The FASB and IASB are working on a proposed format of the statement of comprehensive income. Do you prefer this format to the current formats? Why or why not?
All:
To maximize your points on your initial response to this question, I expect to see the following.
- Discussion on the current format(s) of comprehensive income.
- Discussion on the proposed format of comprehensive income.
•Discussion on which you prefer and substantial reasons why you prefer the one you chose. If you did not chose one, you need to also provide some good reasons for your decision.