Q.1(A) Read the following paragraphs and answer the questions that follow. Mrs. A. Pandey was the marketing executive with a large conglomerate until five years ago, when she was made redundant. Given a reasonable settlement on her redundancy, she invested wisely in her own engineering business. Mr. Pandey is a mechanical engineer, and the husband and wife are in partnership in this venture. Of late, they have both realised that as the business is growing, they are feeling that they are not entirely in control of their situation. Despite having a good engineer and an experienced marketer, they were experiencing difficulties with maintaining targets, costs overruns were common and having difficulties in meeting delivery schedules. As a result, there reputation is being questioned and the image they have been able to build in a short span of time may be in jeopardy. They exactly did not know where they went wrong though they were fully convinced that they were committing fully and there was no sign of waning their motivation and dedication. As they were finding it difficult to pinpoint the reasons, they both fe that they need help from a management accountant. Required: 1. What is management accounting system? How does it enable to control systems? 2. How would you, as a management accountant, diagnose the problems? What advice would you provide to Pandeys on the aims and controls of a management accounting system for their business. [15]