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Graphs
图表
Voluntary disclosures
自愿性信息披露
Unregulated, except that an ASB Discussion Paper 2000 on Communication recognises graphs to be a ‘powerful communication tool’
无管制，除了ASB讨论稿2000年通信识别图形是一个强大的通信工具'
Graphs: communication advantages
图表：传播优势
See Beattie & Jones (1992;2002)
Graphs attract attention, are ‘graphical sound bites’
Graphs rely on spatial intelligence - enables perception of comparisons, trends, anomalies
Graphical data can be readily retrieved
Provide oases of colour and interest
http://www.ukassignment.org/lxszy/
Barclays 2005
巴克莱银行2005
Graphs: potential bias
图表：潜在的偏见
Selectivity in graphs shown
在显示的图表中选择
Selectivity of time series
时间序列的选择性
Measurement distortion Beattie & Jones (1992) pp. 295-6 - trend exaggeration
测量失真
Elaborate formats
精心格式
Positioning of related commentary
相关评论定位
Narratives
叙述
Regulation varies – eg
Notes to accounts are regulated
Corporate governance disclosures are regulated
OFR is best practice as per the Accounting Standards Board (Reporting Statement 1 – persuasive, not mandatory)
Chairman’s statement is custom and practice on the part of management – not regulated except for the auditing ‘consistency’ requirement
Narratives and readability studies
叙述和可读性研究
Jones & Shoemaker (1992)
Use indices (eg Flesch, Fog, Lix) (dubious instruments)
Find annual reports’ readability difficult/v.difficult
Find Chairman’s Statement/President’s Letter more readable than footnotes
Annual reports less readable than employee reports
Have become harder to read over time
Courtis (1998) - no link readability/financial results
Lix index to measure readability
The LIX Formula
LIX = W/S+(100*LW)/W
Where: LIXLIX index score
W Number of words
LW Number of long words (7+ characters)
S Number of sentences
LIX Index Table
0-24 Very easy
25-34 Easy
35-44 Standard
45-54 Difficult
55 and above Very difficult
Narratives and variability in Chairman’s Statement
主席陈述的叙述和可变性
Courtis (1998)
There is variability
First 100 words the easiest
Last 100 words middle difficulty, Middle passage the hardest.
So – is there obfuscation?
No association found between variability/results
Positive association harder readability/greater press coverage - because in ‘public eye’
Good news/bad news and Chair’s statement
好消息/坏消息和主席的陈述
Clatworthy & Jones (2003)
Improving performers more good news than bad news
Declining performers do not dwell on bad news
All performers accentuate the positive
All performers attribute the cause of the news to reflect well on themselves. If good, to themselves; if bad, to the external environment (‘Attribution’ analysis)
Auditors’ reports - no mention of inconsistency
Pictures
图片
Remain almost totally unregulated (except for ‘consistency’ audit requirements; often excluded from opinion)
仍然几乎完全不受管制（除“一致性”的审计要求，往往被排除在意见）
Remain almost totally unresearched.
保持几乎完全未被研究的
What messages do they convey? We have no clear answers.
它们所传达什么样的讯息？我们还没有明确的答案
Huge variety of messages conveyed simply or artfully. May portray brands, other intangibles, or be more concerted perception engineering.
巨大的各种简单或巧妙传达的消息。可以塑造品牌，其他无形资产，或者是比较一致的看法工程。
Davison (2007; 2008; 2009)
Reuters front cover 2000
路透社封面2000
Oxfam front cover2003/4
乐施会封面2003/4
Ernst & Young front cover 2008
Cox Enterprises 2005
Lukoil 2005
Pictures & globalisation
图片&全球化
Preston & Young (2000)
22 pictures from annual reports around the world
Examines
Ethnoscape
Technoscape
Finance scape
Landscape
Summary
总结
Communication a burgeoning issue in international accounting
在国际会计中沟通一个增长迅速的问题
Growth of non-accounting content of annual reports
增长的非会计年度报告的内容
Confusing regulation
混淆规则
Do the messages in graphs/narratives/pictures
消息是在图表/叙事/图片
reinforce financial results?
加强财务业绩？
communicate broader issues?
沟通更广泛的问题吗？
represent impression management?
代表印象管理？
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