Economic and financial characteristics of OJSC "Goretskaya rayagropromtekhnika", Mogilev region, Gorki.


1. Diary

2. Economic and financial characteristics of JSC “Goretskaya Ryagropromtekhnika”, Mogilev region, Gorki………………………………………………………………………………2

3. Explanatory note ……………………………………………………………………………………………………13


Economic and financial characteristics of JSC “Goretskaya rayagropromtekhnika”, Mogilev region, Gorki.

OJSC “Goretskaya rayagropromtechnika” was registered as a legal entity by the decision of the Mogilev Regional Executive Committee on the basis of the Charter. In March 2003, based on the decision of the Mogilev regional executive committee, OJSC Goretsky rayagropromsnab and OJSC Goretskaya rayagropromtechnika were merged with OJSC Goretskaya rayagropromtekhnika. On the basis of the application, OJSC “Goretskaya rayagropromtechnika” was registered as a taxpayer under UNN 700100784.

JSC “Goretskaya rayagropromtekhnika” was reorganized by joining the SAVA Agricultural Production Cooperative or the Sava production site and the SPK Kolkhoz im. Lenin or the production site. Lenin The total land area is 8186 hectares, including 7182 hectares of agricultural land, of which 4859 hectares are arable land. The soils of the farm are mostly loamy, underlain by madder. The average quality of agricultural land is measured by 30.7 points, arable land – 33.8.

The structure of sown areas is determined by the specialization of the economy. The grain group occupies the largest share – 54.9%; sugar beet -3.2%; corn – 16.4%; perennial grasses – 16.2%; winter rapeseed – 7.4%, annual grasses – 7.5%.

In crop production, the farm specializes in the cultivation of cereals, rapeseed, corn, annual and perennial grasses, and sugar beets. The remaining areas are mainly subordinated to fodder production. Animal husbandry is focused on milk production and cattle breeding.

The main purpose of the enterprise is to make a profit.

The specialization of agricultural production determines the qualitative side of the social division of labor, i.e. determines which industries (what products) produce or need to produce. The quantitative side of the social division of labor is the volume and structure of agricultural production and, above all, the volume and structure of marketable products. The composition and structure of commercial products is presented in table 2.1.

Table 2.1. Composition and structure of commercial products of OJSC “Goretskaya Ryagropromtekhnika”

Product types 2010 2011 2012 Average over 3 years
million rubles % million rubles % million rubles % million rubles %
Corn 20.9 39.8 34.9 34.5
Rape 12.8 4.6 4.9 5.6
Sugar beet 2.2 4.3 5.1
flax seed 0.1 0.1
Dr. crop production 0.6 1.5 1.5 1.4
Total crop production 31.2 48.1 45.8 44.8
cattle for meat 11.0 7.1 9.5 9.2
Milk 48.8 44.5 43.4 44.2
Horses 0.1 0.1
Sold for breeding purposes and other sales – cattle 5.3 1.6
Other livestock products 0.1 0.1 0.1
Total livestock 65.1 51.7 52.9 53.9
Total for agriculture 100.0 100.0 100.0 100.0

Based on the data in Table 2.1, we can conclude that this enterprise has seen an increase in commercial livestock products, in particular, milk production has increased by 11,810 million rubles. In general, the company’s marketable output increased by 27,809 million rubles.

Also from this table it can be seen that the crop industry, namely the sale of grain in the structure of marketable products, occupies the largest share (34.9%), which confirms the specialization of the economy. The rest of crop production is 10.7%. The crop sector in the structure of marketable products occupies 45.8%, and the livestock sector 52.9%, which confirms the specialization of the economy.

In agriculture, land acts as the main factor of production, without which the process of agricultural production is impossible. To review the state of land use on the farm, we use Table 2.2.

Table 2.2. Composition and structure of land use of OJSC “Goretskaya Ryagropromtekhnika”

Explication of lands 2010 2011 2012 Deviation
ha % ha % Ha % Ha %
Total land area 100.0 100.0 100.0 100.0
including agricultural land 86.4 86.1 87.7 89.2
of which: – arable 55.9 55.3 59.4 63.8
– meadow 30.5 30.8 28.3 25.4
Non-agricultural land 13.6 13.9 12.3 10.8
including -forest
– under water objects 13.6 13.9 12.8 11.9
– other
Soil quality, points: – agricultural land
– arable

Analyzing the data in Table 2.2, it can be noted that the total land area has increased by 4002 hectares. In connection with the accession of land. With the increase in the total land area, the area of both agricultural land (by 3570 ha) and non-agricultural land (by 432 ha) increased.

