Value is not a concept that can be easily enclosed in a universally valid definition and there is no unique measure for it. This chapter focuses on the bases for values and on valuation methods: income-based method, market-based method, and cost-based method. The different types of valuation according to the purpose of the assignment are also examined. The chapter then describes the characteristics expected of valuers, who should not just “apply the formulas”, but also satisfy a broader set of requirements. The valuation report is also discussed, which must provide all the information necessary for a third party to understand how the valuation process took place. Finally, a comparison is made between the main valuation standard setters.