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Tom Hood, CPA, CITP, CGMA
Salisbury University March 5, 2013
MACPA Professional Issues Update 2012 Student Edition
“People don’t buy what you do, they buy why you do what you do.”
-‐ Simon Sinek
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The world without CPAs
30 Future Forums 1,000 CPAs
Identified these top trends
What CPAs think about the future
http://www.bizlearning.net/live/i2afutureforums
• Change • Complexity • Compliance • Convergence • Competition
MANAGING THE SEA CHANGE
The Top 100 Most InfluenAal
• AICPA • SEC
• PCAOB • MACPA!
• IRS • Ron Baker – Value Pricing
• FASB • Gary Boomer – Tech Guru
• The next president • IASB
Top Seven Issues Facing Young professionals
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1. InformaAon overload (including accounAng and tax complexity)
2. Work / life balance 3. GeneraAonal issues and
communicaAons (including upper management not sharing knowledge with the younger generaAon)
4. Developing networking skills 5. Keeping up with technology -‐-‐
especially the cloud 6. Finding career guidance 7. Understanding social media
benefits
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.
Our core purpose, our reason for being is
Here is what they said…
The DNA of the CPA Values & Competencies
• Leadership • CommunicaAon • Strategic Thinking • CollaboraAon & Synthesis • Technologically Savvy
Our Vision Statement for the future is: ( mandates to ourselves for a successful future)
• CommunicaAng the total picture with clarity and objecAvity,
• TranslaAng complex informaAon into criAcal knowledge,
• AnAcipaAng and creaAng opportuniAes, 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:
Transactions
Decisions
Data
Knowledge
Information
Copyright 2012 – Business Learning Institute
Moving up the InformaAon Value Chain
Communicating the total picture with clarity &
objectivity
Translating complex information into
critical knowledge
Anticipating and creating opportunities
Designing pathways that transform vision
into reality
CPAs Inspire Confidence
Don't know
Agree
Disagree
“I would be more confident in a job done by a CPA than if it were done by an accountant who is not a CPA”
“CPAs have a unique perspective that is valuable when making business and financial decisions, even when those decisions are not directly related to accounting”
BDMs
Agree67%
Don't know17%
Disagree16%
Investors
Don't know
AgreeDisagree
BDMs
Agree74%
Don't know11%
Disagree15%
Investors
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Wisdom from the MACPA Leadership Academy
According to these young professionals, the future is one in which CPAs: ● are proactive, flexible, adaptive and collaborative by nature; ● have regained the trust of their clients and the public at large; ● have successfully bridged the profession’s “leadership gap” by focusing on succession planning, personal growth, and generational cooperation; ● have created the profession’s premier global industry standards and best practices; ● have redefined the profession through work / life integration, collaboration, and a team-first approach; and ● have earned a reputation as technological innovators.
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The CPA Brand
The
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Your CPA says so much. Your CPA, CGMA says you’re a management accountant.
Give your career a Bounce!
MANAGING THE SEA CHANGE���Be the Captain of your own ship!
• Continuous Learning
• Competency
• Collaboration = Career Success
It really is about this...
You can't connect the dots looking forward you can only
connect them looking backwards. So you have to trust
that the dots will somehow connect in your future.
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A leader’s job is to define context and provide hope and inspiration..."
Tom Hood, CPA.CITP CEO
Maryland Associa8on of CPAs Business Learning Ins8tute
(443) 632-‐2301 E-‐mail [email protected]
Web hNp://www.macpa.org Blog hNp://www.cpasuccess.com