Accounting to me is challenge as a whole; it is a good subject to learn because

accounting knowledge is always in demand. So far, I am on a good path

learning the basics of accounting. I’ve learned how accounting affects
business and how it allows organizations to identify cash inflows and
outflows. This accounting course provided me a great opportunity to
understand the various important aspects of accounting that I believe will be
helpful in my future practical life. I need to begin my own particular business
in future for that it 's important to have great knowledge of Financial and
Managerial Accounting. This course has helped me to comprehend numerous
essential ideas of accounting.

Accounting to me is challenge as a whole; it is a good subject to learn

because accounting knowledge is always in demand. So far, I am on a good
path learning the basics of accounting. I’ve learned how accounting affects
business and how it allows organizations to identify cash inflows and
outflows. This accounting course provided me a great opportunity to
understand the various important aspects of accounting that I believe will be
helpful in my future practical life. I need to begin my own particular business
in future for that it's important to have great knowledge of Financial and
Managerial Accounting. This course has helped me to comprehend numerous
essential ideas of accounting. This knowledge is going to help me to
comprehend and investigate financial statements and will empower me to
take great business choices in view of accounting data. The following is the
rundown of what I have realized and can detract from this course. Chapter 01

After reading the first chapter, I learned that who are the stakeholders or
users of the accounting information. I get found out about different
organizations like AICPA, FASB and so on impacting the foundation of
generally accepted accounting principles (GAAP) for businesses or
governmental organizations. I comprehend the significance of morals and
accounting gauges like IFRS. While learning different sort of business I
become more acquainted with vital idea of accounting i.e. the business entity
idea. Most critical thing I adapted in this chapter is accounting ideas and
principles. I get to Introduced to assets, liabilities, stock holders equity and
imperative financial statements.
Chapter 02
Chapter 02 gave insights about strides in recording posting the effects of the
business transactions. They are different assets and liabilities records utilized
for recoding the exchange as a part of journal, t-records and ledger. Here I
learned different strides of accounting cycle beginning from breaking down
the transactions by looking at source documents. I found out about get ready
trial balance from ledger and amending trial balance errors. Double-entry
procedure is utilized which oblige that every exchange be recorded by an
entry that has equivalent debits and credits. Resource records will regularly
have charge balances and obligation records will typically have credit
balances. I comprehend that records are of two sorts genuine (Balance Sheet
accounts) & ostensible (income statement accounts). Chapter 03

After completing the Chapter 03, I am able to understand the adjusting

processes of the financial statements for given period in light of trial balance
or ledger entries. Here I adapted imperative idea of accrual basis of
accounting. In accrual basis of accounting revenues are perceived when they
are earned and expenses are perceived when they are really caused to deliver
income. Where as in cash basis of revenues and expenses are perceived when
cash is gotten and paid separately. Records are balanced so that income
statement reports fitting income or cost and to make the balance sheet report
the best possible resource or risk. Matching rule obliges that matching of
expenses and revenues to introduce a precise photo of the profitability of a
business. Adjusting entries are of two sorts deferred and gathered things. In
the wake of passing adjusting entries balanced trial balance is readied.

Chapter 4
Chapter 04 explained about use of work sheet facilitate the completion of the
accounting cycle. The work sheet is a columnar sheet of paper or a computer
spreadsheet on which accountants summarize information needed to make the
adjusting and closing entries and to prepare the financial statements.
Important Steps in competing accounting cycles are preparing adjusted trial
balance after posting adjustment entries, Extend adjusted balances of from
the Adjusted Trial Balance columns to the Income statement, Statement of
retained earnings and Balance sheet. Here I...
During the past summer I interned with PricewaterhouseCoopers in
the company’s Florham Park office. I worked in the tax line of service,
in particular, the financial services tax group. Upon the completion of
my internship, I was very excited to receive an offer to begin a full-time
job as a tax associate with the company starting in June.
As a senior accounting student at Rutgers, I am pursuing a dual
major in accounting and supply chain management. I had actively
pursued an internship opportunity that would provide practical
professional experience as it relates to the taxation of financial
services organizations. During the recruiting process, one of my
interviewers confirmed that interns are treated as if they are first-year
associates which allows them to see what it’s really like to work at
PwC. Thus, after meeting with multiple campus recruiters, attending
career panel discussions and going to informal and formal office visits,
I was convinced that PwC would provide me with the experience I was
seeking.
My whole internship experience began with a comprehensive tax
training session in Georgia. When I returned to Florham Park, I was
assigned to a specific client with a team of six others – a manager,
senior associate, two first-year associates, another intern and myself.
Being staffed on an on-going client and being able to work side-by-
side with people at all levels was probably one of the best aspects of
the internship. Not only was I able to learn about the client work, but
also about the daily work-life of PwC professionals in different
positions. Being able to do this really impacted my decision to accept
the full-time position when it was offered to me.

Ex-pe-ri-ence: The process of doing and seeing things and

of having things happen to you; skill or knowledge that you
get by doing something.
The aspect of the internship that I liked most was having the
opportunity to work on client projects and the collaborative nature of
the work. The collaboration allows interns to connect with
professionals beyond their immediate team (which you should
definitely take advantage of). Although I was working with one specific
team, it did not mean that I couldn’t build relationships with other
individuals too. During some down time, I used to reach out to other
professionals and request if there was work I could do. This makes
you look confident and proficient and will surely make employees
remember you over the other 20 interns.
My summer internship concluded with PwC’s three-day launch
program in Disney World to celebrate the full-time offer received by
interns throughout the nation. There I was able to meet and connect
with other interns while participating in team building and leadership
exercises. It was definitely a helpful experience.
Some tips I would like to offer to students who are planning to do an
internship – regardless of what company you get a position with:

 Ask questions and write everything down.

 If you do not understand something, it is always better to ask

questions instead of spending double the amount of time doing that
work.

 Connect with as many professionals as possible.

 Make suggestions when appropriate.

 Volunteer whenever opportunity arises – it shows that you have

initiative.

 Always show up to work with a good attitude and positive vibe.

The best way to succeed is to know what you are looking for in a firm.
Research the firms. Go on office visits and select the opportunity that
is most aligned with the qualities and characteristics that you’re
looking for in a job. Have fun. Learn a lot. Most importantly, grow
professionally.