My first week with Tate & Tryon has gone very smoothly. All the employees that I have met have been very welcoming and kind - there are many of them, and it has been quite a struggle learning their names. One of my favorite aspects of the internship program is that almost immediately we began learning practical skills. Our first few days were filled with a crash course of the "epace" program which is used during the audit and tax process. It was a lot of information to absorb in a short period of time, but as we progressed things became clearer. We were assigned a client and were told to perform the job of planning for the upcoming audit, also that what we were doing was going to be used by the auditors in the field. To say the least I was terrified that my lack of understanding might cause more problems, and take time away from others, rather than ease the process. This feeling was shared by my fellow interns. We joked that we would probably all be fired when they saw our work. But as we spent more time with the program and the documents within, we all became more comfortable and confident that we were moving in the right direction.
The next couple days were spent on the tax side of things. We learned the dynamic between the audit and tax department, and that the tax people use the audited financial statements and compiled documents to prepare the tax returns for clients. Because the tax form 990 has recently changed, and many staff members are still becoming acquainted with the details of the forms, we are not going to be compiling them ourselves. Apparently this is something for which to be grateful. Instead, we learned how to group accounts, a process which makes compiling the tax return much easier. Although I could see this process being somewhat tedious when there are thousands of accounts, for our practice we had a mere 200 accounts to handle, which was just enough to learn. I found grouping to be somewhat satisfying. I'm told my attitude may change when I'm faced with a more daunting client's file. When I saw how easy it is to compile a tax return once the accounts are grouped, it gave me a greater respect for the process.
Last night the firm sponsored a Happy Hour at Gordon Biersch. Unfortunately I still have 5 months or so before I'm 21, so the experience was bitter sweet. Even though I didn't partake in the "main course," it did give me a chance to see first hand that Tate & Tryon values its employees, treats them well, and encourages them to become friends. It is clear that that the staff enjoy each other's company, and that there is a very healthy dynamic between professionalism/productivity and friendship/camaraderie. I am greatly looking forward to the upcoming weeks when I'll be working in the field and seeing my training in context.
Seth Pates
William and Mary 2010
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