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State of My Industry: Accounting - A Clarion Call to Get Out of Our Box

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The need for future-focused accountants has never been greater. In a recent national survey, 76 percent of small and mid-size business owners say their CPAs are not proactive, and 75 percent have changed firms because their CPAs are providing reactive services rather than proactive advice. Another recent survey found that only 6 percent of CFOs, controllers, and management accountants say they are future-ready and unable to deliver the game-changing value their organizations desperately need.

The urgency of the highly competitive marketplace and pace of technological change are fueling the demand for an “anticipatory” accounting and finance professional who can help businesses and organizations look through the windshield instead of the rearview mirror to see around corners.

The critical skills necessary to achieve this vision were identified as:

1. Communications – the ability to effectively exchange reliable and meaningful information using appropriate context and interpersonal skills.
2. Leadership – being adept at influencing, inspiring, and motivating others to facilitate change and achieve excellence.
3. Strategic and critical thinking – skills in evaluating facts, challenging assumptions and applying judgment to develop relevant solutions.
4. Anticipating and serving evolving needs – abilities in identifying strategic directions and opportunities to meet the evolving needs of those we serve.
5. Synthesizing intelligence to insight – expertise in connecting data, performing analysis and using business acumen to provide astute guidance for better decision making.
6. Integration and collaboration – effectiveness in building strategic alliances and working collaboratively to provide multidisciplinary solutions to complex problems.

We have spent years building our boxes – in my case, 33 years! Isn’t it time we get out of our boxes? What if we work with the younger generations to help us see new ways out of the box while we reinforce the core values and wisdom gained over our careers?

Our Business Learning Institute can help design a curriculum that equips your accounting/finance professionals with these critical success skills in multiple formats - instructor-led, webcast, on-demand and our newest transformational learning project with Daniel Burrus called the Anticipatory Organization: Accounting and Finance Edition... for more info http://www.blionline.org

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State of My Industry: Accounting - A Clarion Call to Get Out of Our Box

  1. State of Accounting: 2015 How Business Would Improve If More Accountants Were Proactive, Not Reactive By:Tom Hood, CPA, CITP, CGMA
  2. www.blionline.org Source: CPA.COM Insight into the CPA of the Future Study 2014 Only 8% of CPAs are Future Ready Future Ready is the capacity to be aware, predictive, and adaptive of emerging challenges, tech innovations, and trends and changes in business, population, and social environment.
  3. Only 13% of CPAs Ahead of Curve
  4. A Clarion Call to Get Out of Our Box(es)
  5. Why are windshields so much bigger?
  6. CPAs are trusted advisors who help business and organizations shape their future. Combining insight with integrity they deliver value by: •  Communicating the total picture with clarity and objectivity; •  Translating complex information into critical knowledge; •  Anticipating and creating opportunities; •  Designing pathways that transform vision into reality. Source:AICPA: CPA Horizons 2025 Report
  7. We Need New Skills…
  8. www.blionline.org
  9. The No. 1 Barrier? But I am too busy and don’t have time…
  10. ANTICIPATION   Strategic  Thinking   External  Awareness   Vision   Con7nuous  Learning   Innova7on   Crea7vity   Problem  Solving   Priori7za7on   Business  Acumen   Decisiveness   Influencing/Persuading   Emo7onal  Intelligence   Consensus  Building   Collabora7on   Inspira7on   Risk  Management   The competency of “anticipation” actually includes a number of competencies included in many of the top companies of today and the CPA Profession as well. Across these models, you'll see a common theme of "strategic thinking," "innovation" and "leading change." Many of these organizations build (and validate) fantastic competency models and know what they want people to do. The beauty of the Anticipatory Organization model is that it offers a clear process that makes highly-abstract leadership competencies attainable and trainable.  If an organization wants to make "strategic thinking" or "innovation" a core competency, we can provide clear, trainable activities that can be targeted to a wide range of learners (from individual contributors to senior leadership). We provide the bridge between the competency model and the desired observable behaviors. Anticipation –The Critical Competency
  11. The research: Anticipation is showing up across our Profession MACPA  Member  Survey   Top  Challenges  2014   Sleeter  Group  Survey  2014  
  12. ANTICIPATION   Strategic  Thinking   External  Awareness   Vision   Con7nuous  Learning   Innova7on   Crea7vity   Problem  Solving   Priori7za7on   Business  Acumen   Decisiveness   Influencing/Persuading   Emo7onal  Intelligence   Consensus  Building   Collabora7on   Inspira7on   Risk  Management   An7cipatory  Organiza7on:   Finance  /  Accoun7ng  Edi7on   CGMA Competency Framework
  13. The Anticipatory CPA / Finance / Accounting Professional
  14. From: Reactive To: Preactive & Anticipatory From: Crisis Management To: Opportunity Manager From: Problems To: Solutions
  15. http://blionline.org/the-anticipatory-organization/
  16. “You can’t stop the waves, but you can learn how to surf.” – Jon Kabat Zinn Start by riding the hard trends…
  17. A Clarion Call to Get Out of Our Box(es) We have spent years building our own boxes, now it is time to break out…
  18. Trust Integrity Objectivity Excellence Lifelong Learning Stimulate Progress and Protect the Core. What should not change…
  19. Getting started:The No. 1 App Just one hour per week…
  20. If there is a conversation about the future of the profession, you're bound to hear Hood's name mentioned as one of the people leading the way. – Accounting Today Tom Hood, CPA, CITP, CGMA Named the Second Most Influential in Accounting by Accounting Today Magazine 2013 Top 150 Influencer by Linked-In Top 25 Influencers in Learning & HR by HR Examiner CPA Practice Adviser Accounting Hall of Fame Top 25 Public Accounting Thought Leaders by CPA Practice Adviser Working on Learning Management with AICPA/ CPA2Biz, Cloud Curriculum, Performance Management /XBRL, Leadership & Generations CEO Maryland Association of CPAs (MACPA) www.macpa.org Business Learning Institute (BLI) www.blionline.org http://www.linkedin.com/in/tomhood/

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