Format: Point of View

Point of view is the perspective in which the story is written. What POV you choose to use and how consistently you use it will either make or break your writing. Over all, there are 5 categories:

1. First Person - All the reader sees is what the protagonist sees. Subject pronouns such as "I" , "we" , "us", etc. are used. 

Advantages:

a) Readers can relate more intimately to the character because they spend a huge amount of time together?

b) Information is easier to give away.

c) It is the easiest point of view for a beginner to use.

Disadvantages:

a) Perspective is limited.

b) Describing the characters can be biased and unobjective.

2. Second Person - This is a rare POV which is addressed to the reader by using the words, "you", "your" and "yours." This point of view is used mostly for self-help, instructional and kindergarten books. 

Example: "If you decide to go to the moon, read this book first. It will tell you how to get there and what to do after you land. The most important part tells you how to get home." (If You Decide to Go to the Moon by Faith Mcnulty and Steven Kellogg) 

Advantage:

a) The reader is put into the protagonist's shoes.

Disadvantages:

b) Many readers open a book to escape from reality, but you are only destroying the illusion by reminding them of who they are.

c) It is considered informal by many critics.

3. Third Person Limited - The perspective of the story is only on one character. "She", "he", "they" and such are used. Third Person is similar to First Person but with more freedom. 

Example: “A young woman wakes up to find herself in the dark. She does not know how she got there; she does not know why she is there. She feels for a light switch, thinking the light heals all pain.”  (Keeping Her in the Light by Nicole Fuentes)

Advantages:

a) Compared to First Person, there is a less biased perspective.

b) It is easier to describe the situations of the other characters because the narrator is already zoomed out of the camera lens (take this figuratively).

Disadvantages:

a) You need a break in the page or a change in chapter before you switch POVs.

b) Like First Person, it is difficult to progress the story without directly knowing the thoughts and emotions of other characters.

4. Third Person Omniscient - The narrator expresses the thoughts and feelings of all the characters. Like all Third Person point of views, "he", "she"m "they" and such pronouns are used.

Example: "John laughed hollowly. 'Your joking,' he said, wondering how on earth he would get over this. Veronica shook her head. Her heart was breaking at having to tell him the news." (example from Fiction Writer's Mentor)

Advantages:

a) It expands the scope and perspective of the readers.

b) In a story with numerous characters, the flow becomes more natural since you can see the POV of everyone.

Disadvantages:

a) Some authors don't know when to show action or reveal thoughts.

b) If the POV constantly changes, readers may not know who exactly is the main character.

c) Readers may not feel close to the characters unlike when the story is in First or Second Person.

Note - Limited and Omniscient can be easily mixed up. Before you determine a POV, read the entire story. 

5. Third Person Objective - The readers don't know the thoughts and emotions of any character unless they state them out loud. 

Example: "John laughed hollowly. 'You’re joking,' he said. The neon light flickered on his face, turning it a ghastly yellow. Veronica shook her head slowly. Her fingers were busy shredding her tear-stained paper tissue. 'I’m not joking. It’s all true.'" (same credits as above)

Advantage:

a) The character's actions are highlighted.

Disadvantage:

a) The proportion between speech and actions maybe difficult to balance.

Another tip: Even if you're writing in 3rd Person Omniscient, do not change point of views too often; the readers will most likely get confused. 

I hope everything is clear enough! If not, don't be afraid to comment or PM me for questions :)

Sources for clarification - Ingrid's Notes, Ingrid's Notes (2), Fiction Writer's Mentor, ehow, goodreads