Topics include: Best Practices for Valuing Illiquid Portfolio Assets, Fair Value Measurement, Valuation Methods, Valuing Fund Interests, Mezzanine Loans, GIPS Valuation Hierarchy, International Private Equity and Venture Capital Valuation Guidelines (December 2012), CFA Institute Global Investment Performance Standards (2010)
Mercer Capital | An Overview of ASC 820: Fair Value MeasurementMercer Capital
Topics include: "Fair Value Defined," "The Market Participant Perspective," "The Fair Value Hierarchy," "Markets That Are Not Active & Transactions That Are Not Orderly," "Practical Expedient for Investments in Funds That Report NAV," and "Disclosure Requirements"
Mercer Capital's Value Focus: FinTech Industry | Second Quarter 2015Mercer Capital
Mercer Capital’s quarterly newsletter, FinTech Watch, provides an overview of the FinTech industry, including public market performance, valuation multiples for public FinTech companies, and articles of interest from around the web. This newsletter focuses on FinTech segments, including payment processors, technology, and solutions companies, examining general economic and industry trends as well as a summary of M&A and venture capital activity.
Mercer Capital | A Layperson's Guide to the Option Pricing ModelMercer Capital
Mercer Capital's whitepaper on the option pricing model, often used to value ownership interests in early-stage companies. Developed in response to the need to reliably estimate the value of different economic rights in complex capital structures, the OPM models the various capital structure components as a series of call options on underlying total equity value. Through a detailed example, Travis W. Harms explains key concepts including breakpoints and tranches in a straightforward and non-technical way, taking the mystery out of OPM terms such as “breakpoint” and “tranche”. Relative to the probability-weighted expected return method, the principal strengths of the OPM include the small number of required assumptions and auditability. The PWERM, in contrast, offers greater flexibility and transparency. Harms closes with some thought on reconciling OPM results with the market participant perspective.
Project Report on Trend Analysis of Mutual FundRinshi Singh
Financial sectors, Growth Drivers of financial sector, Porter's model of financial sector, 5nance.com company details, company usp,KYC Verification process, Mutual funds performance
Understand the Value of Your InsurTech CompanyMercer Capital
Valuing an InsurTech company can be complicated and difficult, but carries important significance for employees, investors, and stakeholders for the company. While all InsurTech companies have differences, including what niche (distribution, claims, benefits, etc.) they operate in or what stage of development the company is in, understanding the value of the business is critically important.
Mercer Capital | An Overview of ASC 820: Fair Value MeasurementMercer Capital
Topics include: "Fair Value Defined," "The Market Participant Perspective," "The Fair Value Hierarchy," "Markets That Are Not Active & Transactions That Are Not Orderly," "Practical Expedient for Investments in Funds That Report NAV," and "Disclosure Requirements"
Mercer Capital's Value Focus: FinTech Industry | Second Quarter 2015Mercer Capital
Mercer Capital’s quarterly newsletter, FinTech Watch, provides an overview of the FinTech industry, including public market performance, valuation multiples for public FinTech companies, and articles of interest from around the web. This newsletter focuses on FinTech segments, including payment processors, technology, and solutions companies, examining general economic and industry trends as well as a summary of M&A and venture capital activity.
Mercer Capital | A Layperson's Guide to the Option Pricing ModelMercer Capital
Mercer Capital's whitepaper on the option pricing model, often used to value ownership interests in early-stage companies. Developed in response to the need to reliably estimate the value of different economic rights in complex capital structures, the OPM models the various capital structure components as a series of call options on underlying total equity value. Through a detailed example, Travis W. Harms explains key concepts including breakpoints and tranches in a straightforward and non-technical way, taking the mystery out of OPM terms such as “breakpoint” and “tranche”. Relative to the probability-weighted expected return method, the principal strengths of the OPM include the small number of required assumptions and auditability. The PWERM, in contrast, offers greater flexibility and transparency. Harms closes with some thought on reconciling OPM results with the market participant perspective.
Project Report on Trend Analysis of Mutual FundRinshi Singh
Financial sectors, Growth Drivers of financial sector, Porter's model of financial sector, 5nance.com company details, company usp,KYC Verification process, Mutual funds performance
Understand the Value of Your InsurTech CompanyMercer Capital
Valuing an InsurTech company can be complicated and difficult, but carries important significance for employees, investors, and stakeholders for the company. While all InsurTech companies have differences, including what niche (distribution, claims, benefits, etc.) they operate in or what stage of development the company is in, understanding the value of the business is critically important.
This presentation "FEMA Valuation Aspects(FDI & ODI) and Registered Valuation" has been delivered by Mr. Chander Sawhney at East of Kailash Study Circle of ICSI on 22/11/2014.
