10 Things I Wish I Knew Before My Accounting Internship
By Blake Hise, Nashville Chapter TSCPA Student Ambassador
You have attended a career fair, interviewed and received an internship offer from the firm of your choice. Congratulations! As your start date draws closer, you may find yourself wondering what the work will be like and how it will compare to the coursework at your university. I found myself in this situation and wanted to do everything possible to increase the likelihood of a successful experience.
With two tax internships under my belt and several lessons learned, I have 10 practical pieces of advice to help you walk in as prepared as possible and get the most out of your internship experience:
1. Acknowledge that the first week will be the most difficult
Regardless of where you intern or how well you have performed academically, I can almost guarantee you will be overwhelmed by the volume of information that will be introduced within the first few days. Accept in advance that you may have impostor syndrome for the first week, and remain confident that proficiency comes with time. This was most evident for me watching fellow interns that were almost in tears the first week become extremely confident by the end of the internship.
2. Learn to use an adding machine (10-key)
In an academic setting, you are probably accustomed to using a four-function calculator. Unless you have worked in an office before, there is little reason for you to be familiar with how to use a 10-key. The fundamental difference between the two lies in how numbers are entered. Calculators accept the mathematical function followed by the number. In contrast, 10-keys require you to enter a number, followed by the mathematical function. For example, if you want to subtract 500 from 1,000 with a 10-key, you would enter:
1,000 + 500 -
Most firms use 10-keys and include the resulting calculations in tax or audit workpapers. While you can learn how to use a 10-key upon starting your internship, it can only benefit you to become familiar in advance.
3. Commit Excel key commands to memory
Accounting firms are increasingly utilizing technology, many times in the form of tax software and Excel. It is highly likely that most of your time will be spent on a computer. Therefore, learning key commands in Windows, Word and Excel is one actionable way to both increase your workflow and impress your employer with quick turnaround. I frequently use (Ctrl + B) to bold text, (Ctrl + I) to italicize and (Alt +) to auto-sum a selection.
4. Find out to whom questions should be directed
Given the variety of assignments you will be exposed to, you will undoubtedly have several questions every day. In fact, asking questions is one of the most critical aspects of your internship. Seeking assistance is much easier when you can identify one familiar person to whom you can always go for help.
5. Batch your questions
Your reviewer is trying to complete multiple assignments on an urgent timeline. While you should never be afraid to ask questions, it is not advisable to disrupt your reviewer every five minutes. I found it best to complete everything I could on each assignment and write down all my questions for later. Once I reached a point where I could not proceed further without guidance, then I would ask for help. If you make a habit of batching your questions, your reviewer will greatly appreciate it.
6. Always ask if it is a good time for questions
Another great way to make your reviewer’s job easier is to ask if it is a good time for questions or if you should come back later. Do not expect this to be a mere formality, as many times, they really will need to get back with you later. Even if your reviewer tells you it is not necessary to ask this, showing respect for their time in this way becomes more necessary as they approach deadlines.
7. Always attend social events
Attending every social event can be exhausting for those of us who are introverted, but participating in these events allows you to build rapport with other professionals in the office. Make your mind up in advance to say “yes” to any invitations to grab coffee or go to lunch. Aside from demonstrating your technical skill in accounting, one of the chief aims of the internship is to convince the partners and supervisors that they want to work with you for 8-10 hours a day. Participating in social events is a great way to make a positive impression in this regard.
8. Work quickly but not recklessly
In academia, you generally have days to complete your assignments. During a busy season in public accounting, your hours are billed out to clients. This, of course, does not mean that you should work recklessly, but it does mean that you should be ready to exercise strong time management skills.
9. Do not be afraid of constructive criticism
Whether you complete a tax return, audit or some other kind of assignment, a reviewer will check your work and let you know which parts were incorrect. Reviewers expect you to make mistakes. That said, make a written note of these corrections and ask for further explanation if you do not understand what they mean. Only when you make the same mistake multiple times will it begin reflecting poorly on your job performance.
10. Objectively reflect on your experience during the internship
Be sure to take the time to reflect on your experience. Would you want to come back next year or even accept a full-time offer? Were your strengths and personality a good fit for the firm’s culture? Internships are a great time to both discover which niche in accounting suits your interests and learn from professionals who have extensive experience in the accounting profession.
Best of luck!