Accounting and valuation guide : valuation of portfolio company investments of venture capital and private equity funds and other investment companies.

Contributor(s): Association of International Certified Professional Accountants
Language: English Publisher: [Durham, North Carolina] Association of International Certified Professional Accountants, 2019Description: 1 online resourceContent type: text Media type: computer Carrier type: online resourceISBN: 9781119663188Subject(s): Assets (Accounting) -- Management -- Evaluation | Portfolio managementDDC classification: 657.72 LOC classification: HF5681.A8Online resources: Full text available at Wiley Online Library click here to view
Contents:
Overview of the private equity and venture capital industry and its investment strategies -- Fair Value and related concepts -- Market participant assumptions -- Determining the unit of account and the assumed transaction for measuring the fair value of investments -- Overview of valuation approaches -- Valuation of debt instruments -- Valuation of equity interests in simple capital structures -- Valuation of equity interests in complex capital structures -- Control and marketability -- Calibration -- Backtesting -- Factors to consider at or near a transaction date -- Special topics -- Frequently asked questions.
Summary: Developed for preparers of financial statements, independent auditors, and valuation specialists, this guide provides nonauthoritative guidance and illustrations regarding the accounting for and valuation of portfolio company investments held by investment companies within the scope of FASB ASC 946, Financial Services —Investment Companies, (including private equity funds, venture capital funds, hedge funds, and business development companies). It features16 case studies that can be used to reason through real situations faced by investment fund managers, valuation specialists and auditors, this guide addresses many accounting and valuation issues that have emerged over time to assist investment companies in addressing the challenges in estimating fair value of these investments, such as: Unit of account Transaction costs Calibration The impact of control and marketability Backtesting
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EBOOK EBOOK COLLEGE LIBRARY
COLLEGE LIBRARY
657.72 Ai18 2019 (Browse shelf) Available CL-50825
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Includes bibliographical references and index.

Overview of the private equity and venture capital industry and its investment strategies -- Fair Value and related concepts -- Market participant assumptions -- Determining the unit of account and the assumed transaction for measuring the fair value of investments -- Overview of valuation approaches -- Valuation of debt instruments -- Valuation of equity interests in simple capital structures -- Valuation of equity interests in complex capital structures -- Control and marketability -- Calibration -- Backtesting -- Factors to consider at or near a transaction date -- Special topics -- Frequently asked questions.

Developed for preparers of financial statements, independent auditors, and valuation specialists, this guide provides nonauthoritative guidance and illustrations regarding the accounting for and valuation of portfolio company investments held by investment companies within the scope of FASB ASC 946, Financial Services —Investment Companies, (including private equity funds, venture capital funds, hedge funds, and business development companies).

It features16 case studies that can be used to reason through real situations faced by investment fund managers, valuation specialists and auditors, this guide addresses many accounting and valuation issues that have emerged over time to assist investment companies in addressing the challenges in estimating fair value of these investments, such as:

Unit of account
Transaction costs
Calibration
The impact of control and marketability
Backtesting

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