MACPA Annual Meeting and Town Hall Professional Issues Update took place on June 18, 2015 at JHU in Rockville, MD. With a love audience of 165+ and another 200 via webcast it set a new record.
This includes the polls held during the session that identified the demographics, top challenges, and other key information from the membership.
4. Demographics – 320 people!
320 people in attendance with an average
of 20.7 years as CPAs!
Business Industry Corporate!
NonProfit!
Government!
Public Practice Audit!
Public Practice Tax!
Consulting CFO Advisory!
Public Practice Financial Planning!
Other!
5. How was this busy season?!
Compared to last year!
8. Are you 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.!
28. Lookout Post
Trends by Segment:
Public Practice
Corporate - Business & Industry
Young Professionals
Students
29.
30. What does this mean for
Small Practitioners?
Sleeter Group Survey 2014
The research: Anticipation is showing up across our Profession.
31. Maryland Public Company Collaboration
• Learning & Talent Development
• Global Structure of Finance
Function
• Managing Risk & Innovation
• Insight to Action
32. 1. Private Companies Dominate!
2. Private Companies create wealth & jobs!
3. Private Companies invest and drive growth!
4. Private Companies are agile & nimble and drive innovation !
33.
34.
35. What does this mean for
Young Professionals?
11 Things Young Professionals
Want You to Know
1. More collaboration.
2. More transparency.
3. Encourage initiative.
4. Focus on strengths.
5. Expect the unexpected.
6. Take time to save time.
7. Look beyond the billable hour.
8. Engage your team in your vision.
9. Be realistic.
10. Train your staff and expect accountability.
11. Take a financial risk on leadership.
36. What does this mean for
Students?
Top 5 Things They Want:!
1. Work-Life Balance!
2. Career Growth & Stability!
3. Competitive Pay!
4. Flexibility!
5. Learning & Development!
Top!
37.
38. want to throw everything up and see where it lands. They want to make it someone else’s problem. But I hav
47. Supreme Court - SCOTUS
ACA and Tax Credits!
Perez vs Mortgage Bankers!
FTC vs NC State Board of Dental Examiners!
Wynne Case - MD out-of-state tax credits!
SCOTUS Allows federal challenge of CO “Amazon Tax”!
69. Sales Tax Resources for MACPA
The MACPA Accountants
Resources Center gives
you the tools you need to
lead your clients through
the complexities and
dynamic challenges of
sales and use tax
compliance.
71. What is the #1 Thing
MACPA does!
for CPAs and CPA
Firms that nobody else
does?!
72. Legislative
Advocacy
“From then on, they are
no longer isolated men,
but a power one sees
from afar, whose actions
serve as an example; a
power that speaks, and to
which one listens.”
– Alexis de Tocqueville, on the
power of Associations in Democracy
in America
73. 3 Levels
2 Objectives
1. Offense: Pass Proactive Bills
2. Defense: Stop Bad Bills
1. Federal
2. State
3. State Board of Accountancy
82. Our 2015 MD agenda
1. Appeal Bond Reform
2. Expanded definition of attest
3. Build new relationships with legislators
1. Stop Sales Taxes on Services
2. Stop Comparative Fault by Trial Lawyers
3. Monitor 2,500 active bills in MD legislature
Numbers Count!
Defense
Offense
83. How we did it
1. Build and maintain Key Relationships with
legislators and regulators (PAC, meetings and
events)
2. Grassroots capabilities through membership -
we can target specific legislators by committee
and district
3. Financial support of key legislators via our PAC
4. High profile events that increase visibility of
CPA Profession (CPA Day for legislators and
Swearing-in for DLLR/State Board)
105. 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
• Kindle
106. Our Digital Transformation Strategy
1. Digitization & workflow –shifting
resources and systems to growth
areas
2. Virtualization – Moving IT
infrastructure to cloud
3. Transformation to cloud – Increase
use of existing systems of
engagement
4. Transformation to cloud – New
cloud based systems –
accounting
5. Transformation to cloud – Move
AMS and MACPA website
107. We identified three major goals for making this shift:!
1. Help employees identify and address the challenges and opportunities that have the greatest imp
2. Help employees strengthen high-impact connections by enabling them to collaborate easily with o
3. Amplify the impact of those efforts by building an infrastructure that allows small improvements to
112. “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
113. 92% of CPAs
are!
NOT
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.!
Source: CPA.COM 2014 CPA of the Future
Study!