This essay has been submitted by a student. This is not an example of the work written by our professional essay writers.Assessment 3
Currently I am doing Associate degree of Accounting from St George TAFE. I am in my final year of this course. The internship placement is a compulsory component of this course. I carried out internship in two different organisations. First work placement was, the finance department of Kareena Private Hospital, and second internship was carried out in Student Association Office, St. George TAFE. At the beginning of the internship, I set a number of goals, which I aimed to achieve during my internship. I wanted to gain skills and knowledge in a professional environment. I was keen to understand and practice accrual accounting, budgeting and the accounting procedures of Kareena Private Hospital. I aimed to develop the skills in ledger accounts, journals, and cash receipts and cash payment journals.
This internship report comprises on my work on multiple tasks, projects and activities carried out during my internship. The first part of the report is a brief overview of the organisation, my internship activities and reflection on my internship at Kareena Hospital. The second part consists of the introduction and the objective of the student Association, my internship activities and reflection on internship. The final part of this report reveals the influence of my internship on my future career plan.
1-Internship at Kareena Hospital
Brief over view of the organisation
The Kareena Hospital provides patient care, special veteran’s services and stoma care in alliance with Ramsay Health Care. It is a teaching hospital affiliating with the University of Sydney and the University of New South Wales. It complies with international hospital standards and provides quality of care and services to the patients. Kareena hospital has strong commitment to support its staff through learning and development programs.
My Internship Activities
I completed 39 hours of internship with the finance depart of Kareena hospital. On the first day of my internship, the director of the department introduced me to the Work Health and Safety (W H&S) manager. She inducted the policies and procedures of W H&S implemented at Kareena Hospital. That was a quick orientation and induction session. I met with a number of staff members of the finance department. Each member was responsible for a specific job, such as one person was responsible for the collection and the payments to the external contract .Another administrative officer’s job was to reconciliation of the Medicare billing, electronic lodgement of claims, and liaise with medical professionals regarding referral and follow up accounts. The assistant accountant was responsible for maintaining the accounts receivables and account payables.
During my internship period, the director of the finance department assigned a number of tasks to me to do and advised me to get help from her assistant accountant, whenever required. I worked on the following tasks:
I was given some contract files. My task was to record all the information regarding the starting date of contract, the period of contract, the expiry date, the charges, and the renewal terms of contract. There were different contracts. Most of the contracts were related to the lease of the premises of the hospital to different health practitioners. Some contracts were between Ramsay Health Care and the external service providers for the services acquired by the hospital.
I was given a task to do a snapshot of account receivables, unbilled revenue, cash collection and bad debts. I was asked to use pivot tables to extract the data and create charts. I was not familiar with pivot tables. So I started looking for the methods to understand pivot tables. I was also advised by the director of my internship placement that I need to enrol in some excel training program as they are very important in accounting field.
I was given a report on laundry expense account. The finance department receives laundry invoices and process them, but sometimes they do not get the invoice, so they accrue the account by estimating through the previous month’s expense accounts. My task was to find out that how many invoices were missing from the data for the last six months. I filtered the data for the account invoiced in last six month and sorted out the date of services which were invoiced and also recorded the missing dates as well.
Reflection on my internship
I am currently working with NSW Health, and was interested to work in the similar environment. I was very happy when I got the opportunity to do my internship at Kareena Hospital. I wanted to learn and develop the understanding of the accounting procedures of the hospital. I was expecting that I would gain knowledge of different software programs, such as Oracle, SAP, IPM, and E-Claim, but the tasks, I was given were completely different from my expectation. That was more focused on the use of excel. I was given the reports to extract the data, to make the graphs, to create pivot tables. I knew the basics of excel, so I made graphs, and summaries the information just by filtering the data, and spent more time on learning, how to use pivot tables, through internet and books. The director of the department, emphasised on excel so much that I felt, that excel knowledge is more important than the degree, I was doing. I started losing my confidence, but then I started looking into the positive aspects of the tasks, I was given to do. The unbilled revenue reports and the laundry expense reports, helped me understanding, how the hospital manage its accounts receivables. Similarly the laundry expense report, made me analyse, that how the department deals with account payable and accrue the account. I got an opportunity to discuss with Medicare reconciliation officer, about her duties. This discussion enabled me to understand, electronic lodgement of claims, monitoring the system for efficiency, recording claims and payment details in excel spread sheet. Although I could not complete my internship hours at Kareena hospital due to unexpected circumstances, but still I believe that I managed to gain understanding and knowledge of the different job roles and responsibilities in accounting department
2 - Student Association
Overview of the Organisation
The Student Association is a not- for –profit and non-political organisation, which provide services to students to facilitate their educational activities. St George student Association is committed to facilitate its members with quality services and activities for their cultural, recreational, social intellectual and physical development needs.
My Internship Activities
I got an opportunity to complete my internship hours in the student Association Office, St. George. I met with the Student Association Manager, before starting the internship. She told me that I needed to work on the preparation of the next year budget and also end of semester stock take.
The budget Build up
The manager of the student Association gave me the copies of the last two years budget and asked to make a proposed budget for 2015. She clarified all the details related to the budget, and explained that there might be a decrease in the number of student Association Members, due to high TAFE course fee next year. After careful analysis of previous year budget, I was able to calculate the forecasted revenue and the expenses. I prepared the budget based on the numbers of the Association members. There was a 25% deduction in the budget, so I reduce the budgeted amount in non-performing and non-productive areas.
End of Semester Stock Take
I counted all the stock on hand from 2013 and 2014. I calculated the total costs of these items and presented the report to the manager. This report may help to order the stock in future.
The student Association actively organises different voluntary events. During my internship period, I involved in the pink ribbon fund raising event and raised the donations for breast cancer, by selling pink badges, pink pens and offered cakes and coffee, for dollar donation.
I was also engaged in other activities such as, customer service, cash handling, binding, laminating etc.
Reflection on my Internship
The student Association was very nice place to work. The working environment was very friendly, cooperative and was well organised. The manager and the staff members involved me in all activities. They appreciated my overall performance, especially budget build up skills. Through this internship, I was motivated towards volunteer work and would like to participate in the future events held by the student Association.
The influence on my future career plan
Over all, my internship was a useful experience. I have gained knowledge and developed skills in different areas of accounting profession. I met many new people and learnt about their job responsibilities. Though I did not get the opportunity to acquire knowledge in some areas of my interest, but I achieved many of my learning goals. After the completion of my internship, I strongly believe that I have the ability to work in accounting profession. I would like to improve accounting techniques and methodologies at basic level. First few years, as graduate accountant work experience will groom me to meet challenges of local and global accounting and will enable me to exercise my skills at higher level in future.
- Kareena Private Hospital
2. Health Accounting Manual for Public Health Organisations 2014
- Sydney TAFE Student Association 2014