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Tom Hood, CPA, CITP, CGMA
CEO
Maryland Association of CPAs
Business Learning Institute@tomhood
The Top Skills Needed for A...
VUCABorrowed from the US Army War College, VUCA was coined by
The Institute for the Future to describe the rapidly changin...
1. Artificial intelligence, machine learning, and
cognitive computing in audit and tax
2. Big Data and high-speed data ana...
The capacity to be anticipatory (aware,
predictive and adaptive) of emerging
technology and trends in business,
demographi...
Source: Forbes / KPMG Audit 2025 - The Future is Now
In a period of rapid change and increasing complexity, the
winners are going to be the people who can LEARN faster
than th...
Future Ready Competencies
in the Age of Machines
Our Research:
Future Ready Competency Matrix
© Copyright Business Learnin...
The skills finance and accounting professionals will need in the future
and the emergence of the T-shaped professional.
#F...
Future Ready Competencies in the Age of the Machines
Leadership
Anticipating and
Serving Evolving
Needs
Strategic & Critic...
Organizational
Leader
Individual
Contributor
Manager
the Bounce
© Copyright Business Learning Institute 2017
BLI Competency & Career Path
Leadership
Anticipating & Serving
Evolving Needs
Strategic & Critical
Thinking/Synthesizing
I...
You may have heard of SaaS (software as a service).
Subscription, cloud-based services like Salesforce,
Gmail and Google A...
• Anticipation
• Strategic Thinking
• External Awareness
• Vision
• Continuous
Learning
• Innovation
• Creativity
• Proble...
Confidential – Internal Use Only
Culture = Mindset, Skillset, and Toolset
In order to remain competitive, to stay relevant...
blionline.org/ao
KNOW WHAT’S NEXT
Transform Planning
Ø Identify Hard Trends
Ø Identify Soft Trends
Ø Predicting Change
Ø T...
#FutureReady Competencies - Foundation
Module Common Leadership
Competencies
Know What’s Next Strategic Thinking
External ...
IBM – MACPA-BLI Partnership
Keeping you Future Ready
https://bdu.blifutureready.org
MBAExpress
Key MBA
Concepts in
hours, not years.
https://www.macpa.org/learning/mbaexpress/
If there is a conversation about the future of the
profession, you're bound to hear Hood's name
mentioned as one of the pe...
Top 7 skills for CPAs, accounting and finance professionals in 2018
Top 7 skills for CPAs, accounting and finance professionals in 2018
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Top 7 skills for CPAs, accounting and finance professionals in 2018

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Top 7 skills for CPAs, accounting and finance professionals in 2018

In order to thrive in the Fourth Industrial Revolution, CPAs, Finance and Accounting Professionals will be challenged in both what and how they learn.

This presentation covers extensive research by the Business Learning Institute, an affiliate of the Maryland Association of CPAs over three years and included the surveying of thousands of CPAs and finance professionals all over the globe to determine way to becoming #FutureReady.

The key findings show seven critical competencies as follows:

1. Anticipating and Serving Evolving Needs
2. Strategic & Critical Thinking
3. Collaboration and Integration
4. Leadership
5. Communication
6. Tech-savvy and Data Analytics
7. Functional and Domain Expertise

These form a T-shaped professional with the fist five competencies spread horizontally across the top of the 'T' representing 'boundary-crossing' skills on top of the vertical part which has the deep domain knowledge of accounting, tax, and industry specialization along with the tech and data expertise.
Contact us if you want to develop a custom curriculum for your accounting and finance professionals.

You can find out more at www.blionline.org

Published in: Business

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Top 7 skills for CPAs, accounting and finance professionals in 2018

