The document provides an overview of a presentation given by Tom Hood on professional issues and updates for CPE professionals. Some of the key topics discussed include the top reasons organizations fail due to missing signals of disruptive change. There is also a discussion of anticipating large business model changes during periods of rapid change. The presentation covers challenges such as increasing complexity, compliance requirements, and globalization. It emphasizes the need for continuous learning, collaboration, and developing core competencies to ensure career success in today's changing environment.
Professional Issues Update for Learning Professionals
1. Professional
Issues
Update
for CPE
Professionals
By: Tom Hood, CPA,
CITP, CGMA
2012 North East CPE
Conference
February 20, 2012
Clearwater, FL
Monday, February 20, 12 1
3. What is the #1 reason
organizations fail?
“# 1 reason organizations fail is
that they miss the weak signals
of disruptive change.”
– Andrew Zolli
3
Monday, February 20, 12 3
4. Anticipation of a very large business
model change amidst rapid change –
Steve King
There are two recessions –
the obvious one and the not
so obvious, the end of the
industrial age where
perfecting the model was the
key. The new model will be
completely different. – Seth
Godin
#4 Rethinking the Business Model (25)
from AICPA MFG
Re-Set, Re-Think, Re-Imagine - 2011
Monday, February 20, 12 4
5. In our hyper-networked,
mobile, social, global world,
the rules and plans of
yesterday are increasingly
under pressure; the
enterprises and individuals
that will thrive will be those
willing to adapt in a
disciplined, unsentimental
way.
Generation Flux is a term that describes all of this -
the chaotic business era that we have moved into -
as well as the people who are poised to thrive in this
environment. - Robert Safian - editor FastCompany
Monday, February 20, 12 5
6. The tornado of changes from CPA Vision Project circa 2000
Monday, February 20, 12 6
8. This time it is different.
“What got you here, won’t get you there.” - Emmanuel
Gobillot - Leadershift
Monday, February 20, 12 8
9. The idea of a hierarchy that
fundamentally empowers the few and
disempowers the many is more or less
dead. - Gary Hamel Forbes
“Command and control hierarchical
structures are being disintegrated” -
Danah Boyd - Microsoft Researcher
9
You ain’t seen nothing yet!
Monday, February 20, 12 9
13. 1. Changing demographics - Aging workforce, diversity, 4 generations in the
workplace
2. Increased globalization, economic shifts and increasing competition
3. The technological revolution - cloud, social, big data & XBRL
4. Issues around information security, privacy & data integrity
5. Shift to consumer and employee power (from push to pull)
6. Changes in the way we communicate - mobile, txt, skype
7. Work-life challenges or conflict - "do more with less", 24/7 work
8. Information Overload - filter failure
9. Increasing complexity of rules and standards (IFRS, GAAP, PCAOB,
SEC)
10. Economic uncertainty - deficit, debt and pressure on government
Monday, February 20, 12 13
14. Top Five Issues Facing CPA Firms (PCPS)
1. Partner
Accountability
2. Bringing in New
Clients
3. Retention of Current
Clients
4. Fee Pressure / Pricing
of Services
5. Developing a
Succession Plan
Monday, February 20, 12 14
18. Our new research bears out
that the human dimension –
relationships with customers,
employees, partners and
communities – will be key to
getting things moving again
and sustaining success over
the long run.
CGMA & your Business &
Industry members
Monday, February 20, 12 18
19. The Letter
for today is
“C”
• Change
• Complexity
• Compliance
• Convergence
• Cascade
• Competition
19
Monday, February 20, 12 19
20. Change
4x=1890
7x=1670
20
Monday, February 20, 12 20
21. Complexity
“the biggest
challenge facing
enterprises from
here on will be the
accelerating
complexity and the
79%
velocity of a world
that is operating as
a massively
interconnected
system.”
51% 21
Monday, February 20, 12 21
22. The CPA Profession and CPE
6,000 pages
17,000 pages
500 Million words
Monday, February 20, 12 22
23. How is your knowledge inventory?
Monday, February 20, 12 23
29. 29
Tsunami of 1099K and info returns
Monday, February 20, 12 29
30. CPAs in Tax
The increase in IRS
activity is swamping our
tax practitioners and
costing them hundreds
of hours in chasing
down IRS notices.
