Accounting internships are competitive, but they’re also incredibly rewarding. If you’re serious about a career in accounting, read this article to get 10 tips to help you stand out from the competition.
Accounting is a dynamic and growing field, and there’s no better way to prepare for a career in accounting than with an internship. An internship for accountant will give you the opportunity to gain valuable experience, learn from the best, and make connections in the industry.
So, let look go through what you can do to stand out and secure an accounting internship. We’ll also explore other key details like accounting internship roles and responsibilities, what are the accounting internship skills you need, accounting internship salaries paid in India, and whether you need accounting experience before applying for internships.
10 Tips to Get an Internship in Accounting
Here are 10 tips to help you get accounting internships in 2024:
Start Your Search Early
The best internships tend to fill up quickly, so it’s important to start your search early. Begin by researching different accounting firms and companies in your area to see what internships they offer. You can also reach out to your professors and career counsellors for advice and referrals.
Tailor Your Resume and Cover Letter to Each Internship
Don’t just submit a generic resume and cover letter to every internship you apply for. Take the time to tailor your materials to each specific internship, highlighting your skills and experience that are relevant to the position.
Here are some examples of specific skills and experience that you can highlight on your resume and cover letter for an accounting internship:
Technical accounting skills:
Experience with preparing financial statements, such as balance sheets, income statements, and cash flow statements
Experience with performing audits, such as testing internal controls and reconciling accounts
Experience with reconciling accounts, such as bank accounts and accounts receivable and payable
Experience with specific accounting software programs, such as QuickBooks or SAP
Knowledge of industry-specific accounting regulations and best practices
Soft skills:
- Excellent communication and interpersonal skills
- Ability to work independently and as part of a team
- Strong problem-solving and analytical skills
- Attention to detail and accuracy
- Organisational and time management skills
Software Skills for an Accounting Internship
The following software skills are important to know for an accounting internship:
Microsoft Excel: Excel is a powerful spreadsheet program that is used by accountants for a variety of tasks, including data entry, financial analysis, and reporting.
Accounting software: There are many different accounting software programs available, such as QuickBooks, Xero, and Sage. Employers will typically specify which accounting software program they use in the internship posting.
Cloud computing: Cloud computing is becoming increasingly popular in the accounting profession. Employers may use cloud-based accounting software or other cloud-based applications, such as Google Drive or Dropbox.
Practice Your Interviewing Sills
Once you start getting interviews, it’s important to be prepared. Practice answering common interview questions and be able to articulate your skills and experience in a clear and concise way.
Here are a few common interview questions and themes that you can expect for an accounting internship:
Technical accounting questions: These questions are designed to assess your knowledge of accounting principles and procedures. For example, you may be asked to explain the difference between a debit and a credit, or to describe the steps involved in performing an audit.
Soft skills questions: These questions are designed to assess your communication, teamwork, problem-solving, and other soft skills. For example, you may be asked to describe a time when you had to work as part of a team to solve a problem, or to give an example of a time when you went above and beyond your job duties.
Behavioural questions: These questions are designed to assess your personality and how you would fit in with the company culture. For example, you may be asked to tell a story about a time when you had to deal with a difficult customer, or to describe your ideal work environment.
Network with Professionals in the Field
One of the best ways to find out about accounting internships is to network with professionals in the field. Attend industry events, reach out to alumni from your school, and connect with people on LinkedIn.
Here are a couple of industry events in India aspiring finance interns can attend to boost their prospects of securing an internship:
Finance and Accounting Expo (FAE): This is one of India’s largest finance and accounting exhibitions, where students and professionals from the industry can come together to network, learn, and explore opportunities.
CFA Institute India Annual Conference: This conference is organised by the CFA Institute India, a professional association for investment professionals.
Be Proactive
Don’t wait for internships to come to you. Reach out to companies directly and express your interest in working for them. You can also ask your professors and career counsellors to help you connect with potential employers.
Research the Company and the Internship Position
Before you interview for an internship, be sure to research the company and the internship position thoroughly. This will show the interviewer that you are serious about the internship and that you have taken the time to learn about their company.
Dress professionally and be polite and respectful during your interview.
Accounting is a professional field, and employers expect interns to dress and behave professionally. Dressing professionally shows that you are serious about the internship and that you are respectful of the company and the people you will be meeting.
Being polite and respectful shows that you are a good communicator and that you are easy to work with.
