Valuation gives the opportunity of creation an idea regarding the most likely value of an asset as of a specific valuation date. The value of an asset can vary according to the type of appraisal value (market, fair, specific, investment) or the assumptions the interested side wishes to consider. The assumptions underlying the valuation of a specific asset is of a great importance, especially when valuing a business interest, as any agreement and condition can substantially impact on the value of an asset. The most common standard cases occur when financial reporting and tax purposes require asset valuation. However, when the alternate identification is put in the agenda, which maximizes the benefit from the asset removal, the valuation becomes essential in selecting asset acquisition, disposal, or asset utilization scenarios.You can use the qualified valuation service in the following situations:<ol><li style="text-align:justify;">During the preparation of financial reports, the assessment or revaluation of assets is mandatory or recommended in accordance with the standards.</li><li style="text-align:justify;">To satisfy tax obligations fairly due to the fact that, in most cases, the book value of the assets differs from their market value, and which the tax authorities will rely on when evaluating the taxable base during a tax audit.&nbsp;</li><li style="text-align:justify;">To identify the expected value of the asset to be acquired and/or disposed, as well as its best use, before engaging in a big deal.</li></ol><img src="/uploads/Slide2_2_e1ac99b0fa.PNG" alt="Slide2 (2).PNG">

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We actively carry out valuation and report preparation in full compliance with International Valuation Standards (IVS), ensuring the validity of the document within the jurisdiction of Georgia and beyond. When conducting the valuation for financial reporting purposes, we ensure compliance with the requirements of the IFRS 13 standard.At the initial stage, the SavvY team will actively assist you to determine the details of the service you need. We actively identify the type of optimal appraised value based on your goals, determine the date of the appraisal, specify the appraisal approaches, and identify the appropriate assumptions and scenarios.

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Sophio Khidesheli

Executive Team

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Asset Valuation

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.

Cellfie

 Fixed Assets Inventory Service in Cellfie

In 2022, SavvY’s valuation team carried out the&nbsp;census of the supplies of Socar Georgia gas.&nbsp; The project included stocktaking of&nbsp;supplies recorded&nbsp;in the company’s accounting system.JSC “SavvY” Valuation Department has provided the following services:&nbsp;Physical accounting of supplies and reconciliation of the results with the list of supplies recoded in the accounting system.JSC “SavvY” Valuation Department&nbsp;prepared the inventory report and the appropriate policy document on inventory process.

Socar Georgia gas

Census of The Supplies of Socar Georgia Gas

&nbsp;In 2022, the evaluation team of JSC "SavvY" carried out a fair value evaluation of the&nbsp;immovable property of JSC “Nikora”.The valuation process was divided into the following stages:<ul style="list-style-type:disc;"><li style="text-align:justify;">Appraisers performed a physical inspection of the assets, identified the assets to be appraised and the purpose of the valuation, communicated with stakeholders, identified the company’s expectations and requirements;</li><li style="text-align:justify;">The optimal methods and approaches to the valuation of property were determined.</li><li style="text-align:justify;">After preliminary analysis, data selection and market research, the valuation team determined the fair value of the assets using selected methods and valuation approaches.</li><li style="text-align:justify;">At the final stage, valuation team prepared the valuation report in full compliance with IVS and IFRS 13 standards.</li></ul>

Nikora

Fair Value Evaluation of The Assets of Nikora

physical Identification of Inventories and Property, Plant and EquipmentFor S. Khechinashvili University Hospital, Ltd., SavvY prepared a fixed asset register and conducted an inventory count. The service provided consisted of the following three stages: 1. Identification of fixed assets – The aim of this phase is to reconcile the list of the fixed assets described during the asset census and the records in the accounting system. The balance and any possible excesses or shortfalls are then identified.2. Formation of the Fixed Asset Register – The purpose of this stage is to prepare the structure of the Fixed Asset Register consistent with IFRS.3. Identification of inventory – Assessment of conformity between physically existing and accounted units at the level of structural divisions.Implementation of International Financial Reporting StandardsBetween December 2018 and January-February of 2019, IFRS standards were implemented in S. Khechinashvili University Hospital Ltd. This work included the following:Financial statement prepared according to the IFRS for SMEs for the period ended in December 31, 2018, which included a complete financial consolidation package for the following periods:December 31, 2018, (reporting period), December 31, 2017 (comparable period) and January 1st, 2017 (date of transition).The financial report included the following components: statement of financial position, statement of profit-loss and other comprehensive income, statement of changes in equity, statement of cash flow and notes.&nbsp; &nbsp; &nbsp;2. Accounting policies of the company’s principal financial components: implementation of property, plant and equipment and development of management policies, implementation of inventory and development of management policies and implementation of accounts receivable and development of management policies.

Khechinashvili university hospital

IFRS Implementation in Khechinashvili University Hospital

JSC m² Real Estate was established by JSC Bank of Georgia in 2006 and has become a significant player in the Georgian real estate market. In 2018, SavvY’s valuation team for JSC m² Real Estate carried out an inventory count process of fixed assets and inventory located at 25 sites. The final report, which included data about the predetermined characteristics of the units of the assets, was presented to the client.

m² 

Asset Valuation in m²

In 2021, SavvY’s valuation team carried out the census of the supplies of LTD “Crosty Global”.&nbsp; The project included stocktaking of&nbsp;supplies recorded&nbsp;in the company’s accounting system.JSC “SavvY” Valuation Department has provided the following services:&nbsp;Physical accounting of supplies and reconciliation of the results with the list of supplies recoded in the accounting system.JSC “SavvY” Valuation Department&nbsp;prepared the inventory report and the appropriate policy document on inventory process.

Asset Valuation

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