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The Anticipatory CPA #PSTECH

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For latest information see http://www.blionline.org/ao

Recent research from the AICPA says that the business environment for CPAs and their clients will be characterized by “unprecedented, massive and highly accelerated change” through 2025. To thrive in this new age of hyper-change and growing uncertainty, it is now an imperative to learn a new competency--how to accurately anticipate the future. The key to success in this fast-changing environment is to commit to changing before you are being forced to. This session will show how to anticipate these trends and move from being a crisis manager to an opportunity manager. At the end of the session participants will set actionable steps to elevate and accelerate their firm's strategy.

- Anticipate marketplace trends that will shape future markets
- Understand emerging innovation faster
- Identify opportunities 
- Develop clear actionable steps to accelerate growth for the organization and its customers

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The Anticipatory CPA #PSTECH

  1. The Anticipatory CPA How to Get Ahead and Stay Ahead and shift from Reactive to Proactive By:Tom Hood, CPA, CITP, CGMA
  2. www.blionline.org The Lookout Post
  3. 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.
  4. Only 13% of CPAs Ahead of Curve
  5. Gradual then Sudden
  6. Gradual then Sudden
  7. More Uber cars than yellow taxis on the road in NYC
  8. AirBnB Rooms available surpasses Hilton & Marriott
  9. Two of the world’s biggest oil and gas groups are set to deploy artificial intelligence software to do the work of back-office accountants and call- centre workers, in the latest sign that white- collar jobs could be under threat from the rise of smart machines.
  10. Will your job be done by a machine? Source: NPR Planet Money, May, 2015
  11. 'If the rate of change on the outside exceeds the rate of change on the inside, the end is near.’ – Jack Welch
  12. In the next five years we will TRANSFORM How we market, sell , communicate, collaborate, innovate, and educate – Dan Burrus
  13. Top Five Barriers 1. Not enough time. 2. Being reactive versus proactive. 3. Doing more with less. 4. Information overload (standards and regulations). 5. Managing change.
  14. A Clarion Call to Get Out of Our Box(es) Leave me alone! I spent thirty years building this box.
  15. “You can’t stop the waves, but you can learn how to surf.” – Jon Kabat Zinn Start by riding the hard trends…
  16. Start With Certainty www.burrus.com
  17. Legislation & Regulation •  Election implications •  Dodd-Frank •  Patent holding companies •  Cash basis •  STEM •  EEOC •  IRS Service •  Tax Extenders •  3115 Repair Regs •  Workforce Mobility •  Tax Reform
  18. Demographics
  19. Work environment Retention challenges Leadership diversity Skills gap Leadership gap Exam/pipeline numbers Tech’s impact on CPA functions Young CPA concerns
  20. Time Travel Audit
  21. Technology’s impact on firm service lines • Efficiencies • Innovation • Efficiencies • Innovation • Transformative • Revenue Growth New Opportunities Emerging Dramatic Change Audit Tax Accounting services Source:AICPA Spring Council 2015
  22. Cloud computing trends Source: Sage North America of small businesses are demanding cloud-based computing 61%
  23. Technology adoption remains slow Source: Sage North America of firms are using online or cloud solutions to collaborate and share accounting information with their clients 10%
  24. Why are windshields so much bigger?
  25. We Need New Skills…
  26. www.blionline.org
  27. 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
  28. http://www.blionline.org/ao
  29. www.burrus.com
  30. www.burrus.com
  31. The No. 1 Barrier? I am too busy and don’t have time…
  32. 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
  33. V A L U E Information Wisdom Knowledge Data MAXIMIZE HUMAN CAPITAL
  34. Trust Integrity Objectivity Excellence Lifelong Learning Stimulate Progress and Protect the Core. What should not change…
  35. The future is about relationships!
  36. Five Steps to Get Started 1.  Start with Certainty 2.  Start Focusing on the Future 3.  Start Learning New Skills 4.  Protect the Core (Purpose &Values) 5.  Collaboration & Relationships are key
  37. Getting started:The No. 1 App Spend just one hour per week in the future…
  38. “Those who initiate change will have a better opportunity to manage the change that is inevitable.” - William Pollard
  39. 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 CPA Practice Adviser Accounting Hall of Fame 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 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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