PART ONE
1. Mini-Case EarthWear Introduction
The purpose of this mini-case is to familiarize you with the EarthWear Mini-case website (and, more specifically, the EarthWear Clothiers Investor and Willis and Adams, CPAs websites, www.mhhe.com/messier9e). These sites will be used for mini-cases throughout the semester and will provide hands-on applications for the auditing principles you will be learning. In this case, you will be asked to find several different pieces of information pertaining to EarthWear and its auditor, Willis & Adams, CPAs.
Find the information requested below and record your answers in the space provided as evidence that you've visited the sites. Remember that the purpose of this exercise is to become familiar with these websites, so please take a few minutes to look around. This activity is not meant to be difficult but the more familiar you are with these sites the more time you will save on future assignments.
1. Who is the current CEO of EarthWear?
2. How much did Accounts Payable change in dollars and percent from 2012 to 2013?
3. In which of the last 5 years was EarthWear's Net Income highest, and what was Net Income in that year?
4. Does EarthWear use the FIFO or LIFO inventory valuation method?
5. What 5 services does Willis & Adams, CPAs provide to clients? Refer to the Willis & Adams website?
6. What are the names of the three current staff accountants listed on the Willis & Adams website?
7. What is the date of Willis & Adams' most current engagement letter with EarthWear?
Attachment:- TERMProjectACCauditing.docx