Question: Need help with International Accounting, please. Please explain briefly. Thanks Please refer to the FASB Accounting Standards Codification (FASB ASC): 1. Explain using an example

Need help with International Accounting, please. Please explain briefly. Thanks Please refer to the FASB Accounting Standards Codification (FASB ASC):

1. Explain using an example when a firm would use a fair value hedge to manage a foreign currency transaction. Be specific.

2. In a few sentences, explain the targeted improvements to the accounting for derivatives and hedged issued by the FASB in 2017, which are currently effective for financial reporting purposes.

3. Explain at least one major difference that exists today between US GAAP and IFRS on the accounting for foreign currency transactions. Be specific.

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