Why Accounting Internships are a Great Experience for Your Resume

If you’re approaching the end of your degree in accounting, how are you going to bridge the gap between the world of academia to the world of commerce? Consider applying for an accounting internship program to get your start in the in-demand accounting industry. Accounting is a rewarding, skilled, and valued profession. As various sectors diversify, accounting roles are increasing in popularity and require a robust understanding of all things finance. Here’s the 4 best reasons why internships in accounting are a great addition for your resume.

Accounting Internship in Australia

1. Accounting Internships Give You Access to Industry Mentors

Have you ever started a new job and could have used some advice about the ins and outs of the industry before your first day at work? An internship experience in accounting gives you this valuable insight as you learn about the daily operations at your company and your role in the accounting team. In your internship, you’ll be surrounded by the many perspectives of older and more seasoned accountants who will take you under their wing. If you’re looking to gain just that little bit of extra help toward the steps in how to get a job in accounting in the future, consider the K22 Mentorship Program with Premium Graduate Placements, where you can get access to additional guidance from industry professionals.

2. Accounting Internships Are a Chance to Get Professional Experience

An internship program truly puts into practice the concept of learning by doing. There are many different and exciting roles in the accounting sector and you can try them out to see which ones suit you the best – maybe you like working with taxation matters, or assistance with personal finance is your jam. Internships are not simulated experiences, rather they are professional opportunities for the purpose of gaining workplace skills and technical knowledge. Qualifications in accounting often focus on the knowledge aspect of the field, but the classroom can only give you so much before it’s time to move into the life of a professional. Accounting is multi-faceted field and each client presents a unique perspective every day. Internships in accounting give you the insight of real-world applications of accounting knowledge that the classroom in your Finance 101 class won’t touch upon. With Premium Graduate Placements, the accounting internship programs are structured in a way that you can gradually build upon your skills to specialise in different roles in accounting.

3. Networking

Oftentimes, who you know is just as important as what you know, and this is no different for people who are up-and-coming in the accounting industry. Building up your connections is an important skill to learn that could make your professional life full of exciting new projects. Companies are more likely to hire previous interns as they have proven themselves to be a reliable candidate. You never know, that person you were introduced to during your accounting internship who helped you navigate payroll software like MYOB and XERO might be the person who hires you one day. Through the structure of internship programs for accounting, you’ll come across professionals at various stages in their career who can give you all the advice they wished they had when they were starting out.

4. Accounting Internship opportunities build confidence

A healthy sense of confidence and self-awareness go a long way in the professional world. If you’ve never had real-world accounting experience before, then building up soft skills is equally important as skills that are solely related to the field. Soft skills, such as communication. Building your confidence enables you to develop a sense of self-efficacy, which is the ability to complete tasks through believing in your ability to do so. Studies have shown that employees with a low sense of self-efficacy are not able to successfully complete tasks to the extent that those with a healthy sense of self-efficacy do. One way to increase self-efficacy is through gradually increasing the difficulty of tasks. This is exactly what internships in accounting do – internships scaffold your way through the day-to-day life of what a professional accountant is like, through an environment full of positive reinforcement. Many of those higher up in the firm had to start from somewhere, and an accounting internship is the head start that more seasoned professionals could have dreamed of!

Doing Accounting Internship in Australia

An internship is like gaining practise, and a chance to up your workplace skills at a pace that’s comfortable for you on the learning curve. Accounting internships are a great experience for your resume because they give you the opportunity to network with access to all the support resources you need and more, develop your and knowledge required for the day-to-day job before you start. If you are interested in being part of Premium Graduate Placements’ accounting internship program, then check out what’s in store for you in our current vacancies.

Finance Internship in Melbourne – FINM001

Finance Internship in Melbourne: Internship Overview

Role: Finance

Industry: Accounting

Location: Melbourne

Internship Type: In-Office (3-5 days a week)

Duration: 3 Months

Internship Code: FINM001

Host Company:

This Host Company is a multinational financial and investment company based in Melbourne. Their services focus on the implementation of tech in strategic plans, and management of portfolio and investments.

