ACCA & Pace
University
“Finance &
Money App”
ACCA (the Association of Chartered Certified Accountants)
Founded in 1904, ACCA is the
global body for financial and
accounting professionals, with
over 170,000 members and
436,000 students in 180
countries.
www.accaglobal.com
The ACCA Qualification provides
an entire understanding across
both the management and
financial accounting disciplines. It
includes tax and audit, which
means that our finance
professionals are best placed to
support business change, growth
and efficiency because they have
a complete understanding.
©ACCA
Finance & Money 101
 Budgeting Basics
 Tax Preparation
 Stock Investment
 Retirement Planning
©ACCA
Budgeting Basics
 A budget is nothing more than a breakdown and plan of how
much money you have coming in and going out
 First step in creating a budget is to track your income.
 Second step is to track your expenses.
 Now that we now what comes in and goes out, we know
how much is remaining. A positive number is great while a
negative number suggests that we need to figure out how to
cut costs or increase income.
©ACCA
Tax Preparation
“In this world nothing can be said to be certain,
except death and taxes.”
Benjamin Franklin
©ACCA
Tax Preparation
 Taxes are mandatory contributions to the city, state and
country that you live in.
 Taxes are complicated and every year, Americans overpay
the government about $400.
 Staying organized is the most important thing a tax payer
can do every year. This means saving:
 Government confirmation of your return & refund
 Receipts of charitable donations
 Large medical or dental bills
 Records of business or job hunting costs
 Forms from your job showing income you’ve made
 Purchases, sales, and improvements to real estate
property
©ACCA
 All actions in your investment & IRA accounts
Stock Investment
 Stocks represent ownership in a corporation that entitles
you to part of that corporation’s earnings and assets.
 Some people prefer to buy individual stocks in a company
 Some people prefer to buy shares in a mutual fund which
represents diversification and spreads the risk out
©ACCA
Retirement Planning
 401k – retirement account from employer
 Pension – fund into which money is added during an
individual’s employment years
 IRA – many different versions but the most popular is when
contributions are tax-deductible
©ACCA
Potential Apps & Features
Many resources in
the marketplace
Mint
Excel
Quickbooks
TurboTax/H&R Block
CPA
What challenges do we face?
Are these the right solutions for a senior
population?
Are they easy to use?
Are they in the right language?
Is text large enough?
Is there a way to assist a senior throughout
the year to organize and prepare for one of
the topics we covered?
©ACCA
Feedback from Around the Globe
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Provide prompts when bills are due
Creative ways to access (pictures, fingerprint, etc.)
Voice option for visually impaired
Ability send screenshot to son/daughter
No jargon (pay bill, check balance, etc.)
©ACCA
Questions?
warner.johnston@accaglobal.com
ruth.fasoldt@accaglobal.com
©ACCA