More than 200 Maryland CFOs, controllers, and CPAs in government and non-profits attended our first Professional Issues Update for 2012 in Timonium.
They had a lot to say about our economy, government and the general state of the state.
Insights on the economy and hiring outlook
On the economy, only 6 percent said the economic downturn is over, while 44 percent saw some improvement. Forty-three percent said there is still a long way to go, and 7 percent said there is “danger ahead.”
Then we referenced an Accountingweb piece on the state of finance and accounting and asked for their outlook on hiring. They responded with 67 percent planning to keep staffing levels the same, 20 percent planning to increase staffing, and 13 percent planning to decrease staff size.
There is continued concern about government deficits at both the federal and state levels, and lots of discussion about the increasing compliance burden facing businesses of all sizes. We cited the recent Small Business Administration study on compliance that shows a cost to small businesses (less than 20) of $10,500 per person, just for federal laws and regulations. And that was in 2008, before Dodd-Frank!
Information overload and keeping up with the fast pace of change was a major theme.
Insights about the latest trends facing CFOs and the CPA profession:
From the Twitter stream came these comments:
The five qualities of extraordinary leaders:
Here is our presentation.