macpa business & industry roundtable - august 2011

Business & Industry Roundtable

August 18, 2011MACPA Towson CPA Center

Agenda• Welcome & Introductions – Anoop Mehta,

Incoming Chair & Tom Hood, CEO• History of the B&I Committee – Tom Foard –

MACPA Past Chair• National B&I Perspective – Tom Foard – past

chair AICPA BIEC & member AICPA BOD• Maryland Future Forums – Top Trends to Watch

– Joselin Martin – Chair MACPA B&I Committee • What’s keeping you up – trends & issues?• What can MACPA Do to help?

National View – Tom Foard Financial Reporting • International Financial Reporting Standards 

• Private Company Financial Reporting

 Enterprise Risk Management • Corportate Governance, Risk Management, Internal Control

• COSO Internal Control – Integrated Framework Project  Sustainability • Triple Bottom Line (People, Planet, Profits)

• Services (Accounting, Reporting, Assurance)

Enhancing Member Value – Joint Venture Between AICPA and CIMA

• Chartered Global Management Accountant (CGMA)

• Advance the Science of Management Accounting

MACPA Future Forums -Top 10 Trends - Joselin Martin

1. Pressures on Gov’t & rising deficit2. Changes in learning – informal & on-demand3. The cloud = flex, global, work anywhere4. Increasing complexity, ambiguity & change5. Globalization and economic shifts6. Information overload7. Shift to consumer power (push to pull)8. Workforce, demographics, the “she” economy9. Going mobile10. Social media = business

MACPA is positioned well

What stuck out for you?

MBSN! _ Management by sticky notes

History of MACPA BizInd Commitee

Some Great Ideas!

What’s keeping you up at night?

Top 10 Issues Facing BizInd

1. Communicating effectively (new tools vs face to face)2. Talent – Training – Succession Planning3. Economic environment4. Generational – Work/Life balance5. Supply chain – rising costs6. Strategic planning in uncertainty7. Financial literacy about business8. Increasing government regulations9. IT security / privacy10. Multi-tasking and increasing workload

What can MACPA do to help?The group identified areas that MACPA could help CFOs, controllers and financial professionals deal with the pressing issues.

One major idea was to have quarterly roundtables focused on one of these main issues with a facilitated discussion afterwards. Most of the key issues were already being dealt with by MACPA.

The group emphasized the importance of continued advocacy at the federal, state, and state board areas.

Refelctions

There is a certain felling of relief when you know that you are facing the same issues as others in your Profession. That was definitely the feeling at the end of this roundtable. It was almost therapeutic having engaging discussions with other financial professionals.

Key events & dates

Government Contractor’s Conference - Sept 20, 2011 -GaithersburgTechnology Conference - October 3, 2011 - LinthicumCPA Day in Annapolis - Jan 18, 2012 -AnnapolisBusiness & Industry Conference - April 20, 2012 -Ellicott CityMACPA CPA Summit - June 11&12, 2012 - BWI

Links

• Strategic Planning– http://www.bizlearning.net/live/i2astrategicplanning

• Future Forums– http://www.bizlearning.net/live/i2afutureforums– Leadership Development– http://www/bizlearning.net/live/i2aleadership

• Customized Training– http://www.bizlearning.net/learningcenter/

• Search our Catalog– http://www.bizlearning.net/learningcenter/customizedtr

aining/BLI_catalog.cfm

Tom Hood, CPA.CITPCEO

Maryland Association of CPAsBusiness Learning Institute

(443) 632-2301E-mail tom@macpa.org

Web http://www.macpa.orgBlog http://www.cpasuccess.comhttp://www,bizlearningblog.com

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