SlideShare uma empresa Scribd logo
1 de 156
Baixar para ler offline
Welcome to the Fall 2009
   Professional Issues
         Update
                An Exclusive Benefit
                For MACPA Members
“A pioneer in using social media and Web 2.0 technologies in
 A                                         20
accounting, Hood (and his team at MACPA) has tapped his
expertise to roll out one of the most extensive sets of resources
in the country for helping CPAs handle the recession.”
             y         p g

                - Bill Carlino, Editor Accounting Today Magazine    1
Keeping Up With Accounting
Professional Issues Update
     2009 Fall Edition




      Tom Hood, CPA.CITP
           Hood CPA CITP
    CEO & Executive Director
   Business Learning Institute
  Maryland Association of CPAs   2
What is the One Thing for CPAs?




                                  3
Q: What is the # 1 Issue facing all CPAs?
A: Keeping up with changing standards & regulations




    “As it relates to science and technology, the rate of
   change in the next decade, is likely to be 4 to7 times
                         decade
  faster than in the last decade. If it is 4x faster it would
   be like planning for 2006 in 1890, if it is 7x faster it
          would be like planning for 2006 in 1670 ”
                                               1670.
     -Expert on Education Panel, The Aspen Institute, 2007
                                                                4
What is the One Thing for CPAs?
CPAs… Making sense of a changing and complex world.




                                                      5
Outcomes for today
       • Understand the trends and
         issues facing your
         Profession and your
         organization
       • Learn about the structure of
         the CPA profession and how
         you can see & influence
         major trends and issues
       • Gain insights that can help
         you jump the experience
         curve as a future leader
       • L
         Learn some ways t d l
                            to deal
         with rapid & constant change 6
What is above knows what is below, but what is
 below does not know what is above. One climbs,
 one sees. One descends one sees no longer but
     sees        descends,                longer,
    one has seen. There is an art of conducting
   oneself in the lower regions by the memory of
 what one saw higher up. When one can no longer
          see, one can at least still know.

                  -Rene' Daumal




“The faster you go, the further
   ahead you have to see.”
                                                7
Insights & Opportunities

“But a time of turbulence
is also one of great
opportunity for those who
can understand accept
     understand,
and exploit the new
realities.
realities It is above all a
time of opportunity for
leadership.”
           p

      - Peter Drucker,
        Managing in Turbulent Times
             g g


                                       8
Action


“The best way to
 The
predict the future
is to create it.”
         - Peter Drucker,
           Managing in Turbulent Times




                                         9
What are MACPA members saying?




Insights form the Spring, 2009 PIU / town hall meetings covering 1,500+ members 10
From the Spring PIUs

What should be MACPA s #1 priority?
                  MACPA’s
Advocacy with regulators & legislators
Protecting our CPA license
Insuring integrity of the CPA profession
Education




                                       11
From the Spring PIUs

If I were chair of the MACPA, I would…
                            ,

 Many began their response with ‘continue’ – as
 in
 i continue to: enhance the image of CPAs,
       ti    t      h     th i         f CPA
 improve the types of education offered, recruit
 young people into the profession
 Attract & retain top candidates to the
 profession
 Promote integrity of the profession
 Increase networking opportunities
 Offer more low/no cost CPE

                                             12
From the Spring PIUs

What phrases, images or words caught
 your attention?
       tt ti ?

Generations
IFRS
XBRL
Social Networking
Transparency
Change!

                                   13
Our Agenda
Act 1
   The one thing all CPAs need
    to k
       know
   Economy Update
   Regulations & Standards

Act 2
   Workforce
   Technology
   Issues facing CPA firms
   Issues facing Business
    Industry Government CPAs

Act 3
   Image & Public Perception
   Toolbox – MACPA Resources     14
What will the new normal look like?


“It is increasingly clear th t th
    i i       i l l       that the
current downturn is
fundamentally different from
recessions of recent decades
                       decades.
We are experiencing not
merely another turn of the
business cycle, but a
            cycle
restructuring of the economic
order.”
         – Ian Davis, McKinsey
           Quarterly March, 2009




                                              15
16
The new normal – Wall Street?
 1920 - 2008      2008 - ????




                                17
And don’t forget Health Care Reform
    don t




                                      18
Now what? I like this approach!




Time to get tough.
Time to get smart.
Ti   t    t      t
Time to get going.
Who’s with us?




                                        19
Regulators cannot keep up with Commerce
  g                  p p
   “Even the regulators can't 
   keep up. A Senate study in 
   keep up A Senate study in
     2002 found that the SEC 
      had managed to fully 
    review just 16 percent of 
    the nearly 15,000 annual 
     reports that companies 
        p               p
   submitted in the previous 
     fiscal year; the recently 
     disgraced Enron hadn t 
     disgraced Enron hadn't
        been reviewed in a 
             decade."

Source: Wired magazine  17.03 March, 2009
                                            20
Regulations & Standards




                          21
Where do major changes come from?

Us – MACPA & AICPA   Them - lawmakers

                OR




        State              Federal




                                          22
“the basic physical and organizational
     structures needed for the operation of a
      t   t        d d f th          ti   f
              society or enterprise”




The infrastructure for the free market was found to be in disrepair
  in this latest market crisis and the CPA profession is a critical
                              component

                                                                      23
Three Drivers
   • Fair Market Value (Acctg Standards)
   • Futures & Derivatives
   • Investment Advisors & Broker-Dealers




When is the last time these guys had accounting as the major topic of their agenda?
                                                                                  24
Bernie & His auditor
     David Friehling, CPA faces 105 years in prison
     For issuing false audit reports
    •S l P
      Sole Practitioner
                ii
    • Accused of issuing 
    audits of Madoff 
    Securities
    • Lied on AICPA 
    membership renewal 
    about peer review
    about peer   review




                                                      25
What will a
modernized
financial
services
regulatory
reg lator
scheme
include?



              26
Latest proposal
1. Promote robust supervision
   and regulation of financial
   firms
2. Establish comprehensive
   regulation of financial
   markets
3. Protect consumers and
   investors form financial
   abuse
4. Provide the government with
   the tools it needs to manage
   financial c s s
      a c a crisis
5. Raise international regulatory
   standards & improve
                     p
   international cooperation
  http://www.financialstability.gov/docs/regs/FinalReport_web.pdf

                                                                    27
Should Congress Set Accounting Standards?




                                       28
The Real Costs of Changing FMV?
“Confidence, trust, and numbers that investors
can believe in are the stuff that make or break
the capital markets. When investors question
the validity of numbers, they sell and wait,
rather than buy and invest.

Yet those charged with building confidence and
                     ith b ilding
trust and presenting numbers that can be
believed are under sustained attack -- and they
are losing.”
         g


- Arthur Levitt, Weakening a Market
Watchdog in Washington Post – March 26
                                    26,
20009




                                                  29
Reps. Ed Perlmutter, D-Colo, and
 Frank Lucas, R-Okla, introduced
HR 1349 which would create a new
  Federal Accounting Oversight
 Board to oversee the application
of generally accepted accounting
            principles




                                    30
First PCAOB now FAOB?
  Financial Accounting Oversight Bill




  New 5 member oversight board
proposed by Congress – March 6th,
          y    g
             2009
                                        31
What is under the CPA Profession?




    Question: When do you think about infrastructure?
                       y
    Answer: when it breaks!

                                                        32
Federal Laws & Regulations – SEC,
  DOL, Treasury, GAO, PCAOB

   CPA Profession Standards – AICPA
   & FASB, GASB FASAB, IASB, IFAC
     FASB GASB, FASAB IASB


   State CPA Statutes
police power of the states to protect their citizens vs commerce clause

                                                                          33
Another View
              Public Company   Private Company    Int’l Company


Financial         SEC              FASB              IASB
Reporting
                  FASB             PCFRC          IFRS & SME

Attest
                                  AICPA
Performance
Standards
               PCAOB                ASB
                                                   IAASB

Code of          AICPA            AICPA
Conduct
                  PEEC              PEEC
                                                    IFAC

 CPA
 Licensure       State Oversight & Enforcement of CPA License

                                                                  34
US Treasury




MD Comptroller
 MD Comptroller




MD Comptroller




                                                                                              CAQ




                  Courtesy of the Maryland Association of CPAs – 2008 edition                       35
                                 Drawing by Carol Kirwan, CPA
Standards Changes
•   AS 5 - PCAOB
•   IFRS – SEC International gets legs (again)
•   Fair Value Accounting
•   XBRL – SEC mandatory
•   Codification Project – FASB
•   Clarity Project – ASB
     – Convergence with international
•   Reliability Project (comps & reviews)
•   DOL 403 (b) Plans
•   Internal Control – COSO
•   Fin 48 effective 2009
•   Form 990 C  Changes
•   Fraud & Forensic SAS 99



                                                 36
Fraud Alert!
• Madoff scandal has created
  a major focus on fraud
• Extra attention to identifying
  fraud opportunities during
  the planning phase of an
  engagement
• Robust SAS 99 work is
  required
       i d
   – Professional skepticism
   – Meaningful brainstorming
            g                 g
     sessions
   – No “checklist” mentality
                                   Remember this guy? Ken Lay - Enron
• Expect aggressive
  enforcement by regulators
                                                                        37
Where do major changes come from?
Us – MACPA & AICPA   Them

               OR




                                          38
“No man’s life, liberty, or
                      happiness are safe when
                      the legislature is in session”
                                            session
                                     – Mark Twain

IRS Section 7216
Circular 230/Section 6694
Proposed regulation/registration
         of tax return preparers
SSTS exposure draft
Tax strategy patents legislation
Latest developments on e- filing
Extended due dates for returns
Proposed Consumer Financial Protection Agency legislation
Cell phone developments
Trust fee deductibility
Estate tax developments
FTC red flags                                               39
How we spent our summer vacation
• Testifying at Maryland
  Business Tax Reform
  Commission Hearings
• Advocating changes to MD
  Franchise Law
• Attending IRS Tax
  Preparers hearings
• Ad
  Advocating f IRS FTC
          ti for IRS,
  red flags, and Consumer
  Financial Protection Act




http://www.cpalegislativeinsider.com
                                       40
MACPA’s 2010 Agenda

•   Stop sales Tax on Accounting & Tax services
•   Comment on combined reporting
•   Stop efforts to liberalize tort laws (lawsuit abuse)
•   Support State Board 120/150 legislation
•   Stop efforts to repeal Peer Review


                                    CPA Day in Annapolis
                                      January 20, 2010


                         Visit http://www.cpalegislativeinsider.com

                                                                      41
Maryland & Federal Tax Preparer Law
    Threats to
    Th t t your CPA License
                        Li
• Well intentioned consumer group
• Solving a problem – low income tax
  frauds
• But…creating problems for CPAS
  – Licensed / Certified Tax Preparers
                                 p
    would be confusing to the public
  – Tax Preparer Exam using ACAT /
    H&R Bl k d i
         Block designation (ATA ATP)
                        ti (ATA,
    opens door for second tier license
  – Misinformation / confusion

                                         42
Questions we are asking:
Then why did they oppose the
“experience requirement”, mobility? Why
   p          q                  y       y
did they support tax preparers act (with
negative provisions against CPAs)?
                                             43
What we did about it…
      Maryland Individual Tax Preparers Act
• Requires registration and
  examination of all tax preparers
• Registered Tax Preparers (cannot
  use terms licensed or certified)
• CPAs and staff are exempt (along
  with other Circ 230 Practitioners)
• Out of state CPAs exempt
  Out-of-state
• Independent Regulatory Exam
  required
    q
• Safe Harbor disclosure required
   – “I am not a CPA”
• MACPA seat on State Board
                                              44
45
Sales Tax on Services
• Should accounting services be taxed?
• We’ve fought and won on this numerous times --
  We ve
  -- but times are changing
• 19 states are considering taxing services
                          g      g
• Could be an issue in 2012-2013 budget
  – Loss of the one-time bailout funding leaves an $8
                                       g
    Billion hole to fill
• QUESTION: Should this continue to be a
  bedrock issue for MACPA?



                                                        46
120 – 150 H
          Hour P
               Proposal
                      l
          • 120 ho rs to sit for CPA
                hours
          Exam
          • 150 hours required for
          licensure
          • Five – Six years to
                       y
          complete
          • CPE required to stay
          currentt



                                       47
Improving Your Infrastructure
            The CPA License

• The AICPA & your State CPA Society




                                       48
CPA Mobility Legislative Activity 2009



                       WA
                                                                                                                    VT
                                            MT                                                                               ME
                                                      ND
                                                                  MN
                     OR                                                                                                            NH
                                 ID                                             WI
                                                      SD                                                                                MA
                                                                                                                   NY
                                             WY                                               MI
                                                                                                                              CT    RI
                                                                     IA                                      PA
                         NV                           NE                                                                     NJ
                                      UT                                                           OH
                                                                                IL       IN                                  DE
                                                 CO                                                     WV
                CA                                                                                            VA              MD
                                                        KS              MO                    KY
                                                                                                                              DC
                                                                                                               NC
                                 AZ                                                      TN
                                                            OK          AR                               SC
                                             NM

                                                                                MS       AL         GA
         AK
                                                       TX                  LA
                                                                                                                                      PR
                                       HI                                                                 FL

                                                                                                                        GU
      2009 -2010 Anticipated                                                                                                          V
      Legislative
      Activity
                                                       Mobility Enacted - 45
                                 No Formal Activity                                                      Legislation Introduced - 1
                                                       Mobility Enacted Only for Other
                                                       Mobility States -2 (GA PA)                                                       49
AICPA March 2009
Recent Leg / Reg Changes you need to
                   know!
                      o
   New Mobility Law
   Maryland Individual Tax Preparer Act
       y                       p
   New Corporate Reporting Requirements
   Peer Review Requirement – October 1st
   New CPA Exam Requirements
   New CPE regulations
   Mandatory e-file
    M d t        fil
   New Non-Profit Audit Requirements > $500,000
   Workplace Fraud Act - MD Independent
    Contractor Legislation

                       CPA Day in Annapolis
                         January 20, 2010
                                                   50
New CPE Regulations
• New approved
  fields of study
• CPE = CPE
• Changes in rules
  for accounting
  educators
• Effective May 18,
  2009




