Question: Chapter 7 questions reference: Patrick E. Hopkins, R. F. (n.d.). Cambridge Advanced Accounting. 10. FASB ASC 815-20-25-13 allows for the eligibility of a forecasted transaction

Chapter 7 questions

reference: Patrick E. Hopkins, R. F. (n.d.). Cambridge Advanced Accounting.

10. FASB ASC 815-20-25-13 allows for the eligibility of a forecasted transaction for designation as a cash flow hedge. Can a transaction be considered to be a forecasted transaction based solely on management intent? Or, must other factors be considered? (Hint: See FASB ASC 815-20-55-24.) 11. Can a net group of forecasted transaction inflows and outflows be hedged in a single cash flow hedge? (Hint: See FASB ASC 815-20-25-39(c).)

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