This booklet contains information on completing a Michigan Business Tax return for calendar year 2023 or a fiscal year ending in 2024. If rates rise, the mark-to-market values of the Eurodollar contracts decrease; their yields must increase to equal the new higher forward and spot LIBOR rates.A forward contract is a customized contract between two parties to buy or sell an asset at a specified price on a future date. For receipting transactions involving cash or checks, departments should use a prenumbered receipt form which can be obtained from the Spartan Marketplace. First, you close out your asset and liability accounts. I'll go through an example of how to record a forward contract on a balance sheet from both the sellers perspective in the buyers perspective. This document allows a buyer and seller to stipulate an asset to be sold at a specific date in the future. For example, forward contracts can help producers and users of agricultural products hedge against a change in the price of an underlying asset or commodity. The forward contract provides the lowest CERTAIN cost hedging method for payment settlement. Once the University has approved the Independent Contractor status, complete the Independent Contractor Agreement.