Business valuation fundamentals & the maximization of entity valueAzran Financial APC
In the complex world of business valuation, understanding the valuations process can be of key importance to receiving the highest and best value for your company.
Through a basic understanding of the principles of business valuation (both public and private, closely held) one can learn to navigate the process that touches everything from transactions to taxation.
Macro Issues in Valuation for M&A - Mr. Chander Sawhney of Corporate Professionals at ASSOCHAM National Conference on "Value Creation through Mergers & Acquisitions ” – 30th April,2013
Topics:
Valuation;
Mergers & Acquisition;
Macro Issues in Valuation for Mergers & Acquisition;
M&A Case Study
Mr. Chander Sawhney, Partner & Head – Valuation & Deals, Corporate Professionals shared his thoughts as a guest Speaker on Valuation Principles & Techniques in Ind AS at a seminar organised by Gurgaon Branch of ICAI on 3rd September, 2016.
IndAS113 prescribes Fair Valuation definition, Techniques, Application and its Hierarchy. About 75% of the Balance Sheet Size is expected to change due to Fair Value Accounting (#IndAS109 #Financial Instruments, #IndAS102 #Share based payments, #IndAS16 Property Plant Equipments (PPE), #IndAS103 #Business combination etc. shall be impacted using #FairValue. Time to get ready, Plan Prepare and Align with the new requirements...
About Corporate Professionals Valuation Practice
Corporate Professionals Capital Pvt. Ltd. is a SEBI Registered (Cat-1) Merchant Banker and has a successful track record of providing a broad range of M&A and Transaction Advisory Services. Our Dedicated Team has more than 10 years of rich Valuation experience and we have executed more than 500 Corporate Valuations for clients of International Repute across different Context, Industries and Boundaries.
To know more about Our Valuation offerings and how we can help you, please visit us at www.corporatevaluations.in or download our Valuation profile @ http://www.corporatevaluations.in/VALUATION_PROFILE.pdf
COMPANY ANALYSIS-HINDUSTAN UNILEVER LTDSaiLakshmi115
Introduction to company analysis# About the company in short # vision # mission # Standard of conduct # culture and value # business model of HUL # swot analysis of HUL # management and its structure # corporate culture and governance # Quantitative analysis of the company- HUL: Earnings, Leverages, competitive edge, production efficiency, financial analysis, cash flow, Ratio analysis # conclusion
Mercer Capital's Portfolio Valuation: Private Equity and Venture Capital Mark...Mercer Capital
Mercer Capital's Portfolio Valuation: Private Equity and Venture Capital Marks and Trends Newsletter provides a brief digest and commentary of some of the most relevant market trends influencing the fair value regarding private equity portfolio investments.
A Presentation given by Mr. Pavan Kumar Vijay, Past President, ICSI, Chairman-Secretarial Standards Board
on Corporate Governance through the eyes of Secretarial Standards.
Mercer Capital's Portfolio Valuation: Private Equity and Venture Capital Mark...Mercer Capital
Mercer Capital's Portfolio Valuation: Private Equity and Venture Capital Marks and Trends Newsletter provides a brief digest and commentary of some of the most relevant market trends influencing the fair value regarding private equity portfolio investments.
Mercer Capital's Portfolio Valuation: Private Equity Marks and Trends | Q1 2015Mercer Capital
Mercer Capital's Portfolio Valuation: Private Equity Marks and Trends Newsletter provides a brief digest and commentary of some of the most relevant market trends influencing the fair value regarding private equity portfolio investments.
Mercer Capital's Investment Management Industry Newsletter | Q1 2021 | Focus:...Mercer Capital
Mercer Capital’s Investment Management Industry newsletter is a quarterly publication providing perspective on valuation issues pertinent to asset managers, trust companies, and investment consultants.
Introduction to Business Valuation, Fair Market Value, reasons and elements of business valuation, methodologies of business valuation, case study on net asset value.
This presentation "FEMA Valuation Aspects(FDI & ODI) and Registered Valuation" has been delivered by Mr. Chander Sawhney at East of Kailash Study Circle of ICSI on 22/11/2014.
Business valuation fundamentals & the maximization of entity valueAzran Financial APC
In the complex world of business valuation, understanding the valuations process can be of key importance to receiving the highest and best value for your company.
Through a basic understanding of the principles of business valuation (both public and private, closely held) one can learn to navigate the process that touches everything from transactions to taxation.
Macro Issues in Valuation for M&A - Mr. Chander Sawhney of Corporate Professionals at ASSOCHAM National Conference on "Value Creation through Mergers & Acquisitions ” – 30th April,2013
Topics:
Valuation;
Mergers & Acquisition;
Macro Issues in Valuation for Mergers & Acquisition;
M&A Case Study
Mr. Chander Sawhney, Partner & Head – Valuation & Deals, Corporate Professionals shared his thoughts as a guest Speaker on Valuation Principles & Techniques in Ind AS at a seminar organised by Gurgaon Branch of ICAI on 3rd September, 2016.
