A classified balance sheet is one that arranges the balance sheet accounts into a format that is useful for the readers. For example, most balance sheets use the following asset classifications:

  • current

  • long-term investments

  • property, plant and equipment

  • intangible assets

  • other assets

Liabilities are usually classified as:

  • current, or

  • long-term or noncurrent.

To learn more, see the Related Topics listed below: