2023 Presentation Summaries

PRESENTATION SUMMARIES AND LEARNING OBJECTIVES

​TULSA IMA CONFERENCE 

AUGUST 21ST AND 22ND, 2023

RENAISSANCE HOTEL

16 CPE

MONDAY, AUGUST 21

SESSION #1 8:10 TO 9:00 AM – RICHARD SHERIDAN "LEAD WITH JOY AND WATCH YOUR TEAM FLY"

Change is hard. To create a joyful workplace, you can’t continue to lead the way you’ve always led. In this talk, Rich explores his own journey to joy, focusing on how he had to learn to lead in a completely different way and, by doing so, witnessed results that exceeded his wildest expectations. In his talk, Rich applies the analogy of flight to the teams we lead. His message is simple: when we finally understand the relevant principles (in flight or in teams), we can fly to heights and distances that were previously unimaginable. But to get there, you, as a leader, will need to create change. Serious change. And you will need to undergo your own personal evolution as well. Drawing from his book Chief Joy Officer: How Great Leaders Elevate Human Energy and Eliminate Fear, Rich will share the personal and professional journey he has taken as a leader and invite you to join him at the vanguard of understanding what it takes to unleash the potential of the people who work for you and around you. He will explain how the longstanding and appalling disengagement statistics represent a fundamental failure of leadership and how you can reverse that trajectory in your own organization. Finally, Rich will discuss the simple, actionable things you can do to get your teams off the ground and flying. You will come away energized and inspired to start your own journey toward leading with joy tomorrow! And you will be firmly convinced that it is within your power to do so, no matter how big your organization or its longstanding culture.

LEARNING OBJECTIVES 

  1. The hardest place to start a joyful leadership journey is the easiest place to find ... inside yourself.

  2. You don't have to change THE world, start by changing YOUR world. Start where you are.

  3. Fight fear, Embrace Change - Run the Experiment

  4. Take action over taking a meeting.

  5. Become a storyteller. Storytelling is a fundamental act of leadership. Storytelling connects heart to mind, body to spirit, concept to reality. If culture eats strategy for breakfast, storytelling sets the table for the meal.

 

 

SESSION #2 9:15 TO 10:05 AM – JOHN PORTER “THE CFO’S POSITION IN A CHANGING ENERGY ENVIRONMENT”

John will discuss the challenges that are faced being a CFO of a large Energy company that's common stock is listed and traded on the New York Stock Exchange.  Williams is a highly regulated company that is very proud of its ESG efforts and Clean Air Initiatives. Williams handles approximately one third of the natural gas in the United States that is used every day to heat our homes, cook our food and generate our electricity.

LEARNING OBJECTIVES 

  1. The CFO's Involvement in releasing of SEC quarterly financial statements.

  2. What are some of Williams's major new Energy ventures.

  3. Williams Involvement pertaining to ESG standards.

 

 

SESSION #3 10:20 AM TO 11:10 PM – SHANE RANDOLPH “RISK MANAGEMENT AND DERIVATIVE REPORTING”

With the collapse of Silicon Valley Bank, there is an increased focus on business risks and the tools utilized to mitigate those risks.   We will explore common business risks, the fall of Silicon Valley Bank, the tools utilized to mitigate common risks, and the valuation and reporting requirements of those derivative instruments.

LEARNING OBJECTIVES 

  1. Define corporate risk management and strategies to mitigate risks

  2. Explain the valuation of common derivative instruments

  3. Outline the reporting requirements of derivative instruments

  4. Understand the pitfalls of many non-GAAP measure of financial performance

 


SESSION #4 11:20 AM TO 12:10 PM – RAFFAELA SOUZA & LYNLEY FOX “TECHNICAL ACCOUNTING UPDATE"

This session will include a technical accounting update, primarily highlighting recent accounting releases by the SEC and FASB Board for 2022 and 2023.  Also, a glimse into what might lie ahead for 2024 Technical accounting updates.

