Nama : Putri Mayang Rahayu
NPM : 27213022
Kelas ; 3EB08
The
presentation of financial statement
Hendrikson, Eldon. S
(1990) In 1917, the Federal Reserve Board and the Federal Trade Commission
recognized a need for standardization in the preparation of financial
statements submitted to bankers for credit purposes. Accordingly, the Federal
Trade Commission requested the American Institute of Accountants (AICPA) to
prepare a memorandum on standardized procedures. After this memorandum was
approved by the council of the institute and the Federal Trade Commission, it
was presented to the Federal Reserve Board for consideration. The Federal Reserve Board gave it tentative
endorsement and submitted it to bankers and banking associations throughout the
country for their consideration and criticism. The memorandum was published in
the April 1917 issue of the Federal
Reserve Bulletin and reprinted (with minor changes) in 1917 in pamphlet
form under the title Uniform Accounting and
again in 1918 under the title Approved
Methods for the praparation of Balance Sheed Statements. A revised edition
entitled Verification of Financial
Statements was published by the Federal Reserve Board in 1929. The 1929
edition, like the 1918 edition, set forth suggestions for the verivication and
preparation of statements specifically for credit purposes. The 1929 edition,
like the 1918 edition, set forth suggestions for the verivication and
preparation of statements specifically for credit purposes. The instructions
contained in this bulletin were submitted for use by auditors; the reporting
procedures as well as the auditing prosedures were given, and these were
believed to represent the best modern practice of the profession. The following
general observations on the content of the 1929 edition and the suggested
procedures regarding the balance sheet reflect some of the accounting thought
of the 1920s, but stem largely from the credit objective of the statements: (1)
most of the instructions relate to the audit and presentation of balance sheet
accounts, particularly current assets and current liabilities. (2) inventories
are to be stated at cost or market price, whichever is lower. (3) in regard to
the audit and presentation of fixed assets, emphasis was on the changes during
the period and a classification of the items included.departures from the cost
basis were permitted if disclosure was made regarding the basis of the
appraisal.
1. Hendriksen, Eldon. S (1990) In 1917, the
Federal Reserve Board and the Federal Trade Commission recognized a need for
standardization in the preparation of financial statements submitted to bankers
for credit purposes.
SAP 1
Subjek
|
The
Federal Reserve Board and the Federal Trade Commission
|
Verb
|
Recognized
a need for standardization
|
Complement
|
In
the preparation of financial statement
|
Modifier
|
Submitted
to bankers for credit purposes.
|
SAP 2
Verb
Phrase
|
Participial
Phrase :
· In the preparation of financial
statement = direct object
· Submitted to bankers for credit
purposes = modifier
|
Tenses
|
Past Tense = S + V2
|
SAP 3
Subject
- Verb Agreement
|
Subject – Verb
Agreement (Plural) :
· The
Federal Reserve Board and the Federal Trade Commission = Plural Subject
(They)
· Recognized = Verb (Past Tense)
|
SAP 4
Pronouns
|
Personal Pronoun :
· The Federal Reserve Board and the
Federal Trade Commission = They
|
2. Accordingly, the Federal Trade
Commission requested the American Institute of Accountants (AICPA) to prepare a
memorandum on standardized procedures.
SAP 1
Subject
|
The
Federal Trade Commission
|
Verb
|
Requested
|
Complement
|
The
American Institute of Accountants (AICPA)
|
Modifier
|
To
prepare a memorandum on standardized procedures.
|
SAP 2
Verb Phrases
|
Infinitive phrase :
· To
prepare = infinitive
· The
American Institute of Accountants (AICPA) = direct object
· To
prepare a memorandum on standardized procedures = modifier
|
Tenses
|
Past Tense = S + V2
|
SAP 3
Subject - Verb Agreement
|
Singular Subject :
·
The Federal Trade Commission (It)
|
SAP 4
Pronouns
|
Personal Pronouns :
·
The Federal Trade Commission = It
|
3. After this memorandum was approved by
the council of the institute and the Federal Trade Commission, it was presented
to the Federal Reserve Board for consideration.
