Using quickbooks, why the balance sheet produce as asset = equity + liabilities?

wyeechen

New member
I thought the standard require the balance sheet prepare as asset - liabilities = equity?
or older format: fixed asset + current assets - current liabilities = equity + long term liabilities

but quickbooks only produce the format as asset = equity + liabilities..what standard is that?
I have to admit, the world has changed and I never noticed that.
When the time I study accounting, (according to Frank Wood's Business Accounting) the format of balance sheet is always follow the order of:

Fixed Assets
+)Current Assets
-)Current Liabilities
(Total A)

Equity
+)Long term Liabilities
(Total B)

and, of course Total A = Total B

Since when, the format now become asset = equity + liabilities?
 
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