Module Code Module Title Assignment Title Module Contribution BS 3521 Advanced Corporate Reporting Contemporary issues in Corporate Reporting R：公允价值计量对capital market outcomes的影响；capital outcomes would be 40% typically share, share prices and also interest rates 学术界、政策制定者和从业者都试图将资本市场的积极和消极结果归因于公司财务报告中的公允价值计量 由于最近的全球⾦融危机以及对公允价值计量的⽇益依赖，⼈们对这⼀主题的兴趣加剧了，⽽公允价值计量本身就存在偏差和计量误 差 “Academics, policymakers, and practitioners alike have sought to attribute both positive and negative capital market outcomes to fair value measurements in corporate financial reports. Interest in this topic intensified because of the recent global financial crisis and because of increasing reliance on fair value measurements that are inherently subject to bias and measurement error.” (McDonough et al., 2020, p. 303) Requirement: In response to the above quote by McDonough et al. (2020), prepare a professional report that critically discusses fair value and its role within financial reporting. 要求：针对McDonough等⼈的上述引⽤（2020），编写⼀份专业报告，批判性地讨论公允价值及其在 Marking Criteria 财务报告中的作⽤ Your mark will consist of the following elements: Criteria [explained within Appendix I – Assessment Criteria] Knowledge and understanding 知识和理解 Quality of critique 批判的质量 Weighting (%) 40 40 Communication, referencing and adherence to the word limit 10 Professional presentation 10 沟通，引⽤ 和 遵循字数限制 专业地呈现 Total 100 Presentation guidance: Your professional report should be no more than 2,000 words. The word count includes in-text citations, figures/tables but excludes your reference list. 呈现指导：你的专业报告字数不应超过2,000字；字数包括⽂内引⽤、图表/表格，但不包括参考⽂献列表 As a professional document, you are required to consider and use an appropriate presentation style including font and structure. 作为⼀份专业⽂件，你需要考虑并使⽤合适的呈现⻛格，包括字体和结构 Submission: The submission date is Wednesday 13 December. Submission will be electronic via Learning Central. Further guidance on this will be made available within the Assessment Area of Learning Central. 提交：提交⽇期为12⽉13⽇星期三。将通过学习中⼼进⾏电⼦提交；有关这⽅⾯的进⼀步指导将在学习中⼼的评估区域内提供 如何处理这个作业： 作为⼀种计量基础，公允价值的影响范围⼴泛，涉及财务报告的多个领域 因此，你有机会将你的⼯作指向你感兴趣的领域：例如，这可能是公允价值的使⽤⽅式、解释⽅式、对财务报表⽤户的影响，或市场 对公允价值变化的反应（例如2008年的银⾏危机） 因此，为了开始探索这个话题，我建议你阅读以下内容： Additional Guidance How to approach this assignment: As a measurement basis, fair value is far reaching and impacts several areas of financial reporting. Therefore, you have an opportunity to direct your work in an area that interests you: for example, this may be how fair value is used, how it is interpreted, its impact on users of financial statements or how markets react to changes in fair value (e.g. the banking crisis of 2008). Therefore, to begin your exploration of this topic, I suggest you read the following: DeFond, M., Hu, J., Hung, M. and Li, S., 2020. The effect of fair value accounting on the performance evaluation role of earnings. Journal of Accounting and Economics, 70(2-3), p.101341. Landsman, W. (2007). Is fair value accounting information relevant and reliable? Evidence from capital market research. Accounting and Business Research, Special Issue, pp. 19-30. McDonough, R., Panaretou, A. and Shakespeare, C. (2020). Fair value accounting: Current practice and perspectives for future research. Journal of Business Finance and Accounting, 47, 303– 332. Mora, A., McGeachin, A., Barth, M.E., Barker, R., Wagenhofer, A. and Joos, P., 2019. Fair value accounting: the eternal debate–AinE EAA Symposium, May 2018. Accounting in Europe, 16(3), pp.237255. 