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Teaching financial literacy in a co-curricular service-learning model

Author

Listed:
  • DeLaune, Laura D.
  • Rakow, Jessica S.
  • Rakow, K.C.

Abstract

The current economic environment has brought to light the financial literacy epidemic in this country. A lack of personal financial education has contributed to the increase in consumer credit debt, a trend evident for many college students who often have significant credit card debt. One way to combat this problem is through financial literacy education. This paper describes a service-learning project implemented through a Beta Alpha Psi chapter, which fulfills the educational objectives of the accounting curriculum and addresses an educational need. The project provides reciprocity of learning between members of Beta Alpha Psi and their audience, college underclassmen. The results indicate that the project is successful in educating both presenters and audience members on basic financial knowledge as well as developing technical and communication skills of Beta Alpha Psi members. The project outline presented in this paper provides a framework for others to use.

Suggested Citation

  • DeLaune, Laura D. & Rakow, Jessica S. & Rakow, K.C., 2010. "Teaching financial literacy in a co-curricular service-learning model," Journal of Accounting Education, Elsevier, vol. 28(2), pages 103-113.
    • Handle: RePEc:eee:joaced:v:28:y:2010:i:2:p:103-113
    DOI: 10.1016/j.jaccedu.2011.03.002
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    References listed on IDEAS

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    1. Ken Mcphail, 2005. "Care in the community: Professional Ethics and the paradox of pro bono," Accounting Education, Taylor & Francis Journals, vol. 14(2), pages 213-227.
    2. C. David Strupeck & Donna Whitten, 2004. "Accounting service-learning experiences and the IRS volunteer income tax assistance programme: a teaching note," Accounting Education, Taylor & Francis Journals, vol. 13(1), pages 101-112.
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    Citations

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    Cited by:

    1. Kwee Kim Peong, 2019. "Determinants of Personal Financial Literacy among Young Adults in Malaysian Accounting Firms," GATR Journals gjbssr524, Global Academy of Training and Research (GATR) Enterprise.
    2. Lee, W. Eric & Perdana, Arif, 2023. "Effects of experiential service learning in improving community engagement perception, sustainability awareness, and data analytics competency," Journal of Accounting Education, Elsevier, vol. 62(C).
    3. Schicks, Jessica, 2014. "Over-Indebtedness in Microfinance – An Empirical Analysis of Related Factors on the Borrower Level," World Development, Elsevier, vol. 54(C), pages 301-324.
    4. Apostolou, Barbara & Dorminey, Jack W. & Hassell, John M. & Watson, Stephanie F., 2013. "Accounting education literature review (2010–2012)," Journal of Accounting Education, Elsevier, vol. 31(2), pages 107-161.
    5. Gerrans, Paul, 2021. "Undergraduate student financial education interventions: Medium term evidence of retention, decay, and confidence in financial literacy," Pacific-Basin Finance Journal, Elsevier, vol. 67(C).
    6. Butler, Maureen G. & Church, Kimberly S. & Spencer, Angela Wheeler, 2019. "Do, reflect, think, apply: Experiential education in accounting," Journal of Accounting Education, Elsevier, vol. 48(C), pages 12-21.

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