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Trends'in'the'Profession'–'The'
Shi0'Change'4'What’s'the'Future'
of'Accoun;ng'
Tom'Hood,'CPA,'CITP,'CGMA'
CEO'
MACPA'&'BLI'
@tomhood'
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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 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/
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WTF?Trends in the Profession - WHAT’S THE FUTURE of Accounting?
The Shift Change
By: Tom Hood, CPA, CITP, CGMA@tomhood
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Download today’s slides at …www.SlideShare.net/thoodcpa
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Vote for a question
Respond to Poll
Ask a Question
MACPA.CNF.IO Select your sessionand join the conversation
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THE FUTURE OF JOBS
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We'are'in'a'race…
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It�s really a math problem…
2006
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12,000 CPAs, 75,000 Comments over 15
years
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The Shift Change
1. Leadership!2. Learning!3. Technology!4. Generations!5. Workplace!
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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
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! Leadership(Next Gen)
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The New Leadership Model
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Tomorrow’s CPAs are: • Proactive • Flexible • Collaborative • Trustworthy • Future-focused • Balanced • Technological
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Learning
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Technology
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Cambrian “Big Bang” Explosion
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Generations
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The Danger Zone
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What is the #1 issue facing CPAs Today?
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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
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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.'
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Workplace
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Work is not a place, it is what you do.And… What you do while working
is fundamentally different.
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WTF?WHAT’S THE FUTURE?
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The # 1 Challenge
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The # 1 Opportunity
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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
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What'SMBs'Want?'
Source:'What'SMBs'Want'from'their'CPA'–'2014'–'The'Sleeter'Group'
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The Top 5 Ways to Keep Your Clients and Grow Your 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)
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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.
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The research: Anticipation is showing up across our Profession
MACPA'Member'Survey'
Top'Challenges'2014' Sleeter'Group'Survey'2014'
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www.blionline.org
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V A L U E
Adding Insight for Action
Information
Wisdom
Knowledge
Data Capacity
Competence
Credibility
Source: CGMA & DIKW Pyramid
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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
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5 Steps to be Future Ready1. Context 2. Certainty3. Capacity4. Competence 5. Core Beliefs
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“You can’t stop the waves, but you can learn how to surf.” – Jon Kabat Zinn
Start by riding the hard trends…
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Calendar - The No. 1 AppSpend just one hour per week in the future…
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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
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Scan for CPE
48'
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Par$cipant*Polls*
CCHUC15*
Tom*Hood,*CPA,*CITP,*CGMA*CEO*MACPA*&*Business*Learning*Ins$tute*@tomhood*
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Genera$on*
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Biggest*Challenges*1. Succession*&*
Talent*Development*
2. Being*reac$ve*vs*proac$ve*
3. Recruitment*&*reten$on*
4. Managing*change*5. Not*enough*$me*
109*responses*
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Top*Skills*1. Communica$on*2. Inspiring*and*
mo$va$ng*others*3. Strategic*&*Cri$cal*
Thinking*4. An$cipa$ng*and*
serving*evolving*needs*5. Influencing*and*
persuading*others*
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Biggest*Challenges*1. Succession*&*Talent*
Development*2. Recruitment*&*
reten$on*3. Being*reac$ve*vs*
proac$ve*4. Not*enough*$me*5. Managing*change*
85*responses*
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Top*Skills*
85*responses*
1. Strategic*&*Cri$cal*Thinking*
2. Communica$on*3. Inspiring*and*
mo$va$ng*others*4. An$cipa$ng*and*
serving*evolving*needs*5. Change*leadership*
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Top*Challenges*Facing*Your*Firm*
85*responses*
1. Recrui$ng*top*talent*2. Engagement*of*our*
people*3. Workload*
compression*4. Reten$on*of*top*
talent*5. Business*
development*and*growth*
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http://www.blionline.org/ao
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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