我如何找到相关的⽂献： 因为这个课程涉及财务会计，你的搜索应该聚焦于找到相关的⽂献 这意味着你应该寻找那些基于会计理论、发表在知名会计和⾦融期刊上，以及涉及你想要了解的特定公允价值领域的⽂献 How do I find relevant literature?: As the module is grounded in financial accounting, your search should be focused on finding literature that is relevant i.e. is grounded in accounting theory, is written in established accounting and finance journals and is addressing the relevant fair value area you wish to understand. To help you, here are some top tips: 以下期刊常常发表关于公允价值或财务报告领域的⼯作 • The following journals routinely publish work in the areas of fair value or financial reporting Critical Perspectives on Accounting 会计批判视⻆ Abacus Accounting and Business Research 会计与商业研究 European Accounting Review 欧洲会计评论 Accounting, Auditing & Accountability Journal International Journal of Accounting Accounting in Europe 会计在欧洲 Journal of Accounting, Auditing & Finance Accounting Horizons 会计视野 Journal of Accounting and Economics 会计审计与问责期刊 国际会计期刊 会计审计与⾦融期刊 Accounting, Organizations and Society 会计、组织与社会 Journal of Accounting Literature 会计与经济期刊 会计⽂献期刊 The Accounting Review 会计评论 Journal of Accounting and Public Policy Accounting & Finance 会计与⾦融 Journal of Accounting Research 亚太会计与经济 会计与公共政策期刊 Asia-Pacific Journal of Accounting & Economics 会计研究期刊 Journal of Applied Accounting Research Auditing: A Journal of Practice & Theory Journal of Business Finance & Accounting Australian Accounting Review 审计：实践与理论期刊 澳⼤利亚会计评论 British Accounting Review 英国会计评论 Contemporary Accounting Research 当代会计研究 应⽤会计研究期刊 Review of Accounting Studies 商业⾦融与会计期刊 会计研究评论 Review of Quantitative Finance and Accounting 量化⾦融与会计评论 在寻找相关⽂献时，审阅 那些引⽤了你已经发现的研究的论⽂（G：这句话的意思是，在进⾏⽂献搜索时，你不仅应该关注你已经找到 的那些研究论⽂，⽽且还应该检查那些引⽤了这些论⽂的其他论⽂） • • When searching for relevant literature, review papers that cite the work you have already found. Review the academic literature that may be cited by professional bodies or governmental reports. 审阅可能被 专业机构 或 政府报告 引⽤的 学术⽂献 Frequently asked questions (FAQs) 如何呈现我的⼯作？ 你被要求准备⼀份“专业报告”，因此，你需要考虑如何专业地呈现你的⼯作；考虑你是向谁展示这项⼯作，什 么是合适的结构（例如标题/段落），同时记住你正在展示关于公允价值的学术讨论 How should I present my work? You have been asked to prepare a ‘professional report’ and in turn, you need to consider how to present your work professionally. Consider who you are presenting the work to, what is an appropriate structure 我应该使⽤多少参考⽂献？ (i.e. headings/paragraphs), while remembering you are presenting an academic discussion of fair value. 没有确切的答案 - 你应该有⾜够多的参考⽂献来允许你清晰地批判你选择的领域；因此，例如，两个参考⽂献可能不⾜以让你反思和讨论，但由于字数限制，20个可能 太多 How many references should I use? There is no definitive answer – you should have a sufficient number to allow a clear critique of the area you have chosen. Therefore, for example, two references would not give you sufficient information to reflect on and discuss, however 20 may be too many due to the word limit. 我应该变得多技术化？ How technical should I get?你的作业是展示你批判性思维能⼒的机会 因此，我不期望你过于技术化，例如引⽤任何相关标准的段落 然⽽，你可能需要反思这些问题的财务报告，来描述它们是如何影响你或他⼈的观点的 因此，可能需要⼀些细节，例如公允价值（FV）是如何获得的？ Your assignment is an opportunity for you to demonstrate your critical ability. Therefore, I am not expecting you to get too technical, for example citing paragraphs of any relevant standards. However, you may need to reflect on the financial reporting of these issues to describe how they impact your views or those of others. Therefore, some detail may be needed e.g. how are FV values obtained? 我可以引⽤你的讲座幻灯⽚和教科书吗？ Can I cite your lecture slides and text books?教科书通常不会包含⼤量的研究内容，因此应该谨慎使⽤ 讲座笔记是基于阅读材料的，所以通常不期望引⽤幻灯⽚ Text books generally will not have a significant amount of research in them so they should be used sparingly. Lecture notes are based on the readings and so would not expect slides to be cited. Can I look at work that is using data from outside the UK? Yes – a lot of the literature on some areas is US based but that does not mean it is irrelevant. However, do not discuss at length standards that are not related to IFRS, but you may use a work’s conclusions and concepts. 我可以查看使⽤来⾃英国以外数据的⼯作吗？ 