Oil Trading Manual : comprehensive guide to the oil markets [PDF]

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Oil Trading Manual : comprehensive guide to the oil markets – Book

If it becomes probable that, during the life of the hedge, the quantity of the anticipated transaction will be less than the quantity hedged originally, the deferred gain or loss should be prorated and an appropriate portion recognized immediately in the profit and loss account.

The remaining gain or loss should continue to be deferred and recognized when the underlying transaction occurs. If it becomes probable that the quantity of the anticipated transaction will be greater than that hedged originally, hedge accounting remains unaffected as the hedge merely becomes a hedge of part of the anticipated transaction.