An important role in the economy of the enterprise is played by labor resources. Let’s analyze the availability of labor resources and the efficiency of their use in Table 2.3.

Table 2.3. Provision of production with labor force and its use in OJSC “Goretskaya Ryagropromtekhnika”

Indicators 2010 2011 2012 2012 in % to 2010
Average annual number of employees employed in agricultural production, pers. 190.4
Employment, people/100 ha 0.03 0.03 0.03 96.4
Load per 1 worker, ha: – agricultural land 34.7 36.8 36.3 104.6
– arable land 22.5 23.6 24.5 108.9
Man-days worked per year for: -1 worker 2.2 2.1 2.1 95.5
-100 hectares of agricultural land 0.06 0.05 0.06 100.0
Produced gross output per: -1 employee, thousand rubles. 204.6
– 1 man-hour, rub. 220.1

Table 2.3 shows that in 2012, compared to 2010, the average annual number of employees increased noticeably (90.4%). The load per employee increased both due to agricultural land (4.6%) and arable land (8.9%).

Also, the production of gross output per 1 worker increased almost 2 times (104.6%), as well as per 1 man-hour. increased (120.1%)

Table 2.4 Composition and structure of fixed production assets of OJSC Goretskaya Ryagropromtekhnika

Types of fixed assets 2010 2011 2012 Deviation (+,-) 2012 from 2010
million rubles % million rubles % million rubles %
Buildings and constructions 52.8 61.7 70.4
Transfer devices 1.1 1.4 0.6
cars and equipment 34.3 31.3 24.7
Vehicles 3.6 3.2 1.9
Inventory 0.4 0.7 0.3
working animals 2.1 1.7 2.1
Total 100.0 100.0 100.0

Analyzing the data in Table 2.4, it can be seen that buildings occupy the largest share in the structure of the cost of fixed production assets (124,753 million rubles).

The increase in the value of fixed assets occurs mainly due to their revaluation, using standard coefficients. Also, the cost of fixed assets increases with the commissioning of new facilities, machines, equipment. As a result, in 2012 the absolute increase amounted to 133,341 million rubles compared to 2010.

Fixed assets play an important role in agricultural production. With their help, all products manufactured by the enterprise are produced. The efficiency of management as a whole also depends on the effectiveness of their use. Consider the availability of fixed assets in OJSC “Goretskaya Ryagropromtekhnika”. To do this, consider the following table 2.5.

Table 2.5 Security of production with fixed and working capital and their use in OJSC “Goretskaya Ryagropromtekhnika”.

Indicators 2010 2011 2012 2012 in % to 2010
Capital-labor ratio of employees with fixed assets, million rubles per person 308.2 493.4 262.1 85.0
Capital equipment of production with fixed assets, million rubles / 100 hectares of agricultural land 7.4 11.6 6.3 85.1
Capital productivity of fixed assets, rub./rub. 0.19 0.21 0.51 268.4
Capital intensity of gross output, rub./rub. 5.3 6.2 2.2 41.5
Working capital turnover ratio 1.4 1.6 1.4 100.0
working capital turnover rate: – years 0.7 0.6 0.7 100.0
– days 101.2
Profit rate, % 0.05 0.05 0.09 180.0

From the data in Table 2.5 it can be seen that the capital-labor ratio of workers decreased by 15%, the capital equipment of production also decreased by 14.9%, the return on fixed assets increased by 168%, the capital intensity of gross output decreased by 58.5%.

Also note that the turnover ratio has not changed.

Table 2.6 Security of production with energy resources and their use in OJSC “Goretskaya Ryagropromtekhnika”

Indicators 2010 2011 2012 2012 in % to 2010
Energy equipment of production, l. s./100 ha 27.2 29.2 10.7 39.5
Power-to-weight ratio of workers, l. s./pers. 10.9 12.5 4.4 40.7
Energy efficiency of resources, rub./l. with. 5.2 6.4 8.8 168.5
Energy intensity of products, l. s./rub. 0.2 0.2 0.1 57.1

Analyzing the data in Table 2.6, we can conclude that such indicators as the energy supply of production (60.5%), the energy supply of workers (59.3%), the energy intensity of products (32.9%) have significantly decreased, and the energy efficiency of resources has increased (68.5% )

Now let’s analyze changes in crop yields and animal productivity in dynamics for 2010 – 2012. To do this, we analyze the following table (2.7.)

