Getting Equity Value

Hi guys, Thanks for your help in advance...
I have several questions related to equity value. I am a intern and I really would appreciate your help, so these are my questions:

1.- Whats the difference, or in which situations should I use these methods to get Equity value:

1.1 First method: Just subtracting net debt .
Get Free cash flow to the firm. then Subtract net debt = Equity Value

1.2 Second method: projecting debt
Get Free cash flow to the firm. Then project all the debt and subtract = Equity Value

2.- Why just I should consider interest-bearing debt, if I am the owner eventually I am going to have to pay all liabilities not just interest-bearing. (I am not including here WK accounts...)

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