????二級(jí)原始數(shù)據(jù)是除報(bào)價(jià)以外可以直接或間接得到的信息。網(wǎng)秦列出了一些大額存單。它們都是二級(jí)原始數(shù)據(jù)?？磥?lái)2012年這家公司正確地披露了這些信息，2011年卻錯(cuò)誤地將其列為一級(jí)原始數(shù)據(jù)。舉例來(lái)說(shuō)，網(wǎng)秦在中國(guó)工商銀行北京分行（the Industrial Bank Co. Ltd Beijing Branch）有一筆1年期定期存款，面額1億元人民幣，到期日為2014年9月14日。它將這筆存款列為二級(jí)原始數(shù)據(jù)，這是對(duì)的。在2013年12月31日，沒(méi)有人會(huì)對(duì)一張8個(gè)月零14天后到期的存單報(bào)價(jià)，因此財(cái)報(bào)所需的報(bào)價(jià)并不存在。但可以按其他有報(bào)價(jià)的存單對(duì)這張存單進(jìn)行估值。

????用三級(jí)原始數(shù)據(jù)為資產(chǎn)估值的難度最大，它們包括非流通證券的利息、金融衍生產(chǎn)品或私募基金。我認(rèn)為中國(guó)的理財(cái)產(chǎn)品和委托貸款都屬于這一類。

????一小部分赴美上市的中國(guó)公司發(fā)現(xiàn)，在披露現(xiàn)金和短期投資的原始數(shù)據(jù)方面存在矛盾。在我看來(lái)，這些資產(chǎn)都應(yīng)該用二級(jí)原始數(shù)據(jù)估值，就跟網(wǎng)秦的做法一樣。這家公司對(duì)2012年年報(bào)的調(diào)整可能是在糾正2011年報(bào)表中的一個(gè)錯(cuò)誤（另：實(shí)際上，我了解到的情況是，這些新規(guī)則的生效時(shí)間是2011年以后，也就是說(shuō)2012年是適用這些新規(guī)則的第一年，只是此前存在一些類似規(guī)則）。澄清這個(gè)問(wèn)題當(dāng)然對(duì)網(wǎng)秦有好處，但公司和會(huì)計(jì)師一向都極其不愿意承認(rèn)自己所犯的錯(cuò)誤。（財(cái)富中文網(wǎng)）

????譯者：Charlie?

????Level 2 inputs are other than quoted prices that are directly or indirectly observable. NQ Mobile has released a list of major certificates of deposit. These are all classified as Level 2 inputs. It appears that they have done this correctly in 2012 and were wrong when they classified them as Level 1 inputs in 2011. For example, NQ Mobile has a one-year term deposit with a face value of 100 million Yuan maturing 9/14/2014 with the Industrial Bank Co. Ltd Beijing Branch. This is correctly classified as a level 2 input. At December 31, 2013 there will be no quoted price for CDs with a maturity of eight months and 14 days, so the necessary quoted prices will not exist. But the CD can be valued by reference to other CDs that do have quoted prices.

????Level 3 inputs are for the most difficult to value assets, such as interests in untraded securities, derivatives, or private equity funds. I think Chinese wealth management products and entrust loans belong in this category.

????A small sample of U.S. listed Chinese companies finds no consistency in how inputs for cash and short-term investments are reported. It is my view that they should all priced using level 2 inputs, as NQ Mobile has done. The change from 2011 to 2012 was probably the correction of an error. (added: Actually, I have learned that the new rules were first effective for years after 2011, so 2012 was the first year these new rules would have applied, but there were similar rules before). It sure would have helped if they had explained that, but companies and accountants hate to admit errors.