In a fair value hedge, any FX gain or loss on an FX forward used to hedge a firm commitment must be deferred until the transaction date.

Name: In a fair value hedge, any FX gain or loss on an FX forward used to hedge a firm commitment must be deferred until the transaction date.
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In a fair value hedge, the FX gain or loss on an FX forward used to hedge a firm commitment is recognized in the income statement immediately, not deferred.

In a Fair Value Hedge, Any FX Gain or Loss