LEARNING OBJECTIVES 

  1. Learn about recent developments from the SEC and FASB Board.

  2. Understand how the developments may impact and financial reporting preparers.

  3. Learn about key trends on topical areas addressed by the SEC Staff and / or FASB Board.

 

 

SESSION #5 1:10 PM TO 2:00 PM – RANDY JOHNSTON “TECHNOLOGY UPDATE”

What are my best technology choices, and how do I keep up? Even informed accounting professionals will find multiple ideas they can apply daily. This visionary session provides insights, options, and recommendations to help you decide which technologies will affect your business and which will give you a competitive edge. Included in Tech Update are emerging and evolving technologies important to accounting professionals. We will cover the benefits and risks of adopting recent technologies, ranging from software applications to hardware devices. You will also learn how to develop a balanced technology strategy that includes current, emerging, and future technology choices for your firm or business.

LEARNING OBJECTIVES 

  1. Create strategic and tactical benefit lists of hardware and software options

  2. Evaluate current communications choices to improve your efficiency

  3. Identify key technologies to implement in your business and personal life

  4. List examples of emerging technologies that will affect the accounting profession

 

 

SESSION #6 2:10 PM TO 3:00 PM “A” – RICHARD SHERIDAN “FIRESIDE CHAT - Q&A”

This is a time for attendees to ask Richard Sheridan questions about his morning presentation.



SESSION #7 2:10 PM TO 3:00 PM “B” – RANDY JOHNSTON “K2’S BETTER REPORTING WITH POWER BI”

Virtually all business professionals seek to enhance and streamline their reporting processes. One of the best solutions for achieving this objective is Microsoft’s Power BI platform, and in this session, you will learn how to enhance your reporting processes using Power BI. 

Using Power BI, you can link financial and operational data into your reporting engine and create rich, interactive visualizations to summarize that data. Moreover, you can use Power BI to generate data analytics and share your results with your team. This session is “must see” for all who desire to improve their reporting processes and practices.

LEARNING OBJECTIVES

  1. List the steps necessary to link data into Power BI

  2. Identify examples of useful visualizations in Power BI

  3. Create reports and dashboards with Power BI

 

 

SESSION #8 2:10 PM TO 3:00 PM “C” – SHANE RANDOLPH “ARTIFICIAL INTELLIGENCE AND UTILIZING CHATBOTS IN ACCOUNTING”

The launch of ChatGBT by OpenAI put a renewed focus on artificial intelligence.  Governments and some of the world’s largest corporations are in an “AI Arms Race”.  We will play with live chatbots while reviewing the basics of AI and its different types, including machine learning and deep learning.   We will explore the potential benefits of AI to the field of accounting, such as increased efficiency and accuracy in decision-making processes along with potential pitfalls including privacy, bias, and the impact on the job market.

LEARNING OBJECTIVES 

  1. Understand the different types of artificial intelligence

  2. Explore chatbots and understand how to use them

  3. Discuss the benefits and pitfalls of the technology to the accounting profession

 

SESSION #9 3:10 TO 4:00 PM “A” – DR. CHRIS KUEHL “ENERGY IN 2023: TRENDS AND THREATS”

Thus far this year the watchword has been volatility. Prices falling as consumption waned and spiking due to geopolitics. Where are we now and what does the forecast look like as the year progresses. Is there a resumption of old patterns? Is there an end to the Russian sanctions? What impact does the China recovery have?

LEARNING OBJECTIVES 

  1. Understand the drivers for energy production globally

  2. Understand the drivers of energy consumption globally

  3. Understand the current energy environment and what to anticipate in the remainder of the year and into 2024

 

SESSION #10 3:10 TO 4:00 PM “B” – RANDY JOHNSTON “K2’S BETTER REPORTING WITH POWER BI - CONTINUE”

Virtually all business professionals seek to enhance and streamline their reporting processes. One of the best solutions for achieving this objective is Microsoft's Power BI platform, and in this session, you will learn how to enhance your reporting processes using Power BI.

