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Top Seven Future-Ready Skills for CPAs, Finance and Accounting Professionals

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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.

You can find out more at www.blionline.org

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Top Seven Future-Ready Skills for CPAs, Finance and Accounting Professionals

  1. The Future-Ready Skills for Finance and Accounting Professionals Tom Hood, CPA, CITP, CGMA CEO Maryland Association of CPAs Business Learning Institute @tomhood
  2. Source: World Economic Forum Future of Jobs, 2018 By 2022, everyone will need an extra 101 DAYS OF LEARNING Analytical thinking and innovation Active learning and learning strategies Creativity, originality and initiative Technology design and programming Critical thinking and analysis Complex problem-solving Leadership and social influence Emotional intelligence Reasoning, problem-solving and ideation Systems analysis and eval. 2 3 4 5 6 7 8 9 10 1 Growing skills demand Challenging both ‘what’ and ‘how’ we learn
  3. 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…
  4. #FutureReady 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
  5. http://bit.ly/BLI-Future-Ready-Matrix Future Ready Competency Matrix © Copyright Business Learning Institute 2017 Future Ready Competencies in the Age of MachinesOur Research:
  6. ANTICIPATION Strategic Thinking External Awareness Vision Continuous Learning Innovation Creativity Problem Solving Prioritization Business Acumen Decisiveness Influencing/Persuading Emotional Intelligence Consensus Building Collaboration Inspiration Risk Management The competency of “anticipation” actually includes a number of competencies included in many of the top companies of today. Across these models, you'll see a common theme of "strategic thinking," "innovation" and "leading change." Many of these organizations build (and validate) fantastic competency models and know what they want people to do. The beauty of the Anticipatory Organization model is that it offers a clear process that makes highly-abstract leadership competencies attainable and trainable in a self- directed e-learning system featuring short single-concept videos with rapid application learning exercises. If an organization wants to make "strategic thinking" or "innovation" a core competency, we can provide clear, trainable activities that can be targeted to a wide range of learners (from individual contributors to senior leadership). We provide the bridge between the competency model and the desired observable behaviors. Anticipation –The Critical Competency
  7. • Anticipation • Strategic Thinking • External Awareness • Vision • Continuous Learning • Innovation • Creativity • Problem Solving • Prioritization • Business Acumen • Decisiveness • Influencing/Persuading • Emotional Intelligence • Consensus Building • Collaboration • Inspiration • Risk Management • Communication http://www.blionline.org/ao
  8. AOAF recognized as 2016 Top learning Product “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
  9. Future Ready Competencies in the Age of the Machines Leadership Anticipating and Serving Evolving Needs Critical Thinking and Problem Solving Communications 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 Synthesizing Intelligence to Insight 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 Co-ordinating with others Virtual Collaboration Collaborative mindset Finance and Accounting Professional's 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. Our approach to learning Nano – Rapid Application – Curriculum Multidimensional and adaptable. Traditional to Nano – 10-minute learning, App for content curation and reading journals. Collaboration and engagement tools. ThinkTank, conferences.io, MBSN Blended – ILT – E-Learning Curriculum
  11. MBAExpress Key MBA Concepts in hours, not years.
  12. Keeping you Future Ready IBM/BLI/MACPA Partnership
  13. 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 • CPA Practice Adviser Accounting Hall of Fame • Named the Second Most Influential Person in Accounting by Accounting Today Magazine for the past six years • Top 100 Influencer by Linked-In w/ 750,000 followers • 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, Leadership & Generations CEO, Maryland Association of CPAs (MACPA) macpa.org Business Learning Institute (BLI) BLIonline.org linkedin.com/in/tomhood/ – Accounting Today

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