3.1 General characteristic and main indicators of activity of jsc «Milland»

JSC Milland is founded in 2002. The joint-stock company is an organizational form of association of shareholders. It accumulates the capital by release in the circulation of securities - stocks. The joint stock company possesses the status of the legal entity. Its establishment requires the minimum of authorized capital distributed on certain number of actions. Property of society means from sale of shares in the form of an open subscription make, the income etc. Shareholders bear responsibility according to joint stock company obligations within the contribution (equity stake).

The supreme body of joint stock company is meeting of shareholders, executive body board, control body audit commission. Members of society have the right for management of society by means of vote by the principle one action - one voice. However usually preference shares don't grant a vote at meeting of shareholders. The annual publication in the press of such main financial performance of activity of society in a year, as profit, losses, dividends, etc. is obligatory.

The joint stock company as an organizational form possesses in comparison with other types of the enterprises certain advantages:

- unlimited validity period;

- possibility of attraction of additional investments by a share issue;

- relative simplicity of the circulation of stocks in money at an exit from society in comparison with opportunity to receive the share at an exit from other societies; existence of the fulfilled mechanism of functioning on the basis of the joint-stock legislation which has established in world practice;

- possibility of the quotation at stock exchanges of the securities issued by joint stock company, and their free transition from one person to another;

- existence of the considerable capital that reduces risk of shareholders.

However joint stock companies are inherent also certain shortcomings:

- existence of a problem of coordination of interests of management of joint stock company and shareholders;

- lack of interest at the persons who are working at the enterprise and not owning actions, in increase of labor productivity and other indicators of efficiency;

- insufficient flexibility, efficiency and maneuverability, conservatism in management.

In JSC Milland there is a division which is engaged in production and production of dairy products.

The repair group is engaged in repair of cars and the equipment.

Object of activity of joint stock company is trade and purchasing and production economic activity. The main activities are:

- production of dairy products (milk, cottage cheese, sour cream, oil, weight cottage cheese);

- production of cheese - a raw;

- implementation in accordance with the established procedure intermediary and trade and purchasing activity, etc.

Table 1. Assessment of profitability of the organization of 2010-2012.

Indicator	years
	2010	2011	2012
Return on assets (assets)	37,5%	39,3%	22,7%
Return on fixed assets	59,9%	58,5%	38,1%
Return on current assets	41%	41,5%	61,9%
Return on capital and reserves	7,5%	8,4%	-30,3%
Return on long-term liabilities	41,9%	41,7%	40,6%
Return on short-term liabilities	50,5%	49,9%	89,7%
return on sales	18,1%	29,9%	25,3%
Notes: complete by financial statement of JSC Milland

Indicators of business activity characterize results and efficiency of the current activity of the economic subject. The financial condition of the organization is in direct dependence on that, how fast investments made in assets, turn into real money. Duration of finding of means in a turn is defined by cumulative influence of a number of multidirectional factors of external and internal character. Dependence of speed of a turn on the applied accounting policies, the created structure of assets can be an example.

Thus, the main characteristics and indicators of activity of JSC Milland that allows to pass to directly analysis of the organization of management accounting at this enterprise are considered.