위험회피효과 평가와 위험회피회계

An entity that elects to apply hedge accounting is required at the inception of the hedge to establish risk management strategy. For assessing hedge effectiveness, the strategy contains the methods of testing hedge effectiveness and critical values for distinguishing highly effective hedge from less effective or ineffective hedge. As a major qualification for hedge accounting, the entity must have expectation on an ongoing basis that the hedging relationship will be highly effective over future period in achieving offsetting changes in faire value or cash flows. The hedging entity must also determine whether the hedging relationship has been highly effective in achieving offsetting changes in faire value or cash flows.However, Korean accounting standard(Interpretation 53-70) does not have implementation guidance on hedge effectiveness testing, whereas US accounting standard(SFAS 133 and 138) and International Accounting Standard(IAS 39) have. Futhermore, Korean entities who apply hedge accounting in 2003 accounting year barely disclose testing methods, critical values, and testing results. As a result, there is much room for discretionary application of hedge accounting. One of the important reasons of inappropriate disclosure may be unpreparedness of implementation guidance. To solve such an accounting problem, it is needed to provide understandable guidance for assessing hedge effectiveness, which contains the methods for both prospective testing and retrospective testing and decision rules. The guidance can be prepared based on dollar-offset method, regression method, and variability- reduction method whose logics this paper develops.