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Social Media for CPA Professionals

Student Edition

Presented by: Tom Hood, CPA, CITP, CGMA CEO Maryland Association of CPAs Business Learning institute

Tom Hood, CPA, CITP, CGMA

Tom Hood, CPA, CITP, CGMA CEO MACPA www.macpa.org and Business Learning Institute (BLI) www.blionline.org!

http://www.linkedin.com/in/tomhood/!

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 Magazine!

•  Named the Second Most Influential in Accounting by Accounting Today Magazine 2013

•  Linked-In Top 150 Influencer •  Top 25 Influencers in Learning & HR by HR

Examiner •  Top 25 Thought Leaders in Public Accounting

by CPA Practice Adviser •  Working on Learning Management with

AICPA/CPA2Biz, Cloud Curriculum, Performance Management !

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

American Institute of CPAs

"It starts with the fact that globalization and the information technology revolution have gone to a whole new level. Thanks to cloud computing, robotics, 3G wireless connectivity, Skype, Facebook, Google, LinkedIn, Twitter, the iPad, and cheap Internet-enabled smartphones, the world has gone from connected to hyper-connected.”

- Thomas Friedman NY Times author The World is Flat

The single most important trend in the world today

Common  Mispercep-ons  

• Timewaster  –  “social  notworking”  •  I  don’t  want  to  know  what  you  had  for  lunch  

• No  real  business  use  –  No  ROI  

ROI?  

hDp://cpa.tc/4qv    

Our research methodology #MBSN MACPA New Young Professional Network collaborating to identify issues

What’s keeping young professionals up at night?

Top Seven Issues 1.  Information overload (including accounting and tax

complexity) 2.  Work / life balance 3.  Generational issues and communications (including

upper management not sharing knowledge with the younger generation)

4.  Developing networking skills 5.  Keeping up with technology -- especially the cloud 6.  Finding career guidance 7.  Understanding social media benefits

CPA Success blog post http://cpa.tc/1ef

Five  Things  Every  Professional  Needs  to  be  Good  At  

1.  Learning  and  staying  on  the  cuRng  edge.  2.  Managing  your  career  (yep,  you  have  to  

take  charge  of  your  own  career).  3.  Doing  the  work  (research,  produc-vity,  

communica-on).  4.  Interac-ng  with  your  peers  and  

colleagues.  5.  Becoming  a  thought  leader  in  your  field.      

 -­‐  Allen  Blue  co-­‐founder  Linked-­‐In  hDp://lnkd.in/HghTcX  

Keeping Up With Technology

http://www.macpa.org/blog/category/6/technology-social-media

Tom’s  Top  Five  Reasons  CPAs  Should  be  on  Social  Media  

1.  Connec-ng  2.  Collabora-ng  3.  Learning  4.  Innova-ng  5.  Moving  People    

Virtual  Connec-ons  –  Real  People  

hDp://dupress.com/ar-cles/social-­‐business-­‐study/  Follow  @DU_Press  @deloiDe  @MITSloan  

Business  is  Social  

“Bill’s blog makes me feel connected to the organization in a way I had not felt before. I feel more informed and closer to the organization than ever before.” – from a Marriott Finance Team member during an MACPA Professional Issues update at their HQ in Bethesda, MD ].

What if you could keep your organization informed and inspired by your thoughts?

The  MarrioD  Story  –  Engaging  Finance  Team  

Listen:  Use  Social  Media  to  turn  the  bullhorn  around  

Three authors ReTweeted this blog post which mentioned their books…

http://www.cpasuccess.com/2012/01/the-top-ten-business-books-of-2011.html

Learn  

FEI’s  own  Edith  Orenstein  on  Researching  SEC  &  Social  Media  

Follow: @feiblog @brocromanek

Innova-on  adop-on  =  Social  Networks  

 “The  degree  to  which  an  individual  in  a  social  network  is  connected  to  other  individuals  in  the  network  (actor  centrality)  has  been  shown  to  have  a  major  influence  on  that  individual’s  adop>on  of  business  innova>ons.”                  –  Research  Report  by  Associa-on  of  American  Medical  Colleges  

Social  Media  connects  us  to  thought  leaders  

Case  Studies  On  the  Cover  of  a  Magazine?  

•  BCG  &  Company  –  blogs,  twiDer  •  Naden/Lean  –  blogs,  twiDer  •  James  Carroll  –  facebook,  twiDer  •  Morris  &  D’Angelo  

Thought  Leadership  

35

Social  Media  Engages  &  Shares  Insights  

The  twiDer  stream  from  AICPA  Leadership  Academy  

Real  Time  Focus  Group  

Example  of  using  TwiDer  to  get  immediate  real  -me  feedback  for  this  preso  

Advice  for  today  

Risk  Management  Don’t  let  this  happen  to  you  

This  is  the  biggest  fear  of  social  media.  You  can  mi-gate  this  fear  with  training  and  a  good  policy.      MACPA’s  social  media  policy  incorporates  the  Code  of  Ethics  of  the  CPA  Profession  and  our  State  Board  of  Accountancy  into  the  best  of  breed  policy  from  IBM.  On  the  next  slide.  

