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    Preparation of a Tax Return Assessment

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    How would you explain the difference in retained earnings and, earnings and profits to a client who questions your preparation of a tax return?

    © BrainMass Inc. brainmass.com June 3, 2020, 9:50 pm ad1c9bdddf
    https://brainmass.com/business/accounting/preparation-tax-return-assessment-202031

    Solution Preview

    In short, those are concepts serving different purposes and hence is the difference. Retained Earnings is an accounting concept, that helps with tracking income and loss in the ...

    Solution Summary

    This is a summary on accounting concepts such as retained earnings, earnings and profits, and tax returns.

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