Classified balance sheet
Classified balance sheet is a balance sheet that categorizes assets as current assets or plant and equipment and groups liabilities as current or long-term liabilities.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Classified balance sheet. A balance sheet that categorizes assets as current assets or plant and equipment and groups liabilities as current or long-term liabilities.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
