classified balance sheet - Susan Lewis 3/6/2012 Classified...

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Susan Lewis 3/6/2012 Classified Balance Sheets A classified balance sheet offers an idea of a company’s financial position at a given point in time. Companies will group similar assets and liabilities together to allow users of this information and easier understanding of what is being presented. Classified balance sheets report the current assets, long term investments, intangible assets, property, plant and equipment of a company. Current Assets: Current assets include assets converted into cash and will be used by the company within a year of the data provided on the balance sheet. These assets include cash accounts, prepaid expenses, inventory and other assets that are easily liquidated if the company needs them. The assets sheet show details of how well their services and products are doing. Long-Term Investments: Long term investments include those investments that last longer than one year. These investments include bonds, stocks, land, and property used by the company. Property, Plant, and Equipment:
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classified balance sheet - Susan Lewis 3/6/2012 Classified...

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