Great question! Generally: no.

However there are very few "absolutes" in beekeeping and plenty of exceptions to any 'rule'. If, by Bearding, you mean the bees hanging around outside the hive (especially the hive entrance) verses the actual swarming impulse, then most likely these to events you're observing are not related.

They tend to happen at different times of the year (again, I'm talking in generalities). Swarming, occurring at a peak in Springtime and what you're calling 'Bearding', happening in mid to late Summer. Obviously the bees don't follow the rules of man, so each event can (and does) happen at various other times also.

Bearding is a form of hive air-conditioning; the bees depart the immediate brood nest area in order to help keep it at the desired temperature (too many busy bee bodies = too many BTUs). When you see all the bees outside the hive an hour before sundown, you'll also notice the following morning (early a.m.), most if not all, have gone back inside the hive because the outside air temperature (and thus the hive temp) has dropped - again, just a way they regulate the brood nest temperature. This is less likely to be observed in the Spring or early Spring when Swarming is at it's peak.

If you have a hive that's on the verge of swarming, you won't so much see the bees "bearding" as you'll observe them actually departing the hive and yet not really leaving the immediate area of the hive. There may be a "small cloud" of bees hovering eight or ten feet in front of the hive and five to fifteen feet above ground level. And they may do this activity a few times before the main body of the swarm actually departs the hive. Eventually these false starts will lead to the final departure with the swarm queen - usually the old queen - unless your hive is throwing off multiple swarms, in which case, even a virgin queen can lead a swarm away (usually a MUCH smaller swarm).