BUSINESS VALUATION MANAGEMENTA Note to the Student:
Business Valuation Management is a fascinating subject, as it, foremost, provides (and alsowarrants) the most comprehensive analysis of a business model. It perforce enjoins uponthe business valuer to delve into the depths of the business that is being valued and come togrips with the macro and micro, technical and ﬁnancial, the short and longer term aspects of the business.This book attempts to provide the following to you:• An easy introduction to the concept of business valuation• A complete overview of the existing business valuation models• An understanding of the importance of various assumptions underlying the valuationmodels• An easy-to-understand explanation of various business valuation techniques, with theirpros and cons• A discussion on valuation of assets and liabilities, whether tangible or intangible,apparent or contingent.• Application of the concepts in real-life situations, with many examples.The design and structure of the book are such that the book can provide vital insights into thekey issues in business valuation, suitably enhanced with many scholastic articles that can notonly provide the depth, but also bring out the complexities involved in business valuation.In writing the book, we have relied upon not only our knowledge and experience, but alsothe extensive work done worldwide by several pioneers and experts, as can be seen from thereference materials appended to the book, but also from the bibliography. We owe them, aswell as their institutions and publishers, a debt of gratitude.Business valuation is a complex exercise and no single volume or course can attempt to coverthe subject in its entirety. Fortunately for the keen learner, there is a great deal of literatureavailable on the (constantly expanding) subject. This is an introductory course on businessvaluation, and therefore, the student is well advised to look at this as a beginning of a longand exciting journey and not an end.Bon Voyage and Happy Learning!