MACPA  Social  Media  Policy  

hDp://cpa.tc/21c    

•  Based  on  social  media  best  prac-ces  

•  Tied  to  MACPA  Vision,  Purpose,  and  Strategy  

•  Includes  CPA  Code  of  Professional  Conduct  

 

MACPA’s  Social  Media  Policy  1. Participate 2. Be smart & safe

(principles tied to CPA code of conduct and organization’s mission, purpose and values)

3. Most importantly… explore and have fun!

Some  Guidelines  

Why  accoun-ng  students  should  care  about  Social  Media  

“In-­‐forming  is  the  individual  person's  analog  to  open-­‐sourcing,  outsourcing,  insourcing,  supply-­‐chaining,  and  offshoring.  Informing  is  the  ability  to  build  and  supply  your  own  personal  supply  chain—a  supply  chain  of  informa8on,  knowledge,  and  entertainment.  In-­‐forming  is  about  self-­‐collabora8on—becoming  your  own  self-­‐directed  and  self-­‐empowered  researcher,  editor,  and  selector  of  entertainment.  

             –  Thomas  Friedman  

“In  a  period  of  rapid  change  and  increasing  complexity,  the  winners  are  going  to  be  the  people  who  can  LEARN  faster  than  the  rate  of  CHANGE  and  faster  than  their  COMPETITION.”  

-­‐  Tom  Hood,  CPA.CITP.CGMA  7/22/14   T  

Source:  www.C4LPT.co.uk  

Top  Ten  Learning  Technologies  1.  TwiDer  –  micro-­‐upda-ng  tool        2.  GoogleDocs/Drive  –  online  collabora-on  tool    3.  YouTube  –  video  hos-ng  and  sharing  tool  4.  Google  Search  -­‐  web  search  5.  Powerpoint    -­‐  Presenta-on  sonware  6.  Evernote  –  Produc-vity  tool  (and  content  cura-on)  7.  Dropbox  –  File  storage  and  synchroniza-on  8.  Wordpress  –  blogging  tool        9.  Facebook  –  social  networking  site  10. Google+  Hangouts  –  Video  mee-ngs  *  Bonus  Slideshare  –  presenta-on  hos-ng  and  sharing  tool    

Social  Learning  is  quickly  emerging  as  a  major  use  of  social  media  and  a  way  to  engage  deeper  with  our  members  and  par-cipants.  

Tom’s  Favorite  Tools  

“Use the tools, don’t let the tools use you.” – Francine McKenna @retheauditors

•  Twitter •  Linked-In •  Blog •  Slideshare.net •  Evernote •  Tweetdeck.com •  Hootsuite.com •  Zite.com

Five  Ways  to  Get  started…  1.  Create  your  digital  

footprint  (Linked-­‐In,  Facebook,  Google  +,  TwiDer)  

2.  Start  listening  (use  google  reader  and  twiDer  to  start  listening)  

3.  Make  friends  (build  your  network  and  follow  on  twiDer)  

4.  Create  &  Share  (join  the  conversa-on  by  commen-ng,  Retwee-ng,  and  start  a  blog)  

5.  Recognize  &  Reciprocate  (always  recognize  and  aDribute  other’s  work)  

More  Resources  CPA  Success  posts  about  social  media  hDp://www.cpasuccess.com/social-­‐media/  Self-­‐directed  learning  guide  –  15  min  a  day  hDp://www.cpalearning2.com/  Can  Social  Media  Help  You  Learn?  hDp://cpa.tc/sociallearn  Making  Social  Media  Work  for  You  hDp://www.journalofaccountancy.com/Mul-media/TomHood.htm  Social  Media  for  Learning  hDp://cpa.tc/sociallearn  Social  Media  for  CPAs  and  CEOs  –  interviews  &  stories  hDp://cpa.tc/social  How  to  Leverage  Social  Media  –  Journal  of  Accountancy  hDp://cpa.tc/8u    

Recommended  Reading  •  The  Corporate  Blogging  Book  by  Debbie  Weil  

•  Crush-­‐It  by  Gary  Vaynerchuk  •  The  Whuffie  Factor  by  Tara  Hunt  •  Here  Comes  Everybody  by  Clay  Shirky  •  Social  Media  Strategies  for  Professionals  and  Their  Firms  by  Michelle  Golden  

•  Switch:  How  to  Change  When  Change  is  Hard  –  Chip  &  Dan  Heath  

•  Escaping  Velocity  by  Geoffrey  Moore  

Tom Hood, CPA.CITP CEO Maryland Association of CPAs Business Learning Institute (443) 632-2301 E-mail tom@macpa.org Web http://www.macpa.org Blog http://www.cpasuccess.com  

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