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Presentation form of a balance sheet, which generally follows one of two formats: (1) the traditional form called the account form, which presents assets on the left and liabilities and owner's equity on the right; and (2) the report form, which presents assets above, liabilities and stockholders' equity below. Both types of format are widely used.

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Orval Cronin

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2y ago

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How report form and account form balance sheet differ?

The account form has a horizontal presentation, while the report form has a vertical presentation. Everything else is the same. Same information is provided in both just with different views.


How Report-form and account-form balance sheets differ?

Presentation form of a balance sheet, which generally follows one of two formats: (1) the traditional form called the account form, which presents assets on the left and liabilities and owner's equity on the right; and (2) the report form, which presents assets above, liabilities and stockholders' equity below. Both types of format are widely used.


What are the 2 types of the Balance sheets?

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