可以 - 许多领域的⽂献是基于美国的，但这并不意味着它们不相关；然⽽，不要详细讨论与国际财务报告准则（IFRS）⽆关的标准，但你可以 使⽤这些⼯作的结论和概念 How much detail of a paper I cite should I use? The purpose of citing the work is firstly to demonstrate where the idea or conclusion originated from, but also to allow the reader to locate this evidence and study it further if they wish. Therefore, copying tables or large amounts of results is not required. Your discussion should be using the cited work as part of your arguments and so there is a balance needed between too much and too little. 我引⽤的论⽂中应该使⽤多少细节？ Can you review a draft and comment on my work? 引⽤⼯作的⽬的⾸先是展示想法或结论从何⽽来， 但也是为了让读者能够找到这些证据并进⼀步研究 它们；因此，不需要复制表格或⼤量结果；你的讨 论应该将引⽤的⼯作作为你论点的⼀部分，因此在 过多和过少之间需要平衡 I am unable to read a draft, but happy to discuss high level ideas or areas where you may need clarity (e.g. technical aspects or concepts which you do not understand). 你能审阅草稿并对我的⼯作进⾏评论吗？ How do I reference? 我⽆法阅读草稿，但很乐意讨论⾼层次的想法或你可能需要澄清的领域（例如技术⽅⾯或你不理解的概念） Use the Cardiff University Harvard guide. More information on this can be found through the library and on the intranet. Search the intranet for ‘Citing and referencing support’ and select ‘Cardiff Harvard’ where there are videos and guidance for you. 我该如何引⽤？ What if I exceed the word limit? 使⽤卡迪夫⼤学哈佛引⽤指南；更多关于此的信息可以通过图书馆和内⽹找 到，在内⽹搜索“引⽤和参考⽀持”，然后选择“卡迪夫哈佛”，那⾥有视频和指导 供你参考 You will be penalised within the marking criteria ‘Communication, referencing and adherence to the word 如果我超出了字数限制怎么办？ limit’. 你将在评分标准中的“沟通、引⽤和遵守字数限制”⽅⾯受到惩罚 Academic misconduct Plagiarism - The use of someone else's words, ideas, intellectual property, or work, without proper acknowledgement by use of correct referencing conventions, or necessary permissions. [As defined by the University located within the Student Intranet: Home -> Study -> Exams, assessment and feedback -> Academic integrity -> Academic misconduct]. As you complete your work, you may be tempted to ‘copy and paste’ material from other sources as a basis of your own writing to develop within your report – however this is a poor approach as frequently the copied work is not presented as a quote correctly or paraphrased sufficiently to be your own work. Therefore, this approach can identify your work as plagiarised and subsequently be penalised. 剽窃 - 使⽤他⼈的⽂字、想法、知识产权或⼯作，⽽未通过使⽤正确的引⽤惯例或必要的许可来适当地承认 [由⼤学在学⽣内⽹中定义：⾸⻚ -> 学习 -> 考试、评估和反馈 -> 学术诚信 -> 学术不端⾏为] Where can I access help? 在完成你的作业时，你可能会受到诱惑，将其他来源的材料“复制和粘贴”作为你⾃⼰写作的基础，在你的报告中发 展 - 但这是⼀种不佳的⽅法，因为经常复制的⼯作没有正确地作为引⽤呈现或没有⾜够地改写以成为你⾃⼰的⼯作 因此，这种⽅法可能会使你的⼯作被识别为剽窃，并随后受到惩罚 The University provides a wide range or sources which can be located within the intranet. An excellent start is the Citing and referencing support section [Home -> Study -> Study skills -> Writing and referencing -> Citing and referencing support]. Here you will locate an ‘Avoiding plagiarism’ tutorial which will guide you through issues such as plagiarism, paraphrasing, summarising and referencing. 我在哪⾥可以获得帮助？ ⼤学在内⽹提供了⼴泛的资源 ⼀个很好的起点是引⽤和参考⽀持部分[⾸⻚ -> 学习 -> 学习技能 -> 写作和引⽤ -> 引⽤和参考⽀持]；在这⾥，你会找到⼀个“避免剽窃”的 教程，它将指导你了解剽窃、改写、总结和引⽤等问题 Appendix I – Assessment Criteria Mark range >70% 60% to 69% Knowledge and Outstanding. Original in content Coverage of the topic is in great understanding or approach. Coherent and depth, detail is accurate clear. Comprehensive coverage throughout: independence of analysis, application, and thought is clear, there is good evaluation. identification and understanding of key issues. 优秀杰出 内容或⽅法上的原创性 连贯 清晰 全⾯覆盖分析、应⽤和评估 Quality of critique Accurate information aggregated and sorted for logical connections and critically interpreted. Evidences creative insights. A comprehensive range of appropriate materials/literature. 对主题的涵盖⾮常深⼊，细节贯穿 始终准确：思想独⽴性清晰，对关键 问题有良好的识别和理解 There is evidence of critical analysis, systematic analysis of source material. There is an evaluative approach throughout much of the work, useful links are drawn between theoretical aspects evidence presented. A wide range of appropriate materials/literature. 