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My Summer Internship at Cleary Gottlieb Steen & Hamilton

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Meghan Riccardelli

on 6 August 2014

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Transcript of My Summer Internship at Cleary Gottlieb Steen & Hamilton

Why the Tax Department is necessary for the success of the firm
What I Learned
Client Profitability
The Role of the Client Profitability Department
What I Learned
My Role in the Tax department:
Foreign Bank Account Reporting
Fixed Asset Reconciliations
Partner Tax Allocations
Reviewed Tax Invoices
Travel Report Analysis
My Role in the Client Profitability department:
Request for Proposal (RFP) Project
Preparing and checking reports on the performance of firm clients
Supporting month-end process for July
Slides highlighting the firm's client Secondments
To confirm our books and records comply with tax regulations
To make certain all taxes and tax returns are paid on a timely basis
Given an introduction to Elite software
How involved the tax department is in daily operations
Be aware of how different tax rules apply in different offices around the world
To maximize firm profits
To provide financial reporting and analysis
To assist with client rate negotiations and billing arrangements
To prepare reports for internal firm presentations/meetings
How to use Redwood software
How to prepare reports on client performance
Factors that affect the profitability of the firm
Variables weighed by clients when selecting law firms
Meghan Riccardelli
Accounting & Finance Intern
My Summer Internship at Cleary Gottlieb Steen & Hamilton, LLP
In Conclusion
Client Profitability
Functions of the Tax Department
Request for Proposal (RFP) Project
Internship Program
Assure that the firm filed and paid taxes and tax returns according to local statutory guidelines
Ensure accounting systems function in accordance with U.S. tax rules for global financial reporting
Coordinate tax withholdings from partner distributions with the Partnership Accounting Department
What I gained from this experience
Learning techniques
New coworkers and friends
Accounting software
Professional skills
Sort RFP questions and responses into different categories based on similarities
Compile into a database that can be referenced to help answer future RFPs
Components of Accounting and Finance
Client Profitability
International Accounting
Client Accounting
Financial Reporting
Accounts Payable
Personal Goals
Meet and gain experience from accounting professionals
See lessons taught in the classroom put into action in a corporate environment
Observe and participate in the accounting functions at an international Law Firm
Lunch and learns
Social events
Professionalism preparation
Full transcript