Intern Insight January 17, 2014
Hello all! My name is Kevin Giambri. Some of you may have read my posts in the past. It has been some time since my last post but this time we pick up as busy season begins. As we stand, I am entering my last semester of post-graduate school. Enrolled in Philadelphia University I plan to graduate this May with an MBA degree and a concentration in accounting. With aims to join the profession after graduation, I plan to learn as much as possible to ready myself for full time employment come May.
Monday was the first day the firm operated with late hours this year. My shift this day was from 2:00pm-9:00pm but when I walked into the office that afternoon expecting to see a packed house, the desks were not as crowded as I thought they would be for a day like this. After I checked in to my desk I met with one of the partners I had been working with for the past week to see what I would be working on today. I was given a clients bank statements and a copy of their check register. What I now had to do was reconcile the checkbook with the bank statement to be able to break down their cash flow. This was just step one of the tax return process. Even though this was just a small return it was something that I would be able to see all the way through from given a bank statement to filing a form 1065 (the federal return for a partnership).
Around 6:00pm my co-workers start rolling in. They were all out of the office doing fieldwork. During the audit/attestation process, accountants are required to go out to the client’s place of business to gather the information needed to conduct the proper attestation service previously agreed upon. Most of our client’s businesses close their doors around 5:30 so the engagement teams head back to the office to process the information they gathered on the field that day.
Wednesday is somewhat of a longer day for me as a student/intern. This is the last first day of class at the university level for the rest of my life. Today I have a night class after working an 8-hour shift. I will say that I’m pretty excited about this day because I’ll get a chance to meet up with some familiar faces around campus and I’ll be putting in a full days work on top of that.
Today I have a meeting with the partner mentioned above, this meeting serves partly as a progress check. Something I have noticed over my time here at Stephano Slack is their availability they create for the younger workers. Regardless of the job position separation here everybody around the office is ready to set the time aside or lend a hand wherever they can. I’m not exactly sure how it works at other firms but I’m lead to believe it would be a lot tougher than it is here to have a one on one with a partner as an intern.
I go on with my work making progress on the partnership tax return. This day is mostly consumed with work on the return and some side work for another client. What I was asked to do was make journal entries for a client on QuickBooks. For most of our clients we have QuickBooks files, a software we use for making journal entries, preparing financial statements, and a load of other features. It’s important to stay busy; you’re going to come to a point in the process where you’re waiting for one missing item to go any further with the project at hand.
As 5:30 nears, I start to feel anticipation for class tonight. This feeling of first day jitters has been with me for as long as I could remember but this one meant a little more for me. The last semester of my college career starts tonight.
And so another week down and only one week into busy season. Until next time…