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 reins 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. 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. Presentation at the Wolters Kluwer CCH Users Conference in Las Vegas

1. Trends'in'the'Profession'–'The'
Shi0'Change'4'What’s'the'Future'
of'Accoun;ng'
Tom'Hood,'CPA,'CITP,'CGMA'
CEO'
MACPA'&'BLI'
@tomhood'

2. 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
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/

3. WTF?Trends in the Profession - WHAT’STHE FUTURE of Accounting?
The Shift Change
By:Tom Hood, CPA, CITP, CGMA
@tomhood

4. Download today’s slides at …
www.SlideShare.net/thoodcpa

5. Vote for a question
Respond to Poll
Ask a Question
MACPA.CNF.IO
Select your session
and join the
conversation

7. THE FUTURE OF JOBS

8. We'are'in'a'race…

9. It s really a math problem…
2006

11. 12,000 CPAs, 75,000
Comments over 15
years

12. The Shift Change
1. Leadership!
2. Learning!
3. Technology!
4. Generations!
5. Workplace!

14. The challenge & opportunity is
to make the shift from the first
curve to the second curve at
the right time and with the
right strategy

15. ! Leadership
(Next Gen)

16. The New Leadership Model

17. Tomorrow’s CPAs are:
• Proactive
• Flexible
• Collaborative
• Trustworthy
• Future-focused
• Balanced
• Technological

18. Learning

21. Technology

23. Cambrian “Big Bang” Explosion

24. Generations

25. The Danger Zone

26. What is the #1 issue facing CPAs
Today?

27. What’s'
Keeping'
young'CPAs'
up'at'night?'
'
1. Not'enough';me'
2. Being'reac;ve'vs.'proac;ve'
3. Talent'development'
4. Keeping'up'
5. Growth'(and'opportunity)'
6. Doing'more'with'less'
7. Informa;on'overload'
http://cpa.tc/54s

28. 11 things young professionals want you to know
'
1. More'collabora;on.'
2. More'transparency.''
3. Encourage'ini;a;ve.'
4. Focus'on'strengths.'
5. Expect'the'unexpected.'
6. Take';me'to'save';me.'
7. Look'beyond'the'billable'hour.'
8. Engage'your'team'in'your'vision.'
9. Be'realis;c.'
10. Train'your'staff'and'expect'accountability.'
11. Take'a'financial'risk'on'leadership.'

29. Workplace

30. Work is not a place, it is what you do.
And… What you do while working
is fundamentally different.

32. WTF?WHAT’STHE FUTURE?

33. The # 1 Challenge

34. The # 1 Opportunity

35. Still not convinced?
• #1 Issue facing CPAs in MACPA-BLI national survey
• 76% of SMB owners say their CPAs are not proactive
• 75% of SMB owners have changed firms due to “reactive
services” instead of proactive advice
• 57% want more business planning and strategic advice

36. What'SMBs'Want?'
Source:'What'SMBs'Want'from'their'CPA'–'2014'–'The'Sleeter'Group'

37. TheTop 5 Ways to KeepYour Clients
and GrowYour Practice
• Proactive Strategic Advice
• Specialization and expertise in their industry
• Focus on your best ‘A’ clients
• Use the latest and most efficient technologies
• Communicate your services (cross-sell)

38. www.blionline.org
Source: CPA.COM Insight into the CPA of the
Future Study 2014
Only 8% of CPAs are Future Ready
Future Ready is the capacity to be
aware, predictive, and adaptive of
emerging challenges, tech
innovations, and trends and changes
in business, population, and social
environment.

39. The research: Anticipation is
showing up across our Profession
MACPA'Member'Survey'
Top'Challenges'2014' Sleeter'Group'Survey'2014'

41. www.blionline.org

42. V
A
L
U
E
Adding Insight forAction
Information
Wisdom
Knowledge
DataCapacity
Competence
Credibility
Source: CGMA & DIKW Pyramid

43. ANTICIPATION'
Strategic'Thinking'
External'Awareness'
Vision'
Con;nuous'Learning'
Innova;on'
Crea;vity'
Problem'Solving'
Priori;za;on'
Business'Acumen'
Decisiveness'
Influencing/Persuading'
Emo;onal'Intelligence'
Consensus'Building'
Collabora;on'
Inspira;on'
Risk'Management'
Anticipation –The Critical Competency
• 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.
Source: Conference Board Global Leadership Forecast 2015

44. 5 Steps to be Future Ready
1. Context
2. Certainty
3. Capacity
4. Competence
5. Core Beliefs

45. “You can’t stop the waves, but you can
learn how to surf.” – Jon Kabat Zinn
Start by riding the
hard trends…

46. Calendar -The No. 1 App
Spend just one hour per week in the future…

47. 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

48. Scan for CPE
48'

49. Par$cipant*Polls*
CCHUC15*
Tom*Hood,*CPA,*CITP,*CGMA*
CEO*
MACPA*&*Business*Learning*Ins$tute*
@tomhood*

50. Genera$on*

51. 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*

52. 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*

54. 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*

55. 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*

56. 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*

57. http://www.blionline.org/ao

58. 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