Importance of Internships for Aspiring Accounting Professionals

The article discusses the importance of internships for aspiring accounting professionals and how it can enhance their skill set. It includes a personal insight of an accounting student seeking an internship at GTRS, a migration, loan and finance company in Adelaide. The article also highlights the latest trends in the finance and accounting industry in Australia.

PERSONAL INSIGHT
[DATE]

Personal Insight 1
Internships are an important part of the career growth and desired employment. It increases the
professional knowledge and assist the employees in understanding the practical aspects of the job
profile as well as assist them in working in a real time work environment. I am an aspiring
accountant and want to learn accounting skills required in the professional work environment.
The internship will require me to work within professional corporate culture, participate in
different accounting activities and managing ad-hoc accounting tasks of the organization
(Wilson, 2014). I have sought internship at GTRS, a migration, loan and finance company in
Adelaide. The company is searching for accounts professionals and will provide experience in
different accounting activities of the organization. It will enhance my skill set as a professional. I
will get full exposure to the organization culture, along with skill development. The internship
program will assist me along with other professionals to obtain different skills required to work
in Australian work culture. It is an excellent opportunity for the graduate accounting
professionals.
As per the job description, I will have diverse key responsibilities as part of my job. It will
include the management of database, management of accounts, management of the audits and
balance sheet reconciliation, bookkeeping, data entry and the tax returns. I believe that it is an
excellent job opportunity as I have all the minimal requirements which an ideal candidate should
possess. I have familiarity with the Xero or MYOB software, Microsift Excel and word and
proficient in multitasking. Other than that, I also have ability to work under pressure, and have
great time management and organization skills. It can be critiqued that I have excellent skills
related to bookkeeping, tax management, and organization of the company’s accounts. I also

Personal Insight 2
possess good interpersonal relationships and the present internship program will further enhance
my internship skills and communication ability with my peers and colleagues.
My desired career path or goal is to become a skilled accounting professional. Therefore, this
internship opportunity will enhance my skill set related to the management of the company’s
accounts. It is a renowned organization in Australia and handles a lot of accounting related task
as it is a migration and loan organization. The company uses advance accounting software such
as Xero or MYOB. The learning on these software will be beneficial for me in my future career
aspirations (Burns & Needles, 2014). It can be critiqued that in the present, I do not possess
experience in the accounting field. Therefore, most of the large and big business organizations
avoid offering permanent employment. Therefore, it can be stated that the internship will be
beneficial in attaining permanent positions in large or multinational business organizations.
Recently, several new changes have emerged, which have transformed the finance and the
accounting industry in Australia. The latest trend is that the banking and finance industry has
consistent and stable performance. The industry is observing a stable growth thus, it will require
more skilled and talented professionals. Another trend observed in the finance industry is the
growing importance of the technological innovation. The technology is changing the manner
through which the banks operate and engage with their customers. Therefore, the banks will
prefer young, technology-focused professionals as part of their workforce. In the present,
technology is changing the manner in which the financial institutions operate, and as a result,
these institutions have to adapt and evolve their business models (Schweyer, 2010). The
technology has transformed the strategies which can be used to increase the employee
engagement. Another trend with the advent of technology is that of cyber security. In the recent
years, there has been a string of internet heists on different bank accounts which has increased

Personal Insight 3
the concern of the financial institutions regarding the digital infrastructure. It has also elevated
the demand of the IT security professions. The companies also expect that the financial
executives have knowledge of the latest accounting professionals, skills related to handling these
software in an appropriate manner. These software should be used in a proper manner, so that no
information technology breach can occur in the organization.
The technology has also initiated the trend of high diversity in the business organizations (Jasper,
2006). With the technology, the transportation and communication at greater distance gas
become quite easier. The technology has assisted the organizations in creating diverse workplace
in which people from different places come together to work. The technology has transformed
the core business, structures, and processes of technical innovation. However, with technology,
the demographics of the employees have also transformed.
These technical trends also have a strong impact on the interview and the shortlisting process of
the organization. The business organizations desire that the candidates have skill set for handling
different software and have knowledge of maintaining the security for the organization’s data.
The technology is also changing the manner of the interview process. Nowadays, most of the
professionals are recruited through professional networking sites. It is important to create and
develop resume according to the digital mediums. Moreover, nowadays, the interview can be
conducted via the video conferencing. It is a convenient manner, in which the interviewees do
not have to travel, and can give interview from their native location.

Personal Insight 4
References
Burns, J.O., & Needles, B.E. (2014). Accounting Education for the 21st Century: The Global
Challenges. Elsevier.
Jasper, M. (2006). Professional Development, Reflection and Decision-making for Nurses. John
Wiley & Sons.
Schweyer A. (2010). Talent Management Systems: Best Practices in Technology Solutions for
Recruitment, Retention and Workforce Planning. John Wiley & Sons.
Wilson, R.M.S. (2014). The Routledge Companion to Accounting Education. Routledge