The purpose of 'hedge accounting' is to recognise the offsetting effects on profit or loss of changes in the nominal values of the financial instrument and the hedging instrument.
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Q5: AASB 121 defines an exchange rate as
Q6: The essential feature of a non-monetary item
Q7: To classify an arrangement as a hedge,and
Q8: In selecting the appropriate foreign currency exchange
Q9: According to AASB 123 a qualifying asset
Q11: An entity may change its functional currency
Q12: If the foreign currency exchange rate between
Q13: Inventory is an example of a monetary
Q14: Hedges cannot be designated and/or documented on
Q15: It seems pointless to distinguish between different
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