IndAS113 prescribes Fair Valuation definition, Techniques, Application and its Hierarchy. About 75% of the Balance Sheet Size is expected to change due to Fair Value Accounting (#IndAS109 #Financial Instruments, #IndAS102 #Share based payments, #IndAS16 Property Plant Equipments (PPE), #IndAS103 #Business combination etc. shall be impacted using #FairValue. Time to get ready, Plan Prepare and Align with the new requirements...
About Corporate Professionals Valuation Practice
Corporate Professionals Capital Pvt. Ltd. is a SEBI Registered (Cat-1) Merchant Banker and has a successful track record of providing a broad range of M&A and Transaction Advisory Services. Our Dedicated Team has more than 10 years of rich Valuation experience and we have executed more than 500 Corporate Valuations for clients of International Repute across different Context, Industries and Boundaries.
To know more about Our Valuation offerings and how we can help you, please visit us at www.corporatevaluations.in or download our Valuation profile @ http://www.corporatevaluations.in/VALUATION_PROFILE.pdf
COMPANY ANALYSIS-HINDUSTAN UNILEVER LTDSaiLakshmi115
Introduction to company analysis# About the company in short # vision # mission # Standard of conduct # culture and value # business model of HUL # swot analysis of HUL # management and its structure # corporate culture and governance # Quantitative analysis of the company- HUL: Earnings, Leverages, competitive edge, production efficiency, financial analysis, cash flow, Ratio analysis # conclusion
Mercer Capital's Portfolio Valuation: Private Equity and Venture Capital Mark...Mercer Capital
Mercer Capital's Portfolio Valuation: Private Equity and Venture Capital Marks and Trends Newsletter provides a brief digest and commentary of some of the most relevant market trends influencing the fair value regarding private equity portfolio investments.
A Presentation given by Mr. Pavan Kumar Vijay, Past President, ICSI, Chairman-Secretarial Standards Board
on Corporate Governance through the eyes of Secretarial Standards.
Mercer Capital's Portfolio Valuation: Private Equity and Venture Capital Mark...Mercer Capital
Mercer Capital's Portfolio Valuation: Private Equity and Venture Capital Marks and Trends Newsletter provides a brief digest and commentary of some of the most relevant market trends influencing the fair value regarding private equity portfolio investments.
Mercer Capital's Portfolio Valuation: Private Equity Marks and Trends | Q1 2015Mercer Capital
Mercer Capital's Portfolio Valuation: Private Equity Marks and Trends Newsletter provides a brief digest and commentary of some of the most relevant market trends influencing the fair value regarding private equity portfolio investments.
Mercer Capital's Investment Management Industry Newsletter | Q1 2021 | Focus:...Mercer Capital
Mercer Capital’s Investment Management Industry newsletter is a quarterly publication providing perspective on valuation issues pertinent to asset managers, trust companies, and investment consultants.
Introduction to Business Valuation, Fair Market Value, reasons and elements of business valuation, methodologies of business valuation, case study on net asset value.
How do we determine value and what prevalent quantificational routines are in place (Fair Value) ? The attached document provides an introduction to a complicated subject area.
BlueBookAcademy.com - Introduction to Business Valuationbluebookacademy
Lets run through the three popular approaches to valuing companies, both private and public. We introduce asset-based, relative and cash flow based valuation methods using case study examples. We discuss the concept of price, value and worth and identify the value drivers financial analysts use to determine value.
Upfront LP Survey of the Venture Capital & Startup IndustryMark Suster
Upfront Ventures surveyed Limited Partners (LPs) on their outlook on the venture capital markets and the underlying technology startups we back. This presentation created in Q1 2017 shares this outlook.
Valuation of Private vs. Public Companies. Private company valuations are discounted based on several risk factors associated with private sector investing, which results in a marked difference between the valuation of a privately held company, subsidiary or a division and a publicly traded corporation.
Complete guide to Building an Acquistion Strategy and Valuation MethodologiesSTRATICX
DESCRIPTION
For a business any business looking to engage in acquisition activity it is critical to understand what your strategy is. Acquisition and investment is more than a financial exercise, there has to be a strategy intent as well.
This document is in three main sections to help formulating an acquisition strategy:
1. Identifying the Acquisition Target and Process
2. Diligencing the Target
3. Evaluating Other Strategic Considerations
Followed by a overview of valuation methodologies commonly used to value targets:
1. Public Market Comparables
2. Merger Market Comparables
3. DCF
4. Pro Forma
This powerpoint is designed to give a good foundations and building blocks for those interesting in learning more about the above techniques.
