Internship Overview: Mastering Core Accounting Skills

This internship offers students the opportunity to apply their classroom knowledge to real-world accounting challenges. The focus is on developing practical skills in key areas of financial management.

Focus Areas

1.    Financial Statement Preparation

• Compile accurate financial statements, including balance sheets, income statements, and cash flow statements.

2.    Financial Forecasting and Analysis

• Analyze financial data and create forecasts to support decision-making and improve future performance.

3.    Tax Compliance

• Calculate and prepare corporate, sales, and payroll tax reports in compliance with regulations.

Outcome

Students will gain hands-on experience, strengthen their accounting skills, and prepare for future roles by solving real-world financial problems.

What Are Students Expected to Complete?

Students will complete three deliverables to demonstrate their ability to address real-world accounting tasks:

1.    Financial Statements Package

• Task: Use software like QuickBooks, Xero, or Sage to prepare accurate financial statements. Supplement with Excel-based calculations.
• Deliverable: A finalized PDF package with detailed supporting schedules in Excel.

2.    Tax Compliance Reports

• Task: Calculate corporate, sales, and payroll taxes using tax software like TurboTax or other tools.
• Deliverable: PDF tax reports with Excel schedules for supporting calculations.

3.    Financial Forecast and Analysis Report

• Task: Build financial forecast models in Excel, analyzing trends and providing actionable recommendations.
• Deliverable: A written report (Word or PDF) summarizing findings, supported by Excel-based models.

Summary of Deliverables

• Financial Statements Package (PDF, with Excel schedules).
• Tax Compliance Reports (PDF, with Excel calculations).
• Financial Forecast and Analysis Report (Word/PDF, with Excel models).

These deliverables ensure students master essential accounting skills while using tools like Excel to enhance accuracy and data presentation.