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    l Sue's Avatar
    l Sue Posts: 1, Reputation: 1
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    #1

    Sep 6, 2008, 06:52 AM
    Example of an unclassified balance sheet
    I need an example of an unclassified balance sheet for a class. Can you help me?
    Superfly999's Avatar
    Superfly999 Posts: 235, Reputation: 14
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    #2

    Sep 8, 2008, 09:05 AM
    A classified balance sheet is a balance sheet in which assets and liabilities are subdivided into current and long-term categories.

    Soooo if that's a classified balance sheet an unclassified would have to be one that has its assets and liabilities and everything but they are not grouped further within themselves. Meaning that there is no order within assets as to which they are listed I suppose. If I'm wrong someone correct me please.
    CPA1986's Avatar
    CPA1986 Posts: 1, Reputation: 1
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    #3

    Mar 18, 2009, 06:24 AM
    This may be a little late for your class but an unclassified balance sheet has the assets, liabilities, and equity groupings but does not further show the breakout between short term and long term assets and liabilities. I believe they are still grouped in order of liquidity but not specifically stated. Hope this answers your question and may just be for future reference. (See FAS 6.07)
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