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Par$cipant*Polls*
CCHUC15*
Tom*Hood,*CPA,*CITP,*CGMA*
CEO*
MACPA*&*Business*Learning*Ins$tute*
@tomhood*
Genera$on*
Biggest*Challenges*
1.  Succession*&*
Talent*
Development*
2.  Being*reac$ve*vs*
proac$ve*
3.  Recruitment*&*
reten$on*
4....
Top*Skills*
1.  Communica$on*
2.  Inspiring*and*
mo$va$ng*others*
3.  Strategic*&*Cri$cal*
Thinking*
4.  An$cipa$ng*and*
s...
Biggest*Challenges*
1.  Succession*&*Talent*
Development*
2.  Recruitment*&*
reten$on*
3.  Being*reac$ve*vs*
proac$ve*
4. ...
Top*Skills*
85*responses*
1.  Strategic*&*Cri$cal*
Thinking*
2.  Communica$on*
3.  Inspiring*and*
mo$va$ng*others*
4.  An$...
Top*Challenges*Facing*Your*Firm*
85*responses*
1.  Recrui$ng*top*talent*
2.  Engagement*of*our*
people*
3.  Workload*
comp...
http://www.blionline.org/ao
Tom Hood, CPA, CITP, CGMA
CPA Practice Adviser Accounting Hall of Fame
Named the Second Most Influential in Accounting by
...
 
Wolters Kluwer CCH Users Conference ­ Oct 25­28, 2015 
What is hard about being an accounting professional? 
Explaining ...
 
What is hard about being an accounting professional? 
Busy season 
Managing client expectations with staff expectations ...
 
 
Hard Trends & Opportunities 
 
Hard Trend Opportunity 
Partners retiring Opportunities to move up current staff 
Succe...
Top Challenges & Top Skills for Accounting & CPAs #CCHUC15
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Top Challenges & Top Skills for Accounting & CPAs #CCHUC15

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Participant Polls from Tom Hood's sessions at the Wolters Kluwer CCH Users Conference in Las Vegas, October, 2015

Almost 200 participants attending Tom's sessions responded to a series of polls using conferences.io. The sessions were: How to Get Ready for the Fast Future and Top Trends in the CPA Profession - The Shift Change. The questions asked were generations in the audience, top challenges, top skills needed to be successful, and the top challenges facing accounting firms.

The end of the report contains two more questions - What is hard about being an accounting / finance professional?

And a brainstorm of hard trends and opportunities from our work with futurist and best-selling author, Daniel Burrus and the Anticpatory Organization: Accounting and Finance Edition www.blionline.org/ao


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Top Challenges & Top Skills for Accounting & CPAs #CCHUC15