                                  51
History of CPA Legislation
 KEY                     In the 
                       Beginning...
                    Max Teichman,               Rights & Recognition
 GOALS/                                           •Privilege of Self-
RESULTS            Frank Blacklock & 
                   Frank Blacklock &                                                                AG opinion of 1981
                    William Rogers                   Regulation                                                                          SB 560 Defeated
                                                                                                    Grants rights to non‐             Maryland Corporate 
                                                •Right to Sole Control                              CPAs for Reviews &                  Accountability Act
                                               over an Area of Practice                                   Comps.           MACPA requests 
                                                                                                                        reversal of AG Opinion                         HB 1296 
                                                                                                                        – “This is not an audit” 
                                                                                                                           language added
                                                                                                                                                                       Mobility 
                               • CPA Bill signed April 10, 1900
 PROJECTS/                       • MD is 3rd state (NY & PA)
                                 • MD is 3 state (NY & PA)
                                                                                                                                    MACPA wins use of                   Passes
STRATEGIES                                                                                                                         “consultants” in firm 
                                                                                                                                    letterhead at State 
                                                                                                                                                         Maryland 
                                                                                                                                           Board
                                                                                                                                                          Special 
             State Board of                                                                                                                               Session
                                                                                                                                         Accounting     Oct – Nov 07
              Accountancy                                                                                                                Reform task 
                formed                              Maryland                                                                                Force 
KEY EVENTS                                      becomes the 1st
                                                becomes the 1
                                                                                                                                          addresses          MACPA  defeats Sales 
                                                                                                                                             SOX
                                                 state to restrict                                  HB 1261 re‐writes               State Board Hearing        Tax on Services
                                                practice for CPAs                                    CPA Law ‐ 1986                     May 1, 2003           Amends Corporate Tax 
                                                                                                     MACPA amendments                                          Reporting  Bill from 
                                                                                                    to ed requirements fail
                                                                                                                                                                 special session
PEOPLE                                                                                                                     MACPA Forms Task Force  and 
                                                                                                                                surveys members
                                                                                                                                surveys members                 New simpler CPA 
                                                                                                                                                                       p
                                                                                                                               88% Sub Equivalency            exam Education Rules
                                                                                                                          76% Peer Review & Safe Harbor
                                                                                                                            68% Non‐CPA Ownership
                                                                                                                              Terry Hancock
                                                                                                                             chairs Legislative 
PRODUCTS/                                                                      Larry Kamanitz 
                                                                                                          Dawson Grove         Committee           Allen Deleon 
SERVICES/                                                                     chairs Legislative 
  SITES                                                                          Committee
                                                                                 C      itt
                                                                                                         chairs Legislative 
                                                                                                                  g                              chairs Legislative 
                                                                                                                                                          g
                                                                                                           Committee                                Committee




Dateline
                1900      1901       1922        1924             1974 1976            1981 1987 1993                 1999 2001 2003 2005 2006 2007 2008
                                                        Maryland Association of CPAs                                                                                               52
IFRS – International
Financial Reporting Standards




"Accounting standard setters should take action to
make significant p g
        g         progress towards a single set of high
                                           g         g
quality global accounting standards by the end of
2009.“ – from G-20 Report The Washington Action Plan



                                                          53
SEC Roadmap released
Early adopters                    Large
can file using                  Accelerated
     IFRS                         Filers                    Small-caps
     2010                          2014                       2016




                     2011                        2015
                 Official SEC                 Accelerated
                  decision                      filers –
                     point                      second
                                                 wave




                                                                         54
Corporate Con ersion Timeline
          Conversion




                                55
How Does IFRS Affect You?




                            56
IFRS: Some Say It’s Simpler




2,500 pages        25,000 pages
                                  57
IFRS – GAAP Differences
• Substantive vs. cosmetic
  – Provisions vs. contingencies
  – Different valuations or classifications
• Temporary vs. permanent
  – Development costs – IFRS capitalizes GAAP expenses
  – No LIFO method in IFRS
• R l vs. principles
  Rules     i i l
  – Leases
  – Asset definition




                                                         58
IASB/FASB Convergence
• Hope to complete convergence by 2011
• Outstanding Issues:
   – Revenue recognition
   – Financial statement presentation
   – Leases
   – Financial instruments
   – Liabilities and equity distinctions
   – Consolidations
   – Derecognition
              g
   – Post-employment benefits



                                           59
60
Potential Versions of 
           Private Company IFRS
                        IFRS with 
                       differential 
                        reporting
     U.S. Adapted 
     U S Adapted        (accent)        Separate U.S. 
                                        S         US
       version of                         Private Co. 
    Private Entities                   GAAP –
                                       GAAP – Revised 
       (Dialect)                           (PCFRC)



                                               Separate U.S. 
IFRS SME
                        Private                   GAAP‐
                                                  GAAP‐
                            p y
                       Company                  Maintained 
                                               and Updated

                              61
Workforce / Pipeline




                       62
Pipeline - Good News
  p
                    20% avg increase in
                  Graduates & enrollments!




                                        63
Supply and Demand Trends
• Accounting enrollments continue
  on an upward trend, advancing
  4.7% in 2007-08 …
  – All degree levels – Bachelor’s,
    Master’s and Doctoral – show
    increases.
• Capacity constraints in accounting
  programs continue to be a
  concern, one likely to be
  exacerbated by current economic
  conditions.
  conditions
• Shortage of PhDs causing
  students to be turned away

                                       64
New CPAs in Maryland – Filling the Pipeline
350


300
                                                      291
250

                                           236
200
                              194
150               166

100


 50   74

  0
      2004        2005        2006         2007       2008   65
Maryland Pipeline

Primary  College  CPA Exam   CPA   MACPA                  Engaged
School  Student Candidate                  MACPA CPA
                                   CPA                    Retiree
Student                                    Career Paths
                                   NYPN
1,373 1,818         399                    8,047




                 •Drive to  
                 CPA Exam
                 •Reach 
                       h
                 employment  
                 influencers
                 •Career 
                 changers
                  h


                                                                    66
Here comes the Net Generation
"There is plenty of cause for alarm and/or optimism
 There
when it comes to my generation; even I can see
that. Still I think the negative views of us come from
a fear of the unknown, a fear of change. Our world
is evolving at a rapid rate, and that can be scary for
older generations
  ld             ti
                — Savannah Jones, 17, Portland, Oregon




                          NGenophobia—the irrational and morbid
                          fear of youth, especially with regards to
                          their use of the Internet



                                                                      67
Four Generations in the Workplace
                  Issue: Generational Differences


•   Matures       64 - 100
•   Boomers       45 - 63
•   Gen X          29 - 44
•   Millennials   10 - 28

Which one are you?




                                                    68
Staff Shortage + Four Generations in
              workplace = Trouble!
90,000,000
80,000,000
                                   Staff
70,000,000                       Shortage


60,000,000
50,000,000
40,000,000
30,000,000
20,000,000
20 000 000
10,000,000
         0
             Matures   Boomers   X'ers      Millenials
                                                         69
The Future of Work

• In 2019, Gen X will finally be in
  charge. And they will make
       g         y
  some big changes.
   – collaborative decision-making that
     might involve team members
     scattered around the world, from
     Beijing to Barcelona to Boston,
     whom the nominal leader of a
     given project may never have met
     in person.




  From Time Magazine – The Future of Work
                                            70
Generation Gap? Or Generation Lap?
            Generations

                   One third (35%) of American adult internet
                   users have a profile on an online social network
                   site, f
                         four times as many as three years ago, but
                   still much lower than the 65% of online
                   American teens who use social networks




         “In 1997, young people for the first time were
         recognized by adults as being authorities on
         something t l revolutionary – di it l t h l
               thi truly      l ti       digital technology,
         interactive media, and collaboration.”
                           – Don Tapscott “Growing Up Digital”
                                                                      71
Eight Net Gen Norms
1. Freedom – The freedom to work when 
   and where you want
2. Customization – My job my life
3. Scrutiny – I know what you did last night
4. Integrity – Be a good company to work for
5. Collaboration – Teamwork
6. Entertainment – Work should be fun
7. Speed – Let’s make things happen now!
8. Innovation – Let me invent


                                               72
gy
Technology




             73
•   Information Security        • Training & Competency
    Management                  • Identity & Access
•   Privacy Management            Management
•   Secure Data File Storage,   • Improved Application &
    Transmission and              Integration
                                      g
    Exchange                    • Document, Forms, Content
•   Business Process              & Knowledge Management
    Improvement / Work Flow     • El t i D t R t ti
                                  Electronic Data Retention
•   Mobile & Remote               Strategy
         p
    Computing g

                                                              74
Transparency Now! – A Wired Manifesto




                                            www.xbrl.org   75
Source: Wired magazine  17.03 March, 2009
Technology & Web 2.0
By 2010 Millenials/Gen Y-ers will outnumber
   2010,               Y ers
             Baby Boomers.




                                              76
This is a Social Network 
Thi i S i l N t        k




                            77
The New Math



           Social Networking (Old)

+                   Social Media (New)

=   A change in the way we build 
    A change in the way we build
                    relationships
    Source: Matt Goddard, CEO R2integrated 
                                                        78
Old School vs. New School

Chamber of Commerce


  Class Reunions


      Friends and Family

  E‐mail

       Industry Meetings
       I d t M ti

   Newsletters

                                                  79
It s all about your Whuffie
     It’s all about your Whuffie
Whuffie is the culmination of your reputation, 
   influence, bridging and bonding capital, 
   i fl        b id i     d b di        i l
 current and potential access to ideas, talent 
     and resources, saved‐up favors, and 
         d               d     f         d
               accomplishments.
      ‐ Tara Hunt “The Whuffie Factor”




                                              80
It’s about the Network Effect


                       Metcalf’s Law
           "states that the economic value of a 
           network increases like the square of 
           network increases like the square of
          the number of its nodes, or the law of 
             increasing returns. Usually, when 
           people share a piece of equipment, 
            the return diminishes. When more 
           people are engaged in the network, 
           more value is returned to the user."




                                                    81
It’s about the Network Effect


                                                        How big is 
                                                          your 
                                                        network?




“In a sentence {to recognize a network} means ‘To discover how A, who is in touch with C,
Is affected by the relation between B and C.” – Russ Eckel “Becoming the Eye of the Tiger”

                                                                                       82
Whuffie Example




                  83
Get found  Digital Footprints
Get found – Digital Footprints




                                 84
Our Journey…
• Share

• Listen & Learn

• Communicate

• Connect




                                  85
Meet your customers where they are




                                     86
Results  By the Numbers
          Results – By the Numbers
• Youtube
  –   Defining Americas CPA
      Defining Americas CPA     6,513
                                6 513
  –   CPALearning2                793
  –   Financial Literacy        2,459
  –   New CPAs swearing‐in        326

• Slid h
  Slideshare
  – Professional Issues         5,304
  – Web 2.0 & Second Life
    Web 2.0 & Second Life       3,253
• Blogs                       10,000 + per month
• Podcasts                      ???

                                             87
Results  By the Numbers
              Results – By the Numbers
• Facebook
   – MACPA                           177
   – NYPN                             58
   – Tom Hood                        201

• Linked In
  Linked‐In
   – MACPA                           373
   – Tom Hood                        412
• Second Life
  Second Life                        483

• Twitter
   – MACPA                            884
   – Bill Sheridan                  1,203
   – Tom Hood                       1,589



                                            88
Benefits of Social Media
          Benefits of Social Media
•   Share & discuss information
•   Increase ability to connect to more people
    I           bilit t       tt            l
•   Increase ability to manage more relationships
•   Customer service & support
    Customer service & support
•   Tool for recruitment & retention
•   Information & knowledge management
•   Increased findability on web (SEO)
•   Brand management
•   Accelerate your strategy
    Accelerate your strategy
•   Did I say it’s cheap?


                                                    89
And what about CPAs?



•   54% are on LinkedIn
•   48% are on Facebook
    48% are on Facebook
•   21% are on Twitter
•   61% attend webinars
    61% attend webinars
•   36% read blogs
•   28% listen to podcasts
    28% listen to podcasts
                                90
Marketing Strategy 2.0
                 Website



                                  e‐mail
Twitter
T itt
                               newsletters




                            Social 
          Blog
                           Networks


                                             91
Andrew Rose – Naden / Lean




                             92
93
What is a blog?
• A Web site of news and commentary that 
  allows readers to give feedback about what 
  allows readers to give feedback about what
  they are reading.




                                                94
What can a blog do for you?
        What can a blog do for you?
 Establish your company as a thought leader
  Establish your company as a thought leader
 Reinvent your marketing strategy
 Build communities and improve customer 
relations
E h
 Enhance legislative advocacy
         l il i       d
 Expand your brand




                                               95
James Carroll, CPA
      James Carroll, CPA
Website              Facebook




           Twitter




                                96
James Carroll, CPA




                     97
98
Last two stories
                  Last two stories
• Client contact via
  Client contact via 
  Facebook
• Staff relations via 
  Facebook




                            Leadership & Social Media 
                            – panel of young professionals
                            AICPA Leadership Academy
                            Chicago, 2009
                                                             99
Top Six Reasons Companies are Still 
       Scared of Social Media
       Scared of Social Media
        1. Employees will waste time with social media
              p y
        2. Haters will damage our brand
        3. We’ll lose control of the brand
        4. Social media requires a real budget! It’s not 
           really cheap or free
        5. They’re scared they’ll be sued
        5 They’re scared they’ll be sued
        6. They’re scared of giving away corporate 
           secrets…

                      Source: B.L. Ochman’s whatsnextblog.com



                                                            100
Challenges
• Social media requires 
  loosening the reins on 
  technology platforms and 
  access
• Social media management 
  requires constant care and 
  feeding, as well as 
  feeding, as well as
  monitoring
• Because social media is 
  MASS media, mistakes 
             di     it k
  and missteps are 
  a p ed
  amplified 
                                101
Social Notworking?
           Social Notworking?
This is defined as “The 
   s s de ed as       e
practice of spending time 
unproductively on social‐
networking websites, 
         k       b
especially when one should 
be working, or When you 
be working ” or “When you
spend all days at your job on 
social networking sites such 
                   g
as facebook,myspace and 
twitter.”

                                 102
“If you think about the media environment an average 
        American teenager lives in, to walk into a classroom (or 
          your company or firm) that doesn’t have any of that 
                media must be like walking into a desert.” 
        – Steve Maher, High School teacher PBS Special “Growing 
          Steve Maher, High School teacher P S Special Growing
                               Up On‐line”

• To ban or not to ban? A recent University of
  To ban or not to ban? A recent University of 
  Melbourne study showed that people who use the 
  internet for personal reasons at work are about 9% 
  more productive than those who do not.
  more productive than those who do not.




                                                           103
Research says…




          "One day at work they took away our tools, like
           One day at work they took away our tools, like 
          Facebook, Pandora, Bebo, NPR. Work is slow 
          now, cold and boring." —STEVE RESSLER, 27, 
          TAMPA, FLORIDA



In a social environment based on networked individualism, the
internet s
internet’s capacity to maintain and cultivate social networks has real
payoffs (in the workplace).”– “The Strength of Internet Ties” Report
                                                                         104
Sooooo….
Social Notworking is a 
managerial problem, not a 
technology problem.