Financial Metrics to Drive Strategic Portfolio Performance Sopheon
While all companies forecast the financial impact of their new product development investments, not all realize that the specific metrics that are used to rank and select projects heavily influence the performance of portfolios, possibly towards an unintended outcome.
This webinar explores typical project and portfolio valuation metrics with respect to what these metrics specifically indicate, and the decision-making behaviors they drive.
Given that the most successful portfolios are guided by a focused innovation strategy, which metrics should your organization be using to measure and maximize investment performance?
During this session you will learn:
How to choose the right financial metrics to drive your innovation strategy
Understand the unintended consequences of picking the wrong financial metrics
How financial metrics drive different decision-making behavior.
View the webinar in its entirety at: http://budurl.com/ld4g
Before going to market to sell your business, you or your executive team may want to obtain an independent appraisal. Likewise, prospective buyers may wish to obtain expert services to value an acquisition target or discrete portions of a target. This webinar provides a look into how valuation experts place a value on a going concern.
Part of the webinar series: Valuation 2021
Overview of Corporate Finance in India a presentationfootydigarse
Slide 1: Introduction
Welcome to the presentation on Corporate Finance in India.
Overview of the financial landscape and key aspects of corporate finance.
Slide 2: Importance of Corporate Finance
Explanation of why corporate finance is vital for businesses.
Role in maximizing shareholder value, strategic decision-making, and capital allocation.
Slide 3: Financial Markets in India
Overview of India's financial markets: stock exchanges, bond markets, money markets.
Regulatory bodies such as SEBI (Securities and Exchange Board of India).
Slide 4: Sources of Corporate Finance
Equity financing: IPOs, rights issues, private placements.
Debt financing: bank loans, corporate bonds, debentures.
Hybrid instruments: convertible bonds, preference shares.
Slide 5: Capital Structure Decisions
Explanation of capital structure and its importance.
Factors influencing capital structure decisions.
Trade-off between debt and equity financing.
Slide 6: Valuation Methods
Common valuation methods in India: Discounted Cash Flow (DCF), Comparable Company Analysis (CCA), Precedent Transactions Analysis.
Importance of accurate valuation for investment decisions.
Slide 7: Corporate Governance
Overview of corporate governance principles in India.
Role of the board of directors, transparency, and accountability.
Slide 8: Risk Management
Types of financial risks faced by Indian corporations: market risk, credit risk, operational risk.
Risk management strategies: hedging, diversification, insurance.
Slide 9: Mergers and Acquisitions (M&A)
Trends in M&A activity in India.
Motivations behind M&A transactions.
Regulatory framework and approval process.
Slide 10: Case Studies
Analysis of notable corporate finance transactions in India.
Learnings from successful and unsuccessful deals.
Slide 11: Future Outlook
Emerging trends and opportunities in Indian corporate finance.
Potential challenges and how to address them.
Slide 12: Conclusion
Recap of key points covered in the presentation.
Importance of effective corporate finance management for sustainable growth.
Slide 13: Questions and Discussion
Open the floor for questions and discussion.
This course will take you through the process of a typical business valuation engagement, from scoping the work to ultimately arriving at a conclusion of value. Through a case study, we will address fundamental issues including valuation approaches (asset, income and market), normalizing analysis and valuation discounts.
Mercer Capital's Bank Watch | September 2023 | The Interest Rate Environment ...Mercer Capital
Brought to you by the Financial Institutions Team of Mercer Capital, this monthly newsletter is focused on bank activity in five U.S. regions. Bank Watch highlights various banking metrics, including public market indicators, M&A market indicators, and key indices of the top financial institutions, providing insight into financial institution valuation issues.
Mercer Capital's Investment Management Industry Newsletter | Q2 2023 | Focus:...Mercer Capital
Mercer Capital’s Investment Management Industry newsletter is a quarterly publication providing perspective on valuation issues pertinent to asset managers, trust companies, and investment consultants.
Mercer Capital's Bank Watch | July 2023 | Bank Impairment TestingMercer Capital
Brought to you by the Financial Institutions Team of Mercer Capital, this monthly newsletter is focused on bank activity in five U.S. regions. Bank Watch highlights various banking metrics, including public market indicators, M&A market indicators, and key indices of the top financial institutions, providing insight into financial institution valuation issues.
Mercer Capital's Value Focus: Transportation & Logistics | Q1 2023 |Mercer Capital
Mercer Capital's Transportation & LogisticsIndustry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, mergers and acquisitions review, and guideline public company metrics.
