PART A: each question can be answered with roughly four hundreds words, and academic references source of each answered questions

a) Do you concur with the statement that "Management accounting is the sole pertinent aspect of accounting skills that managers need, while other facets, such as financial accounting knowledge, are essential only for professional accountants"?

b) Discuss the statement: "Ensuring flawless execution of the accounting equation when recording financial transactions throughout the reporting period guarantees the precision of the information presented in the diverse financial reports."

c) The CEO of a cosmetic company allowed divisions to operate freely as long as they met targets. Various Division Heads welcome the decision. However, the Skin Care division struggled to meet targets, so its Head, Gavin Shoesmith, delayed discretionary spending. Yet, a purchasing officer ordered $275,000 of Argan Oil unnecessary as it was not needed until the next financial year. Argan Oil can spoil after two years, so the company had a policy of recording purchases as expenses upon delivery. Gavin tried to cancel the order, but it had been delivered though not paid yet. He asked the accounting department to defer recognition until the new financial year. Examine the reasoning behind Shoesmith's suggestion to the accounting department. Should his request be granted, from the stakeholder's perspective, would it be ethically sound? Explain why. Furthermore, does the practice of expensing Argan Oil adhere to the Accounting Standards?

d)Let's assume that the following table summarizes the 3-year average of the key highlights from the Cash flow statement of an established business:

Net Operating cashflow -9,000

Net Investing cashflow -2,000

Net Financing cashflow 10,000

Net increase (decrease) in cash -1,000

What are your observations here and thoughts about the business as a potential investor?

e) In order to increase your market share, you are strategizing to approach several new large businesses. As you assess them as potential clients, which key financial ratios or aspects would you prioritize from their financial reports, and why?