Accounting for Derivatives. Ramirez Juan

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СКАЧАТЬ recognised in profit or loss (unless after the rebalancing it was designated in a different hedging relationship).

      Adjusting the Hedge Ratio by Increasing the Volume of the Hedged Item

      Rebalancing by increasing the volume of the hedged item does not affect how the changes in the fair value of the hedging instrument are measured. The measurement of the changes in the value of the hedged item related to the previously designated volume also remains unaffected. However, from the date of rebalancing, the changes in the value of the hedged item also include the change in the value of the additional volume of the hedged item.

      These changes are measured starting from, and by reference to, the date of rebalancing instead of the date on which the hedging relationship was designated. In our previous example, the entity would designate an additional 9.1 tonnes of the hedged item.

      Example (Part 2)

      Based on our previous example, let us assume that instead the effectiveness assessment demonstrated that the basis for benchmark commodity B had changed such that 130 tonnes, rather than 120 tonnes, were required to hedge 100 tonnes of commodity A. To adjust the hedge ratio, the entity had two main alternatives:

      • Enter into an additional 10 tonnes of the hedging derivative (i.e., increasing the volume of the hedging instrument to 130 tonnes from 120 tonnes); or

      • De-designate 7.7 tonnes (=100 – 100 × 120/130) of the hedged item (i.e., decreasing the volume of the hedged item to 92.3 tonnes from 100 tonnes).

      Adjusting the Hedge Ratio by Increasing the Volume of the Hedging Instrument

      Adjusting the hedge ratio by increasing the volume of the hedging instrument does not affect how the changes in the fair value of the hedged item are measured.

      The measurement of the changes in the fair value of the hedging instrument related to the previously designated volume also remains unaffected. However, from the date of rebalancing, the changes in the fair value of the hedging instrument also include the changes in the value related the additional volume of the hedging instrument. The changes are measured starting from, and by reference to, the date of rebalancing instead of the date on which the hedging relationship was designated. In our previous example, one of the alternatives available to the entity was to designate on rebalancing an additional 10 tonnes of the hedging derivative so its total volume would comprise 130 tonnes. From the date of rebalancing the change in the fair value of the hedging instrument was the total change in the fair value of the derivatives that make up the total volume of 130 tonnes. It is likely that the entity would have entered into the additional volume at a different price.

      Adjusting the Hedge Ratio by Decreasing the Volume of the Hedged Item

      Adjusting the hedge ratio by decreasing the volume of the hedged item does not affect how the changes in the fair value of the hedging instrument are measured.

      The measurement of the changes in the value of the hedged item related to the volume that continues to be designated also remains unaffected. However, from the date of rebalancing, the volume by which the hedged item was decreased is no longer part of the hedging relationship. In our previous example, one of the alternatives available to the entity was to reduce on rebalancing 7.7 tonnes of the hedged item, to 92.3 tonnes. The 7.7 tonnes of the hedged item that are no longer part of the hedging relationship would be accounted for in accordance with the requirements for the discontinuation of hedge accounting. In a fair value hedge, for instance, the entity would begin amortising the amount within the separate line item in the statement of financial position related to the amount that is no longer part of the hedging relationship. This means that entities have to keep track of the accumulated gains or losses for the risk being hedged related to the individual hedged items.

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