This document discusses calculation engagements for business valuations. It begins by covering the standards that apply to valuation work, including those from the AICPA, IBA, NACVA, ASA, and USPAP. It then defines the different engagement types, focusing on the key differences between calculation engagements and valuation engagements. Calculation engagements require the valuation analyst to perform calculations based on pre-agreed upon valuation approaches and methods between the analyst and client, whereas valuation engagements allow more flexibility for the analyst to apply different approaches as they see fit. The document aims to dispel common myths about calculation engagements and clarify the requirements and limitations of such engagements compared to full valuation reports.