If a salesman spends his day 
 making personal phone calls 
 rather than phoning potential 
 customers, the solution is not 
 to take away the phone. The 
 solution is to make clear what 
 is and is not acceptable 
 i    di     t      t bl
 behavior and…
                                   Discussion at AICPA Leadership Academy
                                   Discussion at AICPA Leadership Academy
                                   Chicago, July, 2009
                                                                     105
Risk Management
• Educate & train your staff
• S t
  Set security & usage policies
            it &          li i
• Restrict Access during certain 
  times (if you have to)
• Monitor – using search & 
                 g
  google alerts




                                    106
Educate yourself




 http://www.cpalearning2.com   107
Next steps…
1.   Educate yourself –
     www.cpalearning2.com
2.   Create your digital footprint. Create 
              y      g        p
     profiles on Facebook, LinkedIn and 
     Google. 
3.   Start listening. Use Google Reader or 
     Bloglines to begin reading thought
                to begin reading thought 
     leaders in your profession or areas of 
     interest. 
4.   Continue listening. Create your Twitter
                listening. Create your Twitter
     account and follow your profession and 
     areas of interest. 
5.   Start sharing. Create a blog and record 
     your thoughts. 
            h     h
6.   Share. Recognize and promote the 
     people you find interesting. 


                                                 108
You can…Ignore it
    Fight it or
    Fight it or
Harness it’s power




                     109
Five Learning Trends for 2009

1.Mobile Learning
2.DIY - Do-it-Yourself
  Learning
3.Flexible Learning
  Environments
4.Virtual Worlds
5.Games & Simulation

       Chief Learning Officer Magazine – January 2009   110
To be a guild master in a game like World of Warcraft, you need to 
                            ,                 g            p
be able to create a vision, find recruits and give them a platform 
on which to learn, and orchestrate the group's strategy. To me, it 
sounds a lot like the skills a corporate executive needs, doesn't it? 
                                                                         111
– Don Tapscott “Grown Up Digital”
FASB is there!




                 112
Accounting Educators in Second Life
Dr. Mike Kraten
Suffolk University
Dr. Robert Bloomfield
Cornell University
Dr. Steve Hornik
University of Central Florida




                                          113
Issues Facing CPA firms




                          114
Say what?
                           y
• “An increase of larger firms will result from an
  increase in mergers. Accounting firms will look
  more like law firms in terms of size.” -Marc
  Rosenberg
• “There will be more large firms.” – Marc
  Rosenberg
• “Mergers and acquisitions will increase.” – Jeff
  Pawlow, The Growth Partnership
 IPA Consultant Predictions – Jan, 2006




                                                     115
PCPS/TSCPA MAP Survey 2009
 Top Five Issues Facing Firms 21+
1. Client Retention
1 Cli t R t ti
2. Marketing / Practice Growth
3.
3 Tax Law Changes &
   Complexity
4. Keeping up with Regulations &
          g            g
   Standards
5. Retaining Qualified Staff /
   Work/Life Balance

For larger firms add Partner
Accountability & Succession Planning         Mark Koziel, CPA
                                                  Koziel
                                             AICPA PCPS
                    http://pcps.aicpa.org/
                                                                116
Top 20 Reasons to Stay with a Firm




4 out of top 5
13 out of 20
Have nothing to
do with $$$ and
everything to
do with culture!




                                               117
To put it another way – firms are under investing significantly
           in the things that really make a difference.
           i th thi      th t    ll    k    diff

                                                             118
7 Keys to Success in CPA Firm
                    M
                    Management  t
                                          1. Leadership p
                                          2. Technology
                                          3. Learning Organization
                                          4. Marketing & Business
                                             Development
                                                    p
                                          5. A great Place to Work
                                          6. Client Service &
                                             Satisfaction
                                          7. Strategy Execution
                                                   gy
Source: Rick Telberg – Bay Street Group

                                                                     119
Trends to watch
 “Billable Hour” Under Attack
In Recession, Companies Push Law Firms
          for Flat-Fee Contracts
              Flat Fee

              The Wall Street Journal
                 August 24, 2009




                http://www.verasage.com/


                                           120
CPAs in Business, Industry,
Government & NFP




                              121
The Year of the CFO




As financial skills are valued more highly, CFOs will
make it to the corner office in greater numbers than
before. Recession, credit crunch and the increasingly
complex nature of global companies will all play
directly into the bean counter’s hands.
                        counter s hands
                                Source: The Economist Magazine The World in 2009 Nov, 2008


                                                                                             122
Top Concerns of CFOs:
     Concerns About the Macro Economy
1. Consumer demand
2. Credit markets/interest rates
3. Federal government policies
4.
4 Housing market fallout
5. Cost of nonfuel commodities
6. Cost of fuel
7. Currency risk
8. Foreign competition
9.
9 Environmental regulation
10. Trade policies & trade agreements

                   CFO magazine – July/August 2009
                                                     123
Top Concerns of CFOs:
          Concerns About Their Own Company
1.
1   Ability to forecast results
2.  Working capital management
3.  Maintaining morale/productivity
4.
4   Balance sheet weakness
                      eakness
5.  Attracting & retaining qualified
    employees
6.
6 Cost of health care
7. Managing IT systems
8. Supply chain risk
9.
9 Pension obligations
10. Protection of intellectual property

     CFO magazine – J l /A
              i     July/August 2009
                              t

                                             124
A Hard Job in Hard Times
• “Doing more with less has been the 
  mantra of the last half‐dozen years.”
  mantra of the last half do en ears ”
  – VP of Finance
• “Quite simply, we are being required 
  to do more with less resources.
  to do more with less resources ”
  – Director of Tax




                      125
IFRS Opportunity? – Meet Joe Box, CPA - CFO of
            Joe M
            J Money Machinery
                       M hi
                “Well, the IASB is coming out with a simplified
                version for private companies With IFRS you mark
                                     companies.       IFRS,       mark-
                to-market more assets. We're a 72-year-old
                company that has real estate on our books at
                historical cost, so there could be a big benefit in
                                                       g
                IFRS based on the substantially higher fair market
                value for that property. Any private-company CFO
                should be knowledgeable about it, to determine
                whether to consider adoption ”
                                      adoption.

                “But even more importantly, it has been my
                objective that our key bankers consider me
                knowledgeable in the issues important to their
                commercial portfolio. XBRL is another one.”




                                                                          126
Five Ways to Stay Ahead of the Curve
1. Keep abreast of the activities of accounting standards
1 K       b      t f th    ti iti  f       ti    t d d
   bodies.
2. Consider the positive impacts of voluntarily publishing a
   sustainability report.
3. Align data collection and consolidation processes.
4. Reduce the reliance on spreadsheets.
5. Become familiar with XBRL.




                             Source:
                             The Future of Financial Reporting: A Market Perspective
                             An Oracle White Paper , July 2008
                                                                                  127
CFO Opportunities
• Business process efficiency –
  LEAN
• Cash flow & Financing
            g
• Risk Management
• Budget Scenarios
• Young Professionals –
  reverse mentoring
• IFRS & XBRL
• Sustainability Reporting
• IFRS - SME

                                  128
Image of the CPA




                   129
Image is better than pre-Enron highs




  The future success of the CPA profession relies a
      great deal upon public perception of CPAs'
                                           CPAs
                   abilities & roles
                  - CPA Vision Project                130
Attitudes toward CPA Credential
      Attitudes toward CPA Credential
         76%
           %      74%
                                          66%
                                 60%

                                                                   43%
                                                                                         Investors
                                                       31%                               BDMs




More confident in a job                               Accountants certified by non‐
                               CPA requires more 
done by a CPA than if it                              U.S. organizations, such as the 
                             rigorous training and       Association of Chartered 
   were done by an          testing than any other    Certified Accountants (ACCA), 
 accountant not a CPA.
 accountant not a CPA         financial credential.
                              fi    i l d i l          are just as qualified as CPAs.



                                                131
...And Business Decision Makers
             ...And Business Decision Makers
                                                % Negative perception                                                     % Positive perception


                                   100%   80%    60%           40%          20%              0%
                                                                                              0%        20%           40%                 60%     80%   100%

                          physicians                                                    3%                                                 57%

Certified Public Accountants (CPAs)                                                      2%                                         48%

     Chief Executive Officers (CEOs)                                                7%                                        42%

      Chief Financial Officers (CFOs)                                                  5%                                     41%
                        Tax advisors                                                   4%                           29%
                  Financial planners
                                                                                 11%                            26%
                          Attorneys
                                                                           18%                                 25%
     Accountants who are not CPAs
                                                                                  9%                          24%
                            Auditors
                                                                              12%                             23%
               Commercial bankers
                                                                                   8%                         22%
                Investment bankers
                                                                              12%                         20%
          Management consultants
              g
                                                                            15%                           19%
                   Insurance agents
                                                                           16%                          16%
                      Stock brokers
                                                                            15%                         14%
                  Mortgage brokers
                                                                     27%                            12%
              Hedge fund managers
              Hedge fund managers
                                                                     27%                           9%




                                                                        132
133
Top 5 Attributes of CPAs
• Has integrity
• Competent
• Objective
• Able to synthesize
  information
• Focused on client
  needs




                                      134
Bottom Five Attributes of CPAs

•   Creative & innovative
•   Demonstrates leadership
•   Able to see the big picture
•   Communicates effectively
•   Technologically d t
    T h l i ll adept




                                        135
Investor Satisfaction with CPAs Is High
Investor Satisfaction with CPAs Is High
                      Satisfaction with CPA(s)

                     0%        25%    50%         75%    100%



    Very satisfied                          55%



                                                                94%
      Somewhat
                                     39%
       satisfied




         Not very
                          3%
         satisfied




        Not at all
                      1%
        satisfied

                                             Investors
                                     136
Perceptions of CPAs Largely
                                      Consistent Across All Audiences
Rank        BDMs Large Biz                 BDMs Sm-Med Biz                      Investors                         CPAs                             YPs

 1             Has integrity                    Competent                       Competent                      Has integrity                    Competent



 2              Competent                      Has integrity                   Has integrity                    Competent                      Has integrity


             Able to synthesize                                                                                                              Able to synthesize
 3       information from multiple              Objective                       Objective                       Objective                information from multiple
                  sources                                                                                                                         sources

                                             Able to synthesize              Able to synthesize              Able to synthesize
 4              Objective                information from multiple       information from multiple       information from multiple      Able to see the big picture
                                                  sources                         sources                         sources


 5       Focused on client needs         Focused on client needs         Focused on client needs         Focused on client needs                Objective


          Able to identify potential      Able to identify potential      Able to identify potential
 6                                                                                                      Able to see the big picture      Focused on client needs
       problems before they happen     problems before they happen     problems before they happen

                                                                                                                                          Able to identify potential
 7        Technologically adept
           ec o og ca y                   Technologically adept
                                           ec o og ca y                   Technologically adept
                                                                           ec o og ca y                  Demonstrates leadership
                                                                                                          e o st ates eade s p
                                                                                                                                       problems before they h
                                                                                                                                          bl     b f      th happen

                                                                                                          Able to identify potential
 8      Communicates effectively        Able to see the big picture     Able to see the big picture                                      Demonstrates leadership
                                                                                                       problems before they happen


 9      Able to see the big picture     Communicates effectively        Communicates effectively          Technologically adept           Technologically adept



10       Demonstrates leadership         Demonstrates leadership         Creative and innovative        Communicates effectively        Communicates effectively
                                                                                                                                                               137
11       Creative and innovative         Creative and innovative         Demonstrates leadership         Creative and innovative         Creative and innovative
“CPAs ARE the
DISCIPLINE in business!”
       Jim Collins




                           138
Dealing with Change


            Change is the law of
            life. Those who look
            only to the p
                y       past or
            present are certain to
            miss the future."
                 - John F. Kennedy




                                     139
Five Qualities of Extraordinary Leaders
                    1. Sight - Ability to see emerging
                         patterns and shift perspective
                         when necessary


    LC             2.

                    3.
                    3
                         Insight - Ability to learn faster
                         than the rate of change in your
                         industry
                         Create - Ability to think
                         C      t
                         strategically and critically to gain
                         insights that create new
                         opportunities
                    4.   Communicate - Ability to
                         collaborate inside and outside
                         you organization and o build
                         your o ga a o a d to bu d
                         and sustain social networks of
                         people engaged in the work
                    5.   Inspire – Ability to mobilize
                              p
                         support and engage others to
                         join you in ACTION
                                                                140
CPA Professional 2.0

1. Learning & staying
   on th cutting edge
      the tti       d
2. Managing my career
3. Doing my work
4. Interacting with
   peers
5. Becoming a leader
   in
   i my fi ld
         field



        Allen Blue – Linked In      141
CPA Competencies Needed
2008 – Deloitte Research               1998 – CPA Vision Project
• Change                           • Communication &
  Management (C)                     Leadership
• Strategic Ability (S)            • Strategic & Critical
• Critical Thinking (S)              Thinking
• Business                         • Focus on the Customer,
  Perspective (C)                    Client, and Market
• Organizational                   • Interpretation of
  Agility (C)                        Converging Information
• Dealing with                     • Technologically adept
                                               g    y     p
  Ambiguity (S)
                      C – Catalyst
                      S - Strategist




                                                                   142
Tools for CPA Leaders




                        143
Our six point plan to help you through
thi recession
this       i
•   24 hours of free CPE
•   MACPA’s new career center
•   Economic Resource Center
•   New Business Services
•   New & Improved MDBIZEXPO – June 28th & 29th
    N     I         d              J
•   Promoting & protecting your CPA license
        “Hood (and his team) has tapped his expertise to roll out one 
        of the most extensive sets of resources in the country for 
        helping CPA firms handle the recession.”
            p g
                            – Bill Carlino, editor Accounting Today Magazine

                                                                               144
Business Solutions
•   Professional Liability & Health Insurance
•   Genesys audio & web conferencing services
•   Office Depot coop purchasing
•   MACPA Referral Services
•   MACPA Career Center by Boxwood
•   MACPA Securesend by Leapfile
•   Internet Security Services
•   Mindjet
    Mi dj t CPA Edition
                 Editi
•   On-line CPE
•   Webcasts
                                                145
CPA
templates
   to help
y
you with...
      http://img.mindjet.com/cpas/mj.html

       Use code MACPA to get 10% off when you order   146
MACPA is the source for Professional 
                     l
                 Development
•   2009 Practitioners Conference – 10/27/09
•   Advanced Tax Institute – 11/2 – 11/5/09
•   Advanced PFP Conference – 10/30/09
•   Technology Conference – 12/07/09 (Sheraton 
    Technology Conference – 12/07/09 (Sheraton
    Columbia)
• MACPA Fast Track 1040 
     – Columbia MD 11/04/09 & 11/05/09
       Columbia, MD    11/04/09 & 11/05/09
     – Hunt Valley, MD 12/01/09 & 12/02/09
• Don Farmer’s Annual Update
     – Corporate Tax – Martin’s West 11/06/09
     – Individual Tax – Martin’s West 11/19/09
     – Annual Update ‐ Martin’s West 12/04/09


