Accounting is particular with formatting details. The following pages outline guidelines for properly preparing an account form balance sheet.
The balance sheet requires a three-line heading. The heading informs:
Who? -The name of the individual, business or organization for which the information is prepared. What? -The name of the financial report. When? -The date the financial report was prepared. The date must be recorded in full (e.g. September 30, 2003).
The heading is written one item per line and always in the same order: Who?-line 1, What?-line 2 and When?-line3.
The sub-headings Assets, Liabilities and Owner's Equity are underlined and centered in the appropriate column and row.