macpa piu october 2014 - student edition
DESCRIPTION
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.TRANSCRIPT
Tom Hood, CPA, CITP, CGMA Rebekah Brown, CPA
Bowie State University October 15, 2014
MACPA.CNF.IO!!
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Select the session: The Shift Change for Students
Download today’s slides at … www.SlideShare.net/thoodcpa
Insights to Ac,on
“One without the other is either useless or destruc,ve” T
Tom Hood, CPA, CITP, CGMA!
Tom Hood, CPA, CITP, CGMA CEO MACPA www.macpa.org Business Learning Institute (BLI) www.blionline.org!
http://www.linkedin.com/in/tomhood!
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 !
“People don’t buy what you do, they buy why you do what you do.”
-‐ Simon Sinek
Why MACPA?
7
The Future
T
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
CPAs... Making sense of a changing and complex world.
Our core purpose, our reason for being is
Here is what they said…
The DNA of the CPA Values & Competencies
• Leadership • Communica,on • Strategic Thinking • Collabora,on & Synthesis • Technologically Savvy
Our Vision Statement for the future is: ( mandates to ourselves for a successful future)
• 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.
CPAs are the trusted professionals who enable people and organizations to shape their future.
Combining insight with integrity, CPAs deliver value by:
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
Current State!The Shift Change!
Dealing with the Shift Change – MACPA Young Professionals
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.
The CPA Career
Manager, Membership Development & Engagement Maryland Associa)on of CPAs Business Learning Ins)tute (443) 632-‐2320 E-‐mail [email protected] Web www.macpa.org www.blionline.org Blog CPA Success TwiRer @RJBrownCPA LinkedIn Rebekah Brown, CPA Slideshare slideshare.net/rjbrowncpa
Rebekah Brown, CPA
Expects a 16% growth rate in accounting & auditing jobs from 2012 to 2022
22
CPA credential in high demand!
Source: Wall Street Journal, 8/13/13
25%
38%
0
5
10
15
20
25
30
35
40
2006 2013
CFOs who are CPAs
Employers: Most desired credential
Solid salary growth
Entry-level demand also strong
Robert Half 2014 Salary Guide
The CPA Brand
The
You know you have a killer brand when…
Your customer tattoos it on their body
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
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.
A useful framework to understand the CPA profession!
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.
Single audits
Audit quality
Financial Regulatory Reform
Sarbanes-Oxley Act Dodd-Frank Wall Street Reform and Consumer
Protection Act
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
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
The CPA Exam
� Start early
� Don’t give up!
� Plan
� Suffer together
The Career Path
Lombard Street, San Francisco http://images.nationalgeographic.com/wpf/media-live/photos/000/597/cache/lombard-street-san-francisco_59769_990x742.jpg
Connect & Collaborate!
Maryland Associa)on of CPAs Business Learning Ins)tute Web hRp://www.macpa.org
Blog hRp://www.cpasuccess.com