Part 1 – 1.54 Internet Exercise: Professional Certification (worth 6 points)Read the instructions on page 34 of your textbook. Your answer to this exercise must set forth all of the following information:
(a) The names and websites of the state board of accountancy and the licensing agency for CPAs in Illinois.
The names of the state board of accountancy in Illinois is Illinois Board of Examiners, and the website is http://www.ilboa.org. The licensing agency for CPAs in Illinois is Illinois Department of Financial and Professional Regulation.

(b) The educational requirements that must be met to sit for the CPA Exam in Illinois after July 1, 2013. (Summarize; do not simply copy/paste.)

Beginning July 1, 2013, the requirement of sit for the CPA Exam in Illinoise is as below: A) an applicant must provide proof of successful completion of
1)150 semester credit hours, as defined, of college or university study that includes an accounting concentration or equivalent
2) a baccaluaureate or higher degree,
3) the requirements set out in subsection (C)(3)
B) Applicant who have taken the Uniform Certified Public Accountant Examination at least once before July 1 2013 may take examination under the qualifications in effect when the examination was first taken

(c) The requirement(s) that must be met before a CPA certificate can be issued.
The Illinois CPA certificate is issued upon successful completion of the CPA examination and “Professional Ethics: the AICPA’s Comprehensive Course.”

(d) The work experience and residency requirements, if any, that must be met before a CPA can be licensed in Illinois.
In order to perform the audit and attest function in Illinois, you must fulfill a one-year experience requirement to qualify for a license to practice as a Licensed Certified Public Accountant.

(e) The additional requirement(s) that must be met before someone can hold themselves out as a CPA in Illinois (i.e., use the letters “CPA” after their name on resumes, business cards, websites. etc.).
Two licenses are issued to individual CPAs in Illinois, one is Registration License, another is Certisfied Public Accounting License, someone MUST hold at least one license in order to hold themselves out t an as a CPA.

Part 2 – 11.61 Subsequent Events––Internet Exercise (worth 4 points)
Read the instructions on page 486 of your textbook and complete the first four requirements (parts a through d) of the exercise a) what is a subsequent event?
Events occurring between the date of the financial statements and the date of the auditors’ report. b) Access Dole’s 2009 10-k (filed in 2010) from the SEC’s website( www.sec.gov)
1 what is Dole’s fiscal year-end?
Fiscal year end is Dec, 31.
2. what is the date of the auditors’ report?
The date of the auditors’ report is Feb, 24, 2010
3.when was Dole’s 10-k filed with the SEC
The date of Dole filed with the SEC is Feb, 24, 2010 c) Given your answers in (b), does it appear that this event meets the definition of a “subsequent event”? why or why not?
The event is not meet the definition of a “subsequent event”. Because the earthquake is happened on Feb, 27, the date after the date that the audit report issued. d) Assuming that this event did meet the definition of a subsequent event, would you classify it as a subsequent event that relates to a condition that existed at the date of the financial statements or one that arose after the date of the financial statemet?
The subsequent event that relates to a condition that existed at the date of the financial statements is be classified as subsequent events , but it would not be indicative at the balance-sheet and the adjustment of the financial statements would not be adjustment.
If the earthquake arose after the date of the financial statement, it should be indicative in the disclosure or footnotes. It should be classified as subsequent event. * Part 3 – 12.55 & 12.56 (worth 20 points)
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