Financial Analysis, SKN and distributed value

1. Price, Cost, Volume
2. knowledge
3. relationship
4. promises- legacy risk 
1. pay now in cash!
5. prospects
6. ESTA= FA+WC-L (subtract off the loans L to get the equity stake)
1. FA: Fixed Assets (Traditional Assets, PP&E)
2. WC: Working Capital (WC=Current Assets - Current Liabilities)
7. CUVI= value of our intangibles (in terms of current contribution)
1. Current Use Value of Intangibles
2. knowledge 
3. relationships
4. trademark and brands
5. goodwill
6. intellectual property
1. trade secrets
2. patents
7. But is there a knowledge myth? (we still need factories)
8. NVP not to be confused with NPV (net present value)
1. Net Value of Promises
2. companies can set aside assets to meet promises when they become due
1. ring-fencing
9. GOV
1. Growth and Opportunity Value
10. Four Slices of Equity (think of as 4 funds)
1. ESTA+CUVI+NVP+GOV=Market Cap
1. ESTA: Equity Stake in Traditional Assets (sometimes traditional assets funded by loans)
1. what are the traditional assets?
2. from industrial revolution: factory, plant, working capital (stock)
3. giving or granting of credit
2. understand in terms of strategy and management of the network 
3. Arrange below into 2X2 Matrix:
4. ESTA, NVP Conventional B/S
5. CUVI, GOV  Market Value Added (MVA)
6. Productive Capital, Speculative Capital, Market Cap
7. Traditionally, accountants don't distinguish between Productive and speculative capital
8. By and large intangibles, especially those which relate to the knowledge and relationships that a company holds, do not appear.
9. Prospects don't appear on a B/S
11. What expenses are part of our sustainable situation?
12. sustainable profit-
1. What is the difference between income and value?
13. What is the difference between book equity and market equity?
1. book equity-> produced by accountants
2. market equity -> Market Cap 
14. Understand the movements in these 4 slices of equity