While this problem set has outlined the most common balance sheet account types, you are bound to find many different arrangements when you look at different firms' balance sheets. For this reason and for simplicity, most finance courses and books work with slightly simplified balance sheets that focus on major accounts that are important to financial analysis. A simplified balance sheet is shown here:

BALANCE SHEET

$($Thousands of dollars$)$

$\backslash$table$[[,$Yr $2,$Yr $1,,$Yr $2,$Yr $1],[$Cash$,$$$377,$$$141,$Accounts payable,$$136,$$$75$