explain the The six$-$step valuation process explaining and discusssing the importance and relevance of each step

$-$analyze the economics and competitive conditions of the industry.

$-$Analyze the particular firm's strategy in light of the competitive dynamics of the industry.

$-$Assess the quality of the firm$$s accounting and financial reporting.

$-$Analyze the firm$$s profitability and risk with a set of financial ratios.

$-$Use all of this information to project the firm$$s future financial statements.

$-$Derive from projected financial statements the forecasts of future earnings, cash flows, and dividends as measures of projected future payoffs for the firm.