eActivity - Go to the Financial Accounting Foundation Website to view the news release titled FASB Issues Accounting Standards Update to Improve Presentation of Comprehensive Income, located at http://www.fasb.org/jsp/FASB/FASBContent_C/NewsPage&. Be prepared to discuss

From the e-Activity, create one (1) argument to support the use of a two-step approach over the single-step approach when reporting comprehensive income. Support your response with specific examples that illustrate why the two-step approach is more beneficial than the single-step approach

Differentiate between a multi-step income statement and a comprehensive income statement, and suggest which income statement is more useful to investors and creditors. Provide a rationale for your suggestion