Difference between revisions of "Retained Earnings"
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== Definition == | == Definition == | ||
| − | '''Retained Earnings'''. Net profits kept to accumulate in a business after dividends are paid. A component of equity representing the entity's cumulative undistributed earnings or deficit. | + | '''Retained Earnings'''. Net profits kept to accumulate in a business after dividends are paid. A [[Components Of Equity | component of equity]] representing the entity's cumulative undistributed earnings or deficit. |
If the corporation takes a loss, then that loss is retained and called variously retained losses, accumulated losses or accumulated deficit. Retained earnings and losses are cumulative from year to year with losses offsetting earnings. | If the corporation takes a loss, then that loss is retained and called variously retained losses, accumulated losses or accumulated deficit. Retained earnings and losses are cumulative from year to year with losses offsetting earnings. | ||
| Line 6: | Line 6: | ||
== Usage == | == Usage == | ||
* [[Statement of Financial Position]] | * [[Statement of Financial Position]] | ||
| + | * [[Statement of Changes in Equity]] | ||
== XBRL Properties == | == XBRL Properties == | ||
| Line 13: | Line 14: | ||
* Element Type and Attributes: Xinstant, credit | * Element Type and Attributes: Xinstant, credit | ||
* [[Accounts Hierarchy Structure | Hierarchy Level]]: 3 | * [[Accounts Hierarchy Structure | Hierarchy Level]]: 3 | ||
| − | * IFRS References: <ref>IFRS for SMEs4.11f[2015-12-01]Disclosure, IFRS for SMEs6.5a[2015-12-01]Disclosure, IFRS for SMEs6.5e[2015-12-01]Disclosure</ref> | + | * IFRS References: <ref>IFRS for SMEs4.11f[2015-12-01]Disclosure, IFRS for SMEs6.5a[2015-12-01]Disclosure, IFRS for SMEs6.5e[2015-12-01]Disclosure</ref>, <ref>IFRS for SMEs6.3[2015-12-01]Disclosure</ref> |
== References == | == References == | ||
| Line 23: | Line 24: | ||
[[Category:Balance Sheet Balances]] | [[Category:Balance Sheet Balances]] | ||
| + | [[Category:Changes In Equity Items]] | ||
[[Category:XBRL]] | [[Category:XBRL]] | ||
[[Category:Accounting Equity]] | [[Category:Accounting Equity]] | ||
Latest revision as of 12:33, 21 May 2021
Definition
Retained Earnings. Net profits kept to accumulate in a business after dividends are paid. A component of equity representing the entity's cumulative undistributed earnings or deficit.
If the corporation takes a loss, then that loss is retained and called variously retained losses, accumulated losses or accumulated deficit. Retained earnings and losses are cumulative from year to year with losses offsetting earnings.
Usage
XBRL Properties
- IFRS Prefix: ifrs-smes
- Element Name: Retained earnings
- Common Initials:
- Element Type and Attributes: Xinstant, credit
- Hierarchy Level: 3
- IFRS References: [1], [2]
References
Disclaimer
This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.
