Lohn Caulder LLP is a firm of Chartered Professional Accountants that provide high-quality advice and service regarding financials and tax. I worked in the office throughout the work term, and it was my first time experiencing working in an office environment. A typical workday at the firm is working 7.5 hours, and the time to start work is flexible. However, near the end of my work term, I was required to work overtime and during the weekend. As a Staff Accountant at the firm, I was part of the T4 team, and my responsibility was to prepare T4 slips for shareholders and third-party employees for the first two months. Afterward, my work transitioned into preparing T1s for the rest of my work term. I also assisted the T5 team with administrative tasks when I had extra free time.
I joined the firm having little knowledge of the preparation of tax. Hence, I learned many concepts and rules of tax throughout my work term as I encountered many scenarios. For instance, employers with an annual payroll of more than $500,000 would be subject to an Employer Health Tax (EHT), which was new to me. I also had to work with new programs like Profile and CaseWare. In the beginning, it was challenging to navigate my way through the software. After some time, I slowly started to utilize the tools and features effectively in the software once I started to ask my seniors for assistance. I knew the shortcuts and functions, being able to navigate the software with no issues. Time management skills were essential in the job, and I had the opportunity to improve. I was given over 100 files to complete in a specific timeframe, so I had to organize my time effectively by setting personal deadlines. For example, I would work on at least eight slips each day and complete the necessary tasks within that day. The job requires having strong attention to detail skills, which was a struggle for me at first. However, I enhanced my attention to detail skills by using the advice from my seniors, and the job allowed me to get into the habit of double-checking my work thoroughly before any submission. My seniors contributed to my growth and success as they always took the time to help.
The skills and knowledge acquired at Lohn Caulder LLP will help pave the way for my accounting career. For instance, I can apply my attention to detail skills in my future job as many positions require that skill to succeed, reducing the number of errors in my work. The tax knowledge I have gained could also boost my capabilities in school and when I pursue my CPA designation. Overall, I am beyond satisfied with my co-op position because I further enhanced my experience in the field of tax, and the work culture at the firm.