 

Tasks: 

  • Assist the Finance Officer with the running of efficient operational tasks on a daily basis
  • Support in the preparation of the review and reconciliation of journals
  • Complete and collate supporting documentation for submission
  • Work with various accounting software set up and training (MYOB, Xero, QuickBooks, Reckon)
  • Process Single Touch Payroll setups and submissions

About You:

  • Strong mathematical and data analytical thinking skills
  • Excellent eye for detail
  • Good organisational time management
  • Strong interest in learning about the accounting and taxation industry
  • Ability to work independently with minimal supervision
  • Resourceful, reliable and responsible
  • Basic understanding of accounting principles and accounting standards are a must
  • Basic experience or knowledge of accounting softwares – MYOB, Xero are a bonus

Finance Internship in Melbourne

How to Apply:

Click “Apply Now” and send us an enquiry along with your Resume.

What Do Companies Look for in an Accounting Intern?

Do you love numbers, accuracy, and keeping everything in balance? Then you’re someone headed into a career in accounting. Starting out in the accounting industry and standing out from the crowd can be difficult if you have no demonstrated work experience, and are unsure of what companies are looking for in their ideal intern candidate. Accounting internships can assist you in developing the necessary skills you need to be successful. We’ve compiled a list of the top skills companies and employers look for when selecting an accounting intern or graduate:

1. Attention to detail

Are you someone who takes pride in doing your work to the best of your ability? Accounting is a detail-oriented profession where conscientiousness does not go unnoticed. In your role as an accounting intern, your daily tasks and projects will be structured in a very procedural manner. This requires double-checking your work and others’ work, as well as planning your day out in detail and prioritising accordingly. Accounting is a profession where being impulsive is not conducive to being an ideal candidate. Oftentimes, accountants calculate company money matters to the very decimal, so a lack of precision and consideration could be costly!

Working on accounting assignment

2. Timeliness and Reliability

The old saying that time is money rings true to the life of accountants and interns who value this principle. Much like being attentive to detail and having conscientious companies with accounting interns are required to be efficient with their time on tasks. In the accounting industry, deadlines, such as the End of Financial Year and Tax season are essential for every business. In a company setting, accountants need to work smarter, and internship candidates need to demonstrate their reliability through valuing others’ time. Following up and being engaged with the team is a positive attribute that companies look for in people commencing accounting internships.

3. Logical thinking and Problem-Solving Ability

Do you like thinking through abstract problems with careful consideration, or are you a boss at finishing puzzles and strategy games with great speed and precision? Find satisfaction in coming up with entrepreneurial-minded solutions to financial problems, big or small? Qualified accountants working in a company team or those working with private clients often need to plan out client financial matters months in advance, so developing putting those logical thinking skills needed for a fulfilling and impactful career into practice during an accounting internship will be attributes that companies look for.

4. Communication

The stereotype of accountants working alone may be true at times, but collaboration is a huge part of the profession. Companies look for accounting interns who are people-oriented and can develop client communication skills to hone in on big-picture and short-term thinking. Use your listening skills to help finding solutions that suit the needs of clients to reach their financial goals.

5. Numbers-Driven

In an accounting internship, you will need to complete daily tasks or projects that require a high level of mathematical competency. Got an interest in analysing statistics, solving money matters, or having a technical know-how with Excel spreadsheets and know what MYOB is? These attributes will give you an advantage during your accounting internship. Your efficacy will increase as your familiarity with the company environment does.

open vacancy accounting internship

6. Being Ethical

Having a sense of justice and fairness is crucial for those entering the accounting industry. Professional accountants deal with sensitive material, including personal information such as TFN’s and bank details, and have to have an understanding of financial, property, and tax law. Essentially, accountants must operate within the bounds of what is ethical for everyone involved. Companies do not want employees and people in graduate internships who wish to cut corners or rip clients off. If you genuinely want to help others and live by your values, then demonstrating the passion to serve and empower others will be advantageous.

