In this presentation with Robert Reilly and Weston Kirk they describe —and illustrate —the practical procedures related to the generally accepted asset-based approach to business valuation. First, explore the client situations in which the analyst should consider applying the asset-based approach. Second, review the generally accepted business valuation methods within the asset-based approach, including the asset accumulation method (AA method) and the adjusted net asset value method (ANAV method). Third, review the procedures for valuing working capital accounts, real estate and tangible personal property, identifiable intangible assets, and goodwill—and long-term liabilities and contingent liabilities—based on both (1) a value in use premise of value and (2) a value in exchange premise of value. Fourth, this presentation includes illustrative examples of the application of both the AA method and the ANAV method.