How Can We Differ Horizental & Vertical Balace Sheet? Explain.
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Answer Posted / Ahsan Khan
Horizontal balance sheet and vertical balance sheet are financial statements used for different purposes in accounting. Here's how they differ:n1) Horizontal Balance Sheet (also called the classified balance sheet): Organizes assets, liabilities, and equity by class or account category. It provides a snapshot of a company's financial position as of a specific date. The main sections are Assets, Liabilities, and Equity.n2) Vertical Balance Sheet: Represents the same financial information as a horizontal balance sheet but in a vertical format. In this layout, assets are listed first, followed by liabilities, and then equity. It provides easy comparison of total assets, total liabilities, and net worth.
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