7. Enthusiasm and Self-Efficacy

Perhaps the most important soft skill, it goes without saying that having a genuine passion and interest in developing your skills and knowledge in the accounting industry will get you far in your career. Companies appreciate accounting interns and – in future – employed accountants who can integrate into the company culture and embody its values in practice every day. Your work ethic says a lot about you, and demonstrating your ability to grow professionally during an accounting internship will give you more experience. Additionally, interns who have a sense of self-efficacy – the belief that you can complete a task to the best of your ability – present themselves as potential candidates for employment.

Accountants are crucial, skilled, and in-demand roles across all sectors and professional settings. The difference you can bring to an internship placement is within these positive attributes that companies seek in selecting their interns. Embodying these traits and having the values of an ethical, attentive, and capable worker will make your internship a productive experience that you can get the most out of.

Insight into a Finance Internship

Premium Graduate Placements Presents:An Insight into a Financial Internship

This week, Premium Graduate Placements sat down with one of our interns, Amith, to gain some insight into his motivations for pursuing a career in finance, his perspective on the necessary skills required for the industry, and his overall finance internship experience.

“Academically I studied economics all the way through my undergraduate and postgraduate studies-in multiple institutions. My undergraduate studies were at the LSE in London. In 2009, when I first commenced my studies, London was still revered as one of the global centres of finance.

Interviews

This also prompted some very big businesses to have their global HQ in London, so the careers available were varied, but the competition was ruthless. You would find yourself competing against graduates of some of the top-tier institutions in Europe-for any chosen career.”

In light of the Global Financial Crisis, with global economic slowdown hitting Europe especially, the increased number of lay-offs forced previously skilled individuals to retrain and return to study. As Amith puts it, “the economic climate was gloomy and chances of getting a job, especially for international students, were slim and narrow.”

Thus, Amith believed that in order to be competitive in the job market, there was only one real solution; obtaining as much experience as possible to stand out of the crowd.

We asked Amith he enjoyed most about finance, and what drove him to the industry in general.
“The appeal of finance for me was never the prospects of a career offering huge sums of money-quite contrarian. It was always the prospect of helping individuals, corporations and the ability to apply what I have garnered academically over the years.” He went on to add that in order for him to achieve these goals therefore, it wasn’t a difficult decision to undertake a finance internship from Premium Graduate Placements.

In order to effectively fulfil his duties, Amith went on to list what he thought, in his experience, were some necessary skills that must be obtained to be successful in the financial sector. These included the ability to read and interpret financial statements, the ability to calculate and convey metrics of risk and returns to clients, and the ability to structure the appropriate protocols of engagement for clients to access and redeem funds. In addition to this, Amith believes that in order to set yourself apart from the crowd, you need to be able to convince potential clients to invest with you.

“Knowing the content of what you are offering helps but everyone else is doing the same, hence it is pertinent that you work to offer creative solutions to clients and offer solutions that are arranged around them and are relevant to them.”

Going back to the Global Financial Crisis, Amith realised that in order for him to actually secure any meaningful employment in finance, he had to complement his education with relevant work experience. Amith says he enjoys his current placement selected by Premium Graduates Placements.

“My current placement has all the elements of a career in finance; I get to interact with clients, I get to analyse things and I also get to talk to the Principal who sits right next door to me and talk strategy and business development.”

So far, Amith has worked on the company’s marketing efforts to better augment their capacity to reach clients, setting up new divisions of growth and returns, and has been responsible for streamlining old practices to better improve internal organisation protocols.

“My finance internship has enabled to display how I can add value to the enterprise and they have allowed me to expand beyond my routine of “regular” work. The resources for personal growth and development are there and one is most welcome to use it, hone it and utilise it to help the client and the business. This wouldn’t have been quite possible if Premium Graduate Placements weren’t mindful of what I looked for in a career. Thankfully they listened and subsequently they delivered.”

Long-term, Amith looks to managing his own fund, and at this stage, is hoping to focus more on what specific skill areas he is lacking and where best to direct some of his improvements going forward.

On behalf of Premium Graduate Placements, Amith, we wish you all the very best in your future pursuits!

Click here to find out about our program and other opportunities.