Professional Documents
Culture Documents
I. SUMMARY
1
The author cited Philippine Seven Corporation as an example of a
company that uses fair value accounting on its financial instruments. Emphasis
was given on the valuation of transactions arising from customer loyalty
programs.
The author concluded the paper by posing a challenge on harmonization
in the measurement of fair value, and stating the need to continually monitor
changes in the standards as IFRS and US GAAP continues to work hand in
hand.
b. Limitations
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discussions should have been triggered by the agreements or disagreements
of the author on the articles statements or issues. Moreover, agreements and
disagreements of the author about the statements of the article were not
thoroughly discussed as to why she agreed or disagreed to the statements.
Providing her opinion accompanied by observation, experience, and/or facts of
the could have convinced readers more of her stand.
Second, the structure of the paragraphs was not able to provide a natural
flow of the discussion of the author. There were a lot of ideas, majority are very
broad, in a paragraph that it was not easy to extract the main argument or
discussion. Also, major and minor issues were not distinguished which could
have made it easier for readers to get the gist of the discussion.
“In the US, a few among them have years of experience operating in the
financial reporting arena and may carry credentials such as Chartered
Financial Analyst®, Accredited Senior Appraiser of the American Society of
3
Appraisers, or the Accredited in Business Valuation credential (issued by
the AICPA).”
Lastly, there were also statements that were taken directly from the
article but was not cited properly. The statement is, “In addition, educating
business leaders and company executives regarding valuation should help
them understand the need for, and value of, qualified fair value specialists when
developing fair value estimates, whether employed internally or engaged
externally.” Citing external sources in any written literature is very important
especially when it is covered by a copyright.
III. RECOMMENDATIONS
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Review some parts of the paper to minimize grammatical,
spelling, and punctuation errors.
IV. BIBLIOGRAPHY
Forseythe, G. (2015). Valuation in the fair value era. Higher quality can help
companies reduce risk and enhance shareholder value. Retrieved from
https://www2.deloitte.com/us/en/pages/advisory/articles/valuation-fair-
value-article.html