The Worksheet for M1 in the Accounting System > Group 3 > Worksheets M1 presents the four financial statements, Balance Sheet, Income Statement, Statement of Cash Flows and Statement of Changes in Equity arranged in the same sequential order, one next to the other, in a "horizontal format" the entries for each transaction. The Accounting Equation has in a horizontal arrangement the main items of the balance sheet, assets and liabilities.
However, it is customary for companies to present financial statements in the "vertical format", as shown below,
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