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Excellent!! It is the first time I understand what is Hedge and its treatment.
Why are we looking at the treatment with no hedge accounting? Is this an option? I mean could an election be made to not use hedge accounting under IFRS 9?
Ok I think I get why. It’s just to illustrate that the information in the profit and loss statement would not be true and fair without hedge accounting. Mismatch of profit on hedging instrument with hedged item?
the same illustration… what if the additional note is “shortly after the reporting date the oranges are brought for $.15m ” how we account for that… currently, we have .05 gain in OCI…
Thank you so much for a great videos.My question is-
when you actually purchase goods ,what will be accounting journal for reclassifying gain/loos previousle recognised?
so lost…
If you post any queries on the tutor forum then I can answer them for you.
Thanks
Great tuition. Thank you.