                                                  147
Resources to keep you on top
• MACPA Listservs
  MACPA Listservs
• Podcasts
   – iTunes (CPA Spotlight)
     iTunes (CPA Spotlight)
   – http://www.macpa.org/Content/23333.aspx
• Blogs
   – www.cpasuccess.com
   – www.cpalegislativeinsider.com
   – www bizlearningblog com
     www.bizlearningblog.com
• Linked In
   – www.linkedin.com/groups?gid=153466#h223‐958
• Facebook
   – http://www.facebook.com/home.php#/macpa?ref
     =ts
• Slideshare
   – http://www.slideshare.net/thoodcpa            148
Leadership skills to keep you ahead of 
                  h
                the curve
• Listening for Leaders – Towson 
   10/12/09
• Frequent Frauds in Govt & NFP –
   Timonium 10/15/09
• Ethics, Leadership & the CPA –
   Waldorf – 10/16/09
• Pricing for Profitability (Industry)
  Pricing for Profitability (Industry) 
  – Columbia 10/27/09




  Search our on-line catalog – keyword “BLI”
                           g     y


                   http://www.bizlearning.net/learningcenter/   149
Five Qualities of Extraordinary Leaders
                 1. Sight ‐ Ability to see emerging 
                     patterns and shift perspective when 
                     necessary


   LC           2. Insight ‐ Ability to learn faster than 
                     the rate of change in your industry
                 3. Create ‐ Ability to think strategically 
                 3 Create Ability to think strategically
                     and critically to gain insights that create 
                     new opportunities
                 4. Communicate ‐ Ability to 
                 4 Communicate Abilit t
                     collaborate inside and outside your 
                     organization and to build and sustain 
                                        p p       g g
                     social networks of people engaged in 
                     the work
                 5. Inspire – Ability to mobilize support 
                     and engage others to join you in 
                     and engage others to join you in
                     ACTION
                                                           150
151
Tom Hood, CPA.CITP
               CEO
  Maryland Association of CPAs
   Business Learning Institute
         (443) 632‐2301
     E mail tom@macpa org
     E‐mail tom@macpa.org
  Web http://www.macpa.org
Blog http://www.cpasuccess.com



                                 152
MACPA resources
• CPA Success, our daily blog
  www.CPASuccess.com
• CPA Spotlight, our weekly podcast
  www.macpa.org/podcast
• Other MACPA blogs:

   • www CPALegislativeInsider com
     www.CPALegislativeInsider.com
   • www.NewCPAs.com
   • www.TCPAblog.com
• CPA Learning 2, a Web 2.0 playground by CPAs for CPAs
  www.CPALearning2.com
                                153
Tools
• I2A – Insights to Action – a strategic thinking system
    –   http://www.bizlearning.net/learningcenter/customizedtraining/event_detail_inHouse.cfm?eventid=09IASTS

• CPA Vision project
  CPA Vision project
    – http://www.cpavision.org

• Social media – How are CPAs using social media
  Social media  How are CPAs using social media
    – http://www.cpasuccess.com/2009/09/how‐are‐cpas‐using‐social‐media.html
    – Social Media Quick Start Program
    –   http://www.bizlearning.net/learningcenter/customizedtraining/event_detail_inHouse.cfm?eventid=09SOCMED


• XBRL 
    – http://www.xbrl.org
    – Blog posts from CPA Success
    –   http://www.cpasuccess.com/2009/06/xbrl‐and‐government‐a‐marriage‐made‐in‐nevada.html
    – http://www.cpasuccess.com/xbrl/

• Mindmanager CPA edition
  Mindmanager CPA edition
    – http://www.mindjet.com/cpas/mj.aspx

                                                           154
Resources
MACPA social networks:
MACPA social networks:
   • Twitter: Twitter.com/MACPA
   • Facebook: 
   http://www.facebook.com/home.php#/macpa?ref=ts
   • LinkedIn: tinyurl.com/6k8xra
   • Flickr: tinyurl com/6meyuu
     Flickr: tinyurl.com/6meyuu
   • YouTube: tinyurl.com/66c249
 Second Life resources:
   • CPAs on Second Life: www SLACPA com
     CPAs on Second Life: www.SLACPA.com
   • CPA Island: www.CPAIsland.com                  155
Tom Hood, CPA.CITP
                CEO & Executive Director
                      &
               Maryland Association of CPAs
                 http://www.MACPA.org
                    p //                g
                     tom@macpa.org

• F ll
  Follow me on:
 Twitter: http://www.Twitter.com/tomhood
 LinkedIn: http://www.linkedin.com/in/tomhood
 Facebook: http://www.facebook.com/thoodcpa
 Plaxo: http://tomhood.myplaxo.com
 Slideshare: http://www slideshare net/thoodcpa
  Slideshare: http://www.slideshare.net/thoodcpa
 Youtube: http://www.youtube.com/thoodcpa
 Second Life avatar name: Rocky Maddaloni


                             156

Mais conteúdo relacionado

Mais procurados

The Firm of the Future - 2016 AAM InNEWvation Summit
The Firm of the Future - 2016 AAM InNEWvation Summit The Firm of the Future - 2016 AAM InNEWvation Summit
The Firm of the Future - 2016 AAM InNEWvation Summit Tom Hood, CPA,CITP,CGMA
 
Competencies for Accounting and Finance Professionals - 2016 Edition
Competencies for Accounting and Finance Professionals - 2016 EditionCompetencies for Accounting and Finance Professionals - 2016 Edition
Competencies for Accounting and Finance Professionals - 2016 EditionTom Hood, CPA,CITP,CGMA
 
Firm learning strategy - a competitive advantage
Firm learning strategy - a competitive advantageFirm learning strategy - a competitive advantage
Firm learning strategy - a competitive advantageTom Hood, CPA,CITP,CGMA
 
CFO’s Sharing: Is this possible to turn technology Capex to Opex for Growth ...
CFO’s Sharing:  Is this possible to turn technology Capex to Opex for Growth ...CFO’s Sharing:  Is this possible to turn technology Capex to Opex for Growth ...
CFO’s Sharing: Is this possible to turn technology Capex to Opex for Growth ...Wendy Wan
 
the BOUNCE - Maximizing Your Career Trajectory - AICPA EDGE Conference
the BOUNCE - Maximizing Your Career Trajectory - AICPA EDGE Conferencethe BOUNCE - Maximizing Your Career Trajectory - AICPA EDGE Conference
the BOUNCE - Maximizing Your Career Trajectory - AICPA EDGE ConferenceTom Hood, CPA,CITP,CGMA
 
It May be Time to Reinvent Your Firm - CPAFMA National Practice Management Co...
It May be Time to Reinvent Your Firm - CPAFMA National Practice Management Co...It May be Time to Reinvent Your Firm - CPAFMA National Practice Management Co...
It May be Time to Reinvent Your Firm - CPAFMA National Practice Management Co...Tom Hood, CPA,CITP,CGMA
 

Mais procurados (8)

The Firm of the Future - 2016 AAM InNEWvation Summit
The Firm of the Future - 2016 AAM InNEWvation Summit The Firm of the Future - 2016 AAM InNEWvation Summit
The Firm of the Future - 2016 AAM InNEWvation Summit
 
Competencies for Accounting and Finance Professionals - 2016 Edition
Competencies for Accounting and Finance Professionals - 2016 EditionCompetencies for Accounting and Finance Professionals - 2016 Edition
Competencies for Accounting and Finance Professionals - 2016 Edition
 
Firm learning strategy - a competitive advantage
Firm learning strategy - a competitive advantageFirm learning strategy - a competitive advantage
Firm learning strategy - a competitive advantage
 
CPAs in Second Life
CPAs in Second LifeCPAs in Second Life
CPAs in Second Life
 
CFO’s Sharing: Is this possible to turn technology Capex to Opex for Growth ...
CFO’s Sharing:  Is this possible to turn technology Capex to Opex for Growth ...CFO’s Sharing:  Is this possible to turn technology Capex to Opex for Growth ...
CFO’s Sharing: Is this possible to turn technology Capex to Opex for Growth ...
 
the BOUNCE - Maximizing Your Career Trajectory - AICPA EDGE Conference
the BOUNCE - Maximizing Your Career Trajectory - AICPA EDGE Conferencethe BOUNCE - Maximizing Your Career Trajectory - AICPA EDGE Conference
the BOUNCE - Maximizing Your Career Trajectory - AICPA EDGE Conference
 
The Future Ready CPA Firm
The Future Ready CPA FirmThe Future Ready CPA Firm
The Future Ready CPA Firm
 
It May be Time to Reinvent Your Firm - CPAFMA National Practice Management Co...
It May be Time to Reinvent Your Firm - CPAFMA National Practice Management Co...It May be Time to Reinvent Your Firm - CPAFMA National Practice Management Co...
It May be Time to Reinvent Your Firm - CPAFMA National Practice Management Co...
 

Semelhante a PIU-Keeping Up With Accounting Fall, 2009

Keeping up with Accounting - Business & Industry edition
Keeping up with Accounting - Business & Industry editionKeeping up with Accounting - Business & Industry edition
Keeping up with Accounting - Business & Industry editionTom Hood, CPA,CITP,CGMA
 
Piu Keeping Up With Accounting Fall, 2009 Draft
Piu   Keeping Up With Accounting   Fall, 2009   DraftPiu   Keeping Up With Accounting   Fall, 2009   Draft
Piu Keeping Up With Accounting Fall, 2009 DraftTom Hood, CPA,CITP,CGMA
 
Piu keeping up with accounting - spring 2010
Piu   keeping up with accounting - spring 2010Piu   keeping up with accounting - spring 2010
Piu keeping up with accounting - spring 2010Tom Hood, CPA,CITP,CGMA
 
MACPA 2010 Legislative Regulatory Update
MACPA 2010 Legislative Regulatory UpdateMACPA 2010 Legislative Regulatory Update
MACPA 2010 Legislative Regulatory UpdateTom Hood, CPA,CITP,CGMA
 
2010 Business & Industry Conference - National & State Issues
2010 Business & Industry Conference - National & State Issues2010 Business & Industry Conference - National & State Issues
2010 Business & Industry Conference - National & State IssuesTom Hood, CPA,CITP,CGMA
 
MACPA Professional Issues Update - Fall 2010 Edition
MACPA Professional Issues Update - Fall 2010 EditionMACPA Professional Issues Update - Fall 2010 Edition
MACPA Professional Issues Update - Fall 2010 EditionTom Hood, CPA,CITP,CGMA
 
Accounting Career & Professional Issues Update for Students - 2014
Accounting Career & Professional Issues Update for Students - 2014Accounting Career & Professional Issues Update for Students - 2014
Accounting Career & Professional Issues Update for Students - 2014Tom Hood, CPA,CITP,CGMA
 
Professional Issues Update - Leadership in the New Normal
Professional Issues Update - Leadership in the New NormalProfessional Issues Update - Leadership in the New Normal
Professional Issues Update - Leadership in the New NormalTom Hood, CPA,CITP,CGMA
 
Accounting in a VUCA World - The Anticipatory CPA
Accounting in a VUCA World - The Anticipatory CPAAccounting in a VUCA World - The Anticipatory CPA
Accounting in a VUCA World - The Anticipatory CPATom Hood, CPA,CITP,CGMA
 
Hitting The Notes, But Whats The Tune?
Hitting The Notes, But Whats The Tune?Hitting The Notes, But Whats The Tune?
Hitting The Notes, But Whats The Tune?james3b
 
Moss Adams Whitepaper: CPAs & Wealth Management (2011)
Moss Adams Whitepaper: CPAs & Wealth Management (2011)Moss Adams Whitepaper: CPAs & Wealth Management (2011)
Moss Adams Whitepaper: CPAs & Wealth Management (2011)Jordan Andreola
 
Company Going Public Essay
Company Going Public EssayCompany Going Public Essay
Company Going Public EssayBeth Hall
 
PIU Summer 2012 - Marriott Global Finance
PIU Summer 2012 - Marriott Global FinancePIU Summer 2012 - Marriott Global Finance
PIU Summer 2012 - Marriott Global FinanceTom Hood, CPA,CITP,CGMA
 
Piu Keeping Up With Accounting Spring 2010 Salisbury
Piu   Keeping Up With Accounting   Spring 2010   SalisburyPiu   Keeping Up With Accounting   Spring 2010   Salisbury
Piu Keeping Up With Accounting Spring 2010 SalisburyTom Hood, CPA,CITP,CGMA
 
WBCSD_Reporting_matters_2016_interactive
WBCSD_Reporting_matters_2016_interactiveWBCSD_Reporting_matters_2016_interactive
WBCSD_Reporting_matters_2016_interactiveJ. Sophie Byun
 
Future of CPAs, CFOs & Accounting - Marriott Finance/Accounting
Future of CPAs, CFOs & Accounting - Marriott Finance/AccountingFuture of CPAs, CFOs & Accounting - Marriott Finance/Accounting
Future of CPAs, CFOs & Accounting - Marriott Finance/AccountingTom Hood, CPA,CITP,CGMA
 

Semelhante a PIU-Keeping Up With Accounting Fall, 2009 (20)

Keeping up with Accounting - Business & Industry edition
Keeping up with Accounting - Business & Industry editionKeeping up with Accounting - Business & Industry edition
Keeping up with Accounting - Business & Industry edition
 
Leadership in the New Normal
Leadership in the New NormalLeadership in the New Normal
Leadership in the New Normal
 
Piu Keeping Up With Accounting Fall, 2009 Draft
Piu   Keeping Up With Accounting   Fall, 2009   DraftPiu   Keeping Up With Accounting   Fall, 2009   Draft
Piu Keeping Up With Accounting Fall, 2009 Draft
 
Piu keeping up with accounting - spring 2010
Piu   keeping up with accounting - spring 2010Piu   keeping up with accounting - spring 2010
Piu keeping up with accounting - spring 2010
 
MACPA 2010 Legislative Regulatory Update
MACPA 2010 Legislative Regulatory UpdateMACPA 2010 Legislative Regulatory Update
MACPA 2010 Legislative Regulatory Update
 
2010 Business & Industry Conference - National & State Issues
2010 Business & Industry Conference - National & State Issues2010 Business & Industry Conference - National & State Issues
2010 Business & Industry Conference - National & State Issues
 
PIU Managing Partners Update Fall, 2009
PIU   Managing Partners Update   Fall, 2009PIU   Managing Partners Update   Fall, 2009
PIU Managing Partners Update Fall, 2009
 
MACPA Professional Issues Update - Fall 2010 Edition
MACPA Professional Issues Update - Fall 2010 EditionMACPA Professional Issues Update - Fall 2010 Edition
MACPA Professional Issues Update - Fall 2010 Edition
 
Accounting Career & Professional Issues Update for Students - 2014
Accounting Career & Professional Issues Update for Students - 2014Accounting Career & Professional Issues Update for Students - 2014
Accounting Career & Professional Issues Update for Students - 2014
 
Professional Issues Update - Leadership in the New Normal
Professional Issues Update - Leadership in the New NormalProfessional Issues Update - Leadership in the New Normal
Professional Issues Update - Leadership in the New Normal
 
Accounting in a VUCA World - The Anticipatory CPA
Accounting in a VUCA World - The Anticipatory CPAAccounting in a VUCA World - The Anticipatory CPA
Accounting in a VUCA World - The Anticipatory CPA
 
Hitting The Notes, But Whats The Tune?
Hitting The Notes, But Whats The Tune?Hitting The Notes, But Whats The Tune?
Hitting The Notes, But Whats The Tune?
 
