Question
Lets assume that the FASB has a project on their technical agenda to get rid of comprehensive income and put investments in securities and cash
Let’s assume that the FASB has a project on their technical agenda to get rid of comprehensive income and put investments in securities and cash flow hedges on the income statement instead. How would you have the FASB restructure the income statement to present those comprehensive income items in a way that makes sense to you?
Relatedly, how would you restructure the income statement to make it more informative? That is, what other changes would you make to the income statement and its presentation?
Do you think your changes would eliminate the use of non-GAAP earnings?
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Advanced Financial Accounting
Authors: Thomas Beechy, Umashanker Trivedi, Kenneth MacAulay
6th edition
013703038X, 978-0137030385
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