Organizations need consulting services in various directions in order to support their ambitions, goals, development and to handle crisis situations. It often becomes necessary to revise activities in a correct direction or make such changes that will ensure successful operations of the company in the market.     

Nexia TA  offers high-quality decisions, teamwork approach and services, focused on the growth and success of a client company. Specialized teams make joint efforts to ensure that the company’s customers are able to overcome any challenges or difficulties they encounter, especially in today’s unpredictable and crisis environment.   

Nexia TA’s competence and global capabilities in consulting provide an individual and effective approach to clients.

Amendments to the Law of Georgia on Accounting, Reporting and Auditing in 2016 made it mandatory for companies to prepare financial statements in accordance with IFRS or IFRS for SMEs standards.

Therefore, companies are required to bring reporting systems in line with IFRS or IFRS for SMEs standards.

 Nexia TA offers an examination of the company’s reporting system and its adjustment in accordance with IFRS or IFRS for SMEs standards:

• Study and analysis of the company’s reporting system;
• Develop reporting policies in accordance with IFRS or IFRS for SMEs standards;
• Adjust company starting balance to comply with IFRS or IFRS for SMEs standards;
• Prepare financial statements in accordance with IFRS or IFRS for SMEs standards.

While acquiring, selling or merging businesses, it is crucially important to obtain factual information about target objects in order to make final decision successful as well.   Due Diligence service aims at providing objective information about the target to a client and assesses the risks of potential transaction, identifying next stages:

• Risk assessment, analysis of potential threats and factors, hindering business activities;
• Analysis of assets and liabilities;
• Analysis of key ratios, comparison of planned actions and current state of business;
• Analysis of the current commercial status of the business;
• Analysis of compliance with business tax legislation.

Property / business valuation is performed according to the International Valuation Standards (IVS) by a certified appraiser and the relevant report is issued:

• The analysis, views and conclusions contained in the report are the property of the appraiser and are valid only under the limiting terms and assumptions that represent apart of the report;
• The appraiser has neither the present nor the future interest in the value of the appraised object and is acting impartially;
• The appraiser’s remuneration does not depend on the final value of the appraised item, as well as on the events and consequences that may be the result of using the present report  by the customer or third parties,  in case we do not have any preliminary knowledge about it.   
• The appraisal report presents the appraiser’s professional opinion regarding the value to be appraised for a particular date and cannot be considered as a guarantee that the appraised value will not change subsequently;
• Appraisers inspect and photograph the premises on site.
• When appraising an intangible asset / business, an effective and fair methodology is selected and the market value of the asset / business / share is determined and evaluated.

Financial management is an important supporting function for the success of the company and it has a clearly outlined purpose: reporting  and analysis of financial results of the company’s operations, forecasting revenues and expenses, budgeting, controlling the clarity, solvency, liquidity and profitability of the company.

Competent financial manager (CFO), along with other functions, conducts these analytical activities. His/her purpose is to uniformly study the quantitative and qualitative information available to the organization and, based on it, to submit recommendations to the general manager. In doing so, the CFO helps the organization’s director make better use of his limited time and make decisions based on numbers, rather than just intuition. Being sure that the financial direction of the enterprise is in credible hands, the director will focus on the core activities of the enterprise, ensuring its growth and development.

Tangible benefits of professional financial support are:

• A clear picture of the financial results of the business;
• Optimized profitability;
• Flexible financing system;
• Reliable forecast of financial results.

Mergers and acquisitions is rather difficult and delicate process, especially when the target organization has been operating for multiple years and has a well-established structure, culture, operations and financial management process.

Successful mergers are managed on several levels:

Financial Part

First of all, correct assessment of the target company, management of the negotiation cost and other related terms. Harmonization of the financial systems of two organizations in the process of direct merger: consolidation of accounting statements (at the time of consolidation) or bringing to common principles (at the time of acquisition); optimizing the process of turnover of financial documents; development of a unified reporting format, etc. 

Operations Part

Harmonize of the culture and business processes of the target enterprise with the purchaser. Establish communication, optimize processes and maximize synergies. This is the most delicate part of the merger / acquisition, as the processes of the target company have already been established and, most likely, these very processes and human resources have led to its formation as a merger / acquisition candidate.

Tax Part

Conducting the consolidation process in terms of taxation: clarifying the tax status of the legal entity (ies), formed as a result,  establishing reporting procedures, resolving acquisition-related tax issues, and identifying and minimizing tax risks.

Legal Part

Conduct merger / acquisition legal issues: drafting contracts, segregation of rights to assets, revision of employment contracts, managing current disputes of the target company, detecting and minimizing merger / acquisition legal risks.

Accounting documents should accurately reflect the economic activities of the enterprise and its outcomes, the number of assets (fixed assets).

If your accounting data differs from the actual situation, Nexia TA can help you detect and eliminate these inaccuracies through inventory. 

It is during the inventory that it is possible to determine the actual condition of the accounting balances. 

Nexia TA offers the following services: 

• Inventory of fixed assets and supplies (assignment of inventory number, labelling);
• Develop inventory forms;
• Comparison with accounting office and drawing differences.

Project management has evolved from one of the most attractive approaches that organizations could use in recent years to one of the most important business processes necessary for survival. Dramatically changing environments and tough competition are forcing organizations to quickly adapt to changes and refine management systems. Project management helps them achieve these goals.

The basics of project management start with planning. Cost and resource planning is crucial in the subsequent plan-fact and deviation analysis process.  By the help of the program MS Project the correct direction and functionality of the complete project management cycle is presented.

Also, the most important factors in project management are risk and stress management, sound management approaches and procurement, which ultimately enable the production and submission of proper reports.  

Along with the growth of the company, the volume of financial information to be processed increases so much that the CEO is no longer able to carry out  financial functions and there comes a time when the company faces necessity  to hire a CFO.

That is why Nexia TA, against the backdrop of a pandemic environment, has added a new service: CFO Outsourcing, which involves the services of a qualified CFO, dealing with  various financial difficulties when resolving critically important issues.

Besides, the CFO is responsible for proper budget planning and control, expenditure and revenue analysis, evaluation of fixed assets, relations / negotiations with financial institutions (banks, funds), etc.   

Nexia TA provides two types of CFO outsourcing services: 1) full outsourcing for those who do not have a financial director and 2) financial support (“financial recovery”) for those who have a financial director but still wish to get financial advice.

Support in international trade implies liaising with relevant stakeholders through the Nexia International Network, assistance in consulting, management and logistical activities, linked to international trade.