Internship Program Details
The accounting department offers two internship courses, Accy 290 (Professional Internship in Accountancy) and Accy 590 (Advanced Professional Internship in Accountancy). ACCY 290 is a zero credit course, and does not provide students an opportunity to earn credit toward graduation. Accountancy majors enrolled in the department’s integrated bachelor/master program or students with a graduate standing in accountancy may apply to enroll in Accy 590 for 2 hours of graduate credit. The Department approves Accy 590 enrollments based on the quality of the proposed academic project, the nature of the internship work experience, and the prior academic achievement of the student.
Most graduate and undergraduate students register for Accy 290 as the zero credit enrollment provides them with full-time status at the University during the semester of their internship. Full-time status is required for international students seeking Curricular Practical Training (CPT) and may also be significant to a number of external parties such as an insurance carrier, scholarship or financial aid provider. International students who are working in the United States on a student visa need to meet with an advisor at ISSS (333-1303) before considering any form of off-campus employment.
Graduate and undergraduate accounting students with a qualifying accounting related internship (see Nature of Employment below) have three possibilities with respect to course enrollment during the semester of their internship.
- Students wishing to earn academic credit. The accounting department does not currently offer a course which allows undergraduate students to earn academic credit for their internship experience. Students with departmental approval may earn 2 hours of graduate credit by enrolling in Accy 590. This course is only available to accountancy majors enrolled in the department’s integrated bachelor/master program or students with a graduate standing in accountancy.
- Students who require full-time enrollment status (for CPT, health insurance or other reasons) during the semester of their internship. These students have two choices:
- Qualifying graduate and undergraduate students may, with departmental approval, register for zero credit in Accy 290. Students who do so will be considered full time at the University during the semester of their internship (for spring and fall interns, full time status is only possible if the student does not register for any additional coursework).
- Qualifying graduate students may, with departmental approval, earn 2 hours of graduate credit by enrolling in Accy 590. Students must then register for enough additional course work to be considered full time at the University during the semester of their internship.
- Graduate and undergraduate students who do not fall in to one of the above two categories. These students do not enroll in any internship course during the semester of their internship. The majority of students with accounting internships fall into this category. See frequently asked question #3 for additional items that students should consider before taking a semester off for an internship.
Nature of Employment
Both Accy 290 and 590 are intended to serve students who during the semester of their internship are undertaking full time, off campus employment in the field of accounting. Credit (even zero credit) is not given retroactively, meaning students must be registered for the internship course during the same semester that the internship occurs. The internship does not have to be in public accounting, but could instead be in a corporate accounting department or a governmental entity. Additional considerations include:
- Qualifying internships may be paid or unpaid.
- Finance related internships do not qualify for accounting internship credit.
- Part time employment in the field of accounting does not qualify for internship credit.
- Full-time employment of a permanent nature is not considered a true internship, and therefore does not qualify for internship credit. This means that students may not accept a permanent job and then use the internship credit as a mechanism to finish up a degree while off campus