ciation, China Securities Industry Association and accounting standards for business enterprises. Recently, China Foundation association requires managers to upload the business plan of private fund managers to the
asset management platform of the association when registering. The future investment project is one of the key contents of the business plan, including the valuation of equity of investment projects. As an important part of the process of private fund managers' equity investment, China Fund Industry Association iss
ued the guidance on the valuation of private investment funds' unlisted equity investment (Trial) on March 31, 2123, which provides guidance on the valuation of unlisted enterprises' equity investment. On February 4, 2123, the China Securities Association issued the guidelines for the valuation of equity of non listed companies. Compared with the first document, the valuation guidance document issued by the securities industry
association is rich in content with reference examples. This paper intends to make a corresponding analysis of the two documents, and combing out the relatively simple and easy to remember valuation content combined with the relevant content of the accounting standards for business enterprises. The first part of the valuation method of unlisted equity investment refers to the equity investment made by private equity funds to unlisted enterpri
ses, including the enterprises that have been listed in the national equitie
s exchange and quotations system of small and medium-sized enterprises (the new third board) but are not actively traded. The valuation of non listed compani
es' equity is based on the overall equity value of the evaluated enterprise, considering the shareholding ratio and liquidity discount and other factors. The basis of valuation first needs to calculate the assets and liabilities of the enterprise at fair value. The fund manager shall estimate the fair value of each individual investment
on the valuation date.