Interning with Plansee USA
Name: Joanne Ferullo
Hometown, State: Franklin, MA
Internship Sponsor: Plansee USA
- Review and update intercompany transfer price documentation incorporating Thomson Reuters comparable company data and complete contract documentation supporting intercompany transactions
- Manage fixed asset records by reconciling physical documentation with electronic ledger and scanning each asset record to its own file (approx. 200 assets)
- Itemize asset additions and disposals calculating gains or losses on disposals
- Tie-out numbers to G/L account balances
Plansee USA engages in the machining, fabricating, and selling/distributing of refractory metals and refractory metal products, and transforms semi-finished products into components ready for installation, including everything from small parts for X-ray tubes to ready-assembled hot zones for high-temperature furnaces. They work with the latest high-tech equipment to create new and improved cost-effective products with the best designs. Throughout my internship, I have become acquainted with Plansee’s assets as well as their processes for organizing, maintaining and valuing them.
While studying the intercompany transfer price documentation, I analyze Plansee’s arm’s length price, their functions and risks analysis, and other concepts, which have been discussed in my accounting courses. Throughout my analysis of Plansee’s asset documents, I have learned about the many components that go into each asset record and of all the equipment needed to satisfy the business. Because of classes which I have taken, such as Intermediate Accounting and Cost Accounting, I am able to better comprehend the documents and valuations.
Between updating documents and classifying and arranging others, I have developed expertise in my Excel skills as well as advanced my experience with the many features of Microsoft Word, such as the side-by-side document review. I have learned to adapt to a working environment and become my own leader in the projects assigned to me.
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