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1. What is a venture's present value? Does the past matter? What is meant by the statement, "If you are not using estimates, you are not doing a valuation?"
2. Define (a) required cash and (b) surplus cash. Why does it matter how we treat surplus cash for valuation purposes?
3. Describe the basic venture capital (VC) method for estimating a venture's value.
Q. Working capital cycle? In a manufacturing concern the working capital cycle is start with the purchase of the raw material and ends with the realization of the cash from the
Illustrations of substantive tests Agree a sample of wages payments to the existence of these individuals and personnel records. Agree a sample of cashbook payments to
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