MACPA PIU October 2014 - Student Edition

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