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FAR Flashcards > Lesson 6 Foreign Operations > Flashcards

Lesson 6 Foreign Operations Flashcards

1
Q

When is the spot rate used?

A

For Receivables & Payables at time of sale

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2
Q

When is Forward rate used?

A

Forward exchange or future contract

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3
Q

When a derivative is accounted for as a cash flow hedge it is reported

A

At its FV on the balance sheet and any increases or decreases are recognized as unrealized G/L in OCI

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FAR Flashcards (23 decks)

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