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INTRODUCTION TO THE CP AWA Y JENNIFER REED, CPA, CA ROBERT - PDF document

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30/05/2017 INTRODUCTION TO THE CP AWA Y JENNIFER REED, CPA, CA ROBERT BRUCE, CPA, CA Introductions Jennifer Reed, CP A, CA jreed@cpacanada.ca 1 30/05/2017 Introductions Rob Bruce, CP A, CA rob@robertbruce.ca Who uses the CPA Way in

  1. 30/05/2017 INTRODUCTION TO THE CP AWA Y JENNIFER REED, CPA, CA ROBERT BRUCE, CPA, CA Introductions Jennifer Reed, CP A, CA jreed@cpacanada.ca 1

  2. 30/05/2017 Introductions Rob Bruce, CP A, CA rob@robertbruce.ca Who uses the CPA Way in their classroom? 2

  3. 30/05/2017 How do you add value when faced with a complex problem? Knowledge Is Not Enough T echnical CP A Enabling Management Financial Strategy & Professional & Problem Solving Communication Accounting Reporting Governance Ethical Behaviour & Decision Making Teamwork & Finance Taxation Self ‐ Management Audit & Leadership Assurance 3

  4. 30/05/2017 THE CPA WAY A methodical approach Communicate for addressing Conclude professional and Advise problems Analyze Major Issue(s) Assess the Situation CP A Mindset THE CPA WAY Communicate Conclude and Advise Analyze Major Issue(s) Assess the Situation CP A Mindset 4

  5. 30/05/2017 Components of the CPA Mindset Rules of Professional Conduct Enabling Competencies Integration Rules of Professional Conduct Objectivity Integrity and Due Care Competence Confidentiality Professional Behaviour 5

  6. 30/05/2017 CPA Enabling Competencies Professional & Ethical Behaviour Problem ‐ Solving & Decision ‐ Making Communication T eamwork & Leadership Self ‐ Management Integration Enabling T echnical Situation 6

  7. 30/05/2017 CPA Mindset: Levels of Competency Level C Level B Level A • Memorize & • Identify CP A • Thoroughly Link Obey Rules Mindset Issues CP A Mindset to Situations • Partially Link • Understand CP A Mindset to T erminology • Exemplify CP A Situations Mindset THE CPA WAY Communicate Conclude and Advise Analyze Major Issue(s) Assess the Situation CP A Mindset 7

  8. 30/05/2017 Preliminary Landscape Picture Three Stages in Assessing the Situation Stage 3: Plan Route Stage 2: Zoom In Stage 1: T ake a Snapshot 8

  9. 30/05/2017 Stage1: Taking a Quick Snapshot Stage2: Zooming in on Details of the Situation Major Issue(s) and Alternatives Decision Maker Goals/ Objectives Other Stakeholder Needs/ Preferences Constraints Professional Resources Other Key Situational Factors Other Relevant Information 9

  10. 30/05/2017 Examples of Situational Assessment Techniques Financial Analysis Materiality Assessment Risk Assessment Internal Environmental Scan External Environmental Scan Stage3: Planning the Detailed Work Route Identify Major Issues Choose Sequence for Addressing Major Issues Gather Additional Situational Information 10

  11. 30/05/2017 THE CPA WAY Communicate Conclude and Advise Analyze Major Issue(s) Assess the Situation CP A Mindset Detailed Landscape Picture 11

  12. 30/05/2017 Elements of Analyzing an Issue C: Evaluate Information Quality B: Analyze Thoroughly A. Select & Apply Methods/T ools A. Select & Apply Technical Methods/Tools Management Finance Taxation Financial Strategy & Audit & Accounting Assurance Reporting Governance Quantitative Qualitative Correct Application RealisticAssumptions 12

  13. 30/05/2017 B: Analyze Thoroughly Integrate Situational Factors Integrate Across Competencies Retain Only Viable Alternatives Summarize Arguments Address Uncertainties C: Evaluate Information Quality, Including Sufficiency Information Source(s) Precision Key Assumptions Sensitivity Analysis Conflicting/Ambiguous Information Data Completeness, Validity, Reliability 13

  14. 30/05/2017 THE CPA WAY Communicate Conclude and Advise Analyze Major Issue(s) Assess the Situation CP A Mindset Stages for Concluding and Advising Stage 3 • Provide Implementation Stage 2 Advice • Establish and Use Decision Criteria Stage 1 • Interpret Results 14

  15. 30/05/2017 Stage 1: Interpret Results Implications and Additional General Insights Guideline and Interpretation Quantitative or Qualitative Results Stage 2: Establish and Use Decision Criteria One ViableConclusion More Than One Viable Conclusion CP A Values Versus Other Criteria 15

