Procedures Manuals are a set of documents designed to standardise the processes involved in accomplishing tasks within an organisation. Procedures Manuals normally contain policies, guidelines and standards to ensure consistency and reduce variation in the way and manner tasks are accomplished. In the conduct of business valuation analysis, Procedures Manuals qualify as intangible assets which are a class of assets without physical form yet can present enormous value to the owners. To estimate the fair market value of Procedures Manuals, business valuators apply techniques under income, market and asset methods, a situation made possible by the fact that Procedures Manuals can be recognised, separated, and the associated economic benefits reliably measured.