SAP 1
Subject
|
By
the council of the institute and the Federal Trade Commission
|
Verb
|
After
this memorandum was approved
|
Complement
|
It
was presented to the Federal Reserve Board
|
Modifier
|
For
consideration
|
SAP 2
Verb Phrase
|
Participial
Phrase :
· Presented
= Past Participle
· To
the Federal Reserve Board for consideration = Direct Object
|
Tenses
|
Past Tense = S
+ V2
|
SAP 3
Subject - Verb Agreement
|
Subject – Verb Agreement :
· The
council of the institute and the Federal Trade Commission = Plural Subject
(They)
· It
was (Helping Verb)
· Presented
= Verb (Past Tense)
|
SAP 4
Pronouns
|
Personal Pronouns :
· The
council of the institute and the Federal Trade Commission (They)
|
4. The Federal Reserve Board gave it
tentative endorsement and submitted it to bankers and banking associations
throughout the country for their consideration and criticism.
SAP 1
Subject
|
The Federal Reserve Board
|
Verb
|
Gave it tentative endorsement and
submitted it
|
Complement
|
To bankers and banking associations
throughout the country
|
Modifier
|
For their consideration and criticism
|
SAP 2
Verb Phrases
|
Participial Phrase :
· Gave
= Past Participle
· It
tentative endorsement and submitted it to bankers and banking associations
throughout the country = Direct Object
· For
their consideration and criticism = Modifier
|
Tenses
|
Past Tense = S + V2
|
SAP 3
Subject – Verb Agreement
|
Subject – Verb Agreement :
· The
Federal Reserve Board = Singular Subject
· Gave
= Verb (Past Tense)
|
SAP 4
Pronouns
|
· Personal
Pronouns = The Federal Reserve Board = It
· Possessive
Pronouns = Their consideration and criticism.
|
5. The memorandum was published in the
April 1917 issue of the Federal Reserve
Bulletin and reprinted (with minor changes) in 1917 in pamphlet form under
the title Uniform Accounting and
again in 1918 under the title Approved
Methods for the praparation of Balance Sheed Statements.
SAP 1
Subject
|
The memorandum
|
Verb
|
Was published
|
Complement
|
Issue of the Federal Reserve Bulletin and reprinted (with minor changes) in
1917 in pamphlet form under the title Uniform
Accounting and again in 1918 under the title Approved Methods
|
Modifier
|
For
the praparation of Balance Sheed Statements
|
SAP 2
Verb Phrases
|
Participial Phrase :
· Published
= Past Participle
· In
the April 1917 issue of the Federal
Reserve Bulletin and reprinted (with minor changes) in 1917 in pamphlet
form under the title Uniform Accounting
and again in 1918 under the title Approved
Methods = Direct Object
· For the praparation of Balance
Sheed Statements = Modifier
|
Tenses
|
Past Tense = S + V2
|
SAP 3
Subject – Verb Agreement
|
Subject – Verb Agreement :
· The
memorandum = Singular Verb
· Was
= Helping Verb
· Published
= Verb (Past Tense)
|
SAP 4
Pronouns
|
Personal Pronouns :
·
The memorandum (It)
|
6. A revised edition entitled Verification of Financial Statements was
published by the Federal Reserve Board in 1929.
SAP 1
Subject
|
By the Federal Reserve Board
|
Verb
|
Was published
|
Complement
|
A revised edition entitled Verification of Financial Statements
|
Modifier
|
In 1929
|
SAP 2
Verb Phrases
|
Participial Phrase :
· Published
= Past Participle
· A
revised edition entitled Verification of
Financial Statements = Direct Object
|
Tenses
|
Past Tense = S + V2
|
SAP 3
Subject – Verb Agreement
|
Singular Subject :
·
The Federal Reserve Board = It
|
SAP 4
Pronouns
|
Personal Pronouns :
·
The Federal Reserve Board
|
7.
The 1929 edition, like the 1918 edition,
set forth suggestions for the verivication and preparation of statements
specifically for credit purposes.
