Financial Literacy


A survey by the AICPA and Weekly Reader Corp., an educational publisher, found that many “tweenagers”—children aged 9 to 12—have surprisingly prudent fiscal habits. Of the more than 1,200 youngsters polled in the January 2006 study, 56% earned a weekly allowance, but only 18% spent it all. More than half (53%) had savings accounts, and nearly as many (47%) did rudimentary budgeting. And almost a third (31%) said their parents discussed personal finance with them—a positive influence actively promoted by the Institute’s 360 Degrees of Financial Literacy campaign, which stresses the advantages of grasping economic fundamentals at an early age ( www.360financialliteracy.org/life+stages/childhood ). The AICPA and Weekly Reader have created a free educational program, Budget Buzz: Be Smart About Saving, to introduce financial concepts to fourth-grade students ( www.aicpa.org/financialliteracy/childhood.asp ).

PODCAST

What’s next for potential CPA licensure changes

A new model proposed by NASBA and the AICPA is designed with an eye on the future for newly licensed CPAs. The AICPA's Carl Mayes, CPA, provides background on the project and a look ahead to 2020.

VIDEO

What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.