BT 2016 Annual Report Download - page 174
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180 BT Group plc
Annual Report 2016
in equity, in the cash flow reserve. For cash flow hedges of
recognised assets or liabilities, the associated cumulative gain
or loss is removed from equity and recognised in the same line
of the income statement and in the same period or periods
that the hedged transaction affects the income statement. Any
ineffectiveness arising on a cash flow hedge of a recognised asset
or liability is recognised immediately in the same income statement
line as the hedged item. Where ineffectiveness arises on highly
probable transactions, it is recognised in the income statement
line which most appropriately reflects the nature of the item or
transaction.
Fair value hedges
When a derivative financial instrument is designated as a hedge
of the variability in fair value of a recognised asset or liability, or
unrecognised firm commitment, the change in fair value of the
derivative that is designated as a fair value hedge is recorded
in the income statement at each reporting date, together with
any changes in fair value of the hedged asset or liability that is
attributable to the hedged risk.
3. Signicant accounting policies continued