Using Power BI, you can link financial and operational data into your reporting engine and create rich, interactive visualizations to summarize that data. Moreover, you can use Power BI to generate data analytics and share your results with your team. This session is “must see” for all who desire to improve their reporting processes and practices.

LEARNING OBJECTIVES

  1. List the steps necessary to link data into Power BI

  2. Identify examples of useful visualizations in Power BI

  3. Create reports and dashboards with Power BI

 

SESSION #11 3:10 TO 4:00 PM “C” – MICHAEL DEE CANNADY “RANSOMWARE”

This session will cover the following topics:

  • Recap Definition (Ransomware versus RansomOps)

  • News & Stats

  • Focus on Prevention - Gartner's 2021

  • New strategy to "design for Recovery Speed"

  • Investment Opportunities

LEARNING OBJECTIVES 

  1. What is Cyber Extortion and how does it work?

  2. What is the difference between Ransomware and RansomOps?

  3. What were Gartner's 2021 recommendations concerning Ransomware?

  4. What strategies facilitate the quickest system recovery from Ransomware?



SESSION #12 4:10 TO 5:00 PM  – DR. CHRIS KUEHL “ECONOMIC UPDATE: UPBEAT END OR EXTENDED DECLINE”

By this point in the year we will have some sense of how successful the Fed has been at controlling inflation. Did the jobless rate increase? Was there a GDP reaction? Has the Fed started to change course? Where is the consumer's attitude now?

LEARNING OBJECTIVES 

  1. Understand the situation with interest rates and its impact on inflation

  2. Understand the projections for GDP growth this year and next and 

  3. Understand the current situation as far as labor, supply chain and the other economic factors

  

TUESDAY, AUGUST 22

SESSION #13 8:10 TO 9:00 AM – JIM STOVALL “POVERTY TO PROSPERITY TO PURPOSE”

When we can see our work as a way to serve our clients, their families, and the community as a whole, we become true professionals with excellent conduct and performance. Purpose can never refer to ourselves. Our own success is a result of fulfilling our purpose to serve others. We can get everything we want or need in our personal or professional lives when we go to work each day with passion and purpose toward those we serve.

LEARNING OBJECTIVES 

  1. Purpose.

 

 

SESSION #14 9:15 TO 10:05 AM – JOHN IANNERELLI “ETHICS FOR THE WORKPLACE”

A company’s ethics determines its reputation. Good business ethics are essential for the long-term success of any organization and has an influence on all levels of the business, to include customers, employees, and even competitors. John shares behind the scenes FBI stories, such as the Enron collapse. The audience will receive valuable insights from situations where ethics were compromised causing the inevitable negative results, as well as positive ethical actions that led to business success.

LEARNING OBJECTIVES 

  1. Identify the skills necessary for the implementation of ethical practices.

  2. Learn to lead by example.

  3. Leverage employees to succeed through setting ethical standards for the workplace.



SESSION #15 10:20 TO 11:10 AM – JOHN IANNERELLI “ETHICS FOR THE WORKPLACE - CONTINUE”

A company’s ethics determines its reputation. Good business ethics are essential for the long-term success of any organization and has an influence on all levels of the business, to include customers, employees, and even competitors. John shares behind the scenes FBI stories, such as the Enron collapse. The audience will receive valuable insights from situations where ethics were compromised causing the inevitable negative results, as well as positive ethical actions that led to business success.

LEARNING OBJECTIVES 

  1. Identify the skills necessary for the implementation of ethical practices.

  2. Learn to lead by example.

  3. Leverage employees to succeed through setting ethical standards for the workplace.

 


SESSION #16 11:20 TO 12:10 PM – CHAD PRIEST “PREPARING AN ORGANIZATION/  COMMUNITY FOR A POTENTIAL DISASTER”

Climate change is a humanitarian crisis.  Every day, the American Red Cross sees the hartbreak of families and communities trying to cope with more intense storms, heavier rainfall, higher temperatures, stronger hurricanes and more devasting wildfires.  And for the vulnerable communities who are disproportionately impacted by the increased and virtually chronic frequency of these events, help cannot come soon enough.