Moss Adams Whitepaper: CPAs & Wealth Management (2011)
Moss Adams Whitepaper: CPAs & Wealth Management (2011)Moss Adams Whitepaper: CPAs & Wealth Management (2011)
Moss Adams Whitepaper: CPAs & Wealth Management (2011)
 
Yorkshire Branch Meeting 28 June 2017
Yorkshire Branch Meeting 28 June 2017Yorkshire Branch Meeting 28 June 2017
Yorkshire Branch Meeting 28 June 2017
 
Company Going Public Essay
Company Going Public EssayCompany Going Public Essay
Company Going Public Essay
 
PIU Summer 2012 - Marriott Global Finance
PIU Summer 2012 - Marriott Global FinancePIU Summer 2012 - Marriott Global Finance
PIU Summer 2012 - Marriott Global Finance
 
Piu Keeping Up With Accounting Spring 2010 Salisbury
Piu   Keeping Up With Accounting   Spring 2010   SalisburyPiu   Keeping Up With Accounting   Spring 2010   Salisbury
Piu Keeping Up With Accounting Spring 2010 Salisbury
 
2008 Piu U Of Maryland
2008 Piu   U Of Maryland2008 Piu   U Of Maryland
2008 Piu U Of Maryland
 
WBCSD_Reporting_matters_2016_interactive
WBCSD_Reporting_matters_2016_interactiveWBCSD_Reporting_matters_2016_interactive
WBCSD_Reporting_matters_2016_interactive
 
Future of CPAs, CFOs & Accounting - Marriott Finance/Accounting
Future of CPAs, CFOs & Accounting - Marriott Finance/AccountingFuture of CPAs, CFOs & Accounting - Marriott Finance/Accounting
Future of CPAs, CFOs & Accounting - Marriott Finance/Accounting
 

Mais de Tom Hood, CPA,CITP,CGMA

Creating the Magnetic Firm - Allinial HR Conference 2016
Creating the Magnetic Firm - Allinial HR Conference 2016Creating the Magnetic Firm - Allinial HR Conference 2016
Creating the Magnetic Firm - Allinial HR Conference 2016Tom Hood, CPA,CITP,CGMA
 
Future of Learning - innovative new learning formats for accounting and finan...
Future of Learning - innovative new learning formats for accounting and finan...Future of Learning - innovative new learning formats for accounting and finan...
Future of Learning - innovative new learning formats for accounting and finan...Tom Hood, CPA,CITP,CGMA
 
Impact of Firm Wide Adoption - The Anticipatory Organization Accounting and F...
Impact of Firm Wide Adoption - The Anticipatory Organization Accounting and F...Impact of Firm Wide Adoption - The Anticipatory Organization Accounting and F...
Impact of Firm Wide Adoption - The Anticipatory Organization Accounting and F...Tom Hood, CPA,CITP,CGMA
 
Next Gen Leaders Report from the AICPA EDGE Conference 2016
Next Gen Leaders Report from the AICPA EDGE Conference 2016Next Gen Leaders Report from the AICPA EDGE Conference 2016
Next Gen Leaders Report from the AICPA EDGE Conference 2016Tom Hood, CPA,CITP,CGMA
 
Anticipatory Organization: Accounting and Finance Edition (AOAF)
Anticipatory Organization: Accounting and Finance Edition (AOAF)Anticipatory Organization: Accounting and Finance Edition (AOAF)
Anticipatory Organization: Accounting and Finance Edition (AOAF)Tom Hood, CPA,CITP,CGMA
 
Will your firm thrive or just survive? Anticipation - The critical competency...
Will your firm thrive or just survive? Anticipation - The critical competency...Will your firm thrive or just survive? Anticipation - The critical competency...
Will your firm thrive or just survive? Anticipation - The critical competency...Tom Hood, CPA,CITP,CGMA
 
COCPA - The Anticipatory Individual and Organization
COCPA - The Anticipatory Individual and OrganizationCOCPA - The Anticipatory Individual and Organization
COCPA - The Anticipatory Individual and OrganizationTom Hood, CPA,CITP,CGMA
 
Leadership in a VUCA World - AICPA PSTECH 2016
Leadership in a VUCA World - AICPA PSTECH 2016Leadership in a VUCA World - AICPA PSTECH 2016
Leadership in a VUCA World - AICPA PSTECH 2016Tom Hood, CPA,CITP,CGMA
 
Innovation is Not Just for Technology Companies Anymore
Innovation is Not Just for Technology Companies AnymoreInnovation is Not Just for Technology Companies Anymore
Innovation is Not Just for Technology Companies AnymoreTom Hood, CPA,CITP,CGMA
 
The Future Ready CPA - Moving from Compliance to Reliance
The Future Ready CPA - Moving from Compliance to RelianceThe Future Ready CPA - Moving from Compliance to Reliance
The Future Ready CPA - Moving from Compliance to RelianceTom Hood, CPA,CITP,CGMA
 
Top Challenges & Top Skills for Accounting & CPAs #CCHUC15
Top Challenges & Top Skills for Accounting & CPAs #CCHUC15Top Challenges & Top Skills for Accounting & CPAs #CCHUC15
Top Challenges & Top Skills for Accounting & CPAs #CCHUC15Tom Hood, CPA,CITP,CGMA
 
How to get ready for the fast future - #CCHUC15
How to get ready for the fast future - #CCHUC15How to get ready for the fast future - #CCHUC15
How to get ready for the fast future - #CCHUC15Tom Hood, CPA,CITP,CGMA
 
Trends in the CPA profession - the Shift Change #CCHUC15
Trends in the CPA profession - the Shift Change #CCHUC15Trends in the CPA profession - the Shift Change #CCHUC15
Trends in the CPA profession - the Shift Change #CCHUC15Tom Hood, CPA,CITP,CGMA
 
The High Performance Firm - The Power of Purpose
The High Performance Firm - The Power of PurposeThe High Performance Firm - The Power of Purpose
The High Performance Firm - The Power of PurposeTom Hood, CPA,CITP,CGMA
 
Leadership & Collaboration - Thriving in a VUCA World
Leadership & Collaboration - Thriving in a VUCA WorldLeadership & Collaboration - Thriving in a VUCA World
Leadership & Collaboration - Thriving in a VUCA WorldTom Hood, CPA,CITP,CGMA
 
State of Accounting: A Clarion Call for CPAs and Accountants to Get out of th...
State of Accounting: A Clarion Call for CPAs and Accountants to Get out of th...State of Accounting: A Clarion Call for CPAs and Accountants to Get out of th...
State of Accounting: A Clarion Call for CPAs and Accountants to Get out of th...Tom Hood, CPA,CITP,CGMA
 

Mais de Tom Hood, CPA,CITP,CGMA (19)

Creating the Magnetic Firm - Allinial HR Conference 2016
Creating the Magnetic Firm - Allinial HR Conference 2016Creating the Magnetic Firm - Allinial HR Conference 2016
Creating the Magnetic Firm - Allinial HR Conference 2016
 
Future of Learning - innovative new learning formats for accounting and finan...
Future of Learning - innovative new learning formats for accounting and finan...Future of Learning - innovative new learning formats for accounting and finan...
Future of Learning - innovative new learning formats for accounting and finan...
 
Impact of Firm Wide Adoption - The Anticipatory Organization Accounting and F...
Impact of Firm Wide Adoption - The Anticipatory Organization Accounting and F...Impact of Firm Wide Adoption - The Anticipatory Organization Accounting and F...
Impact of Firm Wide Adoption - The Anticipatory Organization Accounting and F...
 
Next Gen Leaders Report from the AICPA EDGE Conference 2016
Next Gen Leaders Report from the AICPA EDGE Conference 2016Next Gen Leaders Report from the AICPA EDGE Conference 2016
Next Gen Leaders Report from the AICPA EDGE Conference 2016
 
Anticipatory Organization: Accounting and Finance Edition (AOAF)
Anticipatory Organization: Accounting and Finance Edition (AOAF)Anticipatory Organization: Accounting and Finance Edition (AOAF)
Anticipatory Organization: Accounting and Finance Edition (AOAF)
 
Will your firm thrive or just survive? Anticipation - The critical competency...
Will your firm thrive or just survive? Anticipation - The critical competency...Will your firm thrive or just survive? Anticipation - The critical competency...
Will your firm thrive or just survive? Anticipation - The critical competency...
 
Future Ready CPA firm - keynote CPA FMA
Future Ready CPA firm - keynote CPA FMAFuture Ready CPA firm - keynote CPA FMA
Future Ready CPA firm - keynote CPA FMA
 
COCPA - The Anticipatory Individual and Organization
COCPA - The Anticipatory Individual and OrganizationCOCPA - The Anticipatory Individual and Organization
COCPA - The Anticipatory Individual and Organization
 
Leadership in a VUCA World - AICPA PSTECH 2016
Leadership in a VUCA World - AICPA PSTECH 2016Leadership in a VUCA World - AICPA PSTECH 2016
Leadership in a VUCA World - AICPA PSTECH 2016
 
CPA Vision 2011
CPA Vision 2011CPA Vision 2011
CPA Vision 2011
 
Innovation is Not Just for Technology Companies Anymore
Innovation is Not Just for Technology Companies AnymoreInnovation is Not Just for Technology Companies Anymore
Innovation is Not Just for Technology Companies Anymore
 
The Future Ready CPA - Moving from Compliance to Reliance
The Future Ready CPA - Moving from Compliance to RelianceThe Future Ready CPA - Moving from Compliance to Reliance
The Future Ready CPA - Moving from Compliance to Reliance
 
Top Challenges & Top Skills for Accounting & CPAs #CCHUC15
Top Challenges & Top Skills for Accounting & CPAs #CCHUC15Top Challenges & Top Skills for Accounting & CPAs #CCHUC15
Top Challenges & Top Skills for Accounting & CPAs #CCHUC15
 
How to get ready for the fast future - #CCHUC15
How to get ready for the fast future - #CCHUC15How to get ready for the fast future - #CCHUC15
How to get ready for the fast future - #CCHUC15
 
Trends in the CPA profession - the Shift Change #CCHUC15
Trends in the CPA profession - the Shift Change #CCHUC15Trends in the CPA profession - the Shift Change #CCHUC15
Trends in the CPA profession - the Shift Change #CCHUC15
 
Sage V2W Vision to Strategy Workshop
Sage V2W  Vision to Strategy WorkshopSage V2W  Vision to Strategy Workshop
Sage V2W Vision to Strategy Workshop
 
The High Performance Firm - The Power of Purpose
The High Performance Firm - The Power of PurposeThe High Performance Firm - The Power of Purpose
The High Performance Firm - The Power of Purpose
 
Leadership & Collaboration - Thriving in a VUCA World
Leadership & Collaboration - Thriving in a VUCA WorldLeadership & Collaboration - Thriving in a VUCA World
Leadership & Collaboration - Thriving in a VUCA World
 
State of Accounting: A Clarion Call for CPAs and Accountants to Get out of th...
State of Accounting: A Clarion Call for CPAs and Accountants to Get out of th...State of Accounting: A Clarion Call for CPAs and Accountants to Get out of th...
State of Accounting: A Clarion Call for CPAs and Accountants to Get out of th...
 

Último

Live-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry WebinarLive-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry WebinarNathanielSchmuck
 
Cracking the ‘Business Process Outsourcing’ Code Main.pptx
Cracking the ‘Business Process Outsourcing’ Code Main.pptxCracking the ‘Business Process Outsourcing’ Code Main.pptx
Cracking the ‘Business Process Outsourcing’ Code Main.pptxWorkforce Group
 
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISINGUNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISINGlokeshwarmaha
 
Chicago Medical Malpractice Lawyer Chicago Medical Malpractice Lawyer.pdf
Chicago Medical Malpractice Lawyer Chicago Medical Malpractice Lawyer.pdfChicago Medical Malpractice Lawyer Chicago Medical Malpractice Lawyer.pdf
Chicago Medical Malpractice Lawyer Chicago Medical Malpractice Lawyer.pdfSourav Sikder
 
Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access
 
Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access
 
Project Brief & Information Architecture Report
Project Brief & Information Architecture ReportProject Brief & Information Architecture Report
Project Brief & Information Architecture Reportamberjiles31
 
NASA CoCEI Scaling Strategy - November 2023
NASA CoCEI Scaling Strategy - November 2023NASA CoCEI Scaling Strategy - November 2023
NASA CoCEI Scaling Strategy - November 2023Steve Rader
 
Entrepreneurship & organisations: influences and organizations
Entrepreneurship & organisations: influences and organizationsEntrepreneurship & organisations: influences and organizations
Entrepreneurship & organisations: influences and organizationsP&CO
 
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003believeminhh
 
To Create Your Own Wig Online To Create Your Own Wig Online
To Create Your Own Wig Online  To Create Your Own Wig OnlineTo Create Your Own Wig Online  To Create Your Own Wig Online
To Create Your Own Wig Online To Create Your Own Wig Onlinelng ths
 
Developing Coaching Skills: Mine, Yours, Ours
Developing Coaching Skills: Mine, Yours, OursDeveloping Coaching Skills: Mine, Yours, Ours
Developing Coaching Skills: Mine, Yours, OursKaiNexus
 
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...IMARC Group
 
Anyhr.io | Presentation HR&Recruiting agency
Anyhr.io | Presentation HR&Recruiting agencyAnyhr.io | Presentation HR&Recruiting agency
Anyhr.io | Presentation HR&Recruiting agencyHanna Klim
 
Fabric RFID Wristbands in Ireland for Events and Festivals
Fabric RFID Wristbands in Ireland for Events and FestivalsFabric RFID Wristbands in Ireland for Events and Festivals
Fabric RFID Wristbands in Ireland for Events and FestivalsWristbands Ireland
 
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...AustraliaChapterIIBA
 
Entrepreneurship and individuals workshop
Entrepreneurship and individuals workshopEntrepreneurship and individuals workshop
Entrepreneurship and individuals workshopP&CO
 
