Balance sheet format

What is Balance Sheet Format?

Balance sheet format is the design used to present assets, capital and liabilities of an organization. Balance sheet format can be classified in to different categories based on the criteria used.

a)Classification based on how balance sheet items appear in the statement

Under this classification, Balance sheet can be presented in two ways;

  1. Vertical format
  2. Horizontal format

Example one-Vertical format

Example two-Horizontal format

b)Classification based on management report requirement

When management is in need of giving details of the firm financial performance of the business, a comparative balance sheet format is used. In this case, the management uses two financial years’ balance sheet to compare changes taking place for the two periods.

Contrary to the comparative balance sheet, is the standalone or single balance sheet where by no comparison of balance sheet components


Stand Alone co ltd provided you with the following trial balance information for two financial periods of 2019 and 2020 as follows;

Year 2019


i) Demonstrate the financial position of 2019 and 2020 for each year

ii) Show the comparative financial statement for the two years, 2019 and 2020


Year 2019

Year 2020

Comparative balance sheet    




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