commiss regul ec decemb amend regul ec adopt intern account standard accord regul ec european parliament council intern account standard ia text eea relev commiss european commun regard treati establish european commun regard regul ec european parliament council juli applic intern account standard articl thereof commiss regul ec intern standard interpret extant septemb adopt commiss adopt intern account standard ia exclus provis relat full fair option hedg account commiss regul ec novemb amend regul ec adopt intern account standard accord regul ec european parliament council insert ia commiss adopt improv ia standard limit fair option commiss regul ec april intern account standard board iasb publish amend ia allow entiti design circumst forecast intragroup transact denomin foreign currenc hedg item consolid financi statement common risk manag practic design foreign currenc risk forecast intragroup transact hedg item current ia permit hedg account current ia transact extern entiti design hedg item consult technic expert field confirm amend ia meet technic criteria adopt set articl regul ec regul ec amend measur provid regul accord opinion account regulatori committe adopt regul articl annex regul ec intern account standard ia amend set annex regul articl compani appli amend ia set annex regul commenc date financi year latest articl regul enter forc dai public offici journal european union regul bind entireti directli applic member state brussel decemb commiss charli mccreevi member commiss oj oj regul amend regul ec oj oj oj annex intern account standard ia amend intern account standard ia titl ia financi instrument recognit measur reproduct allow european econom area exist right reserv eea except reproduc purpos person fair deal inform obtain iasb www iasb org paragraph replac quot hedg account purpos asset liabil firm commit highli probabl forecast transact involv parti extern entiti design hedg item hedg account appli transact entiti segment group individu separ financi statement entiti segment consolid financi statement group except foreign currenc risk intragroup monetari item payabl receiv subsidiari qualifi hedg item consolid financi statement result exposur foreign exchang rate gain loss fulli elimin consolid accord ia quot effect foreign exchang rate quot accord ia foreign exchang rate gain loss intragroup monetari item fulli elimin consolid intragroup monetari item transact group entiti function currenc addit foreign currenc risk highli probabl forecast intragroup transact qualifi hedg item consolid financi statement provid transact denomin currenc function currenc entiti enter transact foreign currenc risk affect consolid profit loss quot paragraph insert quot entiti appli sentenc paragraph paragraph ag ag annual period begin januari earlier applic encourag entiti design hedg item extern forecast transact denomin function currenc entiti enter transact rise exposur effect consolid profit loss denomin currenc group present currenc qualifi hedg account denomin function currenc entiti enter appli hedg account consolid financi statement period date applic sentenc paragraph paragraph ag ag entiti appli paragraph ag compar inform relat period date applic sentenc paragraph paragraph ag quot appendix applic guidanc paragraph ag ag renumb ag ag paragraph ag ag ag insert quot ag paragraph state consolid financi statement foreign currenc risk highli probabl forecast intragroup transact qualifi hedg item cash flow hedg provid transact denomin currenc function currenc entiti enter transact foreign currenc risk affect consolid profit loss purpos entiti parent subsidiari associ joint ventur branch foreign currenc risk forecast intragroup transact affect consolid profit loss intragroup transact qualifi hedg item case royalti payment interest payment manag charg member group relat extern transact foreign currenc risk forecast intragroup transact affect consolid profit loss intragroup transact qualifi hedg item forecast sale purchas inventori member group onward sale inventori parti extern group similarli forecast intragroup sale plant equip group entiti manufactur group entiti plant equip oper affect consolid profit loss occur plant equip depreci purchas entiti amount initi recognis plant equip chang forecast intragroup transact denomin currenc function currenc purchas entiti ag hedg forecast intragroup transact qualifi hedg account gain loss recognis directli equiti accord paragraph reclassifi profit loss period period foreign currenc risk hedg transact affect consolid profit loss ag entiti design forecast intragroup transact hedg item start annual period begin januari purpos restat compar inform start earlier compar period hedg qualifi hedg account accord standard amend sentenc paragraph entiti design appli hedg account consolid financi statement start annual period begin januari start earlier compar period entiti appli paragraph ag ag start annual period begin januari accord paragraph appli paragraph ag compar inform earlier period quot