What Happens in a Civil Case. A civil lawsuit involves disputes between private individuals and/or organizations. The facts of the dispute could involve a contract, a lease, a physical injury experienced by an individual, a divorce, or many other issues.
Balance sheets are prepared with either one or two columns, with assets first, followed by liabilities and net worth. Identify the elements of a properly formatted balance sheet. Balance sheets are usually prepared at the close of an accounting period, such as month-end, quarter-end, or year-end.
A pro forma balance sheet is a financial document that discloses a businessâs assets, liabilities, and equity at a specific point in time. This financial statement is not prepared in accordance with Generally Accepted Accounting Standards (GAAP). It is considered more of a balance sheet projection.