BCE24 | Virtual Brand Ambassadors: Making Brands Personal - John Meulemans
BCE24 | Virtual Brand Ambassadors: Making Brands Personal - John MeulemansBCE24 | Virtual Brand Ambassadors: Making Brands Personal - John Meulemans
BCE24 | Virtual Brand Ambassadors: Making Brands Personal - John MeulemansBBPMedia1
 

Último (20)

Live-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry WebinarLive-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry Webinar
 
Cracking the ‘Business Process Outsourcing’ Code Main.pptx
Cracking the ‘Business Process Outsourcing’ Code Main.pptxCracking the ‘Business Process Outsourcing’ Code Main.pptx
Cracking the ‘Business Process Outsourcing’ Code Main.pptx
 
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISINGUNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
 
Chicago Medical Malpractice Lawyer Chicago Medical Malpractice Lawyer.pdf
Chicago Medical Malpractice Lawyer Chicago Medical Malpractice Lawyer.pdfChicago Medical Malpractice Lawyer Chicago Medical Malpractice Lawyer.pdf
Chicago Medical Malpractice Lawyer Chicago Medical Malpractice Lawyer.pdf
 
Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024
 
Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024
 
Project Brief & Information Architecture Report
Project Brief & Information Architecture ReportProject Brief & Information Architecture Report
Project Brief & Information Architecture Report
 
Investment Opportunity for Thailand's Automotive & EV Industries
Investment Opportunity for Thailand's Automotive & EV IndustriesInvestment Opportunity for Thailand's Automotive & EV Industries
Investment Opportunity for Thailand's Automotive & EV Industries
 
NASA CoCEI Scaling Strategy - November 2023
NASA CoCEI Scaling Strategy - November 2023NASA CoCEI Scaling Strategy - November 2023
NASA CoCEI Scaling Strategy - November 2023
 
Entrepreneurship & organisations: influences and organizations
Entrepreneurship & organisations: influences and organizationsEntrepreneurship & organisations: influences and organizations
Entrepreneurship & organisations: influences and organizations
 
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
 
To Create Your Own Wig Online To Create Your Own Wig Online
To Create Your Own Wig Online  To Create Your Own Wig OnlineTo Create Your Own Wig Online  To Create Your Own Wig Online
To Create Your Own Wig Online To Create Your Own Wig Online
 
Developing Coaching Skills: Mine, Yours, Ours
Developing Coaching Skills: Mine, Yours, OursDeveloping Coaching Skills: Mine, Yours, Ours
Developing Coaching Skills: Mine, Yours, Ours
 
AL Satwa Dubai Call Girls +971552825767 Call Girls In AL Karama
AL Satwa Dubai Call Girls +971552825767  Call Girls In AL KaramaAL Satwa Dubai Call Girls +971552825767  Call Girls In AL Karama
AL Satwa Dubai Call Girls +971552825767 Call Girls In AL Karama
 
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
 
Anyhr.io | Presentation HR&Recruiting agency
Anyhr.io | Presentation HR&Recruiting agencyAnyhr.io | Presentation HR&Recruiting agency
Anyhr.io | Presentation HR&Recruiting agency
 
Fabric RFID Wristbands in Ireland for Events and Festivals
Fabric RFID Wristbands in Ireland for Events and FestivalsFabric RFID Wristbands in Ireland for Events and Festivals
Fabric RFID Wristbands in Ireland for Events and Festivals
 
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
 
Entrepreneurship and individuals workshop
Entrepreneurship and individuals workshopEntrepreneurship and individuals workshop
Entrepreneurship and individuals workshop
 
BCE24 | Virtual Brand Ambassadors: Making Brands Personal - John Meulemans
BCE24 | Virtual Brand Ambassadors: Making Brands Personal - John MeulemansBCE24 | Virtual Brand Ambassadors: Making Brands Personal - John Meulemans
BCE24 | Virtual Brand Ambassadors: Making Brands Personal - John Meulemans
 

