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Cash flow hedge reverse

This topic has 3 replies, 2 voices, and was last updated 5 years ago by Stephen Widberg.

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March 29, 2020 at 9:37 pm #566114
Toubakos
Participant
- Topics: 8
- Replies: 13
Hi sir,
Could you please provide me the account Tha must be credited on cash flow hedge reverse when we have a sale?
Dr equity
Cr. Revenue.???
When we have a purchase the journal entry is
Dr equity
Cr cost of the asset
March 30, 2020 at 6:54 am #566125
Stephen Widberg
Keymaster
- Topics: 16
- Replies: 3397
Standard just says that reverse is in P&L.
If, for example, the CF gain in reserves relates to a purchase:
Dr OCI
Cr Purchases
For exam, just say P&L
March 30, 2020 at 5:52 pm #566168
Toubakos
Participant
- Topics: 8
- Replies: 13
Thank you sir
March 31, 2020 at 2:53 pm #566250
Stephen Widberg
Keymaster
- Topics: 16
- Replies: 3397
No worries.
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