Key Points
Retained Earnings Reconciled
The statement of retained earnings reconciles retained earnings for a specified period. This is a financial statement prepared according to Generally Accepted Accounting Principles (GAAP) that summarizes the changes in the retained earnings for a particular period.
Statement of Owner's Equity
The statement of retained earnings is also known as a statement of owner's equity, an equity statement, or a statement of shareholders' equity. This document summarizes the changes in the equity of the owners of a business, including the profits earned by the business and the dividends paid to the owners.
Online Access
Retained earnings statements can be found online, allowing you to easily view the changes in retained earnings for a period. This can help you understand the performance of the business over time and plan for future growth.
GAAP Compliance
The statement of retained earnings is prepared in accordance with Generally Accepted Accounting Principles (GAAP). This ensures that the financial statements are accurate and reliable, allowing investors and other stakeholders to make informed decisions about the business.