regained the trust of their clients and the public at large;
3. have successfully bridged the profession’s “leadership gap” by
focusing on succession planning, personal growth, and
generational cooperation;
4. have created the profession’s premier global industry
standards and best practices;
5. have redefined the profession through work / life integration,
collaboration, and a team-first approach; and
6. have earned a reputation as technological innovators.
22. How?
1. Professional unity
2. Work / life integration
3. The evolving nature of
leadership and new
leadership models
4. Proactive, goal-focused
planning
5. Networked
collaboration
6. Embracing and adopting
new technologies
From:
To:
Hierarchy
Network
Transactions
Relationships
Efficient
Effective
Well managed
Well led
Command & Control
Connect &
Collaborate
Push
Pull
Good
Great
24. Caused by this guy…!
The exponential growth in computing power
has caused an explosion of new technologies
and software that is on the order of a
“Cambrian explosion” challenging accountants
to keep up.
26. You can’t beat the machine…!
But you can win if you work with the machine…!
27. Picture: John Drake - Flickr!
“…where the most important skill is the ability to
acquire new skills…” - Robert Safian - FastCompany!
28. T!
“In
a
period
of
rapid
change
and
increasing
complexity,
the
winners
are
going
to
be
the
people
who
can
LEARN
faster
than
the
rate
of
CHANGE
and
faster
than
their
COMPETITION.”
-‐
Tom
Hood,
CPA.CITP.CGMA!
6/24/13!
29. The
top
five
skills
for
CPAs!
• Leadership!
• Communications!
• Strategic thinking!
• Collaboration & synthesis!
• Technology Savvy!
31. “If content is king, context is the
kingdom” – Will Avgerakis
32. Business Landscape
Main Street
Owner begins to
delegate
“Focus on
growth”
Bu28 Million U.S. Small Businesses
Mid-Market
Delegation:
departments
“System thinking”
.6M
businesses
24 million
employees
3.2 million businesses
26 million employees
24 million businesses
22 million solopreneurs
27 million employees
Personal Businesses
Consumer &
Business blur
0-5 Employees
Wall Street
Public Companies
Total 15,000
Listed 5,008
Public
Accounting
Business, Industry,
Government & NFP
44,000 Firms –
250,000 CPAs
250,000 CPAs
Big Four
Top 100 > 70 CPAs
400 > 22 CPAs
800 > 10 CPAs
10,000 > 2 CPAs
33,000 Sole CPAs
CFOs, Controllers,
Analysts
33. A profession has three major
attributes
• A distinct and evolving body of knowledge
• A commitment to the public interest –
licensed by the government
• A code of conduct and ethics
State of Maryland
CPA License
34. How to become a Certified Public
Accountant?
The four E’s (State of Maryland Example)
1. Education – (150 hours) Bachelor’s degree + 30
credit hours
2. Examination – Pass the Uniform CPA Exam
3. Ethics – Maryland requires a separate ethics
course and examination
4. Experience – 1 year of experience working with
a CPA
And CPE – - 80 hours of Continuing Professional Education
reported every two (2) years, including four (4) hours of
ethics training
35. 35
A leader s
job is to
define
context and
provide
hope and
inspiration..."
36. 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 !