Classified Balance Sheet Example

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Classified Balance Sheet Example is presented below to understand this special type of Balance Sheet. In a classified Balance Sheet, the assets are separated into:

Current Assets
Long Term Investments
Property, Plant and Equipment (PP&E)
Intangible Assets

And liabilities and owner’s equity are similarly classified as:

Current Liabilities

Long Term Liabilities
Shareholders’ Equity

Current assets are those assets that are expected to be turned into cash or used up within the next year. Assets that are not expected to be turned into cash or used up within the next year are classified as non-current. Current liabilities are those liabilities that are expected to be paid during the next year. Non-current liabilities are those liabilities that are expected to be paid sometime after next year.