Titan Networking became a public company through an IPO (initial public offering) two weeks ago. You are looking forward to the challenges of being assistant controller for a publicly owned corporation. One such challenge came in the form of a memo in this morning's in-box. "We need to start reporting comprehensive income in our financlals," the message from your boss said. "Do some research on that, will you? That concept didn't exist when I went to school." In response, you sought out the financial statements of Cisco Systems, the networking industry leader. The following are excerpts from disclosure notes from Cisco's 2017 annual report: Required: 1. Locate the financial statements of Cisco in the Investor Relations section of Cisco's website (wwwciscacom). Search the 2017 annual report for information about how Cisco accounts for comprehensive income. What does Cisco report in its balance sheet for 2017 Accumulated other comprehensive income? 2. From the information Cisco's financial statements provide, show the calculation of the change in the accumulated other comprehensive income from the end of fiscal 2016 to the end of fiscal 2017 . Hint: One component of the change is Comprehensive (income) loss attributable to noncontrolling interests. 3. Access the FASB Accounting Standards Codification at the FASB website (uww.fasb.org). Identify the specific eight-digit Codification citation (XXXXXXXX) from the authoritative literature that describes the two alternative formats for reporting comprehensive income. Complete this question by entering your answers in the tabs below. 1.sate the financial statements of Cisco in the Investor Relations section of Cisco's website. Search the 2017 annual report for information about how Cisco accounts for comprehensive income. What does Cisco report in its balance sheet for 2017 Accumulated other comprehensive income? (Enter your answer in millions.) Titan Networking became a public company through an IPO (initial public offering) two weeks ago. You are looking forward to the challenges of being assistant controller for a publicly owned corporation. One such challenge came in the form of a memo in this moming's in-box. "We need to start reporting comprehensive income in our financlals," the message from your boss said. "Do some research on that, will you? That concept didn' exist when I went to school." In response, you sought out the financial statements of Cisco Systems, the networking industry leader. The following are excerpts from disclosure notes from Cisco's 2017 annual report: Required: 1. Locate the financial statements of Cisco in the Investor Relations section of Cisco's website (unww. cisco. com). Search the 2017 annual report for information about how Cisco accounts for comprehensive income. What does Cisco report in its balance sheet for 2017 Accumulated other comprehensive income? 2. From the informotion Cisco's financial statements provide, show the calculation of the change in the accumulated other comprehensive income from the end of fiscal 2016 to the end of fiscal 2017. Hint One component of the change is Comprehensive (income) loss attributable to noncontrolling interests. 3. Access the FASB Accounting Standards Codification at the FASB website (wownfasb.org). Identify the specific eight digit Codification citation (XXXXXXXX) from the outhoritative literature that describes the two alternative formats for reporting comprehensive income. (x) Answer is not complete. Complete this question by entering your answers in the tabs below. From the information Cisco's financial statements provide, show the calculation of the change in the accumulated other comprehensive income from the end of fiscal 2016 to the end of fiscal 2017. Hint: One component of the change is Comprehensive (income) loss attributable to noncontroling interests. (Enter your answer in milions. Negative amounts should be indicated by o minus sign.) Titan Networking became a public company through an IPO (initial public offering) two weeks ago. You are looking forward to the challenges of being assistant controller for a publicly owned corporation. One such challenge came in the form of a memo in this morning's in-box. "We need to start reporting comprehensive income in our financials," the message from your boss said. "Do some research on that, will you? That concept didn' exist when I went to school." In response, you sought out the financial statements of Cisco Systems, the networking industry leader. The following are excerpts from disciosure notes from Cisco's 2017 annual report: Required: 1. Locate the financial statements of Cisco in the Investor Relations section of Cisco's website (4wnycisca. com). Search the 2017 annual report for information about how Cisco accounts for comprehensive income. What does Cisco report in its bolance sheet for 2017 Accumulated other comprehensive income? 2. From the information Cisco's financial statements provide, show the calculation of the change in the accumulated other comprehensive income from the end of fiscal 2016 to the end of fiscal 2017 . Hint One component of the change is Comprehensive (income) loss attributable to noncontrolling interests. 3. Access the FASB Accounting Standards Codification at the FASB wobsite (unwwifosb. org). Identify the specific eight-digit Codification citation (XXXXX) from the authoritative literature that describes the two alternative formats for reporting comprehensive income. 8. Answer is not complete. Complete this question by entering your answers in the tabs below. Accoss the FASB Accounting Standards Codification ot the FASB website (www.fasb.org). Identify the specifc eight-digit Codification citation (xxxxxxxx) from the authoritative literature that describes the two alternative formats for reporting comprehensive income
