CPAs across Ohio teach elementary students the benefits of investing and saving on Accounting for Kids® Day
11.05.2009 – (COLUMBUS) On Nov. 12, CPAs and volunteers across Ohio will head into more than 400 elementary classrooms to introduce students to real world investing and savings principles on Accounting for Kids® Day.
It’s a lesson that’s become more important during the last year as the recession has taken its toll on Americans’ personal finances.
In a 2008 VISA survey, 85 percent of parents said they talk to their child regularly about money management.*
Accounting for Kids Day, now in its ninth year, takes the concept of saving to a higher level, teaching 4th through 6th graders skills that will help them grow into smart consumers and future business leaders.
The centerpiece of the program is a high stakes investment game in which CPAs lead students in buying, selling and tracking their stock’s progress over a simulated 10-year period. As in real life, they experience the ups and downs of the market and learn how dividends can change with the roll of the dice.
This teaches them the benefits of investing and how to manage financial risk.
“Accounting for Kids Day is a hands-on learning experience that teaches kids important financial basics,” said Peter Margaritis, CPA, Chair-elect of OSCPA’s Executive Board and Accounting for Kids volunteer. "The kids get really excited watching their investments grow.”
In another study by Capital One, 50 percent of teens expressed an interest in learning about managing money, while 76 percent wanted to know the basics of finance to help them make better financial decisions later in life.**
Accounting for Kids Day was founded in Cincinnati nine years ago by Crystal Faulkner, CPA, of Cooney Faulkner & Stevens, LLC. Each year Faulkner and volunteers present the program throughout Cincinnati public schools. The Ohio Society of CPAs presents the program statewide.
It is funded by The Ohio CPA Foundation, the charitable affiliate of The Ohio Society of CPAs.
Visit The Ohio Society’s online newsroom to see the full Accounting for Kids Day Media Kit or find a participating school in your area.
The The Ohio CPA Foundation, is a 501(c)(3) organization that funds programs to educate Ohioans on how to better manage their finances. It also supports initiatives that introduce students to CPA career opportunities.
The Ohio Society of CPAs, established in 1908, represents more than 23,000 CPAs in business, education, government and public accounting. The Ohio Society’s members not only meet statutory and regulatory requirements as CPAs, but also embrace the highest standards of professional and ethical performance. This is achieved through ongoing professional education, comprehensive quality review and compliance with a strict Code of Professional Conduct.
*2008 VIA survey, “Most Parents Talk to Their Kids About Using Money Wisely”.
**2008 Capital One annual back-to-school survey.
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- Many Ohioans are experiencing personal finance stress due to the economic crisis.
- Teaching kids how to manage money early in life may help them grow into savvy consumers and future business leaders.
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- Hundreds of CPAs and volunteers will partner on Nov. 12 to present Accounting for Kids Day in elementary schools across Ohio.
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