Financial statements from Georgia

Schmidt & Schmidt offers financial statements from Georgia in electronic form and their translations into English.

According to law, companies in Georgia must submit annual financial statements. These data are reported in electronic form.

Reporting of financial statements in the Georgia is subject to the Accounting and Audit Act.

In Georgia, the IFRS are used by public companies and companies participating in stock exchange. They can also be used by small and medium-scale enterprises.

Annual financial statements are reported to the Accounting and Audit Service. Furthermore, financial statements must be reported to tax authorities.

In the near future, the Accounting and Audit Service is going to publish annual financial statements of large companies on a special website which is currently under construction.
Financial statements must be filed until October 1st of the following year.

Annual financial statement includes:

• Balance sheet
• Profit and loss report
• Notes

Small and medium-sized companies compile their financial statements using a simplified form.

Financial statements provide detailed information about a company’s financial state, solvency and performance of an enterprise.

Depending on the size of the enterprise, its financial statement can contain up to several hundred pages.

In the near future, financial statements will be provided by the Accounting and Audit Service. Currently, their main source of information on financial statements is the stock exchange.

Financial statements can provide valuable information about potential business partner which can be used for making decisions like purchasing capital shares or goods or taking legal action to collect debts.

To obtain financial statements of a specific company, its full name in Georgian language and registration number are required.

Financial statements are provided in accordance with the Georgian legislation and legal requirements on personal data protection.

On our website, you can make a preliminary request if a certain company’s financial statements are obtainable.