Table 2.7 Yields of the main crops and productivity of animals in JSC “Goretskaya Ryagropromtekhnika”

Indicators 2010 2011 2012 2012 in % to 2010
Productivity of crops, c/ha: – grain 37.5 41.5 41.5 110.7
– beet 94.1
Milk yield from one average annual cow, centner/head 85.2
Average daily gain in live weight of cattle, g 100.7

The data in Table 2.7 show that the following changes in crop yields occurred on the farm during the observed period: grain yields increased by 10.7%. And in the productivity of animals, the average daily gain in live weight of cattle increased by 0.7%.

Table 2.8 – Level of production and labor intensity of products

Indicators 2010 2011 2012 2012 in % to 2010
Level of production per 100 ha of arable land, c/100 ha: – grain 244.2 261.2 248.8 460.0
Level of production per 100 ha of agricultural land: – milk, c/100 ha 82.6 87.2 74.2 89.8
– increase in live weight of cattle, c/100 ha 14.8 14.9 7.5 50.7
Labor intensity of production, man-h / c: – grain 0.2 0.7 1.2
– milk 0.03 0.02 0.032 106.7
– increase in live weight of cattle 5.1 8.9 28.3 554.9

The table shows that the level of production in 2012. increased compared to 2010: grain by 360%. And it decreased: milk by 10.2%, increase in live weight of cattle by 49.3%.

It can also be seen that the labor intensity of production has increased significantly.

Table 2.9 Cost of production of agricultural products in OJSC “Goretskaya Ryagropromtekhnika”

Indicators 2010 2011 2012 2012 in % to 2010
Production cost of 1 ton, thousand rubles: – grain
– milk 317.5
– growth m. KRS 278.5

From this table it can be seen that the cost of production of 1 centner increased: grain by 400.0%, milk by 217.5%, the increase in fat. Cattle by 178.5%.

The most important source of expanded reproduction is the increase in the efficiency of agricultural production. To characterize economic efficiency and the level of agricultural production, both natural and cost indicators are used. Let’s consider the main ones on the example of our farm (table 2.10).

Table 2.10 Indicators of financial performance and production levels at OJSC Goretskaya Ryagropromtekhnika

Indicators 2010 2011 2012 Deviation (+,-) in 2012 from 2010, million rubles, p.p.
Profit (+), loss (-) of the reporting period, million rubles
Profit (+), loss (-) from the sale of products, million rubles
Level of profitability (+), unprofitability (-) of product sales, % including: – crop production -10.4 -26.2 -0.2 10.2
– animal husbandry -1.03 -0.15 -0.07 0.96

Analysis of table 2.10 shows that the profit increased significantly (by 2608 million rubles), as well as the profit from the sale of products increased (by 4430 million rubles).

The following is an analysis of the financial condition of the enterprise, which is carried out to assess the solvency of the enterprise.

The following indicators are used as criteria for assessing the structure of the balance sheet of an enterprise:

– current liquidity ratio

– equity ratio

The current liquidity ratio characterizes the general security of the enterprise with its own working capital for conducting business activities and timely repayment of the enterprise’s obligations.

The coefficient of security with own funds characterizes the presence of the enterprise’s own working capital necessary for its financial stability.

The basis for recognizing the balance sheet structure of an enterprise as unsatisfactory, and the enterprise as insolvent, is the presence of one of the following conditions:

the current liquidity ratio at the end of the reporting period of the enterprise has a value of less than 1.5;

– equity ratio at the end of the reporting period is less than 0.2.

Table 2.11 Indicators of the financial condition in OJSC “Goretskaya Ryagropromtekhnika”

Indicators 2010 2011 2012 Standard
Working capital ratio 0.09 0.1 0.48 not less than 0.1
Current liquidity ratio 3.87 2.5 1.92 at least 1.5
Solvency ratio 1.1 1.1 0.43 at least 1
Coverage ratio of financial liabilities 0.37 0.4 0.13

Based on the data in Table 2.11, it can be concluded that, since the value of the solvency ratio is greater than 1, it indicates that the company is able to stably pay current bills. The coefficient of provision with own working capital is below the norm, which indicates that the organization does not have enough own funds to finance current activities. The structure of the balance sheet of JSC “Goretskaya Rayagropromtechnika” is satisfactory and the company is solvent.

