Beautiful Company Balance Sheet Format

Also the balance sheet is often abbreviated as BS or BS.

Company balance sheet format. There are many company balance sheet formats which help understand its assets and liabilities and other essential things. The balance sheet used to sometimes be shown in a horizontal format instead of the vertical format shown above. This horizontal format basically looked like one giant T-account for the whole business with Assets on one side and Liabilities and Owners Equity on the other.

There is a Company Balance Sheet Format for business purposes and a Personal Balance Sheet Format to find out your personal net worth. In account format the balance sheet is divided into left and right sides like a T account. Balance Sheet Meaning Format Balance sheet is one of the important financial statements which a joint stock company has to prepare at the end of every financial year.

The Asset side and the Liability side. Balance sheet format of a company Below is the balance sheet format with an example As illustrated above on the left side of the balance sheet format all the Liabilities are shown followed with each sub-components of assets. Assets are placed in the left hand side while the liabilities are placed on the right hand side.

The heading includes the business name and date. All the assets either they are long term assets or current or short term are listed in balance sheet format so that the progress of the company may judge by the owners. Balance sheet is a document which gives you the complete and accurate information of the assets which a company owns and also summarizes the information of the liabilities.

This is done by subtracting the total liabilities from the total assets to calculate the owners equity also known as shareholders equity for corporations or simply the net worth. The old format of the balance sheet as shown in figure 1 is known as T-shaped or horizontal format. Vertical balance sheet.

The balance sheet is based on the fundamental equation. The asset side shows Non-current Assets and Current Assets. The format of company balance sheet is categorised as classified comparative common size and vertical.