Effective Strategies Utilizing Street-Smart Wealth to Bridge the Educational Poverty Gap in Accounting Education in the United States

Abstract

Educational poverty refers to the lack of access to quality education, which can perpetuate socioeconomic disparities. Street-smart wealth refers to the knowledge, skills, and experiences gained outside formal educational settings. Evidence is presented which shows the specific strategies and practices that educational institutions and policymakers can implement to bridge the educational poverty gap. The findings emphasize the importance of recognizing and valuing street-smart wealth as a valuable resource in accounting education. They represent another step toward integrating street-smart wealth into accounting education can enhance students’ learning experiences, improve their understanding of real-world applications of accounting concepts, and increase their employability in accounting. The study concludes by providing recommendations for accounting educators and policymakers, which may contribute toward reducing the educational poverty gap in the United States. By implementing the proposed strategies to effectively utilize street-smart wealth in accounting education, the study aims to contribute to developing inclusive and equitable accounting education, ensuring that individuals from all backgrounds have equal opportunities to succeed in the accounting profession and contribute to economic growth.