  1. Tom Hood, CPA, CITP, CGMA CEO Maryland Association of CPAs Business Learning Institute@tomhood The Top Skills Needed for Accounting and Finance Professionals in an Age of Machines
  2. VUCABorrowed from the US Army War College, VUCA was coined by The Institute for the Future to describe the rapidly changing and complex business environment since the Great Recession of 2008. Volatility Uncertainty Complexity Ambiguity The New Normal
  3. 1. Artificial intelligence, machine learning, and cognitive computing in audit and tax 2. Big Data and high-speed data analytics 3. Adaptive and predictive cybersecurity 4. Virtualization and automation of processes and services (RPA – Robotic Process Automationn) 5. Mobile apps for business process innovation 6. Blockchains and cryptocurrency 7. Advanced cloud computing 8. Smarter smartphones and tablets drive mobile process automation 9. Virtualization of desktops, storage, applications, and networking 10. Social business applications Source: 2018 Top technology Trends – Burrus Research BLI-MACPA Research with over one thousand finance and accounting professionals Top 10 Technology Hard Trends Shaping the Profession in 2018
  4. 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. Source: CPA.COM Insight into the CPA of the Future Study 2015 92% of CPAs Not #FutureReady Our purpose at BLI is to accelerate accounting and finance professionals in being even more future-ready and elevate their role as pro-active future-focused advisors
  5. Source: Forbes / KPMG Audit 2025 - The Future is Now
  6. 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 Our philosophy – what we believe…
  7. Future Ready Competencies in the Age of Machines Our Research: Future Ready Competency Matrix © Copyright Business Learning Institute 2017 Start with the leading research on competencies and skills needed in the future. Core competencies are a unique combination of human skills, knowledge and technology that provides value and results to the user. Enhancing the profession’s core competencies is key to sustaining a competitive and differential advantage in the marketplace.
  8. The skills finance and accounting professionals will need in the future and the emergence of the T-shaped professional. #FutureReady T-Shaped Professional Future Ready Competency Matrix © Copyright Business Learning Institute 2017
  9. Future Ready Competencies in the Age of the Machines Leadership Anticipating and Serving Evolving Needs Strategic & Critical Thinking and Problem Solving / Synthesizing Intelligence to Insight Communication Technology Savvy & Data Analytics Integration & Collaboration Functional & Domain Expertise Lead & Inspire people Empathy Build relationships Social & emotional intelligence Service orientation Emotional intelligence People management Negotiation Cross Cultural Competency Social Intelligence Globally focused & Cross cultural Team Development Ideation Creativity Innovation Brainstorm (Ideation) creativity / innoavtion Novel & adaptive thinking Complex problem solving Critical thinking Creativity Transdisciplinarity Novel and Adaptive Thinking Future-Facing Large frame pattern recognition (outside their frame) Strategic Guidance vs Tactical Acuity Sensemaking Cognitive flexibility Judgment and Decision Making Design mindset Cognitive Load Management Complex communication New media literacy Computational Thinking Tech Savvy Collaborate Coordinating with others Virtual Collaboration Collaborative mindset Finance and Accounting Professional Competencies Moral and Ethical Reasoning Look, Lead, Love,Learn Critical Thinking Skills: For Financial Professionals Smarter Decision-Making and Problem Solving for Leaders Seven Secrets of Successful Business Communication – Part 1 Analytics and Big Data for Accountants Leading and Collaborating in a VUCA World The Eight Hour MBA: Key Concepts of Leadership Strategy Critical Thinking For Finance Strategic Problem Solving: How to Solve Tough Challenges the Mastermind Way Seven Secrets of Successful Business Communication – Part 2 Blockchain, Big Data and Business Intelligence for Accounting and Finance Value of Collaboration – The Art of Relationship Management MBAexpress: Emotional Intelligence Critical Thinking, Case Studies and Fraud Tapping Into The Problem Solving Power of Your Team Effective Communication and Negotiation (Controller Series) Understanding the Transformational Power of Data and Analytics Look, Lead, Love,Learn The Upside of Stress Creativity & Innovation MBAexpress: Smarter Decision- Making MBAexpress: Communication in the Workplace Keeping Up With Technology 2017 Microsoft OneNote Digital Note- Taking Note-Taking and Collaboration MBAexpress: Nuances of Negotiating The Anticipatory Organization: Accounting and Finance Edition The Eight Hour MBA: Key Concepts of Powerful Communication Effective Communication and Negotiation MacGyvering: The Art of Being Resourceful in a Crisis Communications with Executive Presence for Business Success How the Best Financial Executives Create High Performance Organizations Future Ready Competency Matrix © Copyright Business Learning Institute 2017
  10. Organizational Leader Individual Contributor Manager the Bounce © Copyright Business Learning Institute 2017
