The workbook is just 12 pages long, but that is long enough to guide the user from basic accounting definitions to drawing up a trial balance. It might not be enough to run a multinational organisation on – or even a corner shop for all that matter. But it is not really meant to be. It is designed to be a teaser, a way to encourage children aged 12 or 13 to realise that accounting is a useful tool to have when they grow up, whether they open up their own business, work in a family firm, or run their home.
Nurturing Accounting Talent: Introductory Notes was written by auditor Fiona Borg as part of an EY corporate social responsibility project.
EY has set up two pilot programmes at the Żejtun secondary girls’ school and at Verdala boys school, providing around 10 90-minute sessions on basic accounting.
“We wanted to awaken an appetite for the subject, which is to be reintroduced into state schools next September after an absence of 25 years,” EY human resources manager Michael Mifsud said.
The response has been very positive: 15 boys and 27 girls have signed up for the sessions, giving up their break time to attend. The schools for the pilot project were chosen after discussions with Education Minister Evarist Bartolo – but word of the project spread and he has been inundated with requests from other schools.
“There has been a huge amount of interest and it is possible that we will consider extending the programme,” he said.
The Year 2s were chosen so that they could be given a taster of the subject before they have to choose the Matsec options in Year 3.
“The idea is not to teach them accounting but just to show them what it is all about and to demystify it. There are no assignments and no exams,” she stressed.
“It is amazing to see how much they pick up; they know a lot more than we think! Many of them are already giving examples of how the terminology and rules are helping them to understand their family business, for example,” Ms Borg said.
“Some of them are attending because they realise that it is a very interesting career to pursue, while others think the subject would help them after school,” she said.
Mr Mifsud thinks that the reintroduction of the subject could not have come at a better time for the country, as there were not enough accountants to meet demand and firms were having to recruit foreigners.”
EY’s country managing partner Ronald Attard is understandably proud of the firm’s project.
“We are committed to doing our part in building a better working world, one which has increased trust and confidence in business, sustainable economic growth and the nurturing of talent. This is EY’s purpose and what makes us who we are,” he said.