Statement of Changes in Equity Report in Foodics Accounting

Statement of Changes in Owner’s Equity Report

The Statement of Changes in Owner’s Equity is a report prepared to identify the changes that occurred in the owners’ equity during the financial period. It is considered a key component used in building the financial position (balance sheet) of the establishment.

It shows the ownership share of each partner at the end of the financial period after accounting for the assets and liabilities, since owners’ equity equals the difference between the entity’s assets and liabilities. Owners’ equity is also affected by:

• All contributions made by the owners to increase the capital
• The net profit or net loss during the year
• The personal withdrawals made by each owner

All these factors lead to identifying the capital at the end of the period, which is necessary for determining the profits to be distributed to the owners.

Steps:

1. Go to Reports > Financial Statements > Statement of Changes in Owner’s Equity Report

1. You can specify the following:

• Date range (From / To)
• Time period (Current month, Previous month, etc.)
• Period comparison
• Time frame
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