Fixed Assets Inventory Service in Cellfie

Fixed Assets Inventory Service

„VEON GEORGIA“ is owned by Cellfie, leading international provider of telecommunications and internet services, headquartered in Amsterdam, The Netherlands.

In 2019 – 2020, JSC “SavvY” Valuation Department provided fixed assets inventory service to LLC "Cellfie". The project included an inventory of fixed assets on the company’s balance sheet.

JSC “SavvY” Valuation Department has provided the following services: physical inspection of fixed assets and assign them with individual barcode stickers, reconciliation of the lists of described fixed assets and the company’s balance sheet.

JSC “SavvY” Valuation team has compared and then arranged lists of the fixed assets described during the inventory procedure with the items in the company’s financial accounting system.

Market Value Appraisal Service

"Cellfie" is Georgia’s third-largest telecommunications operator. The company is owned by VEON, a leading international provider of telecommunications and internet services, headquartered in Amsterdam, The Netherlands.

In 2020, JSC “SavvY” Valuation Department carried out an inventory assessment process and determined the market value of the identified assets. Due to the company’s work specificity, the company owns mainly specialized assets (servers), which is one of the most crucial components for the given company to operate.

The valuation process was divided into the following stages:

Valuation team have audited the assets, identified them to be evaluated and outline the purpose of the valuation, have communicated with stakeholders, identified the company’s expectations and requirements;

Optimal methods and approaches for the valuation of movable property were determined.

After preliminary analysis, data selection and moving property market research, with selected methods and approaches, the team calculated the market value of the assets.

At the final stage, the evaluation report was prepared in full compliance with IVS and IFRS 13 standards.