  16. 30/05/2017 Stage 3: Provide Advice for Implementation Limitations of Recommendations Issues to Investigate Further Implementation Sequence Action Plan(s) and Timelines Team Assignments Change Managementand Other Issues Resources Needed THE CPA WAY Conclude Communicate and Advise Analyze Major Issue(s) Assess the Situation CP A Mindset 16

  17. 30/05/2017 SuccessfulCommunication Professional Writing Writing Mechanics Professional Organization T one and Format Audience Conciseness Orientation and Clarity 17

  18. 30/05/2017 THE CPA WAY Communicate Conclude and Advise Analyze Major Issue(s) Application of the CP A Way ACTIVITY 1- CHANG ESLACADEMY 18

  19. 30/05/2017 Chang ESL Academy Communicate Conclude and Advise Analyze Major Issue(s) Instructions: 1. Open the Chang ESL Case PDF (in examples folder) 2. For 15 minutes- Read the case 3. How does the CPA Way apply to this case? We will apply the CPA Way to the case and a sample response. 19

  20. 30/05/2017 THE CPA WAY ‐ MINDSET Communicate Conclude and Advise Analyze Major Issue(s) Assess the Situation CP A Mindset THE CPA WAY ‐ ASSESS THE SITUATION Communicate Conclude and Advise Analyze Major Issue(s) Assess the Situation CP A Mindset 20

  21. 30/05/2017 Chang ESL ‐ Instructions: 1. Open the Chang ESL FR Sample response pdf. 2. Scan the response THE CPA WAY ‐ ANAL YZE THE ISSUES Communicate Conclude and Advise Analyze Major Issue(s) Assess the Situation CP A Mindset 21

  22. 30/05/2017 THE CPA WAY ‐ CONCLUDE AND ADIVSE Communicate Conclude and Advise Analyze Major Issue(s) Assess the Situation CP A Mindset THE CPA WAY ‐ COMMUNICATE Conclude Communicate and Advise Analyze Major Issue(s) Assess the Situation CP A Mindset 22

  23. 30/05/2017 Application of the CP A Way ACTIVITY 2- MOGEN FLOWERS Mogen Flowers Communicate Conclude and Advise Analyze Major Issue(s) 23

  24. 30/05/2017 Mogen Flowers ‐ Instructions 1. Open the Mogen Flowers (Example #2) narrative 2. In your groups, apply the CP A Way THE CPA WAY ‐ MINDSET Communicate Conclude and Advise Analyze Major Issue(s) Assess the Situation CP A Mindset 24

  25. 30/05/2017 THE CPA WAY ‐ ASSESS THE SITUATION Communicate Conclude and Advise Analyze Major Issue(s) Assess the Situation CP A Mindset THE CPA WAY ‐ ANAL YZE THE ISSUES Communicate Conclude and Advise Analyze Major Issue(s) Assess the Situation CP A Mindset 25

  26. 30/05/2017 THE CPA WAY ‐ CONCLUDE AND ADIVSE Communicate Conclude and Advise Analyze Major Issue(s) Assess the Situation CP A Mindset THE CPA WAY ‐ COMMUNICATE Conclude Communicate and Advise Analyze Major Issue(s) Assess the Situation CP A Mindset 26

  27. 30/05/2017 Application of the CP A Way EXAMPLE #3- MODERN FURNITURE Instructions: 1. Open the Modern Furniture Case PDF and the Modern Furniture Case Sample Response PDF 2. In your groups, assess the application of the CP A Way • Did the student properly asses the situation? • Was the analysis of the issue sufficient? • Did the student conclude and advise the client? • Did the student communicate effectively? 27

  28. 30/05/2017 Modern Furniture Communicate Conclude and Advise Analyze Major Issue(s) Assess the Situation CP A Mindset The CP AWay – Applied to group work 28

  29. 30/05/2017 TEAM CHALLENGE Communicate Conclude and Advise Analyze Major Issue(s) Conclusion: Knowledge Is Not Enough T echnical CP A Enabling Management Financial Strategy & Professional & Problem Solving Communication Accounting Reporting Governance Ethical Behaviour & Decision Making Teamwork & Finance Taxation Self ‐ Management Audit & Leadership Assurance 29

  30. 30/05/2017 Questions? Jennifer Reed, CP A, CA jreed@cpacanada.ca Communicate Conclude and Advise Rob Bruce, CP A, CA rob@robertbruce.ca Analyze Major Issue(s) Assess the Situation CP A Mindset 30

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