PIU-Keeping Up With Accounting Fall, 2009

  • 1. Welcome to the Fall 2009 Professional Issues Update An Exclusive Benefit For MACPA Members “A pioneer in using social media and Web 2.0 technologies in A 20 accounting, Hood (and his team at MACPA) has tapped his expertise to roll out one of the most extensive sets of resources in the country for helping CPAs handle the recession.” y p g - Bill Carlino, Editor Accounting Today Magazine 1
  • 2. Keeping Up With Accounting Professional Issues Update 2009 Fall Edition Tom Hood, CPA.CITP Hood CPA CITP CEO & Executive Director Business Learning Institute Maryland Association of CPAs 2
  • 3. What is the One Thing for CPAs? 3
  • 4. Q: What is the # 1 Issue facing all CPAs? A: Keeping up with changing standards & regulations “As it relates to science and technology, the rate of change in the next decade, is likely to be 4 to7 times decade faster than in the last decade. If it is 4x faster it would be like planning for 2006 in 1890, if it is 7x faster it would be like planning for 2006 in 1670 ” 1670. -Expert on Education Panel, The Aspen Institute, 2007 4
  • 5. What is the One Thing for CPAs? CPAs… Making sense of a changing and complex world. 5
  • 6. Outcomes for today • Understand the trends and issues facing your Profession and your organization • Learn about the structure of the CPA profession and how you can see & influence major trends and issues • Gain insights that can help you jump the experience curve as a future leader • L Learn some ways t d l to deal with rapid & constant change 6
  • 7. What is above knows what is below, but what is below does not know what is above. One climbs, one sees. One descends one sees no longer but sees descends, longer, one has seen. There is an art of conducting oneself in the lower regions by the memory of what one saw higher up. When one can no longer see, one can at least still know. -Rene' Daumal “The faster you go, the further ahead you have to see.” 7
  • 8. Insights & Opportunities “But a time of turbulence is also one of great opportunity for those who can understand accept understand, and exploit the new realities. realities It is above all a time of opportunity for leadership.” p - Peter Drucker, Managing in Turbulent Times g g 8
  • 9. Action “The best way to The predict the future is to create it.” - Peter Drucker, Managing in Turbulent Times 9
  • 10. What are MACPA members saying? Insights form the Spring, 2009 PIU / town hall meetings covering 1,500+ members 10
  • 11. From the Spring PIUs What should be MACPA s #1 priority? MACPA’s Advocacy with regulators & legislators Protecting our CPA license Insuring integrity of the CPA profession Education 11
  • 12. From the Spring PIUs If I were chair of the MACPA, I would… ,  Many began their response with ‘continue’ – as in i continue to: enhance the image of CPAs, ti t h th i f CPA improve the types of education offered, recruit young people into the profession  Attract & retain top candidates to the profession  Promote integrity of the profession  Increase networking opportunities  Offer more low/no cost CPE 12
  • 13. From the Spring PIUs What phrases, images or words caught your attention? tt ti ? Generations IFRS XBRL Social Networking Transparency Change! 13
  • 14. Our Agenda Act 1  The one thing all CPAs need to k know  Economy Update  Regulations & Standards Act 2  Workforce  Technology  Issues facing CPA firms  Issues facing Business Industry Government CPAs Act 3  Image & Public Perception  Toolbox – MACPA Resources 14
  • 15. What will the new normal look like? “It is increasingly clear th t th i i i l l that the current downturn is fundamentally different from recessions of recent decades decades. We are experiencing not merely another turn of the business cycle, but a cycle restructuring of the economic order.” – Ian Davis, McKinsey Quarterly March, 2009 15
  • 16. 16
  • 17. The new normal – Wall Street? 1920 - 2008 2008 - ???? 17
  • 18. And don’t forget Health Care Reform don t 18
  • 20. Regulators cannot keep up with Commerce g p p “Even the regulators can't  keep up. A Senate study in  keep up A Senate study in 2002 found that the SEC  had managed to fully  review just 16 percent of  the nearly 15,000 annual  reports that companies  p p submitted in the previous  fiscal year; the recently  disgraced Enron hadn t  disgraced Enron hadn't been reviewed in a  decade." Source: Wired magazine  17.03 March, 2009 20
  • 22. Where do major changes come from? Us – MACPA & AICPA Them - lawmakers OR State Federal 22
  • 23. “the basic physical and organizational structures needed for the operation of a t t d d f th ti f society or enterprise” The infrastructure for the free market was found to be in disrepair in this latest market crisis and the CPA profession is a critical component 23
  • 24. Three Drivers • Fair Market Value (Acctg Standards) • Futures & Derivatives • Investment Advisors & Broker-Dealers When is the last time these guys had accounting as the major topic of their agenda? 24
  • 25. Bernie & His auditor David Friehling, CPA faces 105 years in prison For issuing false audit reports •S l P Sole Practitioner ii • Accused of issuing  audits of Madoff  Securities • Lied on AICPA  membership renewal  about peer review about peer   review 25
  • 27. Latest proposal 1. Promote robust supervision and regulation of financial firms 2. Establish comprehensive regulation of financial markets 3. Protect consumers and investors form financial abuse 4. Provide the government with the tools it needs to manage financial c s s a c a crisis 5. Raise international regulatory standards & improve p international cooperation http://www.financialstability.gov/docs/regs/FinalReport_web.pdf 27
  • 28. Should Congress Set Accounting Standards? 28
  • 29. The Real Costs of Changing FMV? “Confidence, trust, and numbers that investors can believe in are the stuff that make or break the capital markets. When investors question the validity of numbers, they sell and wait, rather than buy and invest. Yet those charged with building confidence and ith b ilding trust and presenting numbers that can be believed are under sustained attack -- and they are losing.” g - Arthur Levitt, Weakening a Market Watchdog in Washington Post – March 26 26, 20009 29
  • 30. Reps. Ed Perlmutter, D-Colo, and Frank Lucas, R-Okla, introduced HR 1349 which would create a new Federal Accounting Oversight Board to oversee the application of generally accepted accounting principles 30
  • 31. First PCAOB now FAOB? Financial Accounting Oversight Bill New 5 member oversight board proposed by Congress – March 6th, y g 2009 31
  • 32. What is under the CPA Profession? Question: When do you think about infrastructure? y Answer: when it breaks! 32
  • 33. Federal Laws & Regulations – SEC, DOL, Treasury, GAO, PCAOB CPA Profession Standards – AICPA & FASB, GASB FASAB, IASB, IFAC FASB GASB, FASAB IASB State CPA Statutes police power of the states to protect their citizens vs commerce clause 33
  • 34. Another View Public Company Private Company Int’l Company Financial SEC FASB IASB Reporting FASB PCFRC IFRS & SME Attest AICPA Performance Standards PCAOB ASB IAASB Code of AICPA AICPA Conduct PEEC PEEC IFAC CPA Licensure State Oversight & Enforcement of CPA License 34
  • 35. US Treasury MD Comptroller MD Comptroller MD Comptroller CAQ Courtesy of the Maryland Association of CPAs – 2008 edition 35 Drawing by Carol Kirwan, CPA
  • 36. Standards Changes • AS 5 - PCAOB • IFRS – SEC International gets legs (again) • Fair Value Accounting • XBRL – SEC mandatory • Codification Project – FASB • Clarity Project – ASB – Convergence with international • Reliability Project (comps & reviews) • DOL 403 (b) Plans • Internal Control – COSO • Fin 48 effective 2009 • Form 990 C Changes • Fraud & Forensic SAS 99 36
  • 37. Fraud Alert! • Madoff scandal has created a major focus on fraud • Extra attention to identifying fraud opportunities during the planning phase of an engagement • Robust SAS 99 work is required i d – Professional skepticism – Meaningful brainstorming g g sessions – No “checklist” mentality Remember this guy? Ken Lay - Enron • Expect aggressive enforcement by regulators 37
  • 38. Where do major changes come from? Us – MACPA & AICPA Them OR 38
  • 39. “No man’s life, liberty, or happiness are safe when the legislature is in session” session – Mark Twain IRS Section 7216 Circular 230/Section 6694 Proposed regulation/registration of tax return preparers SSTS exposure draft Tax strategy patents legislation Latest developments on e- filing Extended due dates for returns Proposed Consumer Financial Protection Agency legislation Cell phone developments Trust fee deductibility Estate tax developments FTC red flags 39
  • 40. How we spent our summer vacation • Testifying at Maryland Business Tax Reform Commission Hearings • Advocating changes to MD Franchise Law • Attending IRS Tax Preparers hearings • Ad Advocating f IRS FTC ti for IRS, red flags, and Consumer Financial Protection Act http://www.cpalegislativeinsider.com 40
  • 41. MACPA’s 2010 Agenda • Stop sales Tax on Accounting & Tax services • Comment on combined reporting • Stop efforts to liberalize tort laws (lawsuit abuse) • Support State Board 120/150 legislation • Stop efforts to repeal Peer Review CPA Day in Annapolis January 20, 2010 Visit http://www.cpalegislativeinsider.com 41
  • 42. Maryland & Federal Tax Preparer Law Threats to Th t t your CPA License Li • Well intentioned consumer group • Solving a problem – low income tax frauds • But…creating problems for CPAS – Licensed / Certified Tax Preparers p would be confusing to the public – Tax Preparer Exam using ACAT / H&R Bl k d i Block designation (ATA ATP) ti (ATA, opens door for second tier license – Misinformation / confusion 42
  • 43. Questions we are asking: Then why did they oppose the “experience requirement”, mobility? Why p q y y did they support tax preparers act (with negative provisions against CPAs)? 43
  • 44. What we did about it… Maryland Individual Tax Preparers Act • Requires registration and examination of all tax preparers • Registered Tax Preparers (cannot use terms licensed or certified) • CPAs and staff are exempt (along with other Circ 230 Practitioners) • Out of state CPAs exempt Out-of-state • Independent Regulatory Exam required q • Safe Harbor disclosure required – “I am not a CPA” • MACPA seat on State Board 44
  • 45. 45
  • 46. Sales Tax on Services • Should accounting services be taxed? • We’ve fought and won on this numerous times -- We ve -- but times are changing • 19 states are considering taxing services g g • Could be an issue in 2012-2013 budget – Loss of the one-time bailout funding leaves an $8 g Billion hole to fill • QUESTION: Should this continue to be a bedrock issue for MACPA? 46
  • 47. 120 – 150 H Hour P Proposal l • 120 ho rs to sit for CPA hours Exam • 150 hours required for licensure • Five – Six years to y complete • CPE required to stay currentt 47
  • 48. Improving Your Infrastructure The CPA License • The AICPA & your State CPA Society 48
  • 49. CPA Mobility Legislative Activity 2009 WA VT MT ME ND MN OR NH ID WI SD MA NY WY MI CT RI IA PA NV NE NJ UT OH IL IN DE CO WV CA VA MD KS MO KY DC NC AZ TN OK AR SC NM MS AL GA AK TX LA PR HI FL GU 2009 -2010 Anticipated V Legislative Activity Mobility Enacted - 45 No Formal Activity Legislation Introduced - 1 Mobility Enacted Only for Other Mobility States -2 (GA PA) 49 AICPA March 2009
  • 50. Recent Leg / Reg Changes you need to know! o  New Mobility Law  Maryland Individual Tax Preparer Act y p  New Corporate Reporting Requirements  Peer Review Requirement – October 1st  New CPA Exam Requirements  New CPE regulations  Mandatory e-file M d t fil  New Non-Profit Audit Requirements > $500,000  Workplace Fraud Act - MD Independent Contractor Legislation CPA Day in Annapolis January 20, 2010 50
  • 51. New CPE Regulations • New approved fields of study • CPE = CPE • Changes in rules for accounting educators • Effective May 18, 2009 51
  • 52. History of CPA Legislation KEY In the  Beginning... Max Teichman,  Rights & Recognition GOALS/ •Privilege of Self- RESULTS Frank Blacklock &  Frank Blacklock & AG opinion of 1981 William Rogers Regulation SB 560 Defeated Grants rights to non‐ Maryland Corporate  •Right to Sole Control CPAs for Reviews &  Accountability Act over an Area of Practice Comps. MACPA requests  reversal of AG Opinion  HB 1296  – “This is not an audit”  language added Mobility  • CPA Bill signed April 10, 1900 PROJECTS/ • MD is 3rd state (NY & PA) • MD is 3 state (NY & PA) MACPA wins use of  Passes STRATEGIES “consultants” in firm  letterhead at State  Maryland  Board Special  State Board of  Session Accounting  Oct – Nov 07 Accountancy  Reform task  formed Maryland  Force  KEY EVENTS becomes the 1st becomes the 1 addresses  MACPA  defeats Sales  SOX state to restrict  HB 1261 re‐writes State Board Hearing Tax on Services practice for CPAs CPA Law ‐ 1986 May 1, 2003 Amends Corporate Tax  MACPA amendments  Reporting  Bill from  to ed requirements fail special session PEOPLE MACPA Forms Task Force  and  surveys members surveys members New simpler CPA  p 88% Sub Equivalency exam Education Rules 76% Peer Review & Safe Harbor 68% Non‐CPA Ownership Terry Hancock chairs Legislative  PRODUCTS/ Larry Kamanitz  Dawson Grove  Committee Allen Deleon  SERVICES/ chairs Legislative  SITES Committee C itt chairs Legislative  g chairs Legislative  g Committee Committee Dateline 1900 1901 1922 1924 1974 1976 1981 1987 1993 1999 2001 2003 2005 2006 2007 2008 Maryland Association of CPAs 52
  • 53. IFRS – International Financial Reporting Standards "Accounting standard setters should take action to make significant p g g progress towards a single set of high g g quality global accounting standards by the end of 2009.“ – from G-20 Report The Washington Action Plan 53
  • 54. SEC Roadmap released Early adopters Large can file using Accelerated IFRS Filers Small-caps 2010 2014 2016 2011 2015 Official SEC Accelerated decision filers – point second wave 54
  • 55. Corporate Con ersion Timeline Conversion 55
  • 56. How Does IFRS Affect You? 56
  • 57. IFRS: Some Say It’s Simpler 2,500 pages 25,000 pages 57
  • 58. IFRS – GAAP Differences • Substantive vs. cosmetic – Provisions vs. contingencies – Different valuations or classifications • Temporary vs. permanent – Development costs – IFRS capitalizes GAAP expenses – No LIFO method in IFRS • R l vs. principles Rules i i l – Leases – Asset definition 58
  • 59. IASB/FASB Convergence • Hope to complete convergence by 2011 • Outstanding Issues: – Revenue recognition – Financial statement presentation – Leases – Financial instruments – Liabilities and equity distinctions – Consolidations – Derecognition g – Post-employment benefits 59
  • 60. 60
  • 61. Potential Versions of  Private Company IFRS IFRS with  differential  reporting U.S. Adapted  U S Adapted (accent) Separate U.S.  S US version of  Private Co.  Private Entities GAAP – GAAP – Revised  (Dialect) (PCFRC) Separate U.S.  IFRS SME Private  GAAP‐ GAAP‐ p y Company  Maintained  and Updated 61
  • 63. Pipeline - Good News p 20% avg increase in Graduates & enrollments! 63
  • 64. Supply and Demand Trends • Accounting enrollments continue on an upward trend, advancing 4.7% in 2007-08 … – All degree levels – Bachelor’s, Master’s and Doctoral – show increases. • Capacity constraints in accounting programs continue to be a concern, one likely to be exacerbated by current economic conditions. conditions • Shortage of PhDs causing students to be turned away 64
  • 65. New CPAs in Maryland – Filling the Pipeline 350 300 291 250 236 200 194 150 166 100 50 74 0 2004 2005 2006 2007 2008 65
  • 66. Maryland Pipeline Primary  College  CPA Exam CPA MACPA Engaged School  Student Candidate MACPA CPA CPA Retiree Student Career Paths NYPN 1,373 1,818 399 8,047 •Drive to   CPA Exam •Reach  h employment   influencers •Career  changers h 66
  • 67. Here comes the Net Generation "There is plenty of cause for alarm and/or optimism There when it comes to my generation; even I can see that. Still I think the negative views of us come from a fear of the unknown, a fear of change. Our world is evolving at a rapid rate, and that can be scary for older generations ld ti — Savannah Jones, 17, Portland, Oregon NGenophobia—the irrational and morbid fear of youth, especially with regards to their use of the Internet 67
  • 68. Four Generations in the Workplace Issue: Generational Differences • Matures 64 - 100 • Boomers 45 - 63 • Gen X 29 - 44 • Millennials 10 - 28 Which one are you? 68
  • 69. Staff Shortage + Four Generations in workplace = Trouble! 90,000,000 80,000,000 Staff 70,000,000 Shortage 60,000,000 50,000,000 40,000,000 30,000,000 20,000,000 20 000 000 10,000,000 0 Matures Boomers X'ers Millenials 69
  • 70. The Future of Work • In 2019, Gen X will finally be in charge. And they will make g y some big changes. – collaborative decision-making that might involve team members scattered around the world, from Beijing to Barcelona to Boston, whom the nominal leader of a given project may never have met in person. From Time Magazine – The Future of Work 70
  • 71. Generation Gap? Or Generation Lap? Generations One third (35%) of American adult internet users have a profile on an online social network site, f four times as many as three years ago, but still much lower than the 65% of online American teens who use social networks “In 1997, young people for the first time were recognized by adults as being authorities on something t l revolutionary – di it l t h l thi truly l ti digital technology, interactive media, and collaboration.” – Don Tapscott “Growing Up Digital” 71
  • 72. Eight Net Gen Norms 1. Freedom – The freedom to work when  and where you want 2. Customization – My job my life 3. Scrutiny – I know what you did last night 4. Integrity – Be a good company to work for 5. Collaboration – Teamwork 6. Entertainment – Work should be fun 7. Speed – Let’s make things happen now! 8. Innovation – Let me invent 72
  • 74. Information Security • Training & Competency Management • Identity & Access • Privacy Management Management • Secure Data File Storage, • Improved Application & Transmission and Integration g Exchange • Document, Forms, Content • Business Process & Knowledge Management Improvement / Work Flow • El t i D t R t ti Electronic Data Retention • Mobile & Remote Strategy p Computing g 74
  • 75. Transparency Now! – A Wired Manifesto www.xbrl.org 75 Source: Wired magazine  17.03 March, 2009
  • 76. Technology & Web 2.0 By 2010 Millenials/Gen Y-ers will outnumber 2010, Y ers Baby Boomers. 76
  • 78. The New Math Social Networking (Old) + Social Media (New) = A change in the way we build  A change in the way we build relationships Source: Matt Goddard, CEO R2integrated  78
  • 79. Old School vs. New School Chamber of Commerce Class Reunions Friends and Family E‐mail Industry Meetings I d t M ti Newsletters 79
  • 80. It s all about your Whuffie It’s all about your Whuffie Whuffie is the culmination of your reputation,  influence, bridging and bonding capital,  i fl b id i d b di i l current and potential access to ideas, talent  and resources, saved‐up favors, and  d d f d accomplishments. ‐ Tara Hunt “The Whuffie Factor” 80
  • 81. It’s about the Network Effect Metcalf’s Law "states that the economic value of a  network increases like the square of  network increases like the square of the number of its nodes, or the law of  increasing returns. Usually, when  people share a piece of equipment,  the return diminishes. When more  people are engaged in the network,  more value is returned to the user." 81
  • 82. It’s about the Network Effect How big is  your  network? “In a sentence {to recognize a network} means ‘To discover how A, who is in touch with C, Is affected by the relation between B and C.” – Russ Eckel “Becoming the Eye of the Tiger” 82
  • 84. Get found  Digital Footprints Get found – Digital Footprints 84
  • 87. Results  By the Numbers Results – By the Numbers • Youtube – Defining Americas CPA Defining Americas CPA 6,513 6 513 – CPALearning2 793 – Financial Literacy 2,459 – New CPAs swearing‐in 326 • Slid h Slideshare – Professional Issues 5,304 – Web 2.0 & Second Life Web 2.0 & Second Life 3,253 • Blogs 10,000 + per month • Podcasts ??? 87
  • 88. Results  By the Numbers Results – By the Numbers • Facebook – MACPA 177 – NYPN 58 – Tom Hood 201 • Linked In Linked‐In – MACPA 373 – Tom Hood 412 • Second Life Second Life 483 • Twitter – MACPA 884 – Bill Sheridan 1,203 – Tom Hood 1,589 88
