What made you want to intern with this business?
As a native of the Washington, D.C. area, many of my neighbors and adult friends work for Lockheed Martin Corporation, so there has always been a bit of fascination on my part with what this company has to offer for the young professional. Securing this internship was critical in determining my career path, so the opportunity to work in the domestic tax department was a perfect place for me to start. After meeting with Ms. Neville and Ms. Barun, I knew that if I was offered this opportunity, I would do my very best to learn everything I could from them and the corporation this summer. Choosing Lockheed Martin’s offer over two other positions was simple for me since I knew that a large corporate setting would provide me with strong mentors, interesting hands-on work experience, as well as give me a chance to see if my interests and skill set would be suited for this type of work environment in the future.
What are your internship responsibilities?
As part of my internship, I have prepared calculations for subsidiary 2nd quarter 2014 state estimated income tax payments. If a payment is required, I also prepare an EFT (electronic filing), check request and voucher so that payment can be made and mailed to the state.
I was also assigned several state analyses related to rent expense, intercompany rent income/expense and partnership apportionment to prepare for use in the 2013 state income tax returns.
I assisted the domestic tax compliance staff with the preparation of the 2013 state income tax packets. Preparing these packets includes calculating the state adjustments for depreciation, analysis of the property, payroll and sales apportionment data provided by the business units, and preparation of the pro forma 1120 federal returns along with the supporting schedules for applicable subsidiaries. These would then be filed with the 2013 state income tax returns.
I will also be assisting with the 2nd quarter close by analyzing and processing my assigned federal tax packets provided by the business units. This analysis is used in the calculation of the Lockheed Martin Corporation consolidated quarterly federal estimated tax payment for 3rd quarter 2014.
All of these tasks have required that I learn how to use both CorpTax software (tax returns, estimates, reports, queries) and SharePoint (document storage). Also as a part of the intern program, I was able to attend several events to provide me with a better understanding of how the business is structured and operates. We toured the Global Vision Center, which houses facilities used to demonstrate Lockheed Martin`s products to customers. Several meetings with vice presidents and above in different functions are scheduled for the interns including careers in human resources, finance, corporate strategy, engineering, legal and ethics and sustainability.
How to you think you might apply what you've learned in your internship to classroom or career situations?
I have learned very quickly that attention to detail is one of the most critical pieces to working in the field of accounting. Precision is key and communication with managers as well as fellow co-workers allows for work to be completed at the highest standard without sacrificing quality. I will also apply how time management determines success. With priorities and time management skills, work can be done in a timely fashion and deadlines can be met without involving panic. I take pride in my organization skills, but with learning to manage several more tasks than I am used to, I can prioritize and conquer any task or assignment that I may face in the classroom, in a future career setting or in my community.
What is a life lesson you have taken from your internship?
One life lesson that I will take from this internship would be the fact that I know very little about what real work-life experience is all about. My typical day begins at 6:20 a.m. with the early morning rise and making sure I have a good breakfast to last me through the morning. Next, I jump in my car and am on the road no later than 7:10 a.m. so that I can beat any major traffic. Luckily enough, I drove this same commute to high school, so I have quick back roads to save time. I arrive to work no later than 7:45 a.m. and log onto my computer. At this point, my workday begins. Sometimes there are meetings, but mostly individual case file work. I have met many other people within the corporation, but when you are on the clock, it is work time. I take a quick lunch break at noon and then back to work until the end of the day, which ends for me between 4:30 and 5 p.m. I then grab a quick snack and head off to the gym to workout. I arrive home around 7 p.m. just in time for dinner. At the end of the day I am tired, but I can honestly say that I have learned something new each day, which is exactly what I had hoped for when I signed the internship contract with Lockheed Martin Corporation.
One other life lesson that I would like to share is that do not be afraid to ask questions. One may be hesitant being in a new environment surrounded by professionals to ask questions, but the only way one will learn and succeed is to ask questions and seek clarification and answers.