Identify and Explain the Methods Required Under AASB 139 to Account

question 26

Essay

Identify and explain the methods required under AASB 139 to account for a futures contract both at its inception and for subsequent changes in its fair value.

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Definitions:

Watch

To observe or monitor attentively, often used in the context of keeping track of time, surveillance, or consuming visual media.

Handheld Recording Device

A portable device designed for capturing audio and/or video recordings.

Journalist

A journalist is a professional who gathers, writes, or disseminates news and information to the public through various media.

Technology

The application of scientific knowledge for practical purposes, especially in industry, including the development of machinery, equipment, techniques, and processes.