CEO Compass - Spring 2021

by Ralph Albert Thomas, CPA (DC), CGMA | NJCPA CEO and Executive Director | April 21, 2021

Pivoting From a Year of COVID-19: The Great Accelerator

COVID-19 and its aftermath were certainly unprecedented. “The Pandemic’s Impact on NJCPA Members,” a feature article in the spring issue of New Jersey CPA Magazine, begins this way: “In a year like none other, some CPAs fared surprisingly well as they adapted to remote auditing, learning, hiring and everything in between. But for others, the pandemic took a toll that will not easily be forgotten and could take years to recover from.”

While New Jersey and the country suffered great economic loss, recovery is in sight. Spring always reminds us of new awakenings. In recent weeks, the combination of accelerated vaccine deployment and additional fiscal stimulus boosted expectations that the 2021 economy will produce the strongest growth in decades. Even the Garden State budget is swimming in cash.

While we continue to ponder when our most optimistic predictions will come to fruition, we must also come to grips with the unprecedented change that has occurred in the past 13 months and the realization that this “great acceleration” sped up the changes already underway.

As the Washington Post wrote back in December, “Some writers are already imagining the long-term impact of the pandemic on our culture, politics and economy, and they suggest that we may end up in much the same places where we were headed all along — except now we’ll get there faster, with less control over the landing and less time to prepare for life upon arrival.

To help our members deal with this accelerated change, we’ve transformed our keystone event into a virtual experience where New Jersey CPAs and accounting professionals can gather to exchange knowledge, resources, strategies, solutions and more.

The NJCPA Virtual Convention, June 15-18, will help you anticipate change, build resiliency and deliver more value. There are 29 sessions, including:

  • How to Spark Transformation in Your Business
  • Using Scenario Planning to Improve Financial Decision Making
  • Lease Accounting After COVID-19
  • Resources for Business Recovery and Growth
  • The Economy and Markets Post COVID
  • Transformational Leadership, Decision Making and Diversity, Equity & Inclusion

In closing, I want to thank you for being a member. Your support of our nearly 125-year-old organization does make a difference. Since last spring, our staff, leaders, volunteers and partners have been there to educate, inform, answer hard questions and unravel one complex issue after another. Your trust and support helped our organization not just survive but thrive.

In fact, your membership is a guiding light that reminds us the value of our work, why we do what we do and who we do it for — you, our members.

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