1.2 IS/Statement of Profit and Loss

Question 1

Foreign currency

What amount of foreign currency gain/loss from the forward contract should Company A report in its net income available?
***the change in value for forward contract as a cash flow hedge is reported in Other Comprehensive Income, not in net income. !!! Tricky question

Question 2

Net income
**Other comprehensive income
1. Derivative, cash flow hedges
2. Excess adjustment of pension PBO and FV of plan assets at year end
3. Net unrealized holding gains/losses on AFS debt securities
4. TRANSLATION gain and loss
**Comprehensive Income

Question 3

Pay attention what is the question asking for foreign currency: what is the gain/loss recognized when AR is collected? It is only the amount on February 1 when it was collected, don’t add the gain/loss from December 31.!!!
Or the question ask what is the gain/loss in year 2? Just provide gain from that period, don’t add the December 31 gain/loss.