Resources & Valuation References
MILES Valuation performs valuation and financial advisory engagements based on widely recognised accounting standards, financial research, and reliable market data sources.
The references below represent commonly used institutional resources that support valuation analysis, including discount rate estimation, market comparables research, credit risk analysis, and macroeconomic assessment.
These references are widely used by financial institutions, auditors, and valuation professionals globally.
What Accounting Standards Govern Financial Valuation?
Financial reporting valuations are performed with reference to internationally recognised accounting and valuation standards, including:
Hong Kong Financial Reporting Standards (HKFRS)
Hong Kong Institute of Certified Public Accountants
www.hkicpa.org.hkThese frameworks guide financial reporting valuations such as:
- Purchase Price Allocation (PPA)
- Goodwill Impairment Testing
- Financial Instruments Valuation
- Share-based Payment Valuation
What Market Data Sources Are Commonly Used in Valuation?
Reliable financial market data is essential when performing valuation analysis, particularly for comparable company research, trading multiples, and capital structure analysis.
Common institutional financial data platforms include:
- Bloomberg Terminal
- S&P Capital IQ
- Refinitiv Eikon
- Factset Database
These platforms provide market information such as:
- Equity prices and market capitalisation
- Financial statements and operating metrics
- Analyst consensus forecasts
- Comparable company trading multiples
- Credit indicators and capital structure data
What Is the Source of Risk-Free Rates Used in WACC?
Risk-free rates are a key input in estimating discount rates and the Weighted Average Cost of Capital (WACC). These rates are typically referenced from government bond yield curves issued by sovereign authorities.
Commonly referenced sources include:
These sources provide benchmark interest rate data used when estimating discount rates and cost of capital assumptions.
What Credit Risk Research Is Used in Financial Analysis?
Credit risk analysis may incorporate long-term statistical studies and industry research widely used in financial markets.
Common references include:
Bloomberg Default Risk Model (DRSK)
Bloomberg Terminal
These studies provide historical default statistics and credit risk insights that may support expected credit loss modelling and credit risk benchmarking.
Where Do Macroeconomic Assumptions Come From?
Macroeconomic data and industry statistics may be referenced from reputable international institutions.
Commonly referenced sources include:
International Monetary Fund (IMF)
www.imf.orgWorld Bank
www.worldbank.orgOrganisation for Economic Co-operation and Development (OECD)
www.oecd.orgNational Bureau of Statistics of China
www.stats.gov.cnThese institutions provide macroeconomic indicators such as GDP growth, inflation, industry output, and economic outlook statistics that may support financial modelling assumptions.
Professional Disclaimer
The resources listed above represent commonly referenced public sources used in financial analysis and valuation practice.
MILES Valuation may also utilise additional proprietary databases, industry research, and professional judgement when performing valuation engagements.
The selection of data sources and analytical methodologies will depend on the nature of each engagement, the availability of market information, and the applicable accounting and reporting requirements.