Standard Format Classified Balance Sheet

---
name: financial-statements-standard-format-classified-balance-sheet
description: 'Sub-skill of financial-statements: Standard Format (Classified Balance
  Sheet) (+1).'
version: 1.0.0
category: business
type: reference
scripts_exempt: true
---

# Standard Format (Classified Balance Sheet) (+1)

## Standard Format (Classified Balance Sheet)


```
ASSETS
Current Assets
  Cash and cash equivalents
  Short-term investments
  Accounts receivable, net
  Inventory
  Prepaid expenses and other current assets
Total Current Assets

Non-Current Assets
  Property and equipment, net
  Operating lease right-of-use assets
  Goodwill
  Intangible assets, net
  Long-term investments
  Other non-current assets
Total Non-Current Assets

TOTAL ASSETS

LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
  Accounts payable
  Accrued liabilities
  Deferred revenue, current portion
  Current portion of long-term debt
  Operating lease liabilities, current portion
  Other current liabilities
Total Current Liabilities

Non-Current Liabilities
  Long-term debt
  Deferred revenue, non-current
  Operating lease liabilities, non-current
  Other non-current liabilities
Total Non-Current Liabilities

Total Liabilities

Stockholders' Equity
  Common stock
  Additional paid-in capital
  Retained earnings (accumulated deficit)
  Accumulated other comprehensive income (loss)
  Treasury stock
Total Stockholders' Equity

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
```


## GAAP Presentation Requirements (ASC 210 / IAS 1)


- Distinguish between current and non-current assets and liabilities
- Current: expected to be realized, consumed, or settled within 12 months (or the operating cycle if longer)
- Present assets in order of liquidity (most liquid first) — standard US practice
- Accounts receivable shown net of allowance for credit losses (ASC 326)
- Property and equipment shown net of accumulated depreciation
- Goodwill is not amortized — tested for impairment annually (ASC 350)
- Leases: recognize right-of-use assets and lease liabilities for operating and finance leases (ASC 842)