  11. BLI Competency & Career Path Leadership Anticipating & Serving Evolving Needs Strategic & Critical Thinking/Synthesizing Intelligence to Insight Communication Integration & Collaboration Tech-Savvy and Data Analytics Technical, Functional & Domain Expertise Core Values: Integrity – Competence - Lifelong Learning - Objectivity Commitment to Excellence - Relevance in Global Marketplace Purpose: CPAs, making sense of a changing and complex world. Organizational Leader Manager Individual Contributor • Financial accounting and auditing • Cost accounting • Business planning • Management reporting and analysis • Corporate finance and treasury management • Risk management and internal control • Accounting information systems • Tax strategy, planning and compliance • Understand and leverage relevant technology in conjunction with core competencies to deliver superior services. • Aware of exponential technologies and ability to anticipate impact on business (cloud, A.I., Big Data, Blockchain0 #FutureReady – Aware, Predictive and Adaptive of emerging trends and issues that will impact the organization and its clients and customers, internal and external. Adept in identifying strategic directions and opportunities to meet the evolving needs of those we serve. • Effective at building strategic alliances and working collaborativel y to provide multidisciplina ry solutions to complex problems. • Mobilizing consent • #MBSN Management by Sticky Notes Future Ready Competency Matrix © Copyright Business Learning Institute 2017 • Team building • Coaching and mentoring • Driving performance • Motivating and inspiring • Change management • Adept at influencing, inspiring and motivating others to facilitate change and achieve excellence. • Expertise in connecting data, performing analysis and using business acumen to provide astute guidance for better business decision making. • Expertise in connecting data, performing analysis and using business acumen • Emotional Intelligence • Executive presence • Able to effectively exchange reliable and meaningful information, using appropriate context and interpersonal skills.
  12. You may have heard of SaaS (software as a service). Subscription, cloud-based services like Salesforce, Gmail and Google Apps, and Quickbooks are all SaaS products. Now, BLI offers on-demand learning as a service, or LaaS. • Available 24/7 from anywhere • Unlimited access • Incredible learning catalog For one flat fee, your team of 5 or more can get our entire library of on-demand learning options. Or, you can customize a course catalog just for your organization.
  13. • Anticipation • Strategic Thinking • External Awareness • Vision • Continuous Learning • Innovation • Creativity • Problem Solving • Prioritization • Business Acumen • Decisiveness • Influencing/Persuadin g • Emotional Intelligence • Consensus Building • Collaboration • Inspiration • Risk Management • Communication www.blionline.org/ao
  14. Confidential – Internal Use Only Culture = Mindset, Skillset, and Toolset In order to remain competitive, to stay relevant, even to survive in this age of exponential change, HBK must adopt an anticipatory mindset, a ‘future view’ based on the hard trends we see shaping our future, and use those insights to help our clients capitalize on the opportunities that accompany digital disruption. Learning to anticipate and adjust to this new age in financial services is significantly changing the way our team members think, allowing us to be future-ready, ensuring we will be even more relevant as trusted advisors to our clients." Christopher Allegretti, CPA, Managing Principal and CEO of HBK. www.blionline.org/ao
  15. blionline.org/ao KNOW WHAT’S NEXT Transform Planning Ø Identify Hard Trends Ø Identify Soft Trends Ø Predicting Change Ø Transformation Influencers DEVELOP OPPORTUNITIES Transform Innovation Ø 8 Hard Trend Pathways Ø Accelerating Innovation Ø Anticipating Customer Needs Ø Game-changing Opportunities SHAPE THE FUTURE Transform Culture Ø The Power of Futureview Ø Leveraging Disruption Ø Using Certainty to Sell Ø The Collaboration Imperative ACCELERATE SUCCESS Transform Results Ø Elevating Trust Ø Time Travel Audit Ø Skipping Problems and Barriers Ø Reward Desired Behaviors THE ANTICIPATORY ORGANIZATION™ MODEL An Innovation and Transformation Accelerator
  16. #FutureReady Competencies - Foundation Module Common Leadership Competencies Know What’s Next Strategic Thinking External Awareness Vision Continuous Learning Develop Opportunities Innovation Creativity Problem Solving Prioritization Shape the Future Business Acumen Decisiveness Accelerate Success Influencing / Persuading Emotional Intelligence Consensus Building Collaboration “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, Accounting Today
  17. IBM – MACPA-BLI Partnership Keeping you Future Ready https://bdu.blifutureready.org
  18. MBAExpress Key MBA Concepts in hours, not years. https://www.macpa.org/learning/mbaexpress/
  19. 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. Tom Hood, CPA, CITP, CGMA • Top 100 Influencer by Linked-In w/ 750,000 followers • Member of Forbes Finance Council • CPA Practice Adviser Accounting Hall of Fame • Named the Second Most Influential Person in Accounting by Accounting Today Magazine for the past five years • Top 25 Influencers in Learning & HR by HR Examiner • Top 25 Public Accounting Thought Leaders by CPA Practice Adviser CEO, Maryland Association of CPAs (MACPA) www.macpa.org Business Learning Institute (BLI) www.BLIonline.org www.linkedin.com/in/tomhood/ – Accounting Today

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