Your client took accounting courses a number of years ago and was unaware of recent changes to comprehensive income reporting.

Required:

Access the FASB Codification to conduct research using the Codification Research System to prepare responses to the following items. Use various tools, such as Master Glossary and Cross Reference function, to answer the questions below. Provide full Codification references for your responses.

What authoritative literature addresses comprehensive income? What is it you selected?

Provide the definition of comprehensive income.

How the comprehensive income should be reported? Provide details about each allowed format.

Define classification within other comprehensive income; (5 points) provide a list of items required to be reported as other comprehensive income.