50% to 59% 40% to 49% < 40% Most relevant issues are Some relevant issues are Levels of understanding covered with reasonable covered. Little evidence of: and knowledge are often understanding: development of independent thought, superficial. The detail is discussion demonstrates discussion shows partial slight and not always adequate knowledge; most understanding of the relevant central issues are identified. subject. ⼤多数相关问题都被合理地理解并涵 盖：讨论的发展 展示了⾜够的知 识；⼤部分核⼼问题都被识别出来 Development of analysis not entirely consistent; work is primarily descriptive; material is from a variety of sources & theory present but not in depth. The work makes use of a relevant but not wide range of sources; may be unsubstantiated at times. 涵盖了⼀些相关问题。⼏乎 没有显示出：独⽴思考的证 据，讨论显示出对主题的部 分理解 理解和知识⽔平通常是肤浅的 细节内容少且并⾮总是相关 The work is descriptive and Little attempt to sometimes superficial, interpret material. there is little consideration Consideration of of alternative views. theoretical issues is Limited reading has been limited. Evidence of undertaken; may be an only superficial use of over-reliance on a few academic or professional sources. literature. Referencing and References are well References are well incorporated References are not all cited References not always References are not adherence to incorporated and presented and presented accurately using correctly. Student has adhered cited properly. Student has integrated well and/or the word limit accurately using the Harvard the Harvard system. Student has to the word limit. not adhered to the word cited inaccurately. system. Student has adhered to adhered to the word limit. limit. Student has not adhered the word limit. to the word limit. Professional presentation Creative use of structure and connections between sections to reflect a well-constructed and original argument. A very high academic and professional standard, with creativity in the use of language. Accurate and well-presented data. The work is very well structured. Links between introduction and Relationship between Structural devices (language & conclusion are sufficiently introduction and paragraphing) enhance the work. developed; there is a logical conclusion is limited. Ideas The work is clearly expressed in argument evident. Mode of are expressed reasonably an appropriate style, points are communication is appropriate but at times points are not made with clarity, care has been and coherent; expression is made clearly. Little taken to ensure accuracy of clear; occasional errors may attempt at a professional punctuation, spelling and detract from the accuracy. A presentation has been grammar. A professional professional presentation has made. presentation has been used. been used. Planning appears to be weak; structure may not be appropriate It is sometimes difficult to trace the logic. Ideas not expressed with sufficient clarity. Poor flow sequence and consistency. No attempt at a professional presentation has been made. 准确的信息被汇总并分类以形成逻辑联 系，并进⾏了批判性解读 展现出创造性⻅解 ⼴泛使⽤了合适的材料/⽂献 参考⽂献被很好地融⼊并准确地使⽤ 哈佛系统呈现 学⽣遵守了字数限制 存在对源材料进⾏批判性分析和系统分 析的证据 整个作品中⼤部分都采⽤了评估性的⽅ 法，有效地将理论⽅⾯和呈现的证据联 系起来 使⽤了⼴泛的 合适材料/⽂献 参考⽂献被很好地融⼊并准确地使⽤哈佛 引⽤系统呈现 学⽣遵守了字数限制 分析的发展并不完全⼀致 ⼯作主要是描述性的；材料来⾃ 多种来源，理论存在但不深⼊ ⼯作使⽤了相关但范围不⼴的资 源 有时可能缺乏充分证据 结构的创造性使⽤和各部分之间的联 系，反映了⼀个构建良好且原创的论 点 具有⾮常⾼的学术和专业标准，并在 语⾔使⽤上富有创造性 数据准确且呈现得当 结构性⼿段（语⾔和段落划分）增强了 作品的效果 作品以适当的⻛格清晰表达，观点阐述 明确，注意确保标点、拼写和语法的准 确性 使⽤了专业的呈现⽅式 阅读有限；可能过度依赖少数 ⼏个来源 ⼏乎没有解释材料的尝试 对理论问题的考虑有限 只表现出对学术或专业⽂献的肤浅使⽤ 参考⽂献未始终正确引⽤ 学⽣未遵守字数限制 并⾮所有参考⽂献都被正确引⽤ 学⽣遵守了字数限制 作品结构⾮常 完善/很好 这份⼯作是描述性的，有时较 肤浅，很少考虑其他观点 参考⽂献没有很好地整合，或者引⽤不准确 学⽣没有遵守字数限制 引⾔和结论之间的关系有限 计划似乎较弱； 观点表达得相当合理，但有时不 结构可能不合适 引⾔和结论之间的联系得以充分展开 够清晰 有明显的逻辑论证 未进⾏太多专业呈现的尝试 有时很难追踪逻辑 沟通⽅式适当且连贯 观点表达不够清晰 表达清晰 流程顺序和⼀致性较差 偶尔的错误可能会影响准确性 没有尝试进⾏专业呈现 采⽤了专业的呈现⽅式
