A methodology for identifying and assessing financial risk in the company's management accounting system

Abstract

Subject. This article deals with the issues of identification and risk assessment within the framework of management accounting, focused on information intelligence and support of business management in the face of uncertainty. Objectives. The article aims to comprehensively investigate the existing methodological approaches and modern ways of assessing risks. The study also aims to develop a qualitatively new methodology for assessing a company's total financial risk based on the identification and analysis of the risk components that the company is exposed to. Methods. For the study, we used the methods of analysis and synthesis, comparison, grouping, as well as statistical, calculation, analytical, and expert assessment methods. Results. The article presents an original method of stepwise assessing the company's financial risks, based on a combination of expert and computational tools, enabling to obtain representative data in the conditions of limited resources. Conclusions and Relevance. The proposed method of assessing financial risk helps conduct a qualitative and quantitative assessment of the financial risks of the organization and can be applied in organizations of all forms of business and sectors of the economy. It does not require significant amounts of information about the company's activities or special hard-and software.