In order to organize effective management of the enterprise, increase financial stability, as well as being guided by the Law of the Republic of Belarus “On Accounting and Reporting”, adopted by the House of Representatives on 16.05.2001. JSC “Goretskaya Ryagropromtekhnika” has an accounting policy (Appendix 1) and a chart of accounts (Appendix 2), based on the use of organizational, technical and methodological methods of accounting. The company has developed a workflow schedule (Appendix 3).

Explanatory note.

OJSC “Goretskaya Ryagropromtekhnika” uses an automated form of accounting, the accounting program “1C: Accounting” is used, since it is the most practical and economically justified in terms of manual information processing.

Documentation of property, liabilities and business transactions, maintenance of accounting registers and preparation of financial statements is carried out in Russian in accordance with the registers of the agro-industrial complex.

Synthetic accounting registers are the main ledger, balance sheet, account analysis, journal-order for the account.

Analytical accounting registers are an account card, a balance sheet for an account, a cost accounting sheet.

Every day, a lot of business transactions are performed in agricultural organizations, which are drawn up by the relevant primary documents and reflected in the accounting registers. The logical conclusion of the accounting process is the preparation of reports for various periods of time and for various types of activities. Information about the activities of the organization is reflected in the accounting, statistical and operational-technical records, which ensures the receipt of the necessary data on its entrepreneurial activities.

Accounting statements – a system of indicators reflecting the property and financial position of the organization at the reporting date, as well as the financial results of its activities for the reporting period.

The final stage of the accounting process in OJSC “Goretskaya Ryagropromtekhnika” is the preparation of an annual report.

The workflow schedule contains a list of works on the content of documents, the creation, verification and processing of documents performed by each division of the enterprise, as well as by all performers, indicating their relationship and deadlines for completing work (Appendix 3). It is the basis for the effective application of operational management of production, as well as for effective decision-making on the conduct of business activities in general.

OJSC “Goretskaya Ryagropromtekhnika” has developed a standard chart of accounts (Appendix 2).

To reduce the possibility of losing primary accounting documents filled in on the farm, to fill them in and submit them to the accounting department in a timely manner, to summarize, process and group the data presented in them, to lay responsibility for their compilation on individuals occupying certain positions in the farm, it should be compiled as an element of accounting policy is a schedule for the distribution of responsibilities between employees of the accounting department (Appendix 4).

The enterprise, guided by the legislation of the Republic of Belarus, has formed its accounting policy, taking into account the management structure, the specifics of production and sales of products.

The accounting policy of an enterprise is an established set of methods, techniques and ways of maintaining and organizing accounting that do not contradict the law. The chosen method of maintaining and organizing accounting is used by all its structural divisions, regardless of their location (Appendix 1).


At the end of each year, Goretskaya Ryagropromtekhnika OJSC conducts a complete inventory of all types of enterprise property in order to correct accounting data with the actual availability of funds at the enterprise and to draw up an annual report. For its implementation, a permanent inventory commission is being created. The absence of at least one member of the commission during the inventory is the basis for recognizing its results as invalid.

The head of the enterprise and the chief accountant are responsible for the correct and timely inventory.

The decision of the board to conduct an inventory is drawn up by the Order, which indicates the objects of inventory, the chairman and members of the inventory commission are determined to conduct an inventory of goods and materials, feed, seeds, fertilizers, medicines, fixed assets, livestock recalculation (Appendix 5).

According to Article 10 of the Law of the Republic of Belarus “On Accounting and Reporting”, an inventory is mandatory before drawing up annual reports.

The reasons for conducting an inventory are various and may be related to the following circumstances:

– Errors in receiving and dispensing funds;

– Abuses of financially responsible persons;

– Natural losses as a result of the influence of the external environment

Such economic phenomena are not documented and can only be established as a result of an inventory. Therefore, the main objectives of the inventory are:

• identification of the actual presence of property;

• verification of the completeness of the reflection in the accounting and the reality of obligations;

• comparison of the actual availability of property and the reality of liabilities with accounting data, identification of deviations.

