Widely regarded as the most complicated standard ever issued to date, IAS 39 'hedge accounting' is a special accounting treatment that reduces the earningsvolatility impact of derivatives. The implementation of hedge accounting is very complex even for simple hedging strategies. Most of the scarce literature on hedge accounting has been written by academic professors or by accounting firms, as a result their emphasis lacks a practical angle. This Book shares the insights of the author's day-to-day experience advising companies on how to minimize the earnings volatility impact of hedging with derivatives.