It’s Easier Than Ever to Actually Be. 📝 Every year, firms sign financial statements referencing IPEV / ASC 820. Most realize they may not be fully aligned with the modern standard, and have simply continued using the familiar approach the industry has relied on for years. 🤝 Side letters smooth things over. Audit notes get tucked away. The disclosures look routine. And the signatures go on. But it’s worth asking, honestly: 🔍 You know you’re not fully IPEV / ASC 820 complian

🔑 Key Takeaways • VC valuations require a different mindset than PE. Early stage companies behave like options, not steady state businesses. • OPM, PWERM, and (rarely) CVM are the right tools for capturing uncertainty, optionality, probability, and complex capital structures. • Fair value and investment analysis share the same foundations. The same models used for ASC 820 compliance — OPM, PWERM, breakpoints, and probability based waterfalls — are also the backbone of due