But that has all changed. Venice is now more than just a beach town, more than just a tourist attraction. Venice is a brand. Or as Ernest, a man I met outside the Oakwood Community Center (he smoked a hand-rolled cigarette and declined to give me his last name), puts it: This used to be a community.
The retained earnings general ledger account is adjusted every time a journal entry is made to a revenue or expense account. Retained Earnings. Retained earnings are reported at the end of an accounting period as the accumulated amount of a company's prior earnings, net of dividends. They can show a positive earnings accumulation or can turn negative and have a deficit if a current period's net loss exceeds the period's beginning retained earnings.
If a company is publicly held, the balance of retained earnings account that is negatively referred to as accumulated deficit may appear in the Accountant's Opinion in what is called the Ongoing Concern statement located at the end of required SEC financial reporting at the end of each quarter.imilarly, if the corporation incurs a loss, then that loss reduces the corporation's retained earnings balance. If the balance of the retained earnings account is negative it may be called retained losses, accumulated losses or accumulated deficit, or similar terminology.