Mercer Capital's Value Matters™ | Issue No. 1, 2023 Mercer Capital
Mercer Capital's Value Matters™, addresses gift & estate tax, ESOP, buy-sell agreement, and transaction advisory topics of interest to estate planners and other professional advisors to business.
Mercer Capital - Corporate Finance in 30 Minutes Whitepaper.pdfMercer Capital
Corporate finance does not need to be a mystery. In this whitepaper, we distill the
fundamental principles of corporate finance into an accessible and non-technical
primer. Structured around the three key decisions of capital structure, capital
budgeting, and distribution policy, the guide is designed to assist family business directors and shareholders without a finance background make relevant and
meaningful contributions to the most consequential financial decisions all companies must make. Our goal with this whitepaper is to give family business directors
and shareholders a vocabulary and conceptual framework for thinking about strategic corporate finance decisions, allowing them to bring their perspectives and
expertise to the discussion.
Mercer Capital's Bank Watch | March 2023 | “I’m Not Broke. I’m Just Not Liquid.”Mercer Capital
Brought to you by the Financial Institutions Team of Mercer Capital, this monthly newsletter is focused on bank activity in five U.S. regions. Bank Watch highlights various banking metrics, including public market indicators, M&A market indicators, and key indices of the top financial institutions, providing insight into financial institution valuation issues.
Mercer Capital's Bank Watch | February 2023 | Themes from Bank Director’s 202...Mercer Capital
Brought to you by the Financial Institutions Team of Mercer Capital, this monthly newsletter is focused on bank activity in five U.S. regions. Bank Watch highlights various banking metrics, including public market indicators, M&A market indicators, and key indices of the top financial institutions, providing insight into financial institution valuation issues.
Mercer Capital's Investment Management Industry Newsletter | Q4 2023 | Focus:...Mercer Capital
Mercer Capital’s Investment Management Industry newsletter is a quarterly publication providing perspective on valuation issues pertinent to asset managers, trust companies, and investment consultants.
Mercer Capital's Value Focus: Exploration and Production | Fourth Quarter 202...Mercer Capital
Mercer Capital's Energy Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes a macroeconomic trends, industry trends, and guideline public company metrics.
Mercer Capital's Bank Watch | December 2022 | Bank M&A 2022 - TurbulenceMercer Capital
Brought to you by the Financial Institutions Team of Mercer Capital, this monthly newsletter is focused on bank activity in five U.S. regions. Bank Watch highlights various banking metrics, including public market indicators, M&A market indicators, and key indices of the top financial institutions, providing insight into financial institution valuation issues.
Mercer Capital's Value Matters™ | Issue No. 3, 2022|Mercer Capital
Mercer Capital's Value Matters™, published 6 times per year, addresses gift & estate tax, ESOP, buy-sell agreement, and transaction advisory topics of interest to estate planners and other professional advisors to business.
Mercer Capital's Value Focus: Transportation & Logistics | Q3 2022 Mercer Capital
Mercer Capital's Transportation & LogisticsIndustry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, mergers and acquisitions review, and guideline public company metrics.
Mercer Capital's Bank Watch | November 2022 | Community Bank Loan Portfolios ...Mercer Capital
Brought to you by the Financial Institutions Team of Mercer Capital, this monthly newsletter is focused on bank activity in five U.S. regions. Bank Watch highlights various banking metrics, including public market indicators, M&A market indicators, and key indices of the top financial institutions, providing insight into financial institution valuation issues.
Mercer Capital's Investment Management Industry Newsletter | Q3 2022 | Focus:...Mercer Capital
Mercer Capital’s Investment Management Industry newsletter is a quarterly publication providing perspective on valuation issues pertinent to asset managers, trust companies, and investment consultants.
Mercer Capital's Investment Management Industry Newsletter | Q2 2022 | Segmen...Mercer Capital
Mercer Capital’s Investment Management Industry newsletter is a quarterly publication providing perspective on valuation issues pertinent to asset managers, trust companies, and investment consultants.
Mercer Capital's Bank Watch | October 2022 | How Are Tech-Forward Banks Perfo...Mercer Capital
Brought to you by the Financial Institutions Team of Mercer Capital, this monthly newsletter is focused on bank activity in five U.S. regions. Bank Watch highlights various banking metrics, including public market indicators, M&A market indicators, and key indices of the top financial institutions, providing insight into financial institution valuation issues.
Mercer Capital's Value Focus: Transportation & Logistics | Q2 2022 | Feature...Mercer Capital
Mercer Capital's Transportation & LogisticsIndustry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, mergers and acquisitions review, and guideline public company metrics.
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
4. 4
Determining the
Unit of Account
Multiple Tranches
• Unit of Account determined on same basis that
Market Participants would transact (single
instrument or bundle)
Debt Only
• Unit of Account likely individual debt instrument;
fair value based on yield analysis
Debt and Equity
• Depends on transaction structure of market
participants. In general, private equity investors
often invest in concert with one another and
realize value only when entire business is sold.
