Marlan S. Bustos 26 April 2006 My Internship Experience July 5, 2005–September 29, 2005 Student Assistant in the Audit Program Tax Branch Subdivision State of California Employment Development Department EDD State of California Employment Development Department (EDD) Not long after the Stock Market Crash of 1929, EDD opened its doors to help the community in July of 1936. EDD is an Unemployment Insurance Program EDD administers different programs and services for Californians Tax Branch Subdivision in EDD is: California’s largest tax collection agencies in the nation It is 2nd largest collector compared to the Internal Revenue Services who is ranked the 1st. It’s objective is to generate money EDD Tax Branch Services • Audit Books and Records of Corporations, Sole Proprietorships, Partnerships to ensure proper reporting of wages and personal income tax withholdings • Educate businesses to comply with State rules and regulations and notify them of consequences for deterrence • Reduce Personal Income Taxes • Court Appeals A Student Assistant is given opportunity to: Prepare for becoming a Tax Auditor Learn policies, procedures, and techniques (CUIC Section Code 621B: Employee Recognition) Performs computations, programming, and analyzing data (Reduce Personal Income Taxes) Assist in research, analysis, review, and other related activities in the audit process (data from Employer/Worker) How did I acquire this opportunity? Student Internship Presentations Applied to different firms and government agencies Student Assistant in the Audit Program 4 Major Assignments ***Due to Confidentiality, Company names will not be compromised in order to protect the reputation of the business. Types of Industry will be mentioned. Audit Lead Management System Employer contact and Appointment Scheduling; determine level of difficulty in acquired Cases Obstructed Claim Follow-Up Investigations Status determinations, Wage Assessments Field Audit Shadowing I assisted Tax Auditors who independently conduct Tax Audits, Investigations, and Examinations of Business Employer’s books and records of average difficulty for the purpose of determining status and/or liability and gain compliance under the provisions of California Unemployment Tax Code. A Tax Auditor is also responsible for determining subject wage information in completing Benefit Program assignments. Personal Income Tax (PIT) Abatements Reduces Liability of the company Relevant Courses CIS 310 Computer Information Systems FRL 201 Business Law ACC 311 Intermediate Accounting I ACC 418 Forensic Accounting **ACC 419 (Audit Theory) & ACC 431 (Introduction to Taxation) are also recommended but experience is more helpful in learning these courses What did I learn during My Internship? On-the-Job training and experience in Auditing Codes and Laws of the State Workforce Improved: Team Work Communication Skills Quick Judgment Decisions Internship Advantages: Gain experience in all aspects of Accounting Meet new people, new connections Able to determine your personal goals and career objectives Possible Full-Time Job opportunity after Graduation 3 Reasons a Student should acquire an Internship: 1. You can put your education into practice 2. Prepares you for the Future 3. It helps you decide what your interests are in the Accounting Field Any Questions? Log on to: < www.edd.ca.gov > For an Application and Job opportunity listings: < http://www.spb.ca.gov/employment/college_student_employment.htm > < http://www.spb.ca.gov/employment/stateapp.htm >