96More specifically, a cash flow hedge is accounted for as follows:

96 More specifically, a cash flow hedge is accounted for as follows:

(c) if an entity’s documented risk management strategy for a particular hedging relationship excludes from the assessment of hedge effectiveness a specific component of the gain or loss or related cash flows on the hedging instrument (see paragraphs 74, 75 and 88(a)), that excluded component of gain or loss is recognised in accordance with paragraph 5.7.1 of AASB 9.

49 Paragraphs 103K, 104 and 108C are amended to read as follows, paragraphs 103H-103J, 103L, 103M and 105-105D are deleted and paragraph 103O is added:

103K AASB 2009-5 Further Amendments to Australian Accounting Standards arising from the Annual Improvements Project, issued in May 2009, amended paragraphs 2(g), 97 and 100. An entity shall apply the amendments to those paragraphs prospectively to all unexpired contracts for annual periods beginning on or after 1 January 2010. Earlier application is permitted. If an entity applies the amendment for an earlier period it shall disclose that fact.

103L [Deleted by the IASB]

103M [Deleted by the IASB]

103O AASB 2010-7 Amendments to Australian Accounting Standards arising from AASB 9 (December 2010), issued in December 2010, amended paragraphs 2, 4, 8, 9, 58, 63, 88(d), 89(b), 90, 96(c), 103K, 104, 108C, AG3-AG4, AG8, AG84, AG95, AG114(a) and AG118(b) and deleted paragraphs 1, 10-57, 61, 66-70, 79, 103H-103J, 103L, 103M, 105-105D, AG4B-AG4K, AG9-AG12A, AG14-AG15, AG27-AG83 and AG96. An entity shall apply those amendments when it applies AASB 9 as issued in December 2010.

104 This Standard shall be applied retrospectively except as specified in paragraph 108. The opening balance of retained earnings for the earliest prior period presented and all other comparative amounts shall be adjusted as if this Standard had always been in use unless restating the information would be impracticable. If restatement is impracticable, the entity shall disclose that fact and indicate the extent to which the information was restated.

108C Paragraphs 73 and AG8 were amended by AASB 2008-5 Amendments to Australian Accounting Standards arising from the Annual Improvements Project issued in July 2008. Paragraph 80 was amended by AASB 2009-5 Further Amendments to Australian Accounting Standards arising from the Annual Improvements Project issued in May 2009. An entity shall apply those amendments for annual periods beginning on or after 1 January 2009. Earlier application of all the amendments is permitted. If an entity applies the amendments for an earlier period it shall disclose that fact.