Unit of account should be assessed accordingly
5. 5
Fair Value
Measurement:
Conceptual
Considerations
To measure fair value of unquoted investments,
assume the underlying business is realized or
sold at the measurement date, appropriately
allocated to various interests, regardless of
readiness for sale or intent to sell
• If multiple investment tranches owned by fund
would be transacted simultaneously, they should
be valued in aggregate
• Assume that necessary marketing activities
have been completed to allow for hypothetical
exchange on measurement date
6. 6
Fair Value
Measurement:
Apportioning
Attributable
Enterprise Value
to Financial
Instruments
Incorporate effect of ratchets or other
contractual rights in fair value measurement
• Assume that in-the-money options and warrants
are exercised (adjusting for both share count
and exercise proceeds)
• Significant option and warrant positions may need
to be valued separately using an appropriate
option pricing model
• When debt must be repaid upon sale of the
underlying business, assume FV equal to
amount to be repaid
• If debt would not be repaid, fair value of debt,
amount deducted from enterprise value may differ
from par value
7. 7
Valuation
Methods:
Selection
Factors to consider:
• Nature of industry and current market conditions
• Quality and reliability of data used
• Comparability of enterprise or transaction data
• Development stage of enterprise
• Profitability and cash flow attributes of enterprise
• Unique facts and circumstances
• Results of calibration analysis
• Maximize use of techniques that draw heavily
on observable market-based measures of risk
and return
• DCF and industry benchmarks should rarely be
used in isolation from market-based measures
8. 8
Valuation
Methods:
Price of Recent
Investment
Generally most appropriate for early stage
companies subject to frequent funding rounds
• Quality of valuation indication will erode over
time
• Evaluate whether price represented fair value at
the time
• Difference in economic and governance rights
• Disproportionate dilution of existing investors
• Strategic motivations of new investor
• Forced sale or ‘rescue package’
9. 9
Valuation
Methods:
Multiples
Most applicable for investments in
established businesses with identifiable
stream of maintainable earnings
Steps in applying technique:
1. Apply appropriate and reasonable multiple to
maintainable earnings to derive Enterprise Value
2. Adjust Enterprise Value for surplus or non-operating
items, contingencies, and other relevant factors to
derive Adjusted Enterprise Value
3. Deduct value attributable to senior financial
instruments, taking into account potentially dilutive
features to derive Attributable Enterprise Value
4. Apportion Attributable Enterprise Value to relevant
instruments using market participant perspective
10. 10
Valuation
Methods:
Multiples
Multiples of total invested capital generally
most appropriate because of role of financial
structuring in private equity
• Multiples at acquisition should be calibrated to
relevant set of comparable companies
• Presumption is that multiples based on public
company stock prices are indicative of the
value of the company as a whole
• Multiples may be expressed in terms of
‘current’, ‘forecast’, or ‘historical’ earnings,
and should be matched to character of
maintainable earnings
11. 11
Valuation
Methods:
Net Assets
Likely appropriate for business whose value
derives mainly from underlying fair value of
assets rather than earnings
Potentially appropriate for unprofitable or
marginally profitable businesses
Steps in applying technique:
1. Derive Enterprise Value by measuring value of
assets and liabilities
2. Deduct value attributable to senior financial
instruments, taking into account potentially dilutive
features to derive Attributable Enterprise Value
3. Apportion Attributable Enterprise Value to relevant
instruments using market participant perspective
12. 12
Valuation
Methods:
Discounted
Cash Flows
(Enterprise)
Flexible, but risky, valuation technique
• Required inputs (detailed cash flow
forecasts, terminal value, discount rate)
require substantial subjective judgment
• Indicated value often sensitive to small
changes in inputs
• Generally perceived to be more useful as a
cross-check of values estimated under
market-based techniques
13. 13
Valuation
Methods:
Discounted
Cash Flows
(Investment)
Most appropriate when:
• Exit is imminent
• Exit pricing has been substantially agreed
• Particularly suitable for valuation debt and
mezzanine investments for which value derives
mainly from instrument-specific cash flows and
risks rather than from the value of the enterprise
as a whole
• For non-equity instruments, pre-defined terminal
values enhance the reliability of the technique
• Implied discount rate at initial investment should
be adjusted over time for changes in market
conditions
14. 14
Valuation
Methods:
Industry
Valuation
Benchmarks
Industry-specific benchmarks often based on
assumption that investors are willing to pay for
revenue and that normal profitability within the
industry does not vary much
• Reliable technique only in limited situations
• Most likely to be useful as a sanity check against
