Summer Internship Programme with a CA for commerce students

A summer internship for the students of Commerce was held from 8-12 June 2020 with the support and collaboration of in-charge of Mr Akshat Maheshwari of M/s. Anil Maheshwari & Company, Rajendra Palace. The internship was attended by 20 students of class XIC and was conducted on the online collaboration platform Microsoft Teams. Apart from providing the students a glimpse into the real world of accounting, the internship also focused on arousing a deeper interest amongst them by offering a view of a practical experience.

The excited group of 20 students looked forward to the 5 day CA Internship Programme. They were delighted to have been selected from a class of 61 and waited anxiously for it. The students were divided into 4 groups and assigned different tasks.

On the first day, the students were informed about the various aspects of the profession of a CA. They were told about the professional exams to be cleared, the level of preparation required for these, in detail by Mr Maheshwari. He also told them about forensics in CA and helped them know more about the stock market. The students were also given a project to learn more about the same.

On the second day the interns did practical work. Mr Maheshwari taught them how to calculate taxes when the gross income was given. For the practical work they calculated taxes for people of different age groups. The tax slabs consisted of information about different percentages of taxes to be levied on people belonging to different age groups. The students learnt about cess and surcharge. They also got to know about the different deductions from the gross income like charity, donations, medical expenses etc.

On the third day, Mr Maheshwari showed the students a balance sheet of one Ram K Crop Solutions Pvt. Ltd. He taught the students how to prepare a balance sheet, the trial balance, trading and profit and loss accounts.

On the fourth day, the students were introduced to a popular accounting software -TallyERP 9, with the help of which, they created their own make- belief company and named it Covid-19 Sanitizer. Mr Maheshwari taught them how to calculate the 3 types of GSTs on MS Excel. They were also taught how to deal with complex/compound entries in Tally.

On the fifth day, all the four groups presented their projects on the stock market. Based on their presentations, Mr Maheshwari selected 3 companies that he wanted to invest in! At the end of the session the students enjoyed a chat with him about the whole programme and their future goals.

The young interns were awarded e-certificates for attending the internship. The experience of working in a company and participating in its accounting aspect was an invaluable one.

Our heartfelt thanks to Mr Maheshwari for enabling the enrichment.

Harshit Sethi, XIC