Bookkeeping

In a classified balance sheet, current short-term and non-current long-term assets and liabilities are presented separately In most cases current assets and liabilities are easy to distinguish and dont present any issues with their classification and presentation on a balance sheet. However, there are certain items which may require special treatment because they need to be separated into the current and non-current portions. In the first part of this article we will discuss one of such items: prepaid insurance.

ContentThe Accounting for Liquidation of a Sole ProprietorshipLiabilities SectionClassified balance sheetObjectives of Classified Balance SheetOften this includes intangible assets such as patents and copyrights. Vacation Budget Planner TemplateKeep your vacation budget with a free online Vacation Budget Planner Template. Weekly Budget TemplateTrack your weekly expenses...