ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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STATEMENT OF RETAINED EARNINGS Definition
STATEMENT OF RETAINED EARNINGS is one of the four basic financial statements; the Statement of Retained Earnings is a reconciliation of the Retained Earnings account. Information such as dividends or announced income is provided in the statement. The Statement of Retained Earnings provides information about what a companys management is doing with the companys earnings.
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MEMORANDUM ACCOUNT see SPECIAL MEMORANDUM ACCOUNT.
EXPENSES are the daily costs incurred in running and maintaining a business. See expenditure.