Everyone knows the Red Cross helps people during emergencies.  But you may not know that it's also part of our mission to help you help yourself!  Becoming "Red Cross Ready" for an emergency means following simple steps to ensure you can weather a crisis safely and comfortably.  Being prepared may not prevent a disaster but it will give you some confidence to meet the challenge.

LEARNING OBJECTIVES 

  1. American Red Cross Ready training.

  2. Disaster Relief training.

  3. Preparing your workplace for emergency.

  4. How families can prepare for emergencies.



SESSION #17 1:10 PM TO 2:00 PM – MEL SCHWARTZ “EVOLVING SCENARIOS REGARDING FEDERAL TAX LEGISLATION”

This session will highlight some of the latest developments related to federal tax legislation, key IRS actions and judicial decisions and some of the more significant recent acts. Some of the recent federal tax legislation to be discussed will include:  1) the SECURE 2.0 ACT, enacted as part of the Consolidated Appropriations Act,2023, 2) in December 2022, the Inflation Reduction Act 3) the CHIPS and Science ACT, both enacted in August, 2022 and 4) the Infrastructure Investment and Jobs Act, enacted in November 2021.

LEARNING OBJECTIVES 

  1. Learn the details of how these pieces of enacted tax legislation has impacted companies and individuals.

  2. Identify key planning ideas for reducing taxes.

  3. Learn about key incentives your business may be able to tap into to improve your bottom line.

 


SESSION #18 2:10 PM TO 3:00 PM “A” – KERRY GORDON & COLETTE GAGNET “DEEPER DIVE INTO ENERGY SECTOR BUSINESS CREDITS AND INCENTIVES”

The Inflation Reduction Act of 2022, signed into law by President Biden on August 16,2022, includes $369 billion in spending and tax credits for climate and energy programs over 10 years.  The Act is a smaller version of the Build Back Better Act (BBBA) passed in the House of Representatives in November 2021, but it includes a number of the renewable energy tax provisions originally in the BBBA and remains the largest U.S. investment in greenhouse gas reduction to date.  This legislation amended the Internal Revenue Code to incentivize clean energy technologies in three ways: (1) by extending already existing tax credits while establishing a two-tiered credit structure; (2) creating a host of new tax credits; and (3) monetizing the tax credits. These tax credits and incentives represent potential cost savings of an order of magnitude not seen in the energy sector for decades.

LEARNING OBJECTIVES 

  1. The extension and expansion of the renewable electricity production tax credit (PTC) and energy tax credit (ETC);

  2. New "technology-neutral" clean electricity production and investment credits;

  3. A zero-emissions nuclear power production credit;

  4. A clean hydrogen production credit;

  5. Expansion of the credit for carbon capture and storage; and

  6. Energy Manufacturing credits.

 

SESSION #19 2:10 PM TO 3:00 PM “B” – SCOTT ALEXANDER “ARTIFICIAL INTELLIGENCE AND MACHINE LEARNING OPPORTUNITIES FOR FINANCE AND ACCOUNTING”

With the increasing pace of innovation in Artificial Intelligence (AI) and Machine Learning (ML) it will disrupt almost every aspect of the modern enterprise, including Finance & Accounting. In this session, we will explore some non-technical basic concepts of AI/ML, and some common use cases for F&A such as automation, forecasting, and other ideas. We will also discuss some considerations and provide a primer on how to get started on your own journey without breaking the bank.

LEARNING OBJECTIVES 

  1. Explore non-technical basic concepts of AI/ML

  2. Getting started on your own journey without breaking the bank

 


SESSION #20 2:10 PM TO 3:00 PM “C” – AL MARCIANTE “ORACLE FUSION CLOUD EPM STRATEGY ROADMAP”

This session explores in detail the overall strategy and solution delivery roadmap for Oracle Fusion Cloud EPM. The discussion covers all areas of EPM functionality including planning and budgeting, profitability and cost management, financial consolidation and close, Enterprise Data Management, and Reporting. We will also cover how artificial intelligence and machine learning capabilities are delivering big benefits to organizations in their Cloud EPM adoption.

