Business Papers on Internship Report: Appliances

Internship programs are essential parts of education since they expose students to the environments into which they intend to venture after completing their education. As part of the institution’s program, students are required to undertake an internship in a company of their choice.   The placement is aimed at exposing the learners to the working environment. As an intern, the primary challenge usually lies in translating the theoretical knowledge and concepts into practical, real-life experience. This report details my internship experience at Appliances. Key objectives that the internship sought to achieve included gaining and organizing detailed knowledge on the job responsibilities, comparing real scenarios with lessons learned in school, and fulfilling part of the requirements for the institution’s program.

The internship lasted for three months. Over the period, I was attached in the company’s finance department as Accounting Intern. My immediate supervisor was the Senior Accountant who would review my progress weekly. Since I was new in the corporate world, the first few weeks entailed being guided on my responsibilities by an accountant assigned to supervise me. I was rotated across different areas in the departments, majorly, the receivables, payables, and inventory tracking department to ensure that I learned optimally.

Founded in 2002, Appliances strives to provide better and bigger appliance deals than any other corporation in the U.S. ( Appliances, 2018). The firm’s office and warehouse are situated in Wilmington, DE. At the warehouse, customers can view a great deal of appliance offered by the company. Big Centric Appliance boasts of key customer value additions such as free delivery of appliances and warehouse direct sales. Additionally, the company does not charge sales tax on its products. Deliveries to customers are made within 3-5 days. Working at this organization significantly exposed me to not only practical accounting knowledge but also business experience.

What I Learnt from the Internship

Throughout the attachment in the Accounts department, I was assigned various responsibilities that contributed positively towards developing my knowledge and applying what I learned in class.  The knowledge that I gained was far beyond what I expected. For instance, I thought that I would only be exposed to accounting work. However, I learned the business as a whole, which exposed me to quite a lot concerning logistics, management, and general business environment. Additionally, I was able to interact with suppliers and customers, enabling me to learn pretty much concerning payables and receivables management.

Primarily, I can identify five main areas that I explored and develop my knowledge on during the entire internship period. These include performing the general accounting functions, communication with suppliers, organizing company files and creating a support system, reviewing collection reports, and serving as a representative to Chinese business expansion. Concerning performing general accounting functions, I was tasked with the responsibility of preparing journal entries, balance sheet reconciliations, and account analysis. The Journal entries captured transactions from the source documents, such as receipts and invoices from suppliers. These tasks enabled me to translate the accounting concepts of debits and credits to practice.

Balance sheet reconciliations entailed ensuring that the accounts reflect the true state of affairs by matching different control accounts in the ledger. Reconciliations also provide that all transactions have been captured correctly. Key accounts that were reconciled included bank, supplier and revenue accounts. Account analysis entailed taking a close look at transactions to ensure that correct amounts are posted and in the proper accounting period.  I also learned how to make financial statements, and most importantly balance sheet, income statement, and cash flow statement, which were presented to the shareholders. I also proposed metrics and Key Performance Indicators (KPIs) to be incorporated in the scorecards and monthly financials.

During my internship, I also communicated with suppliers to reconcile invoice payments and rebates. I would review supplier statements and track all payments to ensure correct figures have been posted to accomplish the mentioned role. I also reconciled employee expenses, commissions, and credit cards. I also gathered key data and modeled it accurately to assist with business forecasting. I would perform periodic budgeting to project both daily and monthly cash requirements to ensure that the company managed its cash flow well.  As part of my responsibilities, I was required to review collection reports and update the status of receivables. Management of collections and payables ensured that the company runs smoothly by mitigating any risks of cashflow inefficiencies.

I oversaw documentation of company expenses, revenues, and other related transactions to ensure that accurate reporting is done. I learned that proper management of accounting information requires a great deal of filing and support system. I was also involved in organizing the company’s files as well as creating a support system aimed at increasing productivity and decreasing workload. I also established a financial system that assisted in improving different aspects of the firm’s operations. I also served as a representative to expend the Chinese business in the company by reaching out to clients to extend and maintain relationships for future business.



References Appliances, 2018. Appliances – About Us. Retrieved from