Four Strategic Technologies That'll Rule the Accounting Industry in Three Years

Date: Thursday, June 25, 2009
Time: 01:00 PM ET / 12:00 PM CT / 11:00 AM MT / 10:00 AM PT [Prevailing Time]
Presenter(s): Ken Garen, CPA President & Co-Founder of Universal Business Computing Company (UBCC)
Objective(s):
Technology is rapidly changing the way in which accountants work. Strategic technologies are ones with the greatest potential for significant* impact on the accounting professional industry during the next three years.

In this session, Mr. Garen will explore and discuss Social Networking, Greener, Web-Centric, and Cloud Computing as the four strategic technologies that will rule the accounting industry in three years.

*Factors that denote significant impact on our industry have the high potential to disrupt a practice, require a major dollar investment, or put a practice at risk by being late to adopt a technology.
Field of Study: Specialized Knowledge and Application
Program Level: Basic, Intermediate, Advanced
CPE Credit: 1 Credit Hour
Delivery Method: Group Internet-based

No advanced preparation or prerequisites are required for this course.
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Course Description

It is critical that accountants get a handle on these strategic technologies that are in the pipeline and well on their way, as they are set to impact an organization's long-term plans, programs and initiatives.

These technologies are highly strategic because they will have either matured to broad market use during the next three years, or because they enable a decided strategic advantage for the accountants who are the early adopters.

Accountants must be educated to better understand the dramatic impact this industry will feel when these technologies advance, and better understand how they too may implement perhaps one or even all four initiatives within their own practice to take advantage of the opportunities afforded to the early adopters.

1) Strategic Social Networking. Strategic Social Networking has always been an important way of making business connections between people. The world continues to evolve from out of the office physical presence (i.e. newspapers, magazines, physical items), and people have decreased the frequency and reliance on commuting “downtown” to physical office space to get work done. Our industry is effectively morphing into a more virtual world where most aspects of business that used to require physical travel can now be delivered via the Internet, with social interaction becoming much less frequent. Therefore, the need is ever present to take measures to cause networking, replacing what used to be consistent face-to-face interaction, so that new business prospects and social contacts can be initiated when an accountant is not consistently moving about from location to location in the business world.

2) Greener: One of the most significant trends from the last century that is carrying forward to this century is the trend to employ technology, software and processes that use fewer resources in the production, usage, and storage of information. Moving ahead, resources will become even scarcer, making “going a bit greener” a compelling economic case in addition to being essentially “good for the planet”. Greener can mean paperless, and it can also mean ensuring the computers and printers being utilized require less energy to run compared to their predecessors. The ultimate efficiency measure being adopted by accountants at an ever-increasing rate is paperless practices, where accountants are able to receive and deliver information using no physical resources such as paper (none are being consumed or required).

3) Web-Centric: This can be best described as having the Internet serve as a Wide Area Network (WAN) on steroids. Web-Centric practices allow software and data to reside on multiple computers while still interacting seamlessly with each other. This also allows for tremendously more scalability that would be achievable in any single-server scenario. In the near future, standards will be created to allow for automatic and free-flowing exchange of information, similar to how E-mail flows freely today. For example, accountants will be able to review an entire (up to the last minute) financial picture whenever and wherever they want to.

4) Cloud Computing: This represents a growing trend that will continue to gain steam in which the software application and data reside on a server or servers somewhere on the Internet and the user of the information can gain access to it from any connection to the Internet, provided they have the correct security credentials. This allows for a tremendous freedom of usage of the data, having information available wherever and whenever they need it or desire access to it. Cloud Computing frees the accountant from worrying about staying current with software upgrades or having to back up data.

Presenter and Moderator Bios
Ken Garen has more than 35 years of experience as a CPA, a technology business owner, and as a business technology software designer for the public accounting industry. Mr. Garen is the co-founder and President of Universal Business Computing Company.

Mr. Garen offers a wealth of technology design knowledge, practical application, and public accounting practice management experience. He has managed a successful and highly profitable public accounting practice with over 300 clients. While leading this practice, Mr. Garen tripled their monthly client base by pioneering and utilizing cutting edge computer technology for small businesses.

In 1981, he co-founded UBCC and led the company to success as a foremost developer of accounting and payroll software for accounting practices, payroll service bureaus, and commercial enterprises with large transaction volumes or unique accounting/payroll requirements. Mr. Garen has achieved national recognition as a leader in the advanced design of software for portability, flexibility and ease of integration.

Mr. Garen is a well-respected and highly accomplished accounting industry speaker, who has conducted national and regional CPE presentations at state and national accounting industry meetings, conferences, most recently featured in two separate CPE sessions as a solo speaker and panel member at the 2008 NYSSCPA Business & Technology Event, and as a solo CPE session speaker for the Accounting Administrators Association.

Mr. Garen contributes dozens of accounting industry technology focused articles annually to nationally recognized and highly-respected accounting industry publications including all of the SourceMedia publications, CPA Magazine, and the Accounting Software 411 website. He is listed in the current editions of Marquis Who’s Who in Amercia®, Marquis Who’s Who in the West®, and Who’s Who in Science and Engineering®. He is a current member of the Professional Association of Small Business Accountants, the Independent Payroll Providers Association, and the American Payroll Association.

Mr. Garen attended Southern Illinois University and Oxford University, and holds Bachelor of Science degrees in Accounting and Business Education. He earned his Certified Public Accountant designation in 1972.

Mr. Garen has accumulated a respectable list of speaking accomplishments, including:
• NYSSSCPA Business and Technology Event – May 2008
• American Women’s Society of CPAs – May 2008
• Accounting Administrators Association – March 2008
• Arizona Society of Certified Public Accountants – July 2007
• Accounting Administrators Association – July 2007
• Michigan Association of Certified Public Accountants Annual Event – June 2007
• American Payroll Association Event – 1999
• American Payroll Association Event – 1998
• California Certified Public Accountants Event, Sponsored by DCI– 1997
• Minnesota Certified Public Accountants Event – 1994
• Midwest Accounting Show – 1993

Cost
$25.00 for CPAFMA Members / $40.00 for Non-Members / Free for PAFMs

Delivery System

• All programs are delivered using the Zoom platform.
• Confirmations will include log-in instructions.
• Participants are able to participate using any device with an Internet connect (if the device does not have speakers, the participant can also dial-in) or they can participate with audio only by dialing in.
• All registrants will receive a link to the MAPCast’s recording by email within 48 business hours of event’s conclusion.
• There will be assistance available to help with technical and connectivity issues up to 10 minutes prior to the start of the presentation.

Registration

All registration is done on-line with the names and email addresses of each individual guest. Log-in details will be emailed to all registrants approximately 1-2 days prior to each session.

Refund Policy

CPAFMA will not issue refunds for MAPCasts. If a registrant is unable to participate in the MAPCast and sends written notice to info@cpafma.org 48 hours prior to the session, a credit will be provided for a future MAPCast. Alert the CPAFMA staff member monitoring the MAPCast if technical difficulties are encountered and technical support will be provided to eliminate problems with future MAPCasts.

Additional Information

Live participation is required for CPE credit and polling questions must be answered to show active participation. All registrants will receive an email following the session with links to the slides and/or handouts, and a link to the MAPCast recording (unless otherwise stated). If you are unable to participate in the live session, you can still watch the recorded session, but you will not be eligible for CPE credits.

For more information regarding CPAFMA MAPCasts or administrative policies such as complaint and refund, contact the CPAFMA Headquarters at 937-222-0030, or info@cpafma.org.