An accounting group has adopted new definitions of earnings or profits. These changes include the following:

• Reporting comprehensive earnings, along with net income, for the company.

This could result in several new profit numbers for most companies.

• Comprehensive earnings include external market effects of changes in the value of foreign currency and changes in the prices of investments (shares) in other companies.

Required Write a short essay supporting or criticizing these changes in the definitions of income or profit. p-968