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Does the situation require the adoption of Hedge Accounting

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Reference no: EM132975955

Question - Lost Lagoon Limited (LLL),a Canadian public company, holds significant equity investments in various Australian companies none of which constitute either significant influence or control. LLL has adopted FV-OCI in reporting these investments on an ongling basis. LLL has also recently taken on significant borrowings from an Australian lending institution and LLL wishes to mitigate its foreign exchange risk.

Does the above situation require the adoption of Hedge Accounting? Why or why not; you must explain adequately.

Reference no: EM132975955

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