Eastvaco, Inc.

Nova Southeastern University

H. Wayne Huizenga School

of Business & Entrepreneurship

Assignment for Course: | ACT 5060 |

Title of Assignment: Case Analysis

CERTIFICATION OF AUTHORSHIP: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledged and disclosed in the paper. I have also cited any sources from which I used data, ideas or words, either quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course.

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Instructor's Grade on Assignment:

Instructor's Comments:

Eastvaco, Inc.

Financial vs. Managerial Accounting

1. Answer each of the two questions asked by Terry. Your answer should be in the form of a well prepared memo.

To: Terry Thompson

Date: February 11th, 2011

Subject: Qualifications for Accounting Positions

Please see below for qualifications of a Managerial and Financial Accountant.

Managerial Accountant

* Basic math background

* Formal education and training in the managerial accounting field

* Ability to read statistical reports

* Ability to take statistical reports and use them to forecast future endeavors

* Excellent communication skills

* Excellent problem solving skills

* 5-7 years managerial accounting experience

Financial Accountant

* Basic Math background

* Formal education and training in the financial accounting field

* Ability to read daily, monthly and annual reports

* Ability to create statistical reports based on past financial history of the company

* Excellent communication skills

* 5-7 years financial accounting experience

As you may notice, many of the qualifications overlap, with the biggest difference being for the Managerial Accountant having the ability to forecast into the future. Having this skill will help with the strategic planning throughout the company as we will...