What is the function of an aromatic ring?

Panasonic TM700 multi-function ring.?

I'm looking at upgrading my JVC MG330A to a much better quality camera which provides the likes of an accessory shoe for external microphones, an electronic viewfinder, etc. Right now I'm thinking that I will purchase the Panasonic TM700 (alternate models: SD700 and HDC700), but I have one question that I can't find the answer to anywhere... What functions is the multi-function ring (the ring on the end of the lens) used for? Does it just control aperture and shutter? Or does it control anything else? Thank you in advance.
Answer:

Download and rad the camcorder's manual. http://www2.panasonic.com/consumer-electronics/support/Cameras-Camcorders/Camcorders/Hi-Def-Camcorders/model.HDC-TM700K Using the multi-function ring starts on page 82.

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