other valuation indications
15. 15
Valuing Fund
Interests
May use attributable portion of NAV if:
• Reported NAV is appropriately derived using
proper fair value principles as part of a robust
process
• Fair value of underlying investments measured
as of the same date as the fund interest
valuation
• Interests in the Fund are not actively traded
• Management has not decided to sell the fund
interest for an amount other than applicable
portion of net asset value
Adjustments may be appropriate for:
• Timing differences
• Potential performance or other fees payable
• Other factors
16. 16
Valuing Fund
Interests:
Secondary
Transactions
Data from secondary transactions must be
considered if:
• Relevant terms of the transaction are known
• The transaction is considered orderly
• Prices in secondary transactions may be
influenced by factors beyond fair value and
based on assumptions and return expectations
unique to the counterparties
• If secondary transaction prices are available, but
secondary market not deemed active, prices
should be augmented with other inputs, such as
NAV
17. 17
Application:
Other
Considerations
Terms of internal funding rounds not
necessarily indicative of fair value
• When debt is trading at a discount to par,
deduct par value from Enterprise Value
unless the subject company has acquired
the debt in the market and intends to cancel
rather than repay
• Bridge financing should be included as part
of the overall investment being valued, if
consistent with market participant
perspective
• When valuing PIK instruments, assess
expected present value of amount to be
recovered
18. 18
Application:
Other
Considerations
Impact of ratchets and other liquidation
preferences should be assessed relative to the
likelihood that the investor would receive
benefit of full contractual right (in practice, full
benefits may not be realized)
• Mathematical option pricing models are
rarely used by market participants, and have
not seen wide usage in the private equity
marketplace
• Indicative offers may provide useful
additional support, but are generally
insufficiently robust to be used in isolation
19. 19
Application:
Mezzanine
Loans
Price at which mezzanine loan was issued
generally reliable indicator of fair value at
that date
• Should assess whether indications exist
that loan will not be fully recovered
• Should assess whether changed in
required yield are indicated
• Attached warrants should be evaluated
separately from the mezzanine loan
21. 21
Global Investment Performance Standards (2010): Private Equity Provisions
Recommended Provisions Required Provisions
Frequency of Valuation PE investments must be valued at least quarterly PE investments must be valued annually
Basis of Valuation The fair value basis is required The fair value basis is required
Valuation Methodologies
Material differences between valuation used in performance reporting and financial
reporting should be explained and disclosed
Disclose valuation methodologies used in most recent period
Selected Methodologies &
Assumptions
Key assumptions used to value portfolio investments should be disclosed
The selected valuation methodology must be the most appropriate for a
particular investment based on its nature, facts, and circumstances
Valuation Considerations
The following factors should be considered:
1. Quality and reliability of data used in each methodology
2. Comparability of enterprise or transaction data
3. Stage of development of the enterprise
4. Additional considerations unique to the enterprise
Changes in Valuation
Method
Disclose material changes to valuation policies and/or methodologies Disclose material changes to valuation policies and/or methodologies
Industry Valuation
Guidelines
Disclose which, if any, industry valuation guidelines adhered to, in addition
to GIPS
Disclose which, if any, industry valuation guidelines adhered to, in addition
to GIPS
Investment Performance
Multiples
Disclose multiples of committed and cumulative paid-in capital:
1. Investment Multiple: Total Value to Paid-In Capital
2. Realization Multiple: Distributions to Paid-In Capital
3. Paid-In Capital Multiple: Paid-In Capital to Committed Capital
4. Unrealized Capital Multiple: Residual Value to Paid-In Capital
Disclose multiples of committed and cumulative paid-in capital:
1. Investment Multiple: Total Value to Paid-In Capital
2. Realization Multiple: Distributions to Paid-In Capital
3. Paid-In Capital Multiple: Paid-In Capital to Committed Capital
4. Unrealized Capital Multiple: Residual Value to Paid-In Capital
Use of Valuation Hierarchy The valuation hierarchy (see next slide) should be used
Disclose if the valuation hierarchy differs materially from the recommended
hierarchy
Valuation Inputs Disclose the use of subjective unobservable inputs in valuing investments Disclose the use of subjective unobservable inputs in valuing investments
Independent Valuation
Review
Valuations should be obtained from a qualified independent third party Not required
22. 22
GIPS
Valuation
Hierarchy
(Inputs)
1. Objective, observable, unadjusted quoted market
prices for identical investments in active markets
on the measurement date
2. Objective, observable quoted market prices for
