accounting careers - macpa -

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  tom@macpa.org  

Web  hNp://www.macpa.org  Blog  hNp://www.cpasuccess.com