Accounting Internships To Apply For
Finding an accounting internship can be challenging especially while you are young and don’t have a lot of experience. This article is mean't to help you find the right accounting internship for you.
Posted July 10, 2024
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There are several different types of accounting internships. This article is meant to inform you of the different types of internships and help you know where to apply for them. Internships are super important to have on your resume if you are wanting to recruit for a full time offer. Several companies like to bring on interns to see if they are a good fit for the company before extending a return offer. This is why securing an internship and crushing it is super crucial.
Types of Accounting Internships
Here are the different types of entry level accounting internships you can apply for. Obviously you may not get the exact perfect job that you are hoping for on your first internship.
Public Accounting Internships are often with the big players – think Deloitte, PwC, KPMG, and Ernst & Young (the "Big Four"). You might work on audits, taxes, or advisory services.
Private Accounting Internships Here, you'd be working in the accounting department of a specific company. It could be anything from a tech startup to a Fortune 500 company. Find a company that you think is interesting and try to get your foot in the door. One way I have seen people find opportunities is by reaching out to companies that their parents work or where other people they know work at. LinkedIn is a great place to connect with people at these companies.
Government Accounting Intern Uncle Sam needs lots of accountants. These internships might be with federal, state, or local government agencies. Find them on your state website or get in contact with someone in the local government.
Non-Profit Accounting Intern If you want to use your number skills for good, non-profit organizations offer great opportunities to make a difference.
Top Accounting Internships to Apply for
Deloitte Tax Consultant Internship - Very respected and sought after internship. Will definitely help you develop as an accountant.
PwC Accounting Audit Internship - One of the big four internships. If you are in your junior year, this would be a great summer internship. Could lead to full time employment.
Ernst & Young Accounting Internship - Another big four internship. Interns are given big tasks and could lead to full time employment. Responsibilities would vary. EY runs one of the best programs out there.
KPMG Audit Accounting Internship - Immerse yourself in the audit process from planning to execution. This is a fantastic senior year internship.
Grant Thornton Audit Associate Internship - Experience a mid-size firm environment while working on diverse client portfolios.
BDO USA Tax Internship - Focus on tax preparation and planning for individuals and businesses. Learn about the latest tax laws and regulations.
RSM US LLP Assurance Internship - Get involved in all aspects of the audit process in this hands-on program.
Crowe LLP Risk Consulting Internship - Dive into the world of risk management and internal auditing.
Baker Tilly Advisory Internship - Research the consulting side of accounting. Participate in diverse projects ranging from mergers and acquisitions to business process improvement.
Moss Adams Business Assurance Internship - Experience the unique culture of a large regional firm.
What You'll Do As an Intern
Your day-to-day will look similar to this:
Data Entry and Analysis: you will become very familiar with Excel! You'll likely be inputting data and helping to analyze financial information.
Assisting with Audits: If you're in public accounting, you might help with the auditing process, checking financial statements for accuracy. If you are looking for a private company you will likely conduct several internal audits.
Tax Preparation: tax season is a busy time for accountants, and interns often help prepare tax returns for individuals or businesses.
Financial Report Preparation and Bookkeeping: you might assist in creating financial reports, giving you insight into how companies communicate their financial position. Many interns start with basic bookkeeping tasks, recording transactions and reconciling accounts.
When to Start Looking For Opportunities
Fall Internships: Start looking in the spring or early summer. These often run during the fall semester.
Spring Internships: Start looking in the fall. These typically coincide with the spring semester and can be busy with tax season work.
Summer Internships: These are often the most competitive. Start looking in the fall of the previous year.
Year-Round Internships: Some companies offer flexible, part-time internships that you can do alongside your studies. These can pop up at any time, I usually see these on LinkedIn so be active there.
Where to Find Internships
Your University's Career Center: This should be your first stop. They often have exclusive listings and relationships with employers. Your university will have opportunities but remember they are not the only ones you should apply for.
Job Boards Websites: Like Indeed and LinkedIn often list internships alongside full-time positions.
Company Websites: If there's a specific company you're interested in, check their careers page directly or reach out to someone on LinkedIn that works for them. Cold reach out is a good way to get your foot in the door because you separate yourself from all the typical applicants.
