accounting internships

Accounting Internships: What do Interns Do?

So, you’re looking forward to starting a career in accounting, right? Have you checked with the various accounting internships? In this article, we will describe an accounting internship job description and also the duties and responsibilities of an intern. The thing is, you must not necessarily be a professional before you read this post. You could learn a thing or two. As Confucius puts it, “To know what you know and what you do not know, that is true knowledge.” That being said, let’s dive straight into the subject matter.

Who is an intern? 

As it is with accounting internships, an intern is a trainee who works with a manager or those ahead of them to gain more work experience as they have decided to pursue a career. The intern could be an advanced student or a recent graduate in the same field. Furthermore, it could be for a short time, or the length may depend on the learning progress of the intern. 

Requirements To Be Accepted Into Accounting Internships

As it is with several fields, there are basic requirements that must be met before a person must be considered for accounting internships. 

First off, the person must have a bachelor’s or master’s degree in Accounting or Economics or any related field. Secondly, the person must demonstrate knowledge of principles, and laws, and have thorough mathematical skills. 

The person must also demonstrate competency in other fields such as well social and communication skills, problem-solving skills, ability to work under pressure and without supervision, etc. Furthermore, you must be teachable and demonstrate strong analytical skills too. 

What more? The person should demonstrate proficiency in computers. These are the basic requirements to be accepted as an intern. 

Intern Responsibilities

Below are the responsibilities of an intern; 

  • In accounting internships, an intern should help in data entry, filing, research, completing financial records, etc.
  • The intern should work with various company software, including the bookkeeping software. 
  • The intern would learn with others how to track information and analyze data relevant to company clients.
  • An intern would learn how to enter journal entries with Quickbooks. 
  • The intern would learn with time how to review tax documents. That is tax documents of clients and IRS. 
  • Over time, the intern will learn how to draft tax returns for individuals and corporations. 
  • Seek to resolve variances in foreign currency conversion. And also wire transfers and cash management. 
  • Do some bookkeeping activities such as entering payments and recording invoices for that. 
  • An intern should be able to write to clients and tax companies in cases of missing data or reports. 

These are some of the activities an intern is expected to perform in accounting internships. 

Are accounting internships paid jobs? 

We don’t have enough information as regards that. However, some organizations have a policy of paying everybody, workers or interns. Some don’t. For those who don’t pay, you may be offered a travel allowance. Whatever the case may be, you should ask the right questions before accepting to seal the deal. 

In summary, in accounting internships, an intern is supposed to gain experience in practice and learn skills that will assist their career!