22 / June 2012

Reminder on some valuation resource books available from BVR

Posted in: BVWire News Written by: David
Categories: fair value for financial reporting intellectual property

The first is The Professional's Guide to Fair Value: The Future of Financial Reporting by James Catty (a good BVR friend).  The price is $95, and Catty covers:

  • Sample financial statements from both U.S. and foreign companies
  • Recommended applicable techniques
  • Management checklists for those preparing and approving financial statements
  • Chapters on the market approach to fair value, the cost approach to fair value, valuing liabilities, and more!
  • The ins and outs of fair value financial disclosure

The second title is Venture Capital Valuation: Case Studies and Methodology by Lorenzo Carver.  The is book is also $95  Topics covered:

  •  Why what you don't know about valuation will cost you money
  • How VCs, angels, founders, and employees give up investment cash flow every day
  •  Facebook at $80 billion valuation versus Enron at $80 billion valuation
  • Deal terms, waterfalls, and the pre-money myth
  • Whether venture-backed companies should even consider a discounted cash flow (DCF) model
  • Separating enterprise value from the allocation of that value
  • Valuing total equity
  • Using Future Value (FV) and Present Value (PV) to value future cash flows today
  • Why applying the typical DCF model to a venture-backed company hardly ever works
  •  "Enterprise Value" + "Allocation Methods" = Value Destruction
  • Undervaluing companies and overvaluing employee options
  • Why you should D.O.W.T. (doubt) venture capital returns
  • 409A valuation professionals discussing topic 820 (FAS 157) with VC CFOs

The final provides good background understanding for IP valuation:

Intellectual Property Strategies for the 21st Century Corporation: A Shift in Strategic and Financial Management (Lanning Bryer, Scott Lebson, and Matthew Asbell, editors) is published by Wiley and is priced at $125.    This book helps executives, attorneys, accountants, managers, owners, and others understand the legal, technological, economic, and cultural changes that have affected IP ownership and management. It provides case studies, practical examples and advice from seasoned and enduring professionals who have adopted new and streamlined methods and practices whether as in-house or outside counsel, or service providers.

  • Provides a practical yet global approach to corporate IP management
  • Serves as a resource for in-house and outside counsel, executives, managers, accountants, consultants and others at mid-size and large corporations
  • Helps professionals navigate the numerous new challenges that have changed the ways in which intellectual property is obtained and managed
  • Details the latest trends in valuation, exploitation, and protection of intellectual property
  • Extensive coverage of the legal, financial, accounting and general business aspects of intellectual property
  • The combined expertise of lawyers, accountants, economists and other business professionals

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