Introduction <Tab/>During the past two decades, financial markets around the world have become increasingly interrelated. Financial globalization has brought considerable benefits to national economies and to investors, but it has also changed the structure of markets, creating new risks and challenges for market participants and policymakers. The international marketplace continues to present opportunities for companies. But change is constant and prudent so companies must work to minimize their risks while …showed first 75 words of 1106 total…

…showed last 75 words of 1106 total…versus the transaction date. It involves market prices which have been previously determined at the time of the commitment. The commitment is a fair value hedge and must meet specific criteria for special accounting treatment. References PanAmSat (2003). "Risk Factors" [Online] Location: http://www.panamsat.com/company/riskfactors.asp Giddy, Ian H. and Dufey, Gunter. (1992). The Handbook of International Accounting. "The Management of Foreign Exchange Risk" [Online] Location: http://pages.stern.nyu.edu/~igiddy/fxrisk.htm