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KSU Professor's Book Is Foundation for National Project
KENT, Ohio -- High personal bankruptcy rates, excessive credit card debts, low savings rates and inadequate planning for retirement and educational expenses are growing problems for many Americans. Financial Guidance for Every American, a book by Kent State University Associate Professor of Accounting Mark Altieri, will serve as the cornerstone for a major, nationwide initiative to improve personal competency in making major financial decisions.Major professional groups and financial institutions have created the Jumpstart Coalition for Personal Financial Literacy in response to these growing concerns, said Dr. Lawrence J. Marks, associate dean of the College of Business Administration and Graduate School of Management at Kent State. The American Institute of Certified Public Accountants has been at the forefront of the Jumpstart Coalition's efforts, and the AICPA recently announced the launch of its "360 Degrees of Financial Literacy" project.Altieri's book will serve as the curriculum for the project and will be available in a downloadable format on a consumer Web site focused on helping Americans find answers to money management problems, Marks noted. This Web site is currently being developed and is expected to be available inOctober.The information will also be available in a different format for continuing professional education for Certified Public Accountants."There is no question that there is a tremendous need to elevate the financial literacy of every American," said Marks. "Financial education should begin when people are young, and should continue throughout their lives. The 360 Degrees of Financial Literacy project could well be the most important educational initiative ever undertaken by the AICPA and the CPA profession." Altieri's book provides fundamental but directed guidance to those with no specialized education in tax planning, homeownership and financing, accumulating retirement wealth, educational savings, necessary legal protections and life insurance planning.Visit Kent State University: www.kent.edu "