how many types of Balance sheets?

Answer Posted / vishakha

There are different ways to classify Balance Sheets:

Based on Format of Preparation:
Horizontal and Vertical

Based on the Usage:
Consolidated or Standalone (For Share Holders of the Group Entity or individual entity)

Based on the Period:
Previous Year Balance Sheet
Current Year Balance Sheet

Management Consultants prepare Projected Balance Sheet for knowing the potential financial health of the corporation.

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