Embed Size (px)
Citation preview
University of MarylandAccounting & Business Association
March 31, 2015
The CPA Profession
Tom Hood, CPA, CITP, CGMA
Tom Hood, CPA, CITP, CGMACEO
MACPA www.macpa.organdBusiness Learning Institute (BLI) www.blionline.org
http://www.twitter.com/tomhood
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 Magazine
• Named the Fourth Most Influential person 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 Advisor• 2015 CPA Practice Advisor Accounting Hall of Fame
Inductee
http://www.linkedin.com/in/tomhood/
http://macpa.cnf.io
Respond to a Poll
Ask a Question
Select the session: University of Maryland
Download today’s slides at …www.SlideShare.net/thoodcpa
Business Landscape
Main Street
Owner begins to delegate
“Focus on growth”
Bu26 Million U.S. Small Businesses
Mid-Market
Delegation: departments
“System thinking”
.6Mbusinesses
24 million employees
3.2 million businesses26 million employees
22 million businesses27 million employees
Personal Businesses
Consumer & Business blur
0-5 Employees
Wall Street
Public Companies
Total 15,000
Listed 5,008
Public Accounting Business, Industry, Government & NFP
44,000 Firms – 250,000 CPAs 250,000 CPAs
Big Four
Top 100 > 70 CPAs
400 > 22 CPAs
800 > 10 CPAs
10,000 > 2 CPAs
33,000 Sole CPAs
CFOs, Controllers, Analysts
Attributes of a Profession:
• A distinct and evolving body of knowledge
• A commitment to the public interest – licensed by the government
• A code of conduct and ethics
State of MarylandCPA License
How to become a Certified Public Accountant
The four E’s (State of Maryland Example)
1. Education – (150 hours) Bachelor’s degree + 30 credit hours
2. Examination – Pass the Uniform CPA Exam3. Ethics – Maryland requires a separate ethics
course and examination4. 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 profession is part of the bigger infrastructurethat 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
The CPA Career
11
CPA credential in high demand!
Source: Wall Street Journal, 8/13/13
2006 20130
5
10
15
20
25
30
35
40
25%
38%
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…
Manager, Membership Development & EngagementMaryland Association of CPAsBusiness Learning Institute(443) 632-2320E-mail [email protected] www.macpa.org www.blionline.org Blog CPA SuccessTwitter @RJBrownCPALinkedIn Rebekah Brown, CPA
Rebekah Brown, CPA
Student ResourcesTomorrow’s CPA – MACPA’s Student Membershipwww.macpa.org/tcpaTwitter: @TomorrowsCPAFacebook: www.facebook.com/[email protected]
This Way to CPAwww.thiswaytocpa.com
Start Here Go Placeswww.startheregoplaces
