State of Accounting: Time to Get Out of the Box Speaker: Tom Hood, CPA, CITP, CGMA Session Number: SA-60 Date/Time: July 30, 2015 2:30pm-3:15pm Speaker Twitter Handle: @tomhood
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@tomhood
Leave me alone! I spent thirty years building this box.
Cloud computing trends
of small businesses are demanding cloud-based computing
61%
YET, Only 10% of CPAs using cloud to work with clients!
Source: Sage North America
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.
Gradual then Sudden
AirBnB Rooms available surpasses Hilton & Marriott
'If the rate of change on the outside exceeds the rate of change on the inside, the end is near.’ – Jack Welch
Will your job be done by a machine?
Source: NPR Planet Money, May, 2015
Clients and Employers want CPAs to offer PROACTIVE advice and insights that are actionable about the future!
Five Steps to Get Started1. Focus on the Future2. Start with Certainty to
Find Opportunities3. Learn New Skills4. Protect the Core Purpose
& Values5. Collaboration &
Relationships are key
Why are windshields so much bigger?
CPAs are trusted advisors who help business and organizations shape their future. Combining insight with integrity they deliver value by:
• Communicating the total picture with clarity and objectivity;
• Translating complex information into critical knowledge;
• Anticipating and creating opportunities;• Designing pathways that transform vision
into reality.Source: AICPA: CPA Horizons 2025 Report
V A L U E
Adding Insight for Action
Information
Wisdom
Knowledge
Data Capacity
Competence
Credibility
Source: CGMA & DIKW Pyramid
Start With Certainty & Find Opportunities
www.blionline.org/ao
Cloud computing trends
of small businesses are demanding cloud-based computing
61%
YET, Only 10% of CPAs using cloud to work with clients!
Source: Sage North America
OPPORTUNITY Technology’s impact on firm service lines
• Efficiencies • Innovation
• Efficiencies • Innovation
• Transformative • Revenue Growth
New Opportunities Emerging
Dramatic Change
Audit Tax Accounting services
Source: AICPA Spring Council 2015
www.blionline.org
ANTICIPATION Strategic Thinking External Awareness Vision Con7nuous Learning Innova7on Crea7vity Problem Solving Priori7za7on Business Acumen Decisiveness Influencing/Persuading Emo7onal Intelligence Consensus Building Collabora7on Inspira7on 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.
TrustIntegrityObjectivityExcellence Lifelong Learning
Protect the Core AND Stimulate Progress
When everything is changing, know what should not change…
The future is about relationships!
Top Five Barriers1. Not enough time.2. Being reactive versus
proactive.3. Doing more with less.4. Information overload
(standards and regulations).
5. Managing change.
Start today!
Vote for a question
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BLI.CNF.IO Select your sessionand join the conversation:Sage – State of Accounting
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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 2013 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/