  1. Par$cipant*Polls* CCHUC15* Tom*Hood,*CPA,*CITP,*CGMA* CEO* MACPA*&*Business*Learning*Ins$tute* @tomhood*
  2. Genera$on*
  3. Biggest*Challenges* 1.  Succession*&* Talent* Development* 2.  Being*reac$ve*vs* proac$ve* 3.  Recruitment*&* reten$on* 4.  Managing*change* 5.  Not*enough*$me* 109*responses*
  4. Top*Skills* 1.  Communica$on* 2.  Inspiring*and* mo$va$ng*others* 3.  Strategic*&*Cri$cal* Thinking* 4.  An$cipa$ng*and* serving*evolving*needs* 5.  Influencing*and* persuading*others*
  5. Biggest*Challenges* 1.  Succession*&*Talent* Development* 2.  Recruitment*&* reten$on* 3.  Being*reac$ve*vs* proac$ve* 4.  Not*enough*$me* 5.  Managing*change* 85*responses*
  6. Top*Skills* 85*responses* 1.  Strategic*&*Cri$cal* Thinking* 2.  Communica$on* 3.  Inspiring*and* mo$va$ng*others* 4.  An$cipa$ng*and* serving*evolving*needs* 5.  Change*leadership*
  7. Top*Challenges*Facing*Your*Firm* 85*responses* 1.  Recrui$ng*top*talent* 2.  Engagement*of*our* people* 3.  Workload* compression* 4.  Reten$on*of*top* talent* 5.  Business* development*and* growth*
  8. http://www.blionline.org/ao
  9. Tom Hood, CPA, CITP, CGMA CPA Practice Adviser Accounting Hall of Fame Named the Second Most Influential in Accounting by Accounting Today Magazine 2015 Top 150 Influencer by Linked-In Top 25 Influencers in Learning & HR by HR Examiner Top 25 Public Accounting Thought Leaders by CPA Practice Adviser Working on Learning Management with AICPA/CPA2Biz, Cloud Curriculum, Performance Management /XBRL, Leadership & Generations CEO Maryland Association of CPAs (MACPA) www.macpa.org Business Learning Institute (BLI) www.blionline.org http://www.linkedin.com/in/tomhood/ Hood's&greatest&a,ribute&isn't&that&he&consistently& glimpses&the&future&more&quickly&than&the&rest&of&us& (though&he&does).&It's&that&he's&able&to&bring&it&back&to& the&present&and&serve&as&its&?reless,&inspiring&and& effec?ve&champion.&&&&&&&&&&&&&&&&&&&&– Accounting Today
  10.   Wolters Kluwer CCH Users Conference ­ Oct 25­28, 2015  What is hard about being an accounting professional?  Explaining to a client our value and our industry not keeping it where it should be.   Time requirements  Attempting to be all things to all clients...  Time management   It is not hard, just exhausting.    Managing work life balance in the profession  Managing family and work  Handling client expectations  Time commitment  Time commitment   Compromising and adapting to change in the fast technological environment  No time for long term strategic planning  Busy work versus value work  time commitment   Time management  Working with different generations  Always putting out fires  The volume of complex returns being completed close to a deadline and the related time commitment.   Adjusting from compliance to advisory  knowing exactly what the product offerings are  Hurdles of changing to retain talented staff  Value added services  Keeping up with new laws and business changes to deliver great client service.  Keeping up with all changing tax laws  Time requirements   Trying to be everything to everybody and doing it well  Tired of compliance work  changing regulations   Being current with social media  Time commitment away from family  Marketing  Time commitment, unable to take vacation without being interrupted with work  Busy season   Technology 
  11.   What is hard about being an accounting professional?  Busy season  Managing client expectations with staff expectations   Time management   speed of change  managing client expectation   Finding the right people to fit the firm  Lack of experienced staff    Hard Trends & Opportunities  This exercise involved identifying the Hard Trends (future facts) that will happen and to develop  opportunities for firms to take advantage of these future certainties.  The three categories of hard trends are:  1. Technology and the three digital accelerators (Processing, Bandwidth, and Storage)  2. Demographics (Gen X ­ managers are one half of both Boomers and Gen Y)  3. Government regulations    Hard Trend Opportunity  Years in retirement is expanding  Offer financial services to an aging population  Partner retirement  Using technology to supplement experience and staff.  More automated tax prep  Offer alternative services to tax prep  Aging boomers  Fast tracking managers into partners  BEPs  ??? Cut out dead weight  *ELearning needs to reflect how people  Micro modules and device and location agnostic   want to learn    Tax law always changing New services for clients ­ planning & proactive  Unmotivated staff (Soft trend) Inspire and develop staff (involve and engage)  New tax laws  More better work for CPA firms ­ job security   New tax laws Educate clients as laws come ­ proactive approach.  Automation of Tax & Accounting Automate and move up value chain  Increasing technology  Helping clients transition to new tech  Aging Baby Boomers Fast track to partner  Access to more technology Deliver results to clients and communicate using more   technology  SALT regulations increasing Develop SALT consulting niche   Firm mergers/acquisitions  New pars attracting new business owners   Retiring partners Focus on succession planning 
  12.     Hard Trends & Opportunities    Hard Trend Opportunity  Partners retiring Opportunities to move up current staff  Succession planning Advancement opportunity  Increasing Technology  Use technology appropriately ­ make capacity for more  Partners mandatory retirement Fast track high potentials  Millennials are not looking to work as hard as their predecessors Develop new staff  Partners retiring Advancement opportunities   Tax return completion by computers  Revolutionize the service offering to the client ­ more value   Automation of tax preparation on cloud Proactive to clients all aspects leverage technology  Partner retirement Change employee track ­ career plans  Partner retirement ­ loss of knowledge Work across firm to leverage wisdom of boomers and skills   of other generation (X & Y)  Shortage of Managers ­ Gen Xers  Fast track high potentials & upskill    * Note: Nano­learning is in the latest exposure draft for CPE Standards from the AICPA/NASBA and  has been adopted in two states, Maryland and Ohio  The Burrus/BLI ​Anticipatory Organization: Accounting and Finance Edition​ (​www.blionline.org/ao​) is  structured learning in three minute single concept videos with rapid application exercises developed  specifically for the accounting / finance profession ­ together it is in a five hour CPE module to qualify in  states without nano­leanring. 

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