As with every year, several topics arose during 2016 that garnered the attention of our profession. We have an informative library of well-written articles on our CPA Center of Excellence® Online Community, which made narrowing the selection a fun exercise. From bold challenges and opportunities to success stories and initiatives, here is a look back at what I think were the “top 10” blog topics for the year.
#10 Developing the Next Generation
I always strongly encourage students to intern at some point during their academic journey. In fact, I recently published an article discussing this very topic. During the spring semester of my senior year at Manchester University, I interned with Baden, Gage & Schroeder. The experience for me opened doors while providing a benefit to the firm. In her article, “The Smoke Detector: Internships - The Firm’s Fountain of Youth,” Nancy Morton provided an inside look of an internship experience.
#9 Ethics: Competency-Based Education
In May, John Kane shared how Indiana continued to lead in ethics education. “This rule change creates new ways that competency-based or experience-based ethics education can be completed to meet the CPE requirements.” Two new options exist for obtaining the required ethics education: (1) competency-based course and (2) earning credit for experience serving in a non-compensated ethics capacity for a professional or trade organization.
As a CPA with diverse experiences, I love the topic of innovation. For our profession to remain relevant into the future, it’s important that we innovate. Joe Edwards and Rebekah Payne both discussed innovation in terms of the CPA profession.
#7 Overtime Rules
From finance committee meetings to conferences, this topic certainly sparked a lot of conversation. Following a judge’s injunction and with new administration in 2017, stay tuned! Jason Bainter blogged on this topic.
#6 Professional Development
Lisa Fleck and Philip Jackson offered their views on professional development. As a former professor and now an education administrator, I am a strong advocate of continuing education. In addition to innovation, professional development and cross-learning facilitate innovation and value-added services.
#5 Role of the Chief Financial Officer
My official title is chief financial officer of a private high school. In September, I discussed how the role of the CFO continues to evolve. My responsibilities also include operations. Perhaps, chief financial and operations officer would be a better fit. Regardless, the role of CFO has expanded as Jenny Norris also shared on I was just thinkin’ ….
#4 Sales Tax on Professional Services
What are your thoughts on imposing a tax on professional services? Philip Jackson provided some insight. I don’t believe this will impact Indiana in the coming year, but it is a potential issue each year and always something to be aware of.
#3 SSARS 21: Compilations and Engagements to Prepare Financial Statements
Having served as discussion leader for preparation, compilation and review of financial statements, I appreciated Joe Edwards’ article highlighting some of the changes and requirements.
#2 Succession Planning
Looking for someone with five years of experience? Should we acquire or merge with another firm? Increased focus on talent pipeline? Our profession is not unique as baby boomers continue to retire. Bob Reynolds offered his perspective.
As a former software consultant, I embrace the advances of technology and always look forward to its evolution. I also realize the risks including cybersecurity. Rebekah Payne blogged about this in early 2016. How many of the predictions she cited came true?
A recap would be remiss without highlighting success. During 2016, the Society received one of the prestigious Power of A Summit Awards from the American Society of Association Executives for the CPA Center of Excellence®. For more information, check out “We’ve Reached a Summit” and “It’s Not a Secret”.
As I reflect on 2016 and plan for 2017 and beyond, one of my goals is to expand my focus on innovation. What aspirations or resolutions do you have for the coming year? What topic(s) should be at the forefront? How will you help lead our profession as we approach 2025? What do you have on your reading list?#Overtime #CFO #financialstatements #innovation #SuccessionPlanning #professionaldevelopment #Technology #salestaxonservices #SSARS #ethics #generations