Professional Accounting Organizations: Groups like the American Institute of CPAs (AICPA) often have job boards or resources for students.
Networking Events: Don't underestimate the power of face-to-face interactions! Attend career fairs and networking events.
Social Media: Follow accounting firms and professional organizations on social media. They often post about opportunities. LinkedIn is a great place to find people to employ you. Employers are always looking for top talent and if you can show them through your LinkedIn that you are talented, they might even reach out to you for an opportunity. Reddit can also be a good place to seek advice from people. Finding Reddit communities where there are several people similar to you can help you find out about cool opportunities throughout the world.
Making Your Application Stand Out
Tailor Your Resume: Highlight relevant coursework, any accounting software you're familiar with, and any relevant experience (even if it's not directly in accounting).
Write a Standout Cover Letter: Use this to show your passion for accounting and why you're interested in that specific internship. If you've got any certifications or have completed relevant projects, make sure to mention them.
Get a Referral: If you know anyone that works at that specific company, asking for a referral can go a long way. Several internships only look at people who have referrals.
The Interview Process
Phone Screening: This is often the first step. Be prepared to talk about your background and interest in the position.
In-Person or Video Interview: You'll likely meet with HR representatives and potentially some of the accounting team. They'll ask about your skills, experiences, and career goals.
Technical Questions/Behavioral Questions: Don't be surprised if they throw some basic accounting questions your way. They'll want to know how you handle different situations. Have some examples ready of times you've shown leadership, teamwork, or problem-solving skills.
Questions for Them: Remember, an interview is a two-way street. Have some questions prepared about the internship and the company. Show them you will improve the culture.
Making the Most of Your Internship
Crushing your internship is super important to getting a return offer/having a good relationship with the company. Here are some tips:
Be Proactive: Don't wait for tasks to be assigned. Find out how you can be useful and get work done. The best interns are creative and find a way to have an impact. If you don’t want to get stuck doing the mundane tasks, come up with a way to be useful and move the needle for your company.
Ask Questions and Seek Feedback: If you don't understand something, ask! It's better to ask for clarification than to make mistakes. Get to know people in different departments. You never know where these connections might lead. Regular check-ins with your supervisor can help you improve and show your commitment. Take advantage of any training or learning opportunities offered.
The Benefits of Accounting Internships
If you are unsure you even want to do accounting, here are some major benefits of accounting internships:
Accounting is one of the most important skills in business. Every company needs accountants and having experience in this industry will always benefit you in whatever segment of business you are in. Some of the best investors were trained as accountants and understand accounting principles.
Career Clarity: An internship can help you decide if accounting is really the right path for you and if it's not you will come away with new skills
Networking Opportunities/ Resume Booster: You'll meet professionals in the field who can offer advice and potentially job opportunities down the line.Having an internship on your resume can make you stand out to future employers.
Potential Job Offers/Skills: Many companies use internships as a pipeline for full-time hires. Impress them, and you might have a job waiting for you after graduation. You'll develop both technical key skills and soft skills like communication and time management.
Challenges of These Internships
Let's be real – internships aren't always as going to college football games/studying in the library with your friends. They are sometimes boring. Here are some challenges you might encounter and how to handle them:
Information Overload: There's a lot to learn in accounting. Take good notes and don't be afraid to ask for clarification. Asking questions is super important as an intern. They can’t expect you to know everything, but also do your best to dig into things and figure them out by yourself.
Balancing Work and Study: If you're interning during the school year, time management becomes crucial. Use a planner and prioritize your tasks. Be sure to communicate with your employer far in advance if you are going to have to take time off for a busy school week or vacation.
Mundane Tasks: Sometimes, interns get the less exciting jobs. Remember, even small tasks contribute to the bigger picture.
Everyone loves the intern that can own his/her mistakes and then improve from them. If you feel out of place remember that it's normal to feel a bit uncomfortable at first. Give yourself time to adjust and remember that everyone was new once.
Remember, an internship is what you make of it. It's your chance to learn, grow, and start building your professional network. Sure, it might be challenging at times, but the experience you gain is invaluable. I also believe that finding internships is up to you. There are several things that you can do to help your chances of finding opportunities. Find a coach on joinleland.com to help your chances. Working with a coach will give you a leg up on other applicants.