  • 89. Benefits of Social Media Benefits of Social Media • Share & discuss information • Increase ability to connect to more people I bilit t tt l • Increase ability to manage more relationships • Customer service & support Customer service & support • Tool for recruitment & retention • Information & knowledge management • Increased findability on web (SEO) • Brand management • Accelerate your strategy Accelerate your strategy • Did I say it’s cheap? 89
  • 90. And what about CPAs? • 54% are on LinkedIn • 48% are on Facebook 48% are on Facebook • 21% are on Twitter • 61% attend webinars 61% attend webinars • 36% read blogs • 28% listen to podcasts 28% listen to podcasts 90
  • 91. Marketing Strategy 2.0 Website e‐mail Twitter T itt newsletters Social  Blog Networks 91
  • 92. Andrew Rose – Naden / Lean 92
  • 93. 93
  • 94. What is a blog? • A Web site of news and commentary that  allows readers to give feedback about what  allows readers to give feedback about what they are reading. 94
  • 95. What can a blog do for you? What can a blog do for you?  Establish your company as a thought leader Establish your company as a thought leader  Reinvent your marketing strategy  Build communities and improve customer  relations E h Enhance legislative advocacy l il i d  Expand your brand 95
  • 96. James Carroll, CPA James Carroll, CPA Website Facebook Twitter 96
  • 98. 98
  • 99. Last two stories Last two stories • Client contact via Client contact via  Facebook • Staff relations via  Facebook Leadership & Social Media  – panel of young professionals AICPA Leadership Academy Chicago, 2009 99
  • 100. Top Six Reasons Companies are Still  Scared of Social Media Scared of Social Media 1. Employees will waste time with social media p y 2. Haters will damage our brand 3. We’ll lose control of the brand 4. Social media requires a real budget! It’s not  really cheap or free 5. They’re scared they’ll be sued 5 They’re scared they’ll be sued 6. They’re scared of giving away corporate  secrets… Source: B.L. Ochman’s whatsnextblog.com 100
  • 101. Challenges • Social media requires  loosening the reins on  technology platforms and  access • Social media management  requires constant care and  feeding, as well as  feeding, as well as monitoring • Because social media is  MASS media, mistakes  di it k and missteps are  a p ed amplified  101
  • 102. Social Notworking? Social Notworking? This is defined as “The  s s de ed as e practice of spending time  unproductively on social‐ networking websites,  k b especially when one should  be working, or When you  be working ” or “When you spend all days at your job on  social networking sites such  g as facebook,myspace and  twitter.” 102
  • 103. “If you think about the media environment an average  American teenager lives in, to walk into a classroom (or  your company or firm) that doesn’t have any of that  media must be like walking into a desert.”  – Steve Maher, High School teacher PBS Special “Growing  Steve Maher, High School teacher P S Special Growing Up On‐line” • To ban or not to ban? A recent University of To ban or not to ban? A recent University of  Melbourne study showed that people who use the  internet for personal reasons at work are about 9%  more productive than those who do not. more productive than those who do not. 103
  • 104. Research says… "One day at work they took away our tools, like One day at work they took away our tools, like  Facebook, Pandora, Bebo, NPR. Work is slow  now, cold and boring." —STEVE RESSLER, 27,  TAMPA, FLORIDA In a social environment based on networked individualism, the internet s internet’s capacity to maintain and cultivate social networks has real payoffs (in the workplace).”– “The Strength of Internet Ties” Report 104
  • 105. Sooooo…. Social Notworking is a  managerial problem, not a  technology problem. If a salesman spends his day  making personal phone calls  rather than phoning potential  customers, the solution is not  to take away the phone. The  solution is to make clear what  is and is not acceptable  i di t t bl behavior and… Discussion at AICPA Leadership Academy Discussion at AICPA Leadership Academy Chicago, July, 2009 105
  • 106. Risk Management • Educate & train your staff • S t Set security & usage policies it & li i • Restrict Access during certain  times (if you have to) • Monitor – using search &  g google alerts 106
  • 108. Next steps… 1. Educate yourself – www.cpalearning2.com 2. Create your digital footprint. Create  y g p profiles on Facebook, LinkedIn and  Google.  3. Start listening. Use Google Reader or  Bloglines to begin reading thought to begin reading thought  leaders in your profession or areas of  interest.  4. Continue listening. Create your Twitter listening. Create your Twitter account and follow your profession and  areas of interest.  5. Start sharing. Create a blog and record  your thoughts.  h h 6. Share. Recognize and promote the  people you find interesting.  108
  • 109. You can…Ignore it Fight it or Fight it or Harness it’s power 109
  • 110. Five Learning Trends for 2009 1.Mobile Learning 2.DIY - Do-it-Yourself Learning 3.Flexible Learning Environments 4.Virtual Worlds 5.Games & Simulation Chief Learning Officer Magazine – January 2009 110
  • 111. To be a guild master in a game like World of Warcraft, you need to  , g p be able to create a vision, find recruits and give them a platform  on which to learn, and orchestrate the group's strategy. To me, it  sounds a lot like the skills a corporate executive needs, doesn't it?  111 – Don Tapscott “Grown Up Digital”
  • 113. Accounting Educators in Second Life Dr. Mike Kraten Suffolk University Dr. Robert Bloomfield Cornell University Dr. Steve Hornik University of Central Florida 113
  • 114. Issues Facing CPA firms 114
  • 115. Say what? y • “An increase of larger firms will result from an increase in mergers. Accounting firms will look more like law firms in terms of size.” -Marc Rosenberg • “There will be more large firms.” – Marc Rosenberg • “Mergers and acquisitions will increase.” – Jeff Pawlow, The Growth Partnership IPA Consultant Predictions – Jan, 2006 115
  • 116. PCPS/TSCPA MAP Survey 2009 Top Five Issues Facing Firms 21+ 1. Client Retention 1 Cli t R t ti 2. Marketing / Practice Growth 3. 3 Tax Law Changes & Complexity 4. Keeping up with Regulations & g g Standards 5. Retaining Qualified Staff / Work/Life Balance For larger firms add Partner Accountability & Succession Planning Mark Koziel, CPA Koziel AICPA PCPS http://pcps.aicpa.org/ 116
  • 117. Top 20 Reasons to Stay with a Firm 4 out of top 5 13 out of 20 Have nothing to do with $$$ and everything to do with culture! 117
  • 118. To put it another way – firms are under investing significantly in the things that really make a difference. i th thi th t ll k diff 118
  • 119. 7 Keys to Success in CPA Firm M Management t 1. Leadership p 2. Technology 3. Learning Organization 4. Marketing & Business Development p 5. A great Place to Work 6. Client Service & Satisfaction 7. Strategy Execution gy Source: Rick Telberg – Bay Street Group 119
  • 120. Trends to watch “Billable Hour” Under Attack In Recession, Companies Push Law Firms for Flat-Fee Contracts Flat Fee The Wall Street Journal August 24, 2009 http://www.verasage.com/ 120
  • 121. CPAs in Business, Industry, Government & NFP 121
  • 122. The Year of the CFO As financial skills are valued more highly, CFOs will make it to the corner office in greater numbers than before. Recession, credit crunch and the increasingly complex nature of global companies will all play directly into the bean counter’s hands. counter s hands Source: The Economist Magazine The World in 2009 Nov, 2008 122
  • 123. Top Concerns of CFOs: Concerns About the Macro Economy 1. Consumer demand 2. Credit markets/interest rates 3. Federal government policies 4. 4 Housing market fallout 5. Cost of nonfuel commodities 6. Cost of fuel 7. Currency risk 8. Foreign competition 9. 9 Environmental regulation 10. Trade policies & trade agreements CFO magazine – July/August 2009 123
  • 124. Top Concerns of CFOs: Concerns About Their Own Company 1. 1 Ability to forecast results 2. Working capital management 3. Maintaining morale/productivity 4. 4 Balance sheet weakness eakness 5. Attracting & retaining qualified employees 6. 6 Cost of health care 7. Managing IT systems 8. Supply chain risk 9. 9 Pension obligations 10. Protection of intellectual property CFO magazine – J l /A i July/August 2009 t 124
  • 125. A Hard Job in Hard Times • “Doing more with less has been the  mantra of the last half‐dozen years.” mantra of the last half do en ears ” – VP of Finance • “Quite simply, we are being required  to do more with less resources. to do more with less resources ” – Director of Tax 125
  • 126. IFRS Opportunity? – Meet Joe Box, CPA - CFO of Joe M J Money Machinery M hi “Well, the IASB is coming out with a simplified version for private companies With IFRS you mark companies. IFRS, mark- to-market more assets. We're a 72-year-old company that has real estate on our books at historical cost, so there could be a big benefit in g IFRS based on the substantially higher fair market value for that property. Any private-company CFO should be knowledgeable about it, to determine whether to consider adoption ” adoption. “But even more importantly, it has been my objective that our key bankers consider me knowledgeable in the issues important to their commercial portfolio. XBRL is another one.” 126
  • 127. Five Ways to Stay Ahead of the Curve 1. Keep abreast of the activities of accounting standards 1 K b t f th ti iti f ti t d d bodies. 2. Consider the positive impacts of voluntarily publishing a sustainability report. 3. Align data collection and consolidation processes. 4. Reduce the reliance on spreadsheets. 5. Become familiar with XBRL. Source: The Future of Financial Reporting: A Market Perspective An Oracle White Paper , July 2008 127
  • 128. CFO Opportunities • Business process efficiency – LEAN • Cash flow & Financing g • Risk Management • Budget Scenarios • Young Professionals – reverse mentoring • IFRS & XBRL • Sustainability Reporting • IFRS - SME 128
  • 129. Image of the CPA 129
  • 130. Image is better than pre-Enron highs The future success of the CPA profession relies a great deal upon public perception of CPAs' CPAs abilities & roles - CPA Vision Project 130
  • 131. Attitudes toward CPA Credential Attitudes toward CPA Credential 76% % 74% 66% 60% 43% Investors 31% BDMs More confident in a job  Accountants certified by non‐ CPA requires more  done by a CPA than if it  U.S. organizations, such as the  rigorous training and  Association of Chartered  were done by an  testing than any other  Certified Accountants (ACCA),  accountant not a CPA. accountant not a CPA financial credential. fi i l d i l are just as qualified as CPAs. 131
  • 132. ...And Business Decision Makers ...And Business Decision Makers % Negative perception % Positive perception 100% 80% 60% 40% 20% 0% 0% 20% 40% 60% 80% 100% physicians 3% 57% Certified Public Accountants (CPAs) 2% 48% Chief Executive Officers (CEOs) 7% 42% Chief Financial Officers (CFOs) 5% 41% Tax advisors 4% 29% Financial planners 11% 26% Attorneys 18% 25% Accountants who are not CPAs 9% 24% Auditors 12% 23% Commercial bankers 8% 22% Investment bankers 12% 20% Management consultants g 15% 19% Insurance agents 16% 16% Stock brokers 15% 14% Mortgage brokers 27% 12% Hedge fund managers Hedge fund managers 27% 9% 132
  • 133. 133
  • 134. Top 5 Attributes of CPAs • Has integrity • Competent • Objective • Able to synthesize information • Focused on client needs 134
  • 135. Bottom Five Attributes of CPAs • Creative & innovative • Demonstrates leadership • Able to see the big picture • Communicates effectively • Technologically d t T h l i ll adept 135
  • 136. Investor Satisfaction with CPAs Is High Investor Satisfaction with CPAs Is High Satisfaction with CPA(s) 0% 25% 50% 75% 100% Very satisfied 55% 94% Somewhat 39% satisfied Not very 3% satisfied Not at all 1% satisfied Investors 136
  • 137. Perceptions of CPAs Largely Consistent Across All Audiences Rank BDMs Large Biz BDMs Sm-Med Biz Investors CPAs YPs 1 Has integrity Competent Competent Has integrity Competent 2 Competent Has integrity Has integrity Competent Has integrity Able to synthesize Able to synthesize 3 information from multiple Objective Objective Objective information from multiple sources sources Able to synthesize Able to synthesize Able to synthesize 4 Objective information from multiple information from multiple information from multiple Able to see the big picture sources sources sources 5 Focused on client needs Focused on client needs Focused on client needs Focused on client needs Objective Able to identify potential Able to identify potential Able to identify potential 6 Able to see the big picture Focused on client needs problems before they happen problems before they happen problems before they happen Able to identify potential 7 Technologically adept ec o og ca y Technologically adept ec o og ca y Technologically adept ec o og ca y Demonstrates leadership e o st ates eade s p problems before they h bl b f th happen Able to identify potential 8 Communicates effectively Able to see the big picture Able to see the big picture Demonstrates leadership problems before they happen 9 Able to see the big picture Communicates effectively Communicates effectively Technologically adept Technologically adept 10 Demonstrates leadership Demonstrates leadership Creative and innovative Communicates effectively Communicates effectively 137 11 Creative and innovative Creative and innovative Demonstrates leadership Creative and innovative Creative and innovative
  • 138. “CPAs ARE the DISCIPLINE in business!” Jim Collins 138
  • 139. Dealing with Change Change is the law of life. Those who look only to the p y past or present are certain to miss the future." - John F. Kennedy 139
  • 140. Five Qualities of Extraordinary Leaders 1. Sight - Ability to see emerging patterns and shift perspective when necessary LC 2. 3. 3 Insight - Ability to learn faster than the rate of change in your industry Create - Ability to think C t strategically and critically to gain insights that create new opportunities 4. Communicate - Ability to collaborate inside and outside you organization and o build your o ga a o a d to bu d and sustain social networks of people engaged in the work 5. Inspire – Ability to mobilize p support and engage others to join you in ACTION 140
  • 141. CPA Professional 2.0 1. Learning & staying on th cutting edge the tti d 2. Managing my career 3. Doing my work 4. Interacting with peers 5. Becoming a leader in i my fi ld field Allen Blue – Linked In 141
  • 142. CPA Competencies Needed 2008 – Deloitte Research 1998 – CPA Vision Project • Change • Communication & Management (C) Leadership • Strategic Ability (S) • Strategic & Critical • Critical Thinking (S) Thinking • Business • Focus on the Customer, Perspective (C) Client, and Market • Organizational • Interpretation of Agility (C) Converging Information • Dealing with • Technologically adept g y p Ambiguity (S) C – Catalyst S - Strategist 142
  • 143. Tools for CPA Leaders 143
  • 144. Our six point plan to help you through thi recession this i • 24 hours of free CPE • MACPA’s new career center • Economic Resource Center • New Business Services • New & Improved MDBIZEXPO – June 28th & 29th N I d J • Promoting & protecting your CPA license “Hood (and his team) has tapped his expertise to roll out one  of the most extensive sets of resources in the country for  helping CPA firms handle the recession.” p g – Bill Carlino, editor Accounting Today Magazine 144
  • 145. Business Solutions • Professional Liability & Health Insurance • Genesys audio & web conferencing services • Office Depot coop purchasing • MACPA Referral Services • MACPA Career Center by Boxwood • MACPA Securesend by Leapfile • Internet Security Services • Mindjet Mi dj t CPA Edition Editi • On-line CPE • Webcasts 145
  • 146. CPA templates to help y you with... http://img.mindjet.com/cpas/mj.html Use code MACPA to get 10% off when you order 146
  • 147. MACPA is the source for Professional  l Development • 2009 Practitioners Conference – 10/27/09 • Advanced Tax Institute – 11/2 – 11/5/09 • Advanced PFP Conference – 10/30/09 • Technology Conference – 12/07/09 (Sheraton  Technology Conference – 12/07/09 (Sheraton Columbia) • MACPA Fast Track 1040  – Columbia MD 11/04/09 & 11/05/09 Columbia, MD    11/04/09 & 11/05/09 – Hunt Valley, MD 12/01/09 & 12/02/09 • Don Farmer’s Annual Update – Corporate Tax – Martin’s West 11/06/09 – Individual Tax – Martin’s West 11/19/09 – Annual Update ‐ Martin’s West 12/04/09 147
  • 148. Resources to keep you on top • MACPA Listservs MACPA Listservs • Podcasts – iTunes (CPA Spotlight) iTunes (CPA Spotlight) – http://www.macpa.org/Content/23333.aspx • Blogs – www.cpasuccess.com – www.cpalegislativeinsider.com – www bizlearningblog com www.bizlearningblog.com • Linked In – www.linkedin.com/groups?gid=153466#h223‐958 • Facebook – http://www.facebook.com/home.php#/macpa?ref =ts • Slideshare – http://www.slideshare.net/thoodcpa 148
  • 149. Leadership skills to keep you ahead of  h the curve • Listening for Leaders – Towson  10/12/09 • Frequent Frauds in Govt & NFP – Timonium 10/15/09 • Ethics, Leadership & the CPA – Waldorf – 10/16/09 • Pricing for Profitability (Industry) Pricing for Profitability (Industry)  – Columbia 10/27/09 Search our on-line catalog – keyword “BLI” g y http://www.bizlearning.net/learningcenter/ 149
  • 150. Five Qualities of Extraordinary Leaders 1. Sight ‐ Ability to see emerging  patterns and shift perspective when  necessary LC 2. Insight ‐ Ability to learn faster than  the rate of change in your industry 3. Create ‐ Ability to think strategically  3 Create Ability to think strategically and critically to gain insights that create  new opportunities 4. Communicate ‐ Ability to  4 Communicate Abilit t collaborate inside and outside your  organization and to build and sustain  p p g g social networks of people engaged in  the work 5. Inspire – Ability to mobilize support  and engage others to join you in  and engage others to join you in ACTION 150
  • 151. 151
  • 152. Tom Hood, CPA.CITP CEO Maryland Association of CPAs Business Learning Institute (443) 632‐2301 E mail tom@macpa org E‐mail tom@macpa.org Web http://www.macpa.org Blog http://www.cpasuccess.com 152
  • 153. MACPA resources • CPA Success, our daily blog www.CPASuccess.com • CPA Spotlight, our weekly podcast www.macpa.org/podcast • Other MACPA blogs: • www CPALegislativeInsider com www.CPALegislativeInsider.com • www.NewCPAs.com • www.TCPAblog.com • CPA Learning 2, a Web 2.0 playground by CPAs for CPAs www.CPALearning2.com 153
  • 154. Tools • I2A – Insights to Action – a strategic thinking system – http://www.bizlearning.net/learningcenter/customizedtraining/event_detail_inHouse.cfm?eventid=09IASTS • CPA Vision project CPA Vision project – http://www.cpavision.org • Social media – How are CPAs using social media Social media  How are CPAs using social media – http://www.cpasuccess.com/2009/09/how‐are‐cpas‐using‐social‐media.html – Social Media Quick Start Program – http://www.bizlearning.net/learningcenter/customizedtraining/event_detail_inHouse.cfm?eventid=09SOCMED • XBRL  – http://www.xbrl.org – Blog posts from CPA Success – http://www.cpasuccess.com/2009/06/xbrl‐and‐government‐a‐marriage‐made‐in‐nevada.html – http://www.cpasuccess.com/xbrl/ • Mindmanager CPA edition Mindmanager CPA edition – http://www.mindjet.com/cpas/mj.aspx 154
  • 155. Resources MACPA social networks: MACPA social networks: • Twitter: Twitter.com/MACPA • Facebook:  http://www.facebook.com/home.php#/macpa?ref=ts • LinkedIn: tinyurl.com/6k8xra • Flickr: tinyurl com/6meyuu Flickr: tinyurl.com/6meyuu • YouTube: tinyurl.com/66c249  Second Life resources: • CPAs on Second Life: www SLACPA com CPAs on Second Life: www.SLACPA.com • CPA Island: www.CPAIsland.com 155
  • 156. Tom Hood, CPA.CITP CEO & Executive Director & Maryland Association of CPAs http://www.MACPA.org p // g tom@macpa.org • F ll Follow me on:  Twitter: http://www.Twitter.com/tomhood  LinkedIn: http://www.linkedin.com/in/tomhood  Facebook: http://www.facebook.com/thoodcpa  Plaxo: http://tomhood.myplaxo.com  Slideshare: http://www slideshare net/thoodcpa Slideshare: http://www.slideshare.net/thoodcpa  Youtube: http://www.youtube.com/thoodcpa  Second Life avatar name: Rocky Maddaloni 156