A balance sheet with at least two columns of amounts. The column of amounts that is closest to
the words will be the most recent amounts. The column furthest from the words will contain the
oldest amounts. The older amounts provide a reference point from which to make comparisons.
Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for more than 25 years. He is the sole author of all the materials on AccountingCoach.com. Read more about the author.