Internship Progress Report

Internship is an important part of a person’s life. It can be seen that work life of an individual is one of the critical phases of a person life.  A person undergoes a radical change in the experience and knowledge that is derived in the process. It is a learning curve for an individual and various inferences are gathered, which contributes to the growth and enhancement of the career of a person. Thus, it can be seen that work life and career helps a person to contribute to the organization and at the same time, perpetually contributes to growth and learning of a person. 

Learning and Contribution Summary

1. I have three work terms in two distinct companies, which has enabled and allowed me to display my talent and abilities and hone my skills in the process. It was a major learning curve for me and it instilled intricate knowledge in me, which assisted me in discharging my duties to the best of my ability.

My first work term was with Simon’s Development Real Estate development Ltd. My job role of with this company was as an accountant intern. It was a very enlightening and important learning curve for me. One of the key skills that I learnt during this work team was the ability to analyze financial statements in a cohesive manner and the ability to scrutinize the authenticity and veracity of the financial statements and documents of the company. As a part of my job role, I had assisted the company and the employees in assisting in internal auditing work. It helped me to develop a better and comprehensive understanding of the financial statements of the company and identify the various elements of the financial elements of the company. During my tenure of internship, I had developed auditing skills as I had assisted and actively participated in the internal auditing of the company. It developed my skill and understanding regarding accounting principles and knowledge as I had actively assisted the finance team with preparation of accounts and various elements of accounting like account reconciliation, preparation of accounts and expense reports.

My second and third work team was with Sen Sen Material Ltd. The job role with this company was that of a sales man. This was a new and a different learning experience for me as it allowed me to venture into different avenue and explore different element of the business of this company. One of the key skills that it allowed me to develop was a close and a strong understanding of the market. It gave me a clear and a strong understanding of the market trend and the interaction of the forces of the market demand and supply. It helped me to understand client needs and demands and at the same time understand the different classification of clients. It helped me develop an insight and a critical understanding of the various forces and factors determining the functioning of a market. I had assisted the company in analyzing the feedback and evaluating the needs and demands of a client. This had allowed me to develop a clear and cohesive understanding of the market and the importance of analyzing the feedback of the clients to meet the growing needs and demands of the market and help the company to achieve high sales by meeting the demands.

2. During my first work term, I had assisted Simon’s Innovation Real Estate Development Ltd in various financial activities. I had actively contributed to the financial functions of the company. I had assisted the company in preparing the financial reports of the company. I had assisted the finance team in preparing the account reconciliation and other accounting treatments of the financial records. I had contributed to the efficiency and had assisted the company in maintaining the productivity and handling critical financial operations. I had also contributed to the observance of legal requirements by assisting the company with internal operations that allowed the company to scrutinize and regulate the internal processes of the company and in the process assist many employees of the company with clerical work. I contributed to the team spirit and development of the positive work atmosphere by cooperating and helping the other employees and maintaining good communication level in the company and fusing team spirit with other members of the company.

During my second and third work term, I had assisted Sen Sen materials in achieving high sales index. I had contributed to the overall efficiency and productivity of the company and helped the company to achieve high customer satisfaction by analyzing the customer feedbacks and assisted and enabled the company to meet the various needs and requirements of the customers. I also assisted the company to meet the legal requirements by understanding the policies of the government and working within the legal parameters that are set for the company. I had contributed to the overall efficiency and the increase in the profitability index of the company by identifying market information and helping the company by bringing about equilibrium between the market forces of demand and supply. I had helped the company to enhance the profitability, performance and productivity of the company by evaluating, studying and estimating the market forces of trend and in the process helped the company to make necessary purchases and fix the production level accordingly. Thus, I had fully justified my job role and diligently discharged my role and duty by helping the company to make improvements in their business and consequently assisted them to expand and grow in the process by improving the quality standards and the level of performance of the company.

Academic Theories

There were there academic theories that I learned during my Bachelors of Commerce Programs. These theories assisted me during my work term and helped me to apply to these theoretical framework and knowledge during my work term. The three academic theories that were used are theory of learning, theory of motivation and theory of communication.

