CPA 2.0 - The Future of the Accounting Profession (FICPA Accel Forum)

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During a recent meeting of the AICPA Governing Council, Barry Melancon, CEO of the institute shared this insight: At the heart of the tension between millennials and boomers is a static business model at CPA firms. The CPA firm value proposition has long centered around convenience for the client. "We worry about when your taxes are due so that you don't have to." In this session we'll discuss how that value proposition is changing and with it, the entire CPA firm business model. We'll discuss the factors driving this change and will introduce you to the business model canvas as a tool for iterating business models. Then we'll show you some practical steps you can take to transition your business model from compliance and client convenience to trusted client partner and driver of enterprise value.

Leadership & Management

CPA 2.0
The Future of
the Accounting
Profession

#AICPA_EDGE
Click to edit text styles
• Second level
- Third level
- Fourth level
- Fifth level
2
Tweets Welcome! @GriffithsCPA

#AICPA_EDGE 6
We live in exponential times

#AICPA_EDGE 7
Moore’s Law
Processor Speed
Time

#AICPA_EDGE 12
Not Just Tweaks, but Wholesale
Changes in the Value Proposition
Historical Value Proposition
Convenience
“Thank you for
remembering when my
taxes are due and reading
all of those new accounting
pronouncements so that I
don’t have to.”
Future Value Proposition
Enterprise
Value
“Thank you for playing a
vital role in driving business
performance and enterprise
value.”

#AICPA_EDGE 13
Diversification in accounting firms
Source: AICPA Trends survey
New hires at
accounting
firms
2007
41,508
2012
53,092
13%
24%

Cloud computing trends
Source: Sage North America
of small businesses are
demanding cloud-based
computing
61%

#AICPA_EDGE 18
Technology adoption remains slow
of firms are using online or cloud solutions
to collaborate and share accounting
information with their clients
10%

#AICPA_EDGE 19
A Case Study in New Software
Adoption

#AICPA_EDGE 20
Regulation
2002
66 Pages
2010
2,319 Pages

#AICPA_EDGE 22
Organizational Structures

#AICPA_EDGE 23
Just How Important is
Strategic Thinking?
Study of 60,000 leaders:
“We found that a strategic approach to
leadership was, on average, 10 times more
important to the perception of effectiveness
than other behaviors studied.”

#AICPA_EDGE 24
A Picture
is Worth a
Thousand
Words . . .

#AICPA_EDGE 25
In Case You were wondering,
this is not a picture . . .

#AICPA_EDGE 26
Business Model Canvas Exercise

#AICPA_EDGE 27
Let’s Connect
Dan Griffiths is the Director of
Strategic Planning at Tanner, a
CPA firm based in Salt Lake City.
He provides strategic and
business planning, business
coaching, and leadership
development. Contact Dan at:
dgriffiths@tannerco.com
Or connect with him on LinkedIn:
www.linkedin.com/in/dangriffiths
cpa

© 2016 American Institute of CPAs. All rights reserved.

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1. CPA 2.0 The Future of the Accounting Profession

2. #AICPA_EDGE Click to edit text styles • Second level - Third level - Fourth level - Fifth level 2 Tweets Welcome! @GriffithsCPA

3. Fenway Park

4. How long before everyone drowns?

5. How much warning will fans have?

6. #AICPA_EDGE 6 We live in exponential times

7. #AICPA_EDGE 7 Moore’s Law Processor Speed Time

8. #AICPA_EDGE 8 Changing Business Models

10. What is a Business Model?

11. #AICPA_EDGE 11 Business Model Canvas

12. #AICPA_EDGE 12 Not Just Tweaks, but Wholesale Changes in the Value Proposition Historical Value Proposition Convenience “Thank you for remembering when my taxes are due and reading all of those new accounting pronouncements so that I don’t have to.” Future Value Proposition Enterprise Value “Thank you for playing a vital role in driving business performance and enterprise value.”

13. #AICPA_EDGE 13 Diversification in accounting firms Source: AICPA Trends survey New hires at accounting firms 2007 41,508 2012 53,092 13% 24%

14. #AICPA_EDGE 14 Aging Workforce

15.

16. #AICPA_EDGE 16 Technological Changes

17. Cloud computing trends Source: Sage North America of small businesses are demanding cloud-based computing 61%

18. #AICPA_EDGE 18 Technology adoption remains slow of firms are using online or cloud solutions to collaborate and share accounting information with their clients 10%

19. #AICPA_EDGE 19 A Case Study in New Software Adoption

20. #AICPA_EDGE 20 Regulation 2002 66 Pages 2010 2,319 Pages

21. #AICPA_EDGE 21 New Competencies

22. #AICPA_EDGE 22 Organizational Structures

23. #AICPA_EDGE 23 Just How Important is Strategic Thinking? Study of 60,000 leaders: “We found that a strategic approach to leadership was, on average, 10 times more important to the perception of effectiveness than other behaviors studied.”

24. #AICPA_EDGE 24 A Picture is Worth a Thousand Words . . .

25. #AICPA_EDGE 25 In Case You were wondering, this is not a picture . . .

26. #AICPA_EDGE 26 Business Model Canvas Exercise

27. #AICPA_EDGE 27 Let’s Connect Dan Griffiths is the Director of Strategic Planning at Tanner, a CPA firm based in Salt Lake City. He provides strategic and business planning, business coaching, and leadership development. Contact Dan at: dgriffiths@tannerco.com Or connect with him on LinkedIn: www.linkedin.com/in/dangriffiths cpa

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