What are the differences in accounting for a forward contract used as a cash flow hedge of (a) a foreign currency denominated asset or liability and (b) a forecasted foreign currency transaction?

What are the advantages or the disadvantages of hedging with currency options as opposed to future contracts in international financial transactions?

True or False? Unsettled foreign currency transactions, including financial instruments, shall be considered to contain embedded foreign currency derivatives under ASC 815 if the transactions meet all of the following criteria: They are monetary items.  They have their principal payments, interest payments, or both denominated in a foreign currency.  They are subject to the requirement …to recognize any foreign currency transaction gain or loss in earnings.   True  False

Briefly summarize the accounting issues arising from foreign currency denominated transactions