 Each quarter, the Association of International Certified Professional Accountants surveys finance decision-makers in the United States about their outlook for the coming 12 months. The fourth-quarter results show that sentiment has dipped regarding the domestic and global economies. The decline is in part due to subsiding euphoria of the first quarter and tax law changes, though the overall outlook remains strong. Ken Witt, CPA, CGMA, the Association’s lead technical manager for management accounting, delves further into the results, focusing on hiring plans and the top challenges facing businesses.

The reasons behind a drop in US economic sentiment

The Journal of Accountancy podcast discusses the key issues facing the accounting profession.

Business

Investing

Careers

Management & Marketing

Business News

Shopping

News

To Jen Croneberger, it’s easy for many in society to spend a lot of time planning to do big things but not always carrying out those plans. Taking an “if/then response approach” to life prevents accomplishing big goals, and so Croneberger advises people to take big leaps, even if they’re uncertain about having a safety net. That’s one of several leadership concepts discussed on this JofA podcast episode. Croneberger, an author and consultant, is the keynote speaker June 17 at the  AICPA & CIMA Not-for-Profit Industry Conference. In this conversation, she previews that session, explains the words behind the acronym BRAVE, and shares the importance of human-focused leadership in an AI-driven world. Croneberger also responds to the topic of a JofA episode from April 2022 about how  belief differs from arrogance. What you’ll learn from this episode: ·         A preview of Croneberger’s keynote session at the AICPA & CIMA Not-for-Profit Industry Conference in June.  ·         Why leadership is “a behavior, not a title.”  ·         Some of the ways she applies a sports background to her role as a consultant.  ·         Why Croneberger likes the leadership advice “Go before you’re ready.”  ·         How we can use digital devices to improve self-care.  ·         The importance, in Croneberger’s mind, of speaking openly about topics such as depression.

‘Go before you’re ready’: Advice for leaders in all walks of life

 In the  first part  of a two-part podcast discussion, Hamza Khan detailed how he was affected by a severe case of burnout about 10 years ago. In this episode, Khan, an author and keynote speaker, shares more about his battle with burnout today.  Khan explained some of the reasons burnout can affect women in particular and shared some of the knowledge gleaned from attending two AICPA & CIMA Women’s Global Leadership Summits. He also discussed why having relatively few one-on-one meetings with his boss became a bad thing — and how leaders can make those meetings better. What you’ll learn from this episode:  ·         Why Khan wanted to emulate Jay-Z.  ·         The CASTLE acronym and it’s tie-in to burnout.  ·         Why Khan took one-on-one meetings for granted earlier in his career.  ·         The tough questions managers should ask employees in one-on-one meetings.  ·         Why the technological disruption in business today is “a time of danger but also a time of opportunity.”  

Comfort in the uncomfortable: One-on-one meeting strategies that work

 Hamza Khan believes the four-day workweek to be “an inevitability.” It is the sort of workplace trend that could help to diminish burnout, which is the main topic of this JofA podcast episode with Khan, an author and entrepreneur.  This episode is the first of a two-part conversation with Khan, who has given keynote presentations at several AICPA & CIMA events, including the Global Women’s Leadership Summit and the CFO Conference.  Khan spoke last year on the JofA podcast about  the difference between managing and leading, and he’ll talk on the next episode about how strong leadership should include meaningful one-on-one meetings.

Working 9 to 9: One expert’s experience with severe burnout

 Tom Hood, CPA/CITP, CGMA, executive vice president–Business Growth and Engagement at AICPA & CIMA, together as the Association of International Certified Professional Accountants, has his finger on the pulse of the profession. He’s traveled all over, talking to everyone from corporate CFOs to newly minted accountants and accounting apprentices, and he’s sharing some of the insights gained from those discussions on this episode of the JofA podcast.  Hood, who has been in his current role for three years after a long stint as CEO of the Maryland Association of CPAs, takes time to reflect on his move to the “global stage,” to explain the issues that most concern finance leaders, and to detail an early   apprenticeship success story. What you’ll learn from this episode: ·         Hood’s reflection on three years in an AICPA & CIMA executive role.  ·         The “pre-Internet” computer technology Hood’s company used when he was a CFO.  ·         One example of how  the power of peers has built the Future of Finance Leadership Advisory Group.  ·         Why the story one bank’s apprentice provides hope in addressing the accounting talent pipeline drought.  ·         The top-of-mind issues for finance leaders for this year and into 2025.

How to best tackle technology and the talent pipeline

 Ken Witt, CPA, CGMA, AICPA & CIMA  associate director–Management Accounting Research and Development,  explains in this JofA podcast episode why finance decision-makers in the first-quarter Business & Industry Economic Outlook Survey are more optimistic now compared with the end of 2023.  Witt summarizes the survey results, including CPA decision-makers’ expectations for revenue and profit increases and the top challenges facing them and their businesses. What you’ll learn from this episode: ·          A breakdown of sentiment about the domestic economy and CPA decision-makers’ own organizations.  ·         Projected increases in revenue and profits for the coming 12 months.  ·         The top challenges facing finance executives.  ·         The hiring outlook for the coming year and how it differs by company size.

The reasons behind a drop in US economic sentiment

Download our free app to listen on your phone