Enterprise’s risks assessment in accounting

Economic Annals-ХХI: Volume 150, Issue 3-4(2), Pages: 67-70

Citation information:
Fomina, O., & Honcharenko, O. (2015). Enterprise’s risks assessment in accounting. Economic Annals-XXI, 3-4(2), 67-70. https://ea21journal.world/index.php/ea-v150-16/

Olena Fomina
PhD (Economics),
Associate Professor,
Kyiv National University of Trade and Economics
19 Kyoto Str., Kyiv, 02156, Ukraine
fomina504@mail.ru

Olena Honcharenko
Associate Professor,
Kyiv National University of Trade and Economics
19 Kyoto Str., Kyiv, 02156, Ukraine
honcharenkol@ukr.net

Enterprise’s risks assessment in accounting

Abstract. Introduction. The research is relevant due to the need of the theoretical and methodological aspects improving in accounting management, which is an important source of information for risk management.

Purpose. To establish and ground the need for the theoretical and methodological basis of accounting improvement in the area of information content while managing the risks of the enterprise.

Methods. To reach the goal set, we applied the method of financial mathematics, accounting, management accounting, and economic analysis.

Results. Critical analysis was performed on the interpretations of the concept of «risk» offered by various scholars and authors’ own interpretation of risk was proposed as an object of accounting, and basic conditions of its recognition were determined. Grounding on the study of managerial information needs and accounting system capabilities, the following classification criteria were offered: the factor that causes risks; the type of impact on the enterprise for managing purposes. A methodology of risk assessment has also been worked out. Its application will provide a generalized understanding of the risk factors impact on the enterprises.

Conclusion. The suggestions to promote risk management as a process of influence on economic entity have been made. It may provide the maximum coverage of a wide range of risks and usage a variety of methods to influence them in decision-making and execution, increase the level of impact on identified risks to acceptable limits.

Keywords: Risks; Accounting Risks; Risk Assessment; Risk Management; Management Reporting

JEL Classіfіcatіon: D81; G32; М41; M49

References

1. Bachkai, T., Messen D., & Miko, D. (1979). Economic risk and methods of its measuring. Moscow: Olimp-Biznes (in Russ.).
2. Kaplan, R., & Norton, D. (2005). Balance d system of indices. From strategy to action. Moscow: Olimp-Biznes (in Russ.).
3. Parmenter, D. (2007). Key Performance Indicators: Developing, Implementing and Using Winning KPI’s. New Jersey, USA: John Wiley & Sons, Inc.
4. Blank, I. A. (1999). Bases of financial management. Kyiv: Nik-Center (in Ukr.).
5. Boyko, O. P. (2013). Leisure is in society of risk. Multyversum. Filosofskiy almanakh (Multiversum. Philosophical Almanac), 1(99), 36-43 (in Ukr.).
6. Volosovich, S. V. (2013). Insurance of risks in credit sphere. Kyiv: KNUTE (in Ukr.).
7. Hranaturov, V. M. (2003). Analysis of enterprise’s risks: problems of determination, classification and quantitative estimations. Odesa: The Institute of Market Problems and Economic-Ecological Studies of the NAS of Ukraine (in Ukr.).
8. Hranica, Yu. V. (2012). Risk of economic activity’s conditional facts consequences forecasting: calculating and opening of information in accounting control. Mezhdunarodnyi bukhgalterskii uchet (International Record-Keeping), 37(325), 30-40 (in Russ.).
9. Mazaraki, A. A. (2010). Trade: history, civilization, moral. Kyiv: Book (in Ukr.).
10. Safonova, M. F., & Movchan, K. V. (2013). Methods of financially-economic activity risks management in organization. Mezhdunarodnyi bukhgalterskii uchet (International Record-Keeping), 29(275), 23-31 (in Russ.).
11. Smetanko, O. V. (2014). Improvement of process of authentication and reacting on risks by internal audit service. Economic Annals-XXI, 11-12, 135-139.
    Retrieved from https://ea21journal.world/index.php/ea-v146-34/ (in Ukr.)
12. Ustenko, O. L. (1997). Theory of economic risk. Kyiv: MAMP (in Ukr.).
13. Shapkin, A. S. (2003). Economic and financial risks. Estimation, management, investment portfolio. Moscow: Dashkov & K (in Russ.).
14. Tax Code of Ukraine (2010, December).
    Retrieved from http://zakon2.rada.gov.ua/laws/show/2755-17 (in Ukr.)
15. Kaminskiy, A. B. (2006). Design of financial risks. Kyiv: PH Kyiv University (in Ukr.).
16. Kipreeva, O. (2001). Making threats impossible. Methodical pre-conditions of risk management in agrarian production. Upravlencheskii uchet i biudzhetirovanie (Administrative Accounting and Budgeting)
    Retrieved from http://uchet.net.ua/index.php?idm=92&id=68&year=2011 (in Ukr.)
17. Plastun, V. L. (2008). Insurance of agricultural enterprises’ risks. Visnyk Sumskoho natsionalnoho agrarnoho universytetu. Seriya «Ekonomika i menedzhment» (Herald of Sumy National Agrarian University. Series «Economics and Management»), 12, 135-139 (in Ukr.).
18. Shtefanich, D. A. et al. (1999). In D. A. Shtefanich (Ed.). Risk Management at the enterprise. Ternopil: Economic idea (in Ukr.).
19. Stanislavchik, E. (2003). Risk-management as an instrument of company’s financial results control. Finansovaya gazeta (Financial Newspaper), 7, 13 (in Russ.).

Received 20.02.2015