The topical use of ursolic acid compounds to alter the lipid content of mammalian skin is disclosed. The compounds can be encapsulated in liposomes and administered in this form to the skin in, for example, a lotion or a gel. The compounds are effective in, among other things, reducing the effects of aging, photoaging, and skin atrophy, including skin atrophy resulting from the topical use of retinoids and/or steroids. Compositions comprising a ursolic acid compound in combination with another therapeutically active topical compounds, such as, a retinoid or a steroid, are also disclosed.