Applying what I have learned

As my internship continues here at Equity Trust Company, I wanted to share with you one of the main projects I have been working on since I joined the ETC accounting team. As I have learned, there are many different entities within ETC that all have their own set of accounting books. Included in each of those sets of accounting books is an individualized chart of accounts. Each of these chart of accounts are quite similar, but they each have their own little differences. Each person coding transactions in a different department may have a somewhat different opinion as to what might be included in each account. With consistency and comparability being a main principle in accounting, it is important that all users know how to use each account and use it consistently in order to have comparable statements from year to year.

That being said, the accounting team and I are currently in the process of making a chart of accounts manual that will aide ETC employees in more consistently coding transactions to the general ledger. When I began this project, the knowledge I had gained from my accounting courses in college helped me tremendously in creating definitions and defining what each account should be used for. Once we are completed with the manual, it will be handed out to all employees for their daily use.

It is nice to know that my knowledge and abilities are being utilized within the company to help make a difference for the future. I am not doing mindless, meaningless jobs to simply fill my day. This manual will be used on a daily basis to help those not in the accounting department better understand the goals we have for the chart of accounts. Overall, it is reassuring to know that the knowledge I gained in college is useful in my everyday projects here at Equity Trust Company.