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ACC 572 Week 2 Discussion A++

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ACC 572 Week 2 Discussion Other Comprehensive Income” Please respond to the following: • From the first e-Activity, assess the effect of the enhanced distinction of other comprehensive income and total comprehensive income on financial statement users and companies. • Assess the validity of the arguments against the use of the direct method by the accounting profession. Justify your position. Week 2 eActivities • Go to Journal of Accountancy Website to read the article titled “FASB, IASB Align Presentation of Other Comprehensive Income”, dated June 17, 2011, located athttp://www.journalofaccountancy.com/Web/20114267.htm. Be prepared to discuss. • Go to the AICPA Website using the link below and review the video “IFRS Webcast Highlight: Excerpt from 4th Quarter IFRS Webcast: Panelists discuss FASB/IASB proposed changes to the statement of cash flows” (4 min 51 s), located at http://www.ifrs.com/video.html. Be prepared to discuss.

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