A statement of retained earnings shows the changes in retained earnings over time, often a year. Retained earnings are profits leftover after paying dividends.

How to Prepare a Statement of Partners' Equity The statement of partners' equity is a report that illustrates the adjustments in the total partners' capital accounts during an accounting period.

Preparing a financial statement is the last step in the accounting cycle before the cycle starts over in a new period. After the accounts have been adjusted and closed, the financial statements ...

What is included in an audited financial statement? An audited financial statement includes a detailed examination of four key financial reports: a balance sheet, cash flow statement, income statement ...

The Financial Accounting Standards Board is proposing a new chapter in its conceptual framework that defines 10 elements of financial statements.