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Paragraph Styles ANSWCK ALL QUESTIUNS: WWWWW Question 1 (This question provides evidence for CILO1 C/25 marks) Jassim Mohammed started his job as a financial accountant in oil exploration and extraction company since 2011. During this period, Jassim continued his studies and got certified as a Management Accountant (CMA). Jassim is now ready to catch the new promotion in the same company but as a management accountant The ex-colleague Salman is arguing with Jassim regarding his new role. Salman believes that the Management Accounting role is similar to the role of Financial Accounting. As an accounting trainee in BTI, you are required to clarify the following to Salman: 1.1 Explain two codes of ethical conduct Jassim must adhere with in his new role as management accountant assuming he faces the following situations: (4 marks) A EE IM 1 T 21 1 AaBbCc AaBbc AaBbCct AaBbc T Normal Title I No Spac... Heading 1 RE hot SE " Paragraph Styles Ed 1.1.1 One Friday afternoon, Jassim received a geologist report on updated forecasting of oil price. It indicates a much higher increase of oil than had been previously expected. Jassim is the only one to read the report that day. That information will affect the profit of the business and if considered, the business will get the maximum profit it aims for but if ignored, the business will incur a huge loss. On Saturday night, the general manager asked about the oil forecasting report. Page 4 of 17 1.1.2 An oil industry stock analyst invites Jassim and his wife to spend a week in his chalet free of charge. All he wants in return is to be the first to know about any financial information Jassim's company is about to announce to the public. 1.2 Jassim's company plans to purchase a new, more automated machine that will be used in extracting oil from the earth. The new machine will replace some labour from operations. He has a meeting with his accountant to discuss the possible information needed to help in making an accurate decision in purchasing the machine. 1.2.1 What are the possible points Jassim needs to consider in order to make a justifiable decision? (2 marks)