Valuation is the central theme in finance. If you are a financial analyst, you have to regularly value IPOs, acquisition proposals, and divestment candidates. If you are a manager, you have to assess the impact of your decisions on firm value. If you are an investor, you have to compare market price with value to decide whether you should buy or hold or sell a security.

This book discusses the techniques of valuation and the considerations that you have to bear in mind in valuing different types of companies. It provides a bridge between the world of -academic finance' and the -what do we do today' world of appraisers, managers, investors, regulators, and lawyers who are involved in valuing real companies.

This book is aimed at two distinct audiences:

Finance practitioners, senior managers, and investors who are involved in valuation

MBA students and professional accountants who are pursuing specialized courses in corporate valuation, such as the ones offered by the Institute of Chartered Accountants of India and the Institute of Cost and Works Accountants of India