30
Monday, February 20, 12 30
32. Public Private Int’l
Company Company Company
Financial
Reporting SEC$ FASB$ IASB$
FASB$ PCFRC$ IFRS$&$SME$
Auditing AICPA$
PCAOB$ ASB,$ARSC,$PRB$
IAASB$
Ethics AICPA$ AICPA$
PEEC$ PEEC$
IFAC$
State Boards of Accountancy
Monday, February 20, 12 32
33. Cascade
“a series of steps or stages that,
once initiated, continues to the
final step because each step is
triggered by the preceding one,
resulting in amplification of the
signal, information, or effect at
each stage.”
Monday, February 20, 12 33
34. 34
Sarbanes-Oxley Act of 2003
Monday, February 20, 12 34
35. CPAs required to register as
debt settlement advisors
35
Dodd-Frank - the bill that keeps on giving
Monday, February 20, 12 35
37. MACPA s Social Media Map
82,027 views
1,251 connections
450 connections
80,568 views
3,570 followers
450 members
Top Accounting
Blogs – 2009, 2010, 2011
Top 50 Business Blogs - 2011 34
Monday, February 20, 12 37
38. The generation gap is widening
"For Gen Y, training and development is the most highly valued employee benefit.
The number choosing training and development as their first choice of benefit is
THREE times higher than those who chose cash bonuses."
Monday, February 20, 12 38
39. 39
“You can’t stop the waves, but you can learn to surf”
- Jon Kabat-Zinn
Monday, February 20, 12 39
40. The Letter
for today is
still “C”
• Continuous
Learning
• Collaboration
• Competencies
=
Career Success! 40
Monday, February 20, 12 40
41. 41
Picture: John Drake - Flickr
“...where the most important skill is the ability to
acquire new skills.”
Monday, February 20, 12 41
42. It really is about this...
2"
Monday, February 20, 12 42
45. According to these young professionals, the
future is one in which CPAs:
● are proactive, flexible, adaptive and
collaborative by nature;
● have regained the trust of their clients and
the public at large;
● have successfully bridged the profession’s
“leadership gap” by focusing on
succession planning, personal growth, and
generational cooperation;
● have created the profession’s premier
global industry standards and best
practices;
● have redefined the profession through
work / life integration, collaboration, and a
team-first approach; and
● have earned a reputation as technological 45
innovators.
Wisdom from the MACPA Leadership Academy
Monday, February 20, 12 45
47. “The organizations that
will become the household
names of this century will
be renowned for
sustained, large-scale,
efficient innovation.
The key to that capability is
neither company loyalty nor
free-agent autonomy but,
rather, a strong collaborative
community.”
47
HBR, July-August 2011
The collaboration curve replaces the
experience curve
Monday, February 20, 12 47
48. How to
increase your
Complexipacity
1.Improved forecasting
methods
2.Better risk mitigation
3.Making tradeoffs
4.Ensuring diversity of
thought (collaboration)
48
Monday, February 20, 12 48
49. ■ Companies increase training to fill
skill gaps
■ Training groups gain efficiencies
■ Extending the reach of the training
organization
■ Changing roles with the L&D
function
■ Making it stick - reinforcement
■ Social learning becomes
mainstream
■ Outsourcing for efficiency 49
Trends in Learning & Development
Monday, February 20, 12 49
54. Haven’t we been here before?
1992 2001
CPE$Profession$–$Training$0Environmental$Scan$
2001 2006 2009 2011
Monday, February 20, 12 54
55. 1. Ask the naive question
2. Be the house (measure,
odds, risk)
3. A willingness to try anything
4. look around (especially
outside)
5. Confidence matters -
Paul DePodesta - VP of Player
believe in yourself Development for the New York Mets
formerly Asst GM of Oakland A’s
55
Adopt a moneyball mindset
Monday, February 20, 12 55
57. 1.Providing a unique interface between
members of the organization
2.Delivering unique creativity
3.Managing a situation or organization
of great complexity
4.Leading customers
5.Inspiring staff
6.Providing deep domain knowledge
7.Possessing a unique talent
57
Become a Linchpin
Monday, February 20, 12 57
58. A leader’s
job is to
provide
hope and
inspiration...
58
Monday, February 20, 12 58
59. Tom Hood CPA, CITP. CGMA
CEO
Business Learning Institute
Maryland Association of CPAs
http://www.bizlearning,net
(800) 888-481-3500
tom@bizlearning.net
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
Youtube: http://www.youtube.com/thoodcpa
Second Life avatar name: Rocky Maddaloni
Monday, February 20, 12 59