What does account format mean?

account format meaning in Law Dictionary

The arrangement of data on a balance sheet. Possessions and liabilites tend to be listed as well as equity. AKA account form.

account format meaning in Business Dictionary

among the two common plans in which the information in a balance sheet is presented. Account format lists assets regarding left-hand side, and debts and owners' equity on right-hand side of the web page. In contrast, report format listings possessions along with the web page, then followed downward by liabilities and proprietors' equity. Also called account form.