Future-Proof

Gary Boomer is the founder, visionary, and strategist at Boomer Consulting and a recognized thought leader in the accounting and finance profession.

In This Conversation We Cover:

• How to become a thought leader
• How Gary views the future of the accounting and finance profession
• How our mindsets, skillsets, and toolsets need to change to move the profession forward
• The 3 ways you can add value
• Who influences influencers like Gary?

To learn more, and for the complete show notes, visit blionline.org/blog.

Resources:

• Learn more at Boomer.com
• Connect with Gary: Twitter | LinkedIn
• Register for the inaugural Anticipatory Accelerator (Nov. 5-6): MACPA.org/Anticipatory
• Read: “5 things to know about the future of jobs”
• Read: Mindset: The New Psychology of Success by Carol Dweck

Future-Proof is produced by Podcast Masters

Journalists do exceptionally important work... and often without a whole lot of credit being thrown their way.

But think about it: Journalists are our lifeline to what’s going on in the world. We don’t have time to find everything out on our own, so we rely on them to give us the information that matters to us – and that’s a hugely valuable role.

Which is our way of saying that we’re extremely excited to bring you this conversation with Daniel Hood, the editor-in-chief of Accounting Today, which is a fantastic source of news and resources specific to our profession.

To learn more, and for the complete show notes, visit blionline.org/blog.

Resources:

• Stay informed: AccountingToday.com
• Connect with Daniel: Twitter | LinkedIn
• Register for MACPA’s 2018 CPA Summit

Future-Proof is produced by Podcast Masters

It’s time to talk about diversity and inclusion.

Why here, on a show about future-proofing our businesses? Well, because the future of this profession depends on it.

Some of you may be thinking, “Isn’t that a little dramatic?”

Not at all – and for a couple of reasons. But you don’t take our word for it because today we’re talking to Kim Drumgo, the director of diversity and inclusion at the AICPA, who has researched this more than just about anyone else.

In This Conversation We Cover:

• Why diversity and inclusion are not synonyms
• The role of belonging in this conversation
• How diversity and inclusion affect the bottom line
• What your organization can start and/or stop doing to foster diversity and inclusion
• How is the accounting and finance professional positioned right now?

Does Diversity & Inclusion Really Matter?

There are two big reasons that diversity and inclusion matter – and matter a lot.

First of all, there’s the right reason: this profession should look like the public that we serve, and every person in this profession deserves the same opportunities as every other person in this profession.

A profession that invites the best thinking of everyone – regardless of race, religion, politics, gender, or any other differentiator – stands heads and shoulders above anything else. We are better united than we are apart.

Then, there’s also the bottom-line reason – because, let’s face it, most things in this profession come down to money. So what does the bottom line say?

As reported by Melissa Suzuno in her article “6 Statistics That Will Convince You to Prioritize Diversity & Inclusion,” the bottom line is saying stuff like this:

• 67 percent of job candidates want to join a diverse team. And I’m guessing you want an in when it comes to finding top talent, am I right?
• 57 percent of your current employees want to prioritize diversity.
• Inclusive companies enjoy 2.3 times higher cash flow than their competitors.
• 35 percent of diverse companies outperform homogeneous ones.
• Josh Bersin found that inclusive companies are 1.7 times more likely to be innovation leaders in their market.
• Diverse companies are 70 percent more likely to report that their company has captured a new market.

When you listen to the bottom line, it says that having a more diverse and inclusive workforce makes you a business force to be reckoned with.

So how does that play out in the accounting and finance world?

Well, let’s start with this article from the Journal of Accountancy, written by Lucinda Harper:

Research indicates that more diverse and inclusive teams have a larger talent pool in which to find new talent, and they can use that as a recruitment tool for finding more top talent.

Diverse and inclusive organizations have access to a wider array of clients, which leads to more revenue. And on top of that, they’re more innovative because they have access to more varied ideas and deep thinking.

So there you have it: The business case for diversity and inclusion.

Want to help move diversity and inclusion forward in our profession?

If you are a finance or accounting professional in Maryland and you’re passionate about helping to move the diversity and inclusion needle, or even if you’re just interested in learning more, the MACPA is building a community around this important issue. We hope you’ll consider joining the conversation.

For more information, contact the MACPA’s Chief Operating Officer, Jackie Brown, at [email protected].

Resources:

• Learn more at AICPA.org/Diversity
• Connect with Kim on LinkedIn
• The Culture Code: The Secrets of Highly Successful Groups by Daniel Coyle

Our guest for this episode is Greg Kyte, who by day is the controller and general manager for the Utah Valley Physicians Plaza and co-host of the Thriveal CPA Network’s monthly podcast, along with Jason Blumer.

But by night, Greg is a standup comedian – and a darn fine one, too! He’s built a bit of a following in the CPA world by MC’ing events like Xero’s annual user conference and the VeraSage Symposium. And it’s actually Greg’s work as a comedian, not an accountant,/ that brings him to the show this week.

At the VeraSage Symposium in Dallas last November, Greg gave a great TED-style talk about the benefits and value of playing at work. It was a thought-provoking session, so we wanted to sit down with him and dig into what he means by “play at work” and how it makes life better for all of us.

In This Conversation We Cover:

• Greg’s history with stand-up comedy & opening for Weird Al Yankovic
• How play helps you become fully engaged in whatever you’re doing
• The 3 most beneficial types of play in the workplace

To learn more, and for the complete show notes, visit blionline.org/blog.

Resources:

• Learn more at GregKyte.com
• Connect with Greg: Twitter | LinkedIn
• Listen to Thriveal CPA Network’s monthly podcast
• Read: “The Power of Play at Work”

Future-Proof is produced by Podcast Masters

This week is all about financial statements, which may not seem like the sexiest subject in the world... but humor us for a few minutes! Because we’re talking about some of the most important documents that exist today, at least in corporate America, and they’re feeling the sting of disruption just like everything else these days.

