ESTIMATION OF PRODUCTION EFFICIENCY BY MEANS OF INDEX OF RETURN ON FIXED PRODUCTIVE ASSETS

The article declares that economic entities should be aimed at the highest profit received from each rouble invested in enterprise property. The property of agricultural enterprises is represented by inefficient idle assets that don’t belong to the main business; this prevents real estimation of property efficiency and makes it lower. Estimation of property efficiency occurs by means of index of return on business assets and allows overcoming the weak point mentioned above. At the same time its applying is restricted due to inability of appropriate stock shifting from the total stock. The authors suggest applying of index of return on productive assets is efficient even in accounting reporting of the enterprise and it doesn’t reduce analytical value of accounting reporting (in comparison with return on business assets). Further detailed analysis of return on productive assets requires applying of indexes of stock turnover whereas there are no scientific recommendations in respect to this aspect. The research certifies that applying indexes of stock turnover based on cost value and not profit allows making appropriate conclusions about the reasons and factors influencing return on productive assets.

1. Finansovyy analiz [pod red. T. S. Novashinoy]. Moscow: Mosk. finn.-prom. akad., 2005. 192 p.

2. Chuev I. N., Chueva L. N. Kompleksnyy ekonomicheskiy analiz khozyaystvennoy deyatel’nosti. Moscow: Dashkov i K, 2006. 368 p.

3. Ekonomika organizatsiy (predpriyatiy). Moscow: YuNITI-DANA, 2003. 608 p.

4. Federal’naya sluzhba gosudarstvennoy statistiki Rossii: http://www.gks.ru/.

5. Selezneva N. N., Ionova A. F. Finansovyy analiz. Upravlenie finansami. Moscow: YuNITI-DANA, 2006.

6. 639 p.

7. Bernstayn L. A. Analiz finansovoy otchetnosti: teoriya, praktika i interpretatsiya. Moscow: Finansy i statistika, 2003. 624 p.

8. Brigkhem Yu., Erkhardt M. Finansovyy menedzhment. SPb.: Piter, 2009. 960 p. (Ser. Akademiya finansov).

9. Karlberg K. Biznes-analiz s pomoshch’yu Excel 2000. Moscow: Vil’yams, 2001. 480 p.

10. Van Khorn Dzheyms K., Vakhovich ml., Dzhon M. Osnovy finansovogo menedzhmenta. Moscow: OOO Vil’yams, 2008. 1232 p.