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So is it safe to assume all contracts to acquire non financial asset where there’s clause to settle net and you don’t intend to take receipt, it’s not to be hedge accounted for? As there’s no firm commitment or highly probable forecast transaction to take delivery of the asset?
Yes but can you stop looking at some of the standards in the level of detail that you are doing. You need to know the basics of each standard well and by looking at the standards in this much detail you are not making it any easier for yourself, in fact I think you’re making it harder for yourself.
Thanks a lot for the advice and for patiently solving all my doubts on a prompt basis.
Really greatful! Means a lot.. 🙂
You’re welcome, it’s a pleasure. Just keep that knowledge of the basics and you will be fine.