We are a little past the half way point with our internship program and just completed our midterm! The midterm was based off creating the financial statements for a company including the income statement and cash flow on an Excel spreadsheet, along with answering cognitive short answer questions about business decisions, such as which third party vendor to work with when comparing two.
Long story short, the midterm challenged me in every way. Not only had my brain already mentally checked out of school mode after graduating from LMU in May, but forced me to relearn and touch up on my Excel skills that I haven’t used since my business computer classes. (One of my LEAST favorite classes throughout college; almost as painful as accounting).
Although the midterm did challenge me, it allowed me to take away things I had not known about small businesses, such as warehouse logistics. Since this is my first time in this type of setting I was able to understand when to order shipments, the type of payments you make throughout the transaction, and what companies compare when looking at two third parties when choosing one to work with. Although tests are typically no bueno in my book, this midterm did help in areas I did not think it would.