Internship Report
INTERNSHIP REPORT
FIRST WEEK:
You would think that three years of school, half a dozen accounting classes and about thirty business courses would prepare someone pretty well for an accounting internship. While I will admit that I may have missed a few classes, I doubt that is why my time at R.C.Maheshwari & Associates taught me more about accounting and business than anything I have taken in college .
I worked on New Horizon project and done tax returns & tally. I helped in recording receipt voucher, payment voucher, sales voucher and purchase voucher. When purchase goods attracting different rates of VAT, we have to create different purchase ledgers consisting of different tax rates. e.g. purchase@4%, purchase@12.5%, purchases@1% separately and have to create different Input VAT ledgers consisting of different rates. When we enter the vouchers in purchase, we can select the required purchase ledger. e.g. purchases@12.5% and record. Regarding the Input VAT ledgers we can select the required Input VAT ledger (e.g.Input VAT@12.5%) that comes under the concerned purchases. I had a huge variety of experiences and was fortunate to get the opportunity to work with so many different (and extremely talented) people. But the most important part of all this is that I was asked to do important tasks and given challenging assignments across this broad spectrum of experiences. That is what sets R.C.Maheshwari apart for me, and it is what made my internship special –R.C.Maheshwari & Associates will challenge you to take on as much as you can, even if it means making mistakes the first time around.
SECOND WEEK:
With little over a week under my belt at R.C.Maheshwari, Abishek took me out on a 401K plan audit where I have done vouching to make sure the plan had accurate records of participants and had followed the plan document in allocations, loans and other issues. I asked Abishek a lot of questions about why we did certain things, and even more questions that
FIRST WEEK:
You would think that three years of school, half a dozen accounting classes and about thirty business courses would prepare someone pretty well for an accounting internship. While I will admit that I may have missed a few classes, I doubt that is why my time at R.C.Maheshwari & Associates taught me more about accounting and business than anything I have taken in college .
I worked on New Horizon project and done tax returns & tally. I helped in recording receipt voucher, payment voucher, sales voucher and purchase voucher. When purchase goods attracting different rates of VAT, we have to create different purchase ledgers consisting of different tax rates. e.g. purchase@4%, purchase@12.5%, purchases@1% separately and have to create different Input VAT ledgers consisting of different rates. When we enter the vouchers in purchase, we can select the required purchase ledger. e.g. purchases@12.5% and record. Regarding the Input VAT ledgers we can select the required Input VAT ledger (e.g.Input VAT@12.5%) that comes under the concerned purchases. I had a huge variety of experiences and was fortunate to get the opportunity to work with so many different (and extremely talented) people. But the most important part of all this is that I was asked to do important tasks and given challenging assignments across this broad spectrum of experiences. That is what sets R.C.Maheshwari apart for me, and it is what made my internship special –R.C.Maheshwari & Associates will challenge you to take on as much as you can, even if it means making mistakes the first time around.
SECOND WEEK:
With little over a week under my belt at R.C.Maheshwari, Abishek took me out on a 401K plan audit where I have done vouching to make sure the plan had accurate records of participants and had followed the plan document in allocations, loans and other issues. I asked Abishek a lot of questions about why we did certain things, and even more questions that