MACPA PIU October 2014 - Student Edition

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Information about MACPA PIU October 2014 - Student Edition

Published on October 15, 2014

Author: thoodcpa



Special student presentation on a career in accounting and the job outlook for becoming a CPA.

MACPA CEO Tom Hood, voted second most influential leader in the CPA Profession in Accounting Today’s 2013 list of the Top 100 Most Influential People in Accounting (his ninth time on the list) sees five fundamental shifts facing accounting now – Leadership, Learning, Technology, Generations and Workplace. In a world of rapid change and increasing complexity, the winners will be those individuals and organizations who can keep their L>C², their rate of learning must be greater than the rate of change and greater than their competition. Tom’s updates are always popular for CPAs and include the latest trends and issues the profession is facing locally, nationally, and globally.

1. Bowie State University October 15, 2014 Tom Hood, CPA, CITP, CGMA Rebekah Brown, CPA

2. MACPA.CNF.IO! ! Select the session: The Shift Change for Students Respond to a Poll Ask a Question

3. Download today’s slides at …

4. Insights to Ac,on “One without the other is either useless or destruc,ve” T

5. Tom Hood, CPA, CITP, CGMA! Tom Hood, CPA, CITP, CGMA CEO MACPA Business Learning Institute (BLI)! Tom Hood makes every CPA kinda wish they were licensed in Maryland – Greg Kyte, CPA, Utah and Accounting Today Top 100 Influencer • Named the fourth Most Influential in Accounting by Accounting Today Magazine 2014 • Linked-In Top 150 Influencer • Top 25 Influencers in Learning & HR by HR Examiner • Top 25 Thought Leaders in Public Accounting by CPA Practice Adviser • Working on Learning Management with AICPA/ CPA2Biz, Cloud Curriculum, Performance Management !!

6. “People don’t buy what you do, they buy why you do what you do.” -­‐ Simon Sinek

7. Why MACPA? 7

8. The Future

9. T

10. In 1997, the CPA profession crowd-­‐sourced its future with over 3,500 CPAs in the CPA Vision Project That was re-­‐validated in 2011 by 8,000+ CPAs Our core purpose, our reason for being is CPAs... Making sense of a changing and complex world. Here is what they said…

11. The DNA of the CPA Values & Competencies • Leadership • Communica,on • Strategic Thinking • Collabora,on & Synthesis • Technologically Savvy

12. Our Vision Statement for the future is: ( mandates to ourselves for a successful future) CPAs are the trusted professionals who enable people and organizations to shape their future. Combining insight with integrity, CPAs deliver value by: • Communica,ng the total picture with clarity and objec,vity, • Transla,ng complex informa,on into cri,cal knowledge, • An,cipa,ng and crea,ng opportuni,es, and • Designing pathways that transform vision into reality.

13. CPAs are trusted advisors who, combining insight with integrity deliver value by: T Communica)ng the total picture with clarity and objec,vity Transla)ng complex informa,on into cri,cal knowledge An)cipa)ng and crea,ng opportuni,es Turning insights into ac)on to transform vision into reality

14. Current State! The Shift Change!

15. Dealing with the Shift Change – MACPA Young Professionals

16. The Next Gen CPA Leaders… 1. are proactive, flexible, adaptive and collaborative by nature; 2. have regained the trust of their clients and the public at large; 3. have successfully bridged the profession’s “leadership gap” by focusing on succession planning, personal growth, and generational cooperation; 4. have created the profession’s premier global industry standards and best practices; 5. have redefined the profession through work / life integration, collaboration, and a team-first approach; and 6. have earned a reputation as technological innovators.

17. The CPA Career

18. Rebekah Brown, CPA Manager, Membership Development & Engagement Maryland Associa)on of CPAs Business Learning Ins)tute (443) 632-­‐2320 E-­‐mail Web Blog CPA Success TwiRer @RJBrownCPA LinkedIn Rebekah Brown, CPA Slideshare

19. Expects a 16% growth rate in accounting & auditing jobs from 2012 to 2022

20. 22

21. CPA credential in high demand! CFOs who are CPAs Source: Wall Street Journal, 8/13/13 25% 38% 40 35 30 25 20 15 10 5 0 2006 2013 Robert Half 2014 Salary Guide Employers: Most desired credential Solid salary growth Entry-level demand also strong

22. The The CPA Brand

23. You know you have a killer brand when… Your customer tattoos it on their body

24. A profession has three major aYributes • A dis,nct and evolving body of knowledge • A commitment to the public interest – licensed by the government • A code of conduct and ethics State of Maryland CPA License

25. A useful framework to understand the CPA profession! The CPA profession is part of the bigger infrastructure that supports the US free market system. Like the pipes under urban streets, it is often invisible until it breaks.

26. Our infrastructure for regulating the US financial markets has been created from a series of reactions to crises and changes and is in need of repair. Dodd-Frank Wall Street Reform and Consumer Single audits Protection Act Financial Regulatory Reform Audit quality Sarbanes-Oxley Act

27. Information Overload “You have to understand accounting and you have to understand the nuances of accounting. It’s the language of business and it’s an imperfect language...” Warren Buffett

28. Becoming a CPA in Maryland The four E’s 1. Education – (150 hours) Bachelor’s degree + 30 credit hours 2. Examination – Pass the Uniform CPA Exam 3. Ethics – Maryland requires a separate ethics course and examination 4. Experience – 1 year of experience working with a CPA And CPE – - 80 hours of Continuing Professional Education reported every two (2) years, including four (4) hours of ethics training

29. The CPA Exam — Start early — Don’t give up! — Plan — Suffer together

30. The Career Path Lombard Street, San Francisco

31. Connect & Collaborate!

32. Maryland Associa)on of CPAs Business Learning Ins)tute Web hRp:// Blog hRp://

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