does it make a difference which way the accent goes. For example is água the same as agua just with the accent facing the other direction?
esta (demonstrative pronoun) and está (verb "to be" conjugated). para (preposition), parar (verb "to stop", remember that we don't pronounce the last R) and Pará (a brazilian state, the same pronunciation as in "parar"). sabia (verb "to know" conjugated), sabiá (a type of bird). In the case of água, well, água is water, you already know, and if you pronounce it like "aguá", it will transform into the verb "aguar", which can have these meanings: http://www.priberam.pt/dlpo/aguar I don't know if that was what you were looking for when asked it, but I hope it can help.
not in this example, but it does make a difference in some few words wich i cant think of right now haha
i hear cavalo, but maybe its the V sounds thats making you get confused or the potuguese singing accent
My auto correct is making me make mistakes... When i wrote horse it corrects it as house, same with car when i try to write cat! I have lost many hearts to this... Very annoying...