How required the board of directors has approached

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The board of directors has resolved to change its accounting policy for capitalising gains or losses on its cash flow hedges recognised in other comprehensive income. Previously, such gains or losses were capitalised to hedged items but the directors now believe that taking such gains or losses to profit or loss is a more appropriate treatment. Due to a recent computer virus, all data from the non-current asset register, including specific depreciation details from prior periods, has been destroyed.

Question 1: Required the board of directors has approached you for advice regarding the disclosures, if any, that are required for this change in accounting policy.

Reference no: EM132597069

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