+1 862 207 3288 A balance sheet with classifications (groupings or categories) such as current assets, property plant and equipment, current liabilities, long term liabilities, etc. is known as classified balance sheet. In this manner it presents information about an entity’s assets, liabilities, and shareholders’ equity that is aggregated (or “classified”) into subcategories of accounts. By using classified balance sheet one can easily figure out the information which is well organized in a format that is more readable than a simple listing of all the accounts that comprise a balance sheet.