There are academics out there questioning whether traditional financial statements are still relevant in a world where business models are evolving and innovating, and new types of businesses are emerging almost daily. Can a traditional financial statement serve these types of businesses and their audiences well?

And then there’s technology: Artificial intelligence and blockchain are poised to disrupt not just how financial statements are prepared, but what types of information are reflected in those financials and how they are audited.

So this is about as sexy as subjects go these days, at least from an accounting and finance standpoint.

Joining us this week to help make sense of all of this chaos is Erik Asgeirsson, the president and CEO of CPA.com, which is the technology arm of the AICPA.

To learn more, and for the complete show notes, visit blionline.org/blog.

Resources:

• Learn more at CPA.com
• Connect with Erik on LinkedIn
• Read Erik’s article: “What’s the future for financial statements in a digital world?”
• RIVIO Clearinghouse: rivio.com

Future-Proof is produced by Podcast Masters

“Coming of age digitally: Learning, leadership, and legacy” is an annual report from Deloitte’s Center for Integrated Research & MIT Sloan Management Review gauging how “digitally mature” today’s organizations are.

The study found that that “digitization is changing the very nature of work — which in turn can require new ways of leading.”

To learn more about this report, becoming a digitally mature organization, and what leaders can do in light of these findings, we’re joined by Anh Phillips of Deloitte.

To learn more, and for the complete show notes, visit blionline.org/blog.

Resources:

• Connect with Anh on LinkedIn
• “Coming of age digitally: Learning, leadership, and legacy”

Future-Proof is produced by Podcast Masters

Today, we’re talking about soft skills – you know, the EASY stuff. I mean, why else would we call them that? The name implies that they’re easy, not as important, and take a back burner to the harder technical skills that we need to do our jobs.

And you know what? That’s a load of crap. Soft skills are actually hard to master, and there’s really nothing easy about them.

More than that, these are the skills that will set us apart from our competition going forward. They’re the skills that help us communicate better, deal with people more effectively, foster trust, and build relationships.

The fact is, these skills are more crucial to the future of our profession than anything, and no one is more passionate about promoting these skills than our guest this week.

Jeff Nischwitz is the founder of The Nischwitz Group, a leadership speaker, an author, a coach, and a Business Learning Institute thought leader devoted to the idea that our future success depends on our ability to master these so-called “soft” skills.

To learn more, and for the complete show notes, visit blionline.org/blog.

Resources:

• Learn more at NischwitzGroup.com
• Connect with Jeff: Facebook | Twitter | LinkedIn
• Read Jeff’s blog: "Celebrate the Mundane"

Future-Proof is produced by Podcast Masters

Peter Margaritis says one of the most important roles that accounting and finance professionals will play going forward is competently communicating financial information; telling the stories behind the numbers in a way that creates shared understanding, communicates value, and entertains.

And he’s written a new book with tips on how to do that: Taking out Numb Out of Numbers: Explaining and Presenting Financial Information with Confidence and Clarity.

To learn more, and for the complete show notes, visit: blionline.org/blog.

Resources:

• Learn more at PeterMargaritis.com
• Listen to Change Your Mindset (& subscribe on iTunes)
• Connect with Peter: Facebook | Twitter | LinkedIn | YouTube
• Read: Taking out Numb Out of Numbers: Explaining and Presenting Financial Information with Confidence and Clarity
• Read: Improv Is No Joke: Using Improvisation to Create Positive Results in Leadership and Life

Future-Proof is produced by Podcast Masters

Today’s show is a little different. Instead of talking about what’s going to happen tomorrow, we’re talking about something pretty important that’s happening today: South Dakota v. Wayfair, the U.S. Supreme Court decision that clears the way for out-of-state retailers to collect sales taxes from customers, even if they have no physical presence in the state.

There’s a lot of uncertainty surrounding the ramifications of this decision still, but one thing is for certain: the world of sales tax is getting a whole lot more complicated.

So we sat down to talk with Scott Peterson, Vice President of U.S. Tax Policy and Government Relations at Avalara, which a company that makes software that provides automated tax compliance.

To learn more, and for the complete show notes, visit blionline.org/blog.

Resources:

• Learn more at Avalara.com
• Connect with Scott: LinkedIn | Twitter
• Avalara compiled a lot of help info here: avalara.com/us/en/learn/sales-tax/South-Dakota-Wayfair.html
• Read: “U.S. Supreme Court allows states’ sales taxes on online sales, overturns Quill physical presence rule”

Future-Proof is produced by Podcast Masters

Remember when people used to say, “Let your freak flag fly,” back in the 60s?

Well, today we’re going to let our geek flags fly because our guest is Rick Richardson, a CPA and managing partner of Richardson Media and Technologies.

More to the point, Rick is one of the deepest thinkers about current and future technology trends around. He studies this stuff almost religiously – so if you want to know which tech trends you should be paying attention to, keep listening.

In This Conversation We Cover:

• How to protect your home routers (the latest targets of those meddling Russians)
• The 6 tech trends that will have the biggest impact on the accounting and finance profession
• 5 more trends that Rick sees impacting us a little further down the road (roughly 6 to 8 years from now)
• Quantum computing & Moore’s Law
• Is this profession moving fast enough to keep up with these trends?
• Rick’s tips for the average accounting & finance pro who wants to stay up-to-date with technology

Resources:

• Learn more at RichardsonMediaTech.com
• Subscribe to Rick’s newsletter: TechnologyThisWeek.net
• Connect with Rick on LinkedIn

Future-Proof is produced by Podcast Masters