Theory of Learning

Theory of learning is conceptual frameworks that refer to the fact that how data and information is gained, retained and processed during the learning process. Cognition, emotions and the external surrounding play a sound and important role in during the acquisition and understanding of knowledge. During my work term, this theory played a significant role (Kolb & Kolb, 2012).  There was congruency between the theory and my practical experience in the work term. During my work term, learning was an integral part of it and there were various factors that strongly affected this learning curve. One of the features that is worth mentioning is that the work environment played a significant role and it facilitated effective and efficient learning on my part. Emotions and cognition also played a significant role in the learning process. Emotions major influenced the learning process as the motivation and the morale level fluctuated with the emotion level and the energy level. Cognition also played a significant role in the learning the various processes of the job role. The sense of rewards and penalties and the thought process had a profound impact on the working habits and the learning experience.

Theory of Motivation

According to extrinsic theory of motivation, a person is influenced by external factors like rewards and penalties. The attraction of rewards induces a person to perform to the best of the ability. On the other hand, the fear of penalties and punishments induces people to avoid committing errors and sub standard work (Wright, 2016). This theory had a strong correlation with my work terms. The extrinsic motivation theory had a strong application in this case. The attraction of rewards of incentives and bonuses assisted me and motivated me to work efficiently and earn the benefits and rewards. On the other hand, the punishments made me cautious and made me work hard and to the best of my ability due to the fear of punishments.

Communication Theory

According to the communication theory there are three types of communication. They are assertive, passive and aggressive communication type.  Passive communication refers to the establishment of personal viewpoint without incorporating the viewpoint of the opposite party. Assertive communication is flexible and establishes the view point of the speaker after listening to the viewpoint of the other party and incorporating the viewpoint of the other party (Greene, 2013).  On the other hand, aggressive communication only thrust on presenting the viewpoint of the speaker and turns a deaf ear to the viewpoint of the speaker. In such cases, it can be seen that assertive communication is the most flexible and preferred communication type. This theory also assisted me in my workplace by incorporating the assertive communication style. It helped me to communicate in an effective way by being an effective speaker as well as an effective listener. It helped me to understand my co workers and also the viewpoints of various people in my workplace.

Impact off Work Terms on Career Choice

My career goal is to become a financial controller. The key criteria and features to become a financial controller are to have solid and intricate knowledge on finance and accountancy. A financial controller needs to have in depth knowledge of the accounting theories and rules. It needs to be aware of accounting standards and frameworks and also be aware of the changes in accounting rules and regulations. Sound knowledge of financial tool and software is needed to be the financial controller. Expertise in finance practices and decision making is required to be a financial controller. My work terms as an accountant would have a deep and profound impact on my career goals. My work experience as an accountant would act as a catalyst in achieving my career goals. The role of the accountant gave me a sound knowledge on accountancy and accounting rules and regulations. It shed critical light on understanding the various international rules and regulations as well local accounting standard. The analysis of the accounting statements and other financial statements allowed me to develop a strong understanding of finance that would allow me to become a successful financial controller. The use of different of accounting and financial software would assist in financial activities.

Summary of Ideal Position Description

My career goal is to work in the finance sector. My long term goal is to work a s a financial controller and to succeed in the financial sector. I intend on pursuing for further and higher education after my Bachelors for Commerce Program. I intend on completing and securing MBA degree as my second degree education qualification so that it helps me in achieving my goals and thereby add credibility to my skills and abilities.

Position Title

I intend on working as the financial analyst and consultant.

Name of the Company

I intend to join Sun Life Assurance Company of Canada and Loans Canada. The former company is an insurance company while the latter is a loans agency company.

Education and Certification Required for the Post

Post-graduate and specialized degree in finance is required for becoming a financial analyst and consultant. Diploma degrees and certificates are also needed for meeting teh job requirement.