SAP 1
Subject
|
The 1929 edition
|
Verb
|
Set forth suggestions for the
verivication and preparation of statements specifically
|
Complement
|
Like the 1918 edition
|
Modifier
|
For credit purposes
|
SAP 2
Verb Phrases
|
Participial Phrase :
· Like
= Present Participle
· The
1918 edition = Direct Object
|
Tenses
|
Present Tense = S + V1
|
SAP 3
Subject – Verb Agreement
|
Subject – Verb Agreement :
· The
1929 edition = Singular Subject (It)
· Like
= Verb (Present Tense)
|
SAP 4
Pronouns
|
Personal Pronouns :
·
The 1929 edition = It
|
8. It stated, however:”A more condensed
form of balance sheet is usually prepared for general distribution, but in no
case should any essential feature be omitted’’.
SAP 1
Subject
|
It
|
Verb
|
Is usually prepared
|
Complement
|
A more condensed form of balance sheet
|
Modifier
|
For general distribution, but in no
case should any essential feature be omitted
|
SAP 2
Verb Phrases
|
Participial Phrase :
· Prepared
= Past Participle
· For
general distribution, but in no case should any essential feature be omitted
= Modifier
|
Tenses
|
Past Tense = S + V2
|
SAP 3
Subject – Verb Agreement
|
Singular Subject : It
|
SAP 4
Pronouns
|
Personal Pronouns = It
|
9. The instructions contained in this
bulletin were submitted for use by auditors; the reporting procedures as well
as the auditing prosedures were given, and these were believed to represent the
best modern practice of the profession.
SAP 1
Subject
|
Auditors
|
Verb
|
The instructions contained in this
bulletin were submitted for use by
|
Complement
|
The reporting procedures as well as
the auditing prosedures were given
|
Modifier
|
And these were believed to represent
the best modern practice of the profession
|
SAP 2
Verb Phrases
|
Infinitive Phrase :
· Represent
= Verb Base
· To
Represent = Infinitive
· The
best modern practice of the profession = Modifier
Participial Phrase
· The
reporting = Present Participle
· Procedures
as well as the auditing prosedures were given = Direct Object
|
Tenses
|
Past Tense = S + V2
|
SAP 3
Subject – Verb Agreement
|
Auditors : Plural
Subject
|
SAP 4
Pronouns
|
Personal Pronouns : Auditors = They
|
10. The
following general observations on the content of the 1929 edition and the
suggested procedures regarding the balance sheet reflect some of the accounting
thought of the 1920s, but stem largely from the credit objective of the
statements: (1) most of the instructions relate to the audit and presentation
of balance sheet accounts, particularly current assets and current liabilities.
(2) inventories are to be stated at cost or market price, whichever is lower.
(3) in regard to the audit and presentation of fixed assets, emphasis was on
the changes during the period and a classification of the items included.departures
from the cost basis were permitted if disclosure was made regarding the basis
of the appraisal.
SAP 1
Subject
|
The balance sheet
|
Verb
|
Reflect some of the accounting thought
of the 1920s
|
Complement
|
The following general observations on
the content of the 1929 edition and the suggested procedures regarding
|
Modifier
|
But stem largely from the credit
objective of the statements: (1) most of the instructions relate to the audit
and presentation of balance sheet accounts, particularly current assets and
current liabilities. (2) inventories are to be stated at cost or market
price, whichever is lower. (3) in regard to the audit and presentation of
fixed assets, emphasis was on the changes during the period and a
classification of the items included.departures from the cost basis were
permitted if disclosure was made regarding the basis of the appraisal
|
SAP 2
Verb Phrases
|
Gerund Phrase :
· The
following = Gerund
· general
observations on the content of the 1929 edition = Direct Object
Participial Phrase :
· Suggested
= Past Participle
· Procedures
regarding the balance sheet reflect some of the accounting thought of the
1920s = Direct Object
|
Tenses
|
Past Tense = S + V2
|
SAP 3
Subject – Verb Agreement
|
Subject – Verb Agreement :
· The
balance sheet = Singular Subject
· Reflect = Verb Base
|
SAP 4
Pronouns
|
Personal Pronouns : The balance sheet
= It
|
Daftar
Pustaka : Hendriksen, Eldon. S. 1990. Acoounting Theory. Singapore: D.irwin,Inc and Toppan Company,LTD.
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