2016 The State of My
Industry: Accounting Tom Hood, CPA, CITP, CGMA fluencer #MyIndustry @tomhood

“We stand on the brink
of a technological revolution that will fundamentally alter the way we live, work, and relate to one another. In its scale, scope, and complexity, the transformation will be unlike anything humankind has experienced before.”

Big Waves of Change

Borrowed from the US Army
War College,VUCA was coined byThe Institute for the Future to describe the rapidly changing and complex business environment since the Great Recession of 2008.

Technology is #1 HardTrend Source:
Miovision July 17, 2013 “The Internet ofThings andTransportation”

From the World Economic Forum
in Davos, 2016

Race Against the Machines? Source:
Frey & Osborne –The Future of Employment – Oxford University

The Fourth Industrial Revolution

Source: CPA.COM Insight into the
CPA of the Future Study 2014 92% of CPAs are NOT Future Ready Future Ready is the capacity to be aware, predictive, and adaptive of emerging trends, innovations and changes in business, population, and the social environment.

Are we at a Strategic
Inflection Point?

A 3-D printed carbon fiber
house and SUV that share energy 1. the construction and building industry, including suppliers, supply chain, and unskilled labor; 2. the automotive and transportation industry, including components makers and the classic assembly line; and, 3. the electric-utilities industry.

Cognitive Computing has three unique
capabilities: 1) natural language processing, 2) hypothesis generation and evaluation, and 3) dynamic learning.

“You can’t stop the waves,
but you can learn how to surf.” – Jon Kabat Zinn Oceans of Opportunity

91% Of firms expect to
continue record hiring levels 11% Projected accounting job growth between 2014 and 2024 Demand for Accounting is Strong And according to the DOL BLS, faster than the average for all occupations

References: US Department of Labor,
Manpower Group Talent Shortage 2015 38% of employers interna2onally report talent shortages in 2015 2009: 30% Employment of accountants and auditors is projected to grow 11 percent from 2014 to 2024, faster than the average for all occupa2ons – US Dept of Labor 2015 Accoun2ng and finance staff #1 in demand #8 in talent shortage Demand for Accounting is Strong

• 2 of Top 10
Best Jobs (US News & World Report) • Top 20 Happiest Professions (Huff Post) • Top 10 in Demand Jobs/Hardest Jobs to Fill – (Manpower Group) And Career is Attractive

# 1 Most Profitable industry
according to Sageworks # 1 In small/mid-size business growth rates averaging 12% in 2016 Demand for Accounting is Strong

The Rise of the #DigitalCPA
Shift fromTangibles to Intangibles

Source:What defines the 21st Century
Corporation Geoff Colvin - Fortune

Cloud computing trends Source: Sage
North America & AICPA PCPS MAP Survey of small businesses are demanding cloud-based computing 61% <10% of CPAs are using cloud-based applications to collaborate and work with clients.

Advisory Services Lead Growth

“The real way it was
in finance—in the world I grew up in—is we spent all our time looking backwards… [Modern Finance and Accounting] is now it’s about looking to the future.” – Safra Catz, CEO of Oracle (formerly CFO)

CFO à COO à CEO
There is a growing trend in CFOs moving to new roles as COOs and even CEOs as they lead business transformation.

Six Steps to Ride the
Waves 1. Embrace Digital. 2. Anticipate. 3. Collaborate. 4. Learning as the next competitive advantage. 5. Protect the Core (Purpose &Values). 6. Make time for the future.

The leaders are the ones
who take the first steps “Tom Hood and his colleagues at the Maryland Associa2on of CPAs never fail to amaze and impress. Some2mes you can find them orchestra2ng a flash mob of accountants or puWng down stakes in the virtual world of Second Life, but most recently the associa2on has goYen serious about XBRL and has undertaken a project to demonstrate XBRL's scope and versa2lity by tagging its own financial statements and showing how non-­‐profits can, well, profit from the experience. “What message can you learn from the MACPA's XBRL project? First, you can start examining your own client base to see who can benefit from the experiences of MACPA. But the bigger message is, stop wai2ng for other people to tell you what works and what doesn't. Be proac2ve and experiment. That's what new technology is all about. Whether it's cloud technology, IFRS and XBRL, social media, or choreographing a dance – the leaders are the ones who take the first steps.” -­‐-­‐ Gail Perry, editor, Accoun2ngWEB Now with CPA Prac2ce Advisor

The leaders are the ones
who take the first steps "If there is a conversa3on about the future of the profession, you're bound to hear Hood men3oned as one of the people leading the way. From his Innova3on Summit to his many speaking engagements, from his prolific tweets to his range of alliances with vendors, other organiza3ons, and thought leaders at all levels, Hood is doing as much as anyone -­‐ and more than most -­‐ to lead public accoun3ng forward.” –Dan Hood, Editor Accoun'ng Today, 2013 Tom and Bill named first and second most influen2al in the world by Savvy SME. CPA Success blog named top 10 in na2on for accoun2ng. Tom named second most influen2al in accoun2ng by Accoun2ng Today. Tom one of inaugural LinkedIn Influencers.

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 Tom Hood, CPA, CITP, CGMA CPA Practice Adviser Accounting Hall of Fame Named the Second Most Influential in Accounting by Accounting Today Magazine 2013 - 2015 Top 150 Influencer by Linked-In Top 25 Influencers in Learning & HR - HR Examiner Top 25 Public Accounting Thought Leaders - CPA Practice Adviser Co-founder of the Business Learning Institute CEO Maryland Association of CPAs (MACPA) www.macpa.org Business Learning Institute (BLI) www.blionline.org http://www.linkedin.com/in/tomhood/