This CFO article How Extreme is the Makeover mya be the most important you will read in your college career. An overview from the FASB is here.
FASB full exposure draft and more than you want to know is here.
The upshot of this is that the IFRS and the FASB US have decided that current financial reporting is inadequate to comprehend what is happening, read meltdown. This is equivalent to the Black Plague convincing the scientists of the Day that the Four Humours Theory was not cutting it…
The new approach, see FASB overview above will have the income statement showing cash income from operations investing and financing and grouping expenses the same way. I suspect the upshot is to show whether the business is staying alive on operations or simply rolling over debt to keep cash coming in the door.
As Bob Dylan observed
the times they are a changin'
Professor Elam 
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