deficit definition
This term is used in place of retained earnings when the balance in the retained earnings account is negative (a debit balance).
This term is used in place of retained earnings when the balance in the retained earnings account is negative (a debit balance).
Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for more than 25 years. He is the sole author of all the materials on AccountingCoach.com