advice-I got let go from my first accounting internship due to the coronavirus

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  • #2965682
    Accountant
    Participant

    One of my professors had warned me that the mid-size public accounting firm I signed up for an internship was the hardest place to get a full time job offer; they expect you to learn very quickly and not make any mistakes with tax returns. If you do make the mistakes you are in the dog house the whole internship.

    This firm really did not give me a ton of tax returns because they were really not busy during busy season. The most hours I did during this busy season is 49 hours. Even the start of this internship they had favorites who they would give the work to. However, they did say they are letting go half of their interns three weeks early.

    I just feel like I am going to be a bad tax accountant when I graduate and I am not good enough accountant. Can someone provide any advice what should I do?
    Thanks!

    #2965748
    FutureCPA2020
    Participant

    I wouldn't put too much stock into it. During downturns, companies usually let go of their contractors and temporary help first, in order to save from having to cut their full-time people. You are not the only person that's being laid off, or in your case let go early.

    This is EASILY explainable at your next internship or FT job interview. Again, I wouldn't be too worried about this affecting your job prospects after college.

    AUD: 68, 74, 83

    BEC: 68, 70, 80

    FAR: 77

    REG: 74, 78 (lost credit),  83

    #2965814
    Kay
    Participant

    Everyone's learning. I can assure you the senior managers and partners went through the same thing you did–thinking they weren't good enough, but they kept pushing and learning.
    So no, don't think you're a bad accountant. This industry is actually pretty negative–from Big 4 Accountant memes to actual verbal beatdowns at work, and even college professors telling people (like me) they shouldn't pursue accounting. But there I am, a with a BA, MST and 2 CPA exams down. Be stubborn.

    REG: 73, 76

    AUD: 63, 61, 72, 78

    FAR: 63, 4/20/20?

    BEC:

    #2965931
    monikerncmonikernc
    Participant

    Don't take your cue from this experience. You still have an internship under your belt and that's experience they cannot take away. You have so much ahead of you just take it in stride!!

    AUD - 93
    BEC - 82
    FAR - 76
    REG - 88
    How have you been?
    Ninja book and MCQs and the forum, all the way!

    Licensed State of Montana April Fool’s Day 2020
    Take that!!!
    AICPA Ethics 93
    Experience was the worst part of the journey for me. You?
    If you want things to change you have to do something different.

    #2966501
    Cobalt60
    Participant

    Like anything tax accounting takes practice. You now have some and will eventually get ALOT more.

    Focus on preparing for another internship or full time position. I like the idea of getting another internship while you're still in school. The more experiences you can get the better off you will be in the long term.

    There may be other opportunities available yet this year with tax season being extended.

    I don't think I would volunteer that I was let go early. Not a big deal, but don't start off describing the experience as being cut short. The answer to a direct question could be the employer ended the internship early due to low demand associated with Covid 19. Perfectly reasonable and understandable.

    Give yourself some time. I have found it takes about 6 months to develop basic proficiency in most any professional role. You're going to be fine.

    AUD - 91
    BEC - 90
    FAR - 84
    REG - 89
    -
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