Skills Required

The skills required for becoming a financial analyst are:

• In depth knowledge and analytical skills in finance
• Strategic way of thinking
• Time management and in depth understanding of the organizations operations and structure
• Efficient presentation skills
• Sound knowledge and understanding of the ERP systems and other software

Description

The job description depicts the following features:

• Evaluating and analyzing the present and past financial information and performance
• Constructing and developing reports and projects on such analysis
• Evaluating and assessing investment choices
• Establishing and correlating financial models and conducting forecasts
• Assessing and developing plans for profit
• Assisting and guiding other members of the finance group to evaluate financial data

Appropriateness for the Position

My education qualifications, professional skills and experience would make me a suitable candidate for the job profile. My previous work experience has lent me necessary experience and skill to handle the current job profile of financial analyst. My current education qualification, which is the Bachelors of Commerce Program and the second degree MBA degree, would lend me necessary qualification to qualify for the post of the financial analyst. My education qualification and professional experience and skill would make me a necessary candidate for the job profile.

Potential Employers

The two potential employers that I intend to work for in future are: Concentra Financial Services and Toronto Dominion Bank.

Concentra Financial Services

Concentra Financial Services is a finance co-operation organization. The organization is involved in providing wholesale and finance solutions to credit unions in Canada. The company provides loans, and credit facilities to various industries. The company provides consultancy services and financial solutions to various business houses and to different industries. The company has a traditional hierarchal organizational structure. It functions via two business lines. The company is located in Saskatoon in Canada (www.concentra.ca). 

The company job profiles demands financial analyst and consultants. It requires detailed and in depth analysis of financial data and providing financial solutions to clients and customers. Financial planning and risk assessment is required for this job profile. Evaluation of the financial data is required for this job profile.

The recruitment policy of the company is simple and selects candidates based on the merit. The candidate is selected after screening of the CV and interview.

Toronto Dominion Bank

Toronto Dominion Bank is a multinational bank situated in Toronto. The company offers banking and financial services to the employees. The company belongs to the finance sector and the company follows the traditional hierarchal top down organizational structure (www.tdbank.com).

The job profile of this company is an internal auditor. The internal auditor has to scrutinize and investigate the internal operations of the company and evaluate the assets and the earnings of the organization. The internal auditor of the company has to evaluate the risk management of the company and assess the governance policies and evaluate whether that the internal processes are in order. Review and critical analysis of the processes of the business has to be conducted.

The recruitment policy of the company is simple and is based on merit. Proper screening test of CV, competency and skill test and interview are the recruitment process of the organization.

Personal Value Proposition

Competitive advantage is an important aspect for any product or person that intended to be marketed. For an employee, it is critical that there are critical light that is shed on the abilities and skills of a person. The completion of the third work term highlights the necessary work experience that is required to highlight the skills and expertise of a candidate. The three prior work experiences depicts the job profile of the candidate, named  that adequate harnessing of the skill has been made. In addition to this, the experience of working in formal organizations and the knowledge of the business world is critical for a candidate to effectively discharge services and duties. It can be seen that the job profile of the accountant and the sales man has given adequate knowledge of clients and business operations. It has enabled smooth and efficient communication pattern that would enable a person to communicate and enable learning and team spirit that is required for a person to effectively work in an organization. Sufficient and in-depth knowledge of finance and experience of finance practices provides the necessary competitive advantage to work in reputed organization and handle critical assignments. The prior work experience provides the necessary exposure and competency to people handle and sustain the pressure of work in organizations.

Reference List

Wright, R. A. (2016). Motivation theory essentials: Understanding motives and their conversion into effortful goal pursuit. Motivation and Emotion,40(1), 16-21.

Greene, J. O. (2013). Message production: Advances in communication theory. Routledge.

Kolb, A. Y., & Kolb, D. A. (2012). Experiential learning theory. InEncyclopedia of the Sciences of Learning (pp. 1215-1219). Springer US.

TD Bank | Personal Banking, Small Business Banking, Mortgages and Loans, investments. (2016). Tdbank.com. Retrieved 1 September 2016, from https://www.tdbank.com

Concentra. (2016). Concentra.ca. Retrieved 1 September 2016, from https://www.concentra.ca/

BoomGrades.com is known for providing well-regarded coursework writing services that exactly meet the students’ needs. Our each assignment is customized as per the provided guidelines and maintains originality involving latest information on the researched topic. Hence, students receive 100% plagiarism-free top-quality well-structured coursework help solutions from us. In addition, we offer 24×7 live support to ensure that students get uninterrupted coursework writing help when they need it most.