It is important for accountants to understand advanced accounting transactions. For this final project you will complete several advanced accounting transactions related to hedging.

There are several requirements for this Portfolio Project which should be submitted during the weeks when there are Portfolio Project Milestones (in Modules 2, 3, and 5).

Part 1: Journal Entries

Required:

1). Journal entries for hedging an unrecognized foreign currency firm commitment for two situations.

Key component:

Use the case information and financial data in theOption 1 templatefile (linked under this assignment in Module 8). Complete the template, which will help you organize your responses. Also, address any instructor feedback provided in the milestone submissions using Excel's comments function. Any written comments must be formatted according to theCSU-Global Guide to Writing & APA.

(Links to an external site.)

Links to an external site.

Part 2: Analysis

Researchhedgingas an unrecognized foreign currency firm commitment. Describe the proper accounting and reporting for this type of hedge with U.S. GAAP and IFRS. What are the relevant U.S. GAAP and IFRS standards? Discuss how each standard is similar or different in handling hedging reporting with these situations.

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