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Where is MACPA in the 4th
Industrial Revolution
December 19, 2018
MACPA Thanks our Preferred Providers!
Title of presentation 6
CPA.COM 2018 Innovative Practitioner of the Year and
Chair of Maryland Association of CPAs - Saman...
Title of presentation 8The future is here, it is just not very evenly distributed. - William Gibson
Select your session and join the conversation:
Vote for a question
Respond to Polls
MACPAPIU.CNF.IO
http://bit.ly/PIU112718
Industrial Revolution Transforming Industries & Innovation
There will be more change in
the next five years than the
last fifty years
– Ken Bishop, CEO
“The opportunities for the profession are immense, but so
are the changes we’re facing, If we are willing to go
beyond, to...
• Change will accelerate due to emerging technologies.
• I believe we are underestimating the profession’s understanding o...
#FutureReady
The capacity to be anticipatory
(aware, predictive and adaptive)
of emerging technology and trends
in busines...
Adapt
Predict
Aware
}Future
Ready
Aware
Vaporized
Whatever can be vaporized will be vaporized.
- Robert Tereck author of Vaporized: Solid Strategies for Success i...
Exponential Change
CPE
Passed
1976
MACPA PC
Lab
1984
CPA Island
XBRL
Nano-Learning
IBM Cognitive
Learning
MACPA founded
19...
Tom Peters and CPAs
Source: Deloitte | Accenture
Artificial intelligence Blockchain
Data analytics Cybersecurity
ROBOTICS is predicted to auto...
The shot heard round the world…(at least in accounting)
From KPMG &
IBM Watson to a
small CPA firm in
18 months!
1. Being proactive vs reactive
2. Finding the right people
3. Talent retention
4. Keeping up with technology
5. Succession...
Sleeter Group Survey, 2014
Clients switch firms
because they do not
get proactive
advice, only
reactive (historical)
servi...
83% of SMBs
(CFOs &
Controllers) are
feeling
moderate to
severe
disruption - up
from 71% last
year
Clients switch firms be...
Profession’s Biggest Challenges
Staffing, succession planning, tax reform,
cybersecurity, merger mania,
commoditization of...
#FutureReady
“The bottom line is that CPA firms need to increase
their future readiness in order to successfully
navigate ...
Predict
Predict - HardTrends
Three HardTrends:
1. Government Regulation
2. Technology
3. Demographics
Regulations & Standards
● RevRec
● TCJA
● GDPR
● Wayfair
(SALT)
Technology
McCormick Bots in Accounting (RPA)
6 Days
2 Secs
Source: 2018 Top technology Trends – Burrus Research
BLI-MACPA Research over one thousand finance and
accounting professio...
Demographics
75%of Global Workforce will be Millennials by 2025
Demographics
Demographics
● Want innovative, flexible and diverse
workplaces
● Development of skills to prepare them for
Industry 4.0
●...
Some Examples
http://bit.ly/BLIaoaf
Hard Trend Opportunity Predictable Problem
Increasing use of AI & Machine Learning in
...
Get ready for
the fast future
Adapt
Rebekah Brown, CPA
The Business Learning Institute
Helping your career #FutureReady
“In the next five years, game-changing
technologies will transform every
business process, including how we
sell, market, ...
Proactive Advice = Insights
“In short, firms are primarily using
technology to reduce costs and increase
productivity, ins...
#FutureReady Leader
Attributes
1. Providing Direction (Where
you know the future is going)
2. Enabling Innovation thru
Col...
In a period of rapid change and increasing complexity, the
winners are going to be the people who can LEARN faster
than th...
The skills finance and accounting professionals will need in the future
and the emergence of the T-shaped professional.
#F...
Seven #FutureReady Competencies in
the Age of the Machines
1. Anticipating and serving evolving
needs
2. Strategic & Criti...
Future Ready Competencies in the Age of the Machines
Leadership
Anticipating and
Serving Evolving
Needs
Strategic & Critic...
• I am concerned between your (I believe correct) view of the need for border-
crossing skills and the emphasis the struct...
• Anticipation
• Strategic Thinking
• External Awareness
• Vision
• Continuous
Learning
• Innovation
• Creativity
• Proble...
blionline.org/ao
KNOW WHAT’S NEXT
Transform Planning
Ø Identify Hard Trends
Ø Identify Soft Trends
Ø Predicting Change
Ø T...
