Accounting, Finance, Economics, & Decision Sciences

Accounting, Finance, Economics, and Decision Sciences Internship Program Information

What is an Internship?

The School of AFED's internship program is one that provides students with supervised practical work experience which relates to their field of study while obtaining university course credit.

Purpose of an Internship

To provide an opportunity for practical application of classroom theory in professional field work, and also to provide practical experience for college students who are contemplating accounting, business analytics, decision sciences, economics, or finance as their career.

Objectives

  1. To provide the student with insight into the practical aspects of an organization’s operation through observing and participating in day-to-day activities.
  2. To acquaint the student with individuals employed in his/her prospective profession or occupation.
  3. To learn and participate in functions performed in a chosen field and to assist in determining if the profession or occupation selected is compatible with the student’s personal goals.
  4. To provide the organization with potential employees and an opportunity for the organization to determine if the student would be compatible with their firm.
  5. To make academic work more meaningful for the student through observing the practical application of principles and the exchanging of information with practitioners.
  6. To assist in developing an understanding and appreciation of human relations in an organization.
  7. To increase the interchange of ideas between students and managers in successful business firms.

Selection Eligibility

All students must:

  1. Meet course (ACCT 420/620, DS 494/599, ECON 494/599, FIN 400/620) prerequisites as stated in the catalog.
  2. Receive school approval in regard to good academic standing.
  3. Receive school approval in regard to good judicial standing.
  4. Receive school approval of internship site and work assignment.
  5. Must be eligible to register for internship course.

Selection Process

Students may apply to any approved participating organization or initiate an intern program with a business with approval from the school director. In addition, the following criteria will apply:

  1. Interns will be evaluated or screened based on organization needs and requirements, and will be expected to perform activities outlined by the school director and the business supervisor on the job.
  2. Participating firms may accept or reject intern applicants based on their established employment criteria and job requirements.
  3. Unless permission is granted by the school director, no other course work should be taken during internships that exceed 9 s.h.

Compensation

The essential factor of the internship is the education and experience the student receives from the opportunity the employer provides. If the intern is to receive a salary, the amount should be determined prior to beginning the internship.

Course Credit

One hour credit may be given for a minimum of 40 hours worked (relevant work), subject to completion of course requirements.  If successful, a grade of Satisfactory (S) or Unsatisfactory (U) will be based on both supervisor and school director evaluations.

Responsibilities of the Student

The student must register for the determined number of hours in the semester for which the internship to be completed. In addition, he/she:

  1. Must complete the internship academic requirements as specified in the online course associated with your internship
  2. Is expected to comply with all pertinent university rules and regulations, and all policies, rules, and regulations of the participating organization.
  3. Will communicate with the firm and the school director. The director may communicate with the intern’s supervisor before the student will be approved for the internship.
  4. Is expected to:
    1. Observe regular attendance and punctuality on the job,
    2. Be cooperative and conduct one’s self in a responsible manner,
    3. Maintain a positive attitude toward work, and
    4. Assume responsibility for travel to and from the job.
  5. Upon approval, students must submit a signed copy of the following:
    1. Application
    2. One page paper explaining what the student expects from the internship
    3. Internship Agreement
    4. Insurance Coverage
    5. Waiver and Release

Responsibilities of the Supervisor

  1. Prepare an outline of what the intern will be doing during the term of employment. This should be given to the student on or before his/her first day. A copy of this itinerary should be forwarded to the school director's office for his/her files. Deviations from the planned schedule may result, however, due to unforeseen events and opportunities throughout the program.
  2. Submit a summary evaluation of the intern at the mid-point and at the end of the internship.
  3. Ensure the intern gains experience and learns as much as possible within practical limits. The supervisor should also try to expose the intern to the different areas of the company.
  4. Any major difficulties with the student or the schedule should be immediately brought to the school director's attention.

Responsibilities of Western Illinois University

  1. An Internship Packet is completed by the student and maintained by the school during the internship. The packet includes the resume, a statement of insurance coverage, a waiver and release form, and a student/company expectation form.
  2. The agreement between the participating business and the internship program will be defined so that all parties are aware of the job and its requirements.
  3. The reports submitted by the intern are evaluated by the school director.
  4. A final grade (S/U) is determined for the internship experience for each student based on the reports, evaluations, and research paper, if required, submitted.

Submit an Internship Application