LEARNING OBJECTIVES 

  1. Gain insight to the Strategy for Oracle Enterprise Performance Management (EPM)

  2. Learn about Oracle’s R&D investments in Cloud EPM business processes and technology.

  3. Understand how organizations are benefiting from adopting Cloud EPM features and capabilities.

  4. See the roadmaps for Cloud EPM platform and business processes.



SESSION #21 3:10 PM TO 4:00 PM “A” - BRANDON TACKETT “F P & A TRANSFORMATION LEADING PRACTICES”

Explore what makes a program transformational for FP&A and discuss current leading practices in this space. Understand how connecting people and process can supercharge any digital transformation. Plenty of Q&A and discussion is welcome!

LEARNING OBJECTIVES 

  1. Identify the difference between digital finance transformation, conversion and incremental improvement

  2. Understand the three current leading practices in planning transformation 

  3. Identify opportunities to leverage predictive capabilities in the FP&A process

 


SESSION #22 3:10 PM TO 4:00 PM “B” – JOHN IANNARELLI “CYBERSECURITY”

Why rob a bank when a criminal can steal far more while sitting in front of a computer? Beyond just money, the sensitive personal information of both employees and customers makes the accounting profession attractive to the cyber thief. Additionally, remote work technologies like Zoom, webinars, and mobile devices have provided cybercriminals with new ways to disrupt business and steal what is yours. Every year millions become victims because they did not know how to protect themselves from cybercrime. By using examples of actual FBI cases, John reveals the ways you are vulnerable to a cyberattack, the threats inherent with remote technologies, and how you can protect yourself.

LEARNING OBJECTIVES 

  1. Understand the latest cyber vulnerabilities.

  2. Learn how to avoid becoming a victim.

  3. Understand what to do if a cybercriminal does attack.

This presentation references Iannarelli’s books Disorderly Conduct and WTF: Why Teens Fail and What to Fix, a guide to keeping safe on the internet and elsewhere.



SESSION #23 3:10 PM TO 4:00 PM “C”– JANIS PARTHUN “ESG REPORTING & RISK MANAGEMENT - FROM THEORY TO PRACTICE"

There is significant market interest and investments around Environmental, Social, & Governance (ESG) efforts, which is generating a demand for organizations to report on ESG initiatives. And while reporting on the topic of ESG is not necessarily new, a wave of regulatory developments has intensified. As requirements and recommended approaches evolve, companies need to navigate new regulations and determine how to best put new concepts into practice. 

LEARNING OBJECTIVES 

  1. Introduce ESG reporting.

  2. Address the regulatory landscape.

  3. Provide best practices and approaches to manage risks associated with companies’ ESG programs.



SESSION #24 4:10 PM TO 5:00 PM – PHIL LAKIN “CRITICAL INITIATIVES FOR TULSA”

Some of the past critical initiatives that Phil has helped lead included the following:

  • Voter passage of capital packages titled "Improve Our Tulsa", "Vision Tulsa" and "Improve Our Tulsa 2."  Collectively, these packages dedicated $1.2 billion to streets and transportation.

  • Supported permanent funding for 160 additional police officers and 65 firefighters.

  • Built the dynamic Discovery Center Children's Museum.

  • Helped the city dedicate 70 million to bury ugly power lines, increase mowing cycles for medians and maintain highway lighting.

  • Invested in visionary projects to build a dam and lake in south Tulsa, create a brand new Gilcrease Museum and add fighter jet simulators to our National Guard Base.

  • Work to wider streets while being respectful to homeowners and neighborhood associations.

LEARNING OBJECTIVES 

Phil will discuss current and future critical initiatives for Tulsa such as "Improve Our Tulsa 2023", Conservation and sustainability plans, "Tulsa Welcoming Package," Mayor Bynum's 772 million package, etc.