similar investments in active markets
3. Quoted prices for identical or similar investments
in markets that are not active
4. Market-based inputs, other than quoted prices,
that are observable for the investment
5. Subjective unobservable inputs for the investment
where markets are not active at the measurement
date. Use these inputs only to the extent
observable inputs and prices are not available or
appropriate. Unobservable inputs reflect
assumptions about the assumptions market
participants would use in valuing an investment
24. 24
Best Practices for
Valuing Illiquid
Portfolio Assets
Recognize that valuation matters, and it
will really matter when something has
gone awry
• Document valuation procedures to follow
(and follow them)
• Designate a member of senior
management to be responsible for
oversight of the valuation process
• Create contemporaneous and consistent
documentation of valuation conclusions
and rationale
25. 25
Best Practices for
Valuing Illiquid
Portfolio Assets
Stay abreast of evolving best practices
(or know people who do)
• Solicit relevant input from the
professionals responsible for the
investment, auditors, and third-party
experts
• Check your math
• Disclose the process and conclusions -
potential investors take comfort in
transparency
26. 26
Contact
Information
Travis W. Harms, CFA, CPA/ABV
901-322-9760
harmst@mercercapital.com
Jeff K. Davis, CFA
615-345-0350
jeffdavis@mercercapital.com
MERCER CAPITAL
Clark Tower
5100 Poplar Avenue, Suite 2600
Memphis, Tennessee 38137
www.mercercapital.com
28. 28
About
Mercer Capital
• Business valuation and financial advisory firm
founded in 1982
• Core competency is the valuation of private equity
and debt securities
• Valuation and positive assurance opinions
• Fairness and solvency opinions
• Transaction advisory
• Litigation support
• 400 assignments annually, primarily for domestic
entities
• 40 employees (employee-owned)
• Valuation and industry thought leaders
29. 29
Overview
of Services
Valuation
• Tax compliance
• Corporate valuation services
• Employee Stock Ownership Plan valuation
Transaction Advisory Services
• Fairness and solvency opinions
• M&A and investment banking services
• Buy-sell agreements and private company transactions
Financial Reporting
• Private equity, mutual fund, BDC, and other investment
company portfolio valuation services
• Purchase price allocation
• Impairment testing services
Litigation Support
• Expert testimony
• Business damages
• Shareholder disputes / divorce
30. 30
Financial
Reporting
Valuation
Services
Mercer Capital provides a comprehensive suite of valuation services to
assist boards of directors, portfolio managers, financial managers and
others with financial reporting requirements.
In an environment of increasingly complex fair value reporting standards
and burgeoning regulatory scrutiny, Mercer Capital helps clients resolve
fair value reporting issues successfully.
Mercer Capital fair value opinions are consistently accepted by the Big
Four audit firms and other reviewing entities.
Our professionals hold the Accredited in Business Valuation (ABV)
designation from the AICPA, the Accredited Senior Appraiser (ASA)
designation from the American Society of Appraisers and the Charter
Financial Analyst (CFA) designation from the CFA Institute.
Valuation Services for Investment Funds
• Portfolio Investment Valuation
• Fairness and Solvency Opinions
• Litigation Support
Valuation Services for Portfolio Companies
• Purchase Price Allocation
• Goodwill Impairment Testing
• 409A / Equity Compensation Valuation
31. 31
Key Industry
Verticals
Financials
• Depositories
• Asset managers
• BDCs
• Insurance
• Brokers and investment banks
Manufacturing
• Durable and non-durable goods
• Consumer and industrial
Healthcare
• Facilities companies
• Medical devices
• Staffing companies
Distribution and Transportation
• Wholesale distribution
• Asset-based transportation companies (all modes)
• Third-party logistics providers
32. 32
Senior
Professionals
Jeff K. Davis, CFA
• Managing Director
• 10 years with Mercer Capital
• Spent 13 years as a sell-side analyst covering small-
and mid-cap banks and specialty finance
• Weekly editorial contributor to SNL Financial
Travis Harms, CFA, CPA/ABV
• Senior Vice President
• 15 years with Mercer Capital
• Extensive financial valuation reporting experience,
including on behalf of private equity, BDCs and broker-
dealers
33. 33
Senior
Professionals
Z. Christopher Mercer, ASA, CFA, ABAR
• CEO / Founder (1982)
• Prolific author and thought leader on private security
valuation
• Has prepared and overseen over a thousand
valuations for M&A, tax, litigation and other matters
Matt Crow, ASA, CFA
• President
• 19 years with Mercer Capital
• Senior member of Mercer’s financial reporting
valuation group
34. 34
Senior
Professionals
Timothy R. Lee, ASA
• Managing Director
• 19 years with Mercer Capital
• Heads corporate valuation group with industry focus in
beverage, distribution, construction, retail and
transportation
Andy Gibbs, CFA, CPA/ABV
• Senior Vice President
• 14 years with Mercer Capital
• Has completed hundreds of bank and loan portfolio
valuations as head of the depository group for M&A,
ESOP, and other purposes