Opinion argues for financial statements in the US to include an asset-liability view of income, indicating essential improvements.
Opinion. Argues that there is a need for financial statements in the United States to reflect the asset-liability view of income. Financial Accounting Standards Board's (FASB) definition of comprehensive income; FASB's implementation of the asset-liability approach in its standard-setting efforts; Current operating performance versus the all-inclusive concepts of reporting income.
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Loudell Ellis Robinson (1991) studied this question.
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