The document discusses how to calculate book value per share (BVPS) for a company. It explains that BVPS is calculated by taking the total stockholders' equity and dividing it by the number of shares outstanding. It provides formulas and procedures for calculating BVPS, including how to account for treasury shares, preference shares, participating vs. non-participating shares, cumulative vs. non-cumulative dividends, and how to handle deficits. Examples are provided to demonstrate calculating BVPS for different classes of shares.