At the same time, an inventory is necessary to ensure control over the safety of valuables and the work of financially responsible persons, checking the conditions for storing inventory items, the state of storage and weighing facilities, etc.

Conducting an inventory of property at OJSC Goretskaya Ryagropromtekhnika involves the implementation of the following stages of work:

1. Creation of the commission. Determination of the composition of the inventory commission with the allocation of a chairman. This stage of work is drawn up in the order of the head (Appendix 5)

2. Work of the commission in places of storage. Obtaining from the financially responsible person all documents confirming that he has property, checking weighing instruments, sealed entrances and exits to the premises, etc.

3. Removal of residues. It is carried out by weighing, measuring, recalculating material assets with the derivation of results and their confirmation by a financially responsible person. An inventory list is being compiled.

4. Accounting check. Checking the inventory list for compliance with the actual data contained in it for each commodity item with the accounting ones and deriving the results (surplus, shortage or correspondence). In the absence of discrepancies between the actual availability and the accounting data, OJSC Goretskaya Ryagropromtekhnika draws up a “Reference on the results of the inventory of inventory items.” As a rule, surpluses and shortages are reflected in the collation statements, but for the study period, such was not revealed in OJSC. Shortfalls due to natural wastage are determined by natural wastage calculations using standard coefficients determined for each type of material assets.

5. Consideration of inventory materials by the manager. Examination of all documentation on the conducted inventory and making a decision on the regulation of discrepancies.

The inventory is carried out by natural measurement and census of the availability of material and labor resources, enterprise funds, followed by their comparison with accounting indicators.

Other operations of accounting data that cannot be actually verified are carried out by clarifying and reconciling inventories of settlement transactions. During the year, several inventories are carried out at the enterprise, to determine the timing and procedure for conducting an inventory, an annual inventory plan is drawn up.

The results of the inventory on the farm are documented in accounting documents, certified by the signatures of the persons – the chairman and members of the inventory commission, who carried out the inventory, as well as the persons who accepted the valuables for safekeeping. Minutes of meetings and other inventory materials are kept in the archives of the organization for 10 years.

Before starting to check the actual availability of property, the inventory commission should receive the latest receipts and expenditure documents or reports on the movement of material assets and cash at the time of the inventory. Financially responsible persons give receipts stating that by the beginning of the inventory, all expenditure and receipt documents for property have been handed over to the accounting department or transferred to the commission and all valuables received for their safekeeping have been credited, and those that have left have been put into consumption. Similar receipts are also given by persons who have accountable amounts for the acquisition or powers of attorney to receive property. Information about the actual availability of property and the reality of the recorded financial obligations are recorded in the inventory list or inventory acts.

During the inventory at OJSC “Goretskaya Ryagropromtekhnika”, an inventory list of fixed assets was compiled (Appendix 6), which indicates the name of each type of object, date of issue, price, inventory number, actual quantity and cost, their availability according to accounting data and materially responsible face.

The presence of material assets, finished products is checked with the obligatory participation of a financially responsible person. The results of counting, measuring and weighing are recorded in the inventory lists of inventory items, which are signed by all members of the commission. Financially responsible persons confirm on each inventory that they have no claims against the commission and that they have accepted the verified values for safekeeping.

When conducting an inventory at JSC “Goretskaya Ryagropromtekhnika”, an inventory list of inventory items (grain) (Appendix 7), an inventory list of inventory items (low-value and wearing items) (Appendix 8), an inventory list of inventory items (finished products) (Appendix 9), an inventory list of inventory items (raw materials and materials) (Appendix 10), which indicates the name of each type of inventory items, price, unit of measurement, actual quantity and cost, their availability according to accounting data and responsible person.

An inventory of funds, valuables and strict reporting documents is carried out monthly and is obligatory for December 31. When calculating the actual availability of funds in the cash register, cash, postage stamps and state duty stamps are taken into account. No documents or receipts are included in the cash balance of the cash desk. The inventory of the cash register is documented by the act of inventory of cash (Appendix 11), which indicates the inventory commission, the results of the inventory, as well as the chairman of the commission and members of the commission. If a shortage or surplus of valuables is found in the cash desk, the amount of shortages or surpluses and the circumstances of their occurrence are indicated in the act.

After conducting an inventory for the reporting period, checking the correctness of the reflection of account entries, drawing up a preliminary working balance at the end of the year, analytical and synthetic accounts are closed.

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