Follow Up After the Interview
After your interview, be sure to send a thank-you note to the interviewer. This shows that you are appreciative of their time and that you are still interested in the internship.
Additional Tips
Here are a few additional tips to help you get an internship for accountant in India in 2024:
Get Involved in Extracurricular Activities
Extracurricular activities, such as accounting clubs and volunteer work, can help you gain valuable experience and skills that will make you more competitive for accounting internships.
Connect With People on LinkedIn
LinkedIn is a great platform to connect with accounting professionals and learn about accounting internship opportunities.
Get Certified
There are a number of accounting certifications that you can earn, such as the Chartered Accountant (CA) certification and the Certified Public Accountant
Accounting Internship Roles and Responsibilities
The specific roles and responsibilities of an accounting intern will vary depending on the company and the internship position. However, some common tasks include:
Preparing financial statements and reports
Assisting with audits and taxes
Performing bookkeeping and accounting functions
Reconciling accounts
Reviewing and processing invoices
Providing administrative support to accountants
Accounting Internship Skills
The key accounting internship skills required may vary depending on the company and the internship position. However, most accounting internships require the following:
Technical accounting skills: This includes knowledge of accounting principles and procedures, such as preparing financial statements, performing audits, and reconciling accounts.
Soft skills: This includes communication, teamwork, problem-solving, attention to detail, and organisational skills.
Computer skills: This includes proficiency in Microsoft Office Suite and other accounting software programs.
Ability to work independently and as part of a team.
Accounting Internship Salaries
Average accounting internship salaries in India varies depending on the company, the location, and the intern’s experience and qualifications.
However, most accounting interns can expect to earn between ₹20,000 and ₹40,000 per month.
Accounting Internship Requirements
The requirements for an accounting internship vary depending on the company and the internship position. However, most accounting internships require the following:
Enrolment in an accounting program at an accredited university.
A GPA of 3.0 or higher.
Completion of at least one accounting course.
Proficiency in Microsoft Office Suite.
Ability to work independently and as part of a team.
Ability to communicate effectively both verbally and in writing.
Some companies may also require additional qualifications, such as:
Experience with specific accounting software programs.
Knowledge of industry-specific accounting regulations.
Bilingualism or multilingualism.
If you are interested in a specific accounting internship, be sure to review the requirements carefully. You can usually find this information on the company’s website or in the internship posting.
Accounting Internship Experience
Accounting experience is not required for most accounting internships. However, having some experience, such as through coursework or volunteer work, can make you more competitive.
If you don’t have any prior accounting experience, you can highlight your transferable skills, such as your attention to detail, organisational skills, and computer skills.
Remember to start your search for an accounting internship early and prepare well. You should also network with professionals in the field and be proactive in reaching out to companies. With hard work and dedication, you can achieve your goal of getting an accounting internship.
FAQs on Accounting Internships
Q1. Which internship is best for accounting students?
Ans: The best accounting internship for you is the one that offers a blend of practical experience and professional growth and is tailored your career goals. Here’s what to consider when choosing an accounting internship:
Size of the company: Do you want to work for a large accounting firm, a small business, or something in between? The size of the company will influence your responsibilities.
Industry focus: Do you want to work in a specific industry, such as healthcare, technology, or manufacturing?
Types of services offered: Do you want to work in audit, tax, or consulting?
Internship program structure: Do you want an internship that offers formal training and mentorship, or one that is more hands-on?
Q2. What do accounting interns do?
Ans: Accounting interns perform a variety of tasks, including:
Preparing financial statements and reports
Assisting with audits and taxes
Performing bookkeeping and accounting functions
Reconciling accounts
Reviewing and processing invoices
Providing administrative support to accountants.
Q3. What qualifications do you need to be an accounting intern?
Ans: To be an accounting intern, you typically need to be:
Enrolled in an accounting program at an accredited university
Have a GPA of 3.0 or higher
Have completed at least one accounting course
Be proficient in Microsoft Office Suite
Be able to work independently and as part of a team
Be able to communicate effectively both verbally and in writing.
Q4. What skills do you gain from accounting internship?
Ans: Accounting internships can help you gain the following skills:
Technical accounting skills, such as preparing financial statements, performing audits, and reconciling accounts
Soft skills, such as communication, teamwork, problem-solving, attention to detail, and organisational skills
Experience working with accounting software and other business tools
Knowledge of industry-specific accounting regulations and best practices.
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