IBM – MACPA-BLI
Partnership
Keeping you Future Ready
https://bdu.blifutureready.org
Listen to our podcast
Your MACPA
Connect - Protect - Achieve
https://www.google.com/url?sa=i&rct=j&q=&esrc=s&
source=images&cd=&cad=rja&uact=8&ved=2ahUKE
wi5gsfQpsrdAhWDT98KHcEYD9kQjR...
MACPA National
Leadership in 1903
Max Teichmann established MACPA in
the forefront of the newly created
Federation of the ...
PCAOB Then & Now
Accounting InfrastructureCPA Profession Infrastructure
1. National CPA Associations (AICPA & NASBA)
2. National Laws & Reg...
Swearing - In Ceremony
2019 Legislative Update
• Governor Hogan Re-elected
• Record Turnover 31% or 58 New Legislators - 17 Senators and 41 Deleg...
Arthur Ellis, CPA - District 28, Senate - Democrat
CPA and disabled Air Force
veteran defeated incumbent, Mac
Middleton a ...
Defense
• Comparative Fault - High Risk
• Sales Tax on Professional Services - High Risk
• State Deregulatory Risk - State...
0%
10%
20%
30%
40%
50%
60%
70%
80%
S
top
C
om
parative
Fault(Tort)…
S
ales
Taxes
on
S
ervices
S
tate
Tax
R
eform
C
P
A
Fir...
2018 CPA day in Annapolis
CPA Day 2019 – January 24, 2019
Risk Alert!
CPE Audit & Enforcement $5k fines
Felony Offenses including DUI/DWI
Offense
• CPA Exam Applicant Process Impro...
Tom Hood, David DeJong, Karen Syrylo, Del Frank Turner, Jeff Lawson, Jim
Wilhelm
Members of MACPA State Tax Task Force Tes...
“The accountants profession
presented a large field for
the ladies”
- Max Teichmann, President
at the 1910 MACPA Banquet
1...
2018 Women to Watch
Beach Retreat 2018 Emerging Leaders
Save the Date - June 26-28, 2018#BeachCPE #MACPAPIU
2018 Student Leadership Academy
MACPA Leadership Academy 2018
New / Young Professional Town Hall
Would you recommend MACPA to your friends and
colleagues?
9.3
Informative meeting
Good ...
• What do you think?
Structure & Governance
The Accounting Ecosystem
The accounting
ecosystem is
growing in
specialized areas
and outside
the core
Accounting in the US
1 in 3
graduates
become CPAs
Overall Summary
What do you think about our idea to expand
our membership options?
DILUTION
Biggest Concern
MACPA Board Response
Connect - Protect - Achieve
Therefore, instead of moving to amend the charter of the Maryland Association
of Certified Professional Accountants we kee...
Disrupt yourself
before someone else
does.
- Marc Randolph, Netflix
Closing Thoughts
The easiest thing is
to react. The second
easiest is to respond.
But the hardest is to initiate.
Seth Godin – Author, Agen...
If we fail, it’s not because our
machines are too intelligent, or
not intelligent enough. If we fail,
it’s because we grew...
If there is a conversation about the future of the
profession, you're bound to hear Hood's name
mentioned as one of the pe...
#FutureReady
Reading List• The Anticipatory Organization – Daniel Burrus
• The Second Machine Age – Erik Brynolfsson & And...
MACPA Thanks our Preferred Providers!
SIG University
SAVE THE DATE!
UPCOMING EVENTS
October 10th: ACA: What Stays, What Goes, and What Else?
Speaker: Stacy Barr...
MACPA Discounts
As a Preferred Provider of the MACPA, SIG is pleased to offer all MACPA members discounted group
and indiv...
ADP’s Program for MACPA Members
Benefits for You & Your Firm:
▪ Free* standard payroll processing for your firm with RUN P...
For more information:
Call Candace Coach at 267.966.2834 or visit cpai.com
Providing risk solutions for CPAs
in practice a...
Here’s why accountants love
Botkeeper
Strengthen your expertise
Client Accounting Advisory Services Certificate
(CAAS)
• Blended learning experience
• 7 self-st...
Industry Awards
150 plus customers in six continents
XCM is the premier Productivity Enablement andWorkflow Platform developed by and for tax, accounting, and finance
professi...
Accounting software
powered by people
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