Accounting Intern
2021 ACCOUNTING INTERNSHIP
CincyTech - Accounting Intern
Company Information
CincyTech is a public-private partnership whose mission is to invest in high performing life science and technology companies in Ohio. Our team provides advice and capital to entrepreneurs, helps research institutions commercialize technology through startups, and catalyzes investment from individuals and institutions into regional companies.
We provide the following services:
- Seed-stage investments through early stage venture funds.
- Connections to a network of resources for assistance.
- Management assistance to help accelerate the growth of promising technology companies.
- Capital formation assistance to provide access to current follow-on rounds of capital from angel and institutional investors regionally and nationally.
Reports To: CincyTech Accounting Manager and CFO
Location: The 1819 Innovation Hub, 2900 Reading Road, Suite 410 (Currently this role is operating remotely.)
Duration: This is ideally a full year position with a start date in May/June 2021, and work 15 to 20 hours per week throughout the year, with full-time work (40 hours per week) in January through April 2022.
Position Overview
Support CincyTech’s daily finance and operational needs to close financial statements for both our operating entity, and our funds. There will also be exposure to regulatory and compliance work (we are an SEC Exempt Reporting Advisor), tax compliance and planning, and some grant accounting with the Ohio Development Services Agency (ODSA) and CincyTech’s subgrantees.
This position is ideal for an accounting major who is interested in experiencing every aspect of the financial planning and accounting process, including working with accounts receivable, accounts payable, financial statement preparation, venture fund accounting and distribution waterfalls, investment valuations, audit preparation, and tax returns.
Candidates should have an interest in small business accounting and venture capital fund management and accounting. Interns will receive direct coaching from CincyTech Accounting Manager and CFO --- both of whom have Big 4 accounting backgrounds and are familiar to coaching interns. Unlike many larger company internships, this is not a pre-scripted position and can become as advanced as the individual desires. It will be hands-on learning and a blank slate to be scripted with the intern’s input.
Job Responsibilities
- Track fund cash weekly and work with the Accounting Manager to execute fund capital calls and distributions, as needed.
- Facilitate timely close of CincyTech financial statements and manage day-to-day CincyTech finance and operational needs, including accounts receivable, accounts payable, time and expense reporting, State/ESP invoicing and general cash management.
- Drive improvement and documentation of internal control processes and policies, and assist CFO directly with compliance and regulatory documentation.
- Work with external auditor and manage the fund audit process day-to-day during year-end.
- Work with Accounting Manager to gather all necessary tax information from portfolio companies and review fund tax returns; manage distribution of K-1s to investors.
- Close the CincyTech fund financial statements and create quarterly and year-end reports for investors and other stakeholders; manage distribution of reports to stakeholders.
- Assist CFO with preparation of Board materials, as needed.
- Assist CincyTech with standing up a better finance and operational platform for onboarding portfolio companies, including some direct assistance with accounting, and potentially pro forma (forecasting) models.
Travel: Travel is not required.
Candidate Qualifications
- Third- or fourth-year accounting major (must have completed 200-level accounting courses at a minimum)
- Interest in venture capital fund accounting
- Interest in venture capital/startup ecosystem and fast-paced work environment
- Strong communication, organization, and prioritization skills
- Proactive, self-starter
- Ability to work independently and collaborate in small teams
- Intellectually curious
Compensation: $15-20 per hour
If interested in applying, please complete our application form: https://airtable.com/shrXNd9mqXM9YFtQv