What does a global finance team think about the future of the CPA Profession and the organizations that serves them?
Tom Hood, CPA, CITP, CGMA shares his insights about the trends and issues facing the CPA Profession on a global, national, and local level. He draws on experience designing and facilitating future forums for the CPA Horizons 2025 Project. Talks about legislation and advocacy for professional standards along with the latest trends and issues facing all of us. He closes with tips on maximizing your career trajectory via The Bounce!
3. Beloit College’s 2016 Mindset List
• They have always lived in cyberspace, addicted to a
new generation of "electronic narcotics.”
• Michael Jackson's family, not the Kennedys,
constitutes "American royalty.”
• If they miss The Daily Show, they can always get
their news on YouTube.
• They have never seen an airplane "ticket.”
• They can't picture people actually carrying luggage
through airports rather than rolling it.
• A significant percentage of them will enter college
already some hearing loss.
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4. Beloit College’s 2016 Mindset List
• Having grown up with MP3s and iPods, they never
listen to music on the car radio and really have no
use for radio at all.
• They have had to incessantly remind their parents
not to refer to their CDs and DVDs as "tapes.”
• History has always had its own channel.
• They watch television everywhere but on a
television.
• They grew up, somehow, without the benefits of
Romper Room.
• Bill Clinton is a senior statesman of whose
presidency they have little knowledge.
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9. “…an
indisputable
leadership
challenge
that
ul3mately
requires
new
models,
bold
ideas
and
personal
courage
to
ensure
that
this
century
improves
the
human
condi3on
rather
than
capping
its
poten3al.”
–
World
Economic
Forum
9
10. In our hyper-networked,
mobile, social, global world,
the rules and plans of
yesterday are increasingly
under pressure; the
enterprises and individuals that
will thrive will be those willing
to adapt in a disciplined,
unsentimental way.
Generation Flux is a term that describes all of this -
the chaotic business era that we have moved into - as
well as the people who are poised to thrive in this
environment. - Robert Safian - editor FastCompany
11. The Process – i2a: Strategic Thinking - Future Forums
12. What CPAs think about the future
30 Future Forums
1,000 CPAs
Identified these top trends
http://www.bizlearning.net/live/i2afutureforums
13.
14.
15.
16. The Letter
for today is
C
Change
Complexity
Compliance
Convergence
Cascade
Competition
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17. Complexity
the biggest challenge
facing enterprises from
here on will be the
accelerating complexity
and the velocity of a
79%
world that is operating
as a massively
interconnected
system.
51%
17
21. Top Risks facing CFOs
Organizations are more likely to achieve
Source: Deloitte CFO Signals 2Q 2012 goals when properly communicated risk
appetite guides management in setting
goals & making decisions
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26. Cascade
“a series of steps or stages that,
once initiated, continues to the
final step because each step is
triggered by the preceding one,
resulting in amplification of the
signal, information, or effect at
each stage.”
29. Mary
land
- 10
99R
- 20
08
CPAs in Tax
The increase in IRS
activity is swamping our
tax practitioners and
costing them hundreds
of hours in chasing
down IRS notices.
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37. "For Gen Y, training and development is the most highly valued employee benefit.
The number choosing training and development as their first choice of benefit is
THREE times higher than those who chose cash bonuses."
38.
39. Our new research bears out
that the human dimension –
relationships with customers,
employees, partners and
communities – will be key to
getting things moving again
and sustaining success over
the long run.
CGMA & our Business &
Industry members
45. Top ten skills needed
Source: IBM 2012 Global CEO Study
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46. CFOs moving up the value chain!
The Wall Street Journal, Feb
27, 2012
The current view pushed by
business schools & carried
into the executive suite sees
CFOs as little more than
numbers crunchers who
settle the books & look after
regulatory compliance
The people who have the
strongest grasp of a
company’s finances need to
be part of strategic thinking
from the ground up!
46
53. Staff
Principal/
Decision making Director
by specification, Leading and/or
task specific work
developing new practice
areas, strategic alliances
& talent
Critical
Turning
Senior
Point
Senior
1st level supervision The
on established
Bounce
Manager
guidelines & Assess & understand
standards
longer-term variables
& accomplishing
future goals
Manager
1st level of strategic
thought & focus on
boundary spanning
activities
Copyright 2012 – Business Learning Institute
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55. According to these young professionals, the
future is one in which CPAs:
● are proactive, flexible, adaptive and
collaborative by nature;
● have regained the trust of their clients and
the public at large;
● have successfully bridged the profession’s
“leadership gap” by focusing on succession
planning, personal growth, and generational
cooperation;
● have created the profession’s premier
global industry standards and best practices;
● have redefined the profession through
work / life integration, collaboration, and a
team-first approach; and
● have earned a reputation as technological
innovators. 55
Wisdom from the MACPA Leadership
Academy
Next class: December 4,5,6, 2012
56. 1. Ask the naive question
2. Be the house (measure, odds,
risk)
3. A willingness to try anything
4. look around (especially
outside)
5. Confidence matters - believe
in yourself
Paul DePodesta - VP of Player
Development for the New York Mets
formerly Asst GM of Oakland A’s
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Adopt a moneyball mindset
57. The organizations that will
become the household
names of this century will be
renowned for sustained,
large-scale, efficient
innovation.
The key to that capability is
neither company loyalty nor
free-agent autonomy but,
rather, a strong collaborative
community.
HBR, July-August 2011
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The collaboration curve replaces the
experience curve
60. A leader s
job is to
provide
hope and
inspiration..."
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61. Tom
Hood,
CPA.CITP
CEO
Maryland
Associa8on
of
CPAs
Business
Learning
Ins8tute
(443)
632-‐2301
E-‐mail
tom@macpa.org
Web
hNp://www.macpa.org
Blog
hNp://www.cpasuccess.com
hNp://www,bizlearningblog.com
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62. www.cpasuccess.com
www.bizlearningblog.com
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