Week 4 of Accounting Internship

            My specific duties in the organization are to assist in client accounting services. The services that I have provided include the formation of the statement, actual to budget variance review, cash management, and bank reconciliation. The control of cash was quite a hectic task because if anything goes wrong than the client can suffer from the financial loss. Moreover, all the details regarding the money have to be given to the client so that it can know about its cash and financial condition. I have assisted in cash management, and up till today no issue has ever raised regarding the management of funds. The portfolio of the client generates a significant amount of profit because the client has invested in many profitable real estate projects. The amount of gain is effectively managed and transferred to the client.

How can I improve? the Accounting Internship

        When the clients asked to invest in new projects and want to diversify the portfolio than the amount is spent on the client’s behalf and all the necessary information is given to the client. I assist in the preparation of a bank reconciliation statement as well. The bank reconciliation statement is prepared so that the amount that is recorded in the books of accounts and the amount that is recorded in the bank can be reconciled. The bank reconciliation statement of the client has been efficiently prepared so that clear financial information can be given.

        It is essential that the financial information is accurate so that tax amount does not disturb. In recent years the technology has become quite advanced, and organizations are implementing the latest system to improve their performance, reduce cost and increase their efficiency. Therefore it is essential that I will raise my knowledge with the passage of time.

Application for Future of Accounting Internship

        The activities that I have performed in internship has proved quite beneficial for improving my skills and abilities. I did not have any practical experience in the accounting field, and after working in the accounting field, I realize how accountants work and what skills are required. The most important thing that I have understood is that the required qualification is not the only thing that is important for an accountant. There are many other skills which are needed to become a proper accounting professional.

        The skills such as communication, time management, and data organizing are highly crucial for the accountant. Working as an accountant internee, I know the purpose of financial statements and what information they provide.  Through comments, the client will know whether its portfolio is generating profit or loss. If the collection is making a profit than it means that the client has taken a rational decision and have created a perfect group.

        To invest or expand the real estate portfolio of the client, it was essential to know how much resources the client has and what are the costs related to the investment. I have prepared the budget for the client which turn out to be very beneficial for the client.  Through statements, the client will know whether its portfolio is generating profit or loss. If the collection is making a profit than it means that the client has taken a rational decision and has created a perfect group.

        If the statements are showing loss than it means that the investor should restructure its portfolio so that damage can be mitigated. In the organization, my skills regarding financial reporting have enhanced up to a lot of, and now I can prepare statements with accuracy. My abilities to understand the economic data has also improved significantly.

References of Accounting Internship

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