The Association of Chartered Certified Accountants (ACCA), the global professional body for professional accountants, has launched a Financial Literacy programme to create awareness on how to manage one’s finances, which is an essential and critical life skill to develop. Amidst the ongoing COVID-19 crisis, the Financial Literacy programme has been conceptualised with the help of ACCA members in India. The programme will commence today (August 15, 2021).
With the recent educational initiatives outlined in the NEP by the Prime Minister of India, ACCA believes these measures will act as a true guiding force behind revolutionising the education sector in India. Keeping this blueprint in mind, ACCA India members have used their vast experience to create four detailed modules such as Evolution of Money, Banking, Growing My Money and Protecting My Money through which they aim to help children imbibe financial literacy as a critical life skill, which will act as a driving force aiming at overall public good.
Each of the four modules is delivered through fun, child-friendly characters such as Fefy (Financial Education for You) – a 16 year old girl from a village near Bangalore, and Mani, a robot gift that Fefy got from her uncle working in Bangalore. Mani shares its knowledge of finance with Fefy so that she can manage her money as she grows older.
With ACCA’s mission to give back to the community by developing future generations as responsible and independent citizens, this Financial Literacy programme will be made available for schools across the country, at no cost. The programme has been developed in alignment with the plans of both the state and central governments, along with the agenda of different ministries such as the Finance Ministry, the Ministry for Skill Development and the Ministry of Education.
Helen Brand OBE, Chief Executive, ACCA said: “We are so proud to have our India members support and advance ACCA’s purpose to be a force for public good and, through this literacy programme, teach school children valuable skills on how to manage their finances as they grow up. I’d like to pay a special tribute to all our members who shared their expertise to create this innovative programme, and to those members who are volunteering and giving freely of their time to visit schools to help the children learn. We look forward to engaging with young minds across the country to provide financial knowledge that will give them a lifelong skill.”
Md, Sajid Khan, Head of International Development, ACCA India said, “There is ample evidence to suggest that financially informed young adults are more responsible, make better consumers and can help their families and societies at large. A keen sense of finances helps people make good decisions that lay the foundation for a successful, abundant life. It is with this intent, ACCA members in India have developed the Financial Literacy programme for school children to help them develop their own future financial pathways.”
The ACCA Financial Literacy programme comprises unique features like Storytelling and mascots, where mascots will take students through a wonderful storytelling journey to teach them about finance. It includes fun activities throughout, and group learning exercises which will help children grasp the topics better. Children will learn through digital and animated content which is less text heavy.
Sumathi Mohnani, ACCA Member says, “The ACCA India Members gave generously of their time to create this programme as they strongly believe that when knowledge and understanding of basic finance management is inculcated from a young age, the decisions taken will improve the quality of their lives and the communities in which they live. We hope that this programme will encourage young people to participate in their family’s financial matters and work towards building a better future.”
The programme will also focus on behavioural changes which will make children excited about taking control of their lives. Children will be able to record their learning in a unique way to personalise their learning through Scrap book activities. This programme will get both teachers and children more engaged in classes as they are full of thought-provoking discussions and observation of the environment around them.
ACCA Members will be teaching the children wherever possible, helping ACCA long-term in contributing to the community.