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Accounting

Functional Areas

Potential responsibility and breakdown of tasks presented under various functional areas of accounting.

  • Compilation and review services
  • Tax preparation and planning
  • Audit planning and analytical procedures, including work paper preparation
  • Study clients' internal control structure
  • Audit sales and collection cycle: accounts receivable
  • Audit sampling - tests of transactions
  • Audit payroll, cash balances, inventory and purchasing
  • Review for contingent liabilities, subsequent events and completing the audit
  • Prepare financial statements and management reports and analysis
  • Analyze financial statements; research stocks and portfolio options and industry-specific information used in investments
  • Contribute to the preparation of tax returns and electronic filing; review and submit completed tax returns; perform technical research and distribute tax forms and publications
  • Prepare operating budgets, capital budgets and related forecasts and conduct payroll analysis
  • Assist in cost control and performance measurement of decentralized operations and product-costing activities
  • Collaborate with financial analysts to develop user-friendly model to evaluate financial health of the organization's various clients
  • Read and understand financial data from external auditors' reports and federal form 990 filings and enter selected data into software

Sample Accounting Internship

Profile
 Company A is known for outstanding hospitality, food and retail services and attention to delivering an unmatched customer experience. As one of the world's leading hospitality and food service providers, we have established each of our core businesses as leaders in their respective industries.

Intern's Title
 General Accounting Intern

Main Project Responsibilities
 An intern would be involved in the preparation of monthly percentage and prepaid rents per client contracts, assist in analysis and reconciliation of accrued rent expense accounts and other general ledger accounts, resolve discrepancies via journal entries, participate in coordination and distribution of weekly operating results to management, and occasionally will participate in probing and resolving variances.

Additional Responsibilities
 Participate in our Client Contract Synopsis File project and assist in performing other special projects and analyses of operational and financial results on a self-generating basis or at management request, including developing computer models.

Desired Skills and Knowledge

  • Education: BS in Accounting – Junior or Senior level standing
  • Concentration(s) of study: Accounting
  • Technical Skills: Microsoft Office (Word, PowerPoint, Excel and Access)
  • Knowledge of accounting functions and principals
  • Strong attention to detail and highly developed analytical skills
  • Ability to work independently and exercise good judgment

Learning Objectives

  • Develop strong knowledge basis and familiarity with specific accounting procedures involved in a corporate environment
  • Increase analytical and troubleshooting skills
  • Gain experience with the processes and background of financial accounting decisions
  • Leadership skills: self-management, problem solving and integrity

Logistics

  • Intern will work 10-15 hours per week. Schedule is flexible based on class schedule. Minimum requirement of 150 hours expected during the internship.
  • Compensation: Paid position, $20/hr.