FEATURES OF RECOGNITION AND RISK ASSESSMENTS FOR ITS ACCOUNTING
Abstract
The article describes the characteristics of risks, approaches to their classification and the possibility of improvement for accounting, analysis, reporting in order to optimize the management system and results of activities. In the process of researching the nature of risks, the focus is on the need to treat the risk not simply as one of the negative factors affecting the economic process that results in loss, but as a factor that can provide unplanned high profits, new prospects for development and cooperation. Since it is not possible to accurately determine the outcome before the completion of a risky operation, it is necessary to assess all the risk factors and uncertainties inherent in the business transaction or the process as a whole. A comprehensive risk assessment and uncertainty analysis to counteract the negative impact is possible due to accounting and reporting information covering quantitative and qualitative risk indicators, their impact on assets, income, expenses and financial results. Particular attention is paid to the need to evaluate different types of risk as one of the main factors influencing financial results. The accounting and reporting system is regarded as an integral part of risk management, which aims to maximize profitability with the optimal value for money invested; income and risk. Considering the nature of the risk, it is necessary to distinguish between the risk of conducting business operations, the risk in the accounting sphere and the risk of the control system. The specificity of accounting risk is manifested in the fact that it can be considered as a separate economic phenomenon, can be measured and evaluated; it has a specific form associated with a particular accounting entity (assets, liabilities, financial results); it is an integral element of financial and economic relations; it implies uncertainty of the situation in which a decision is made to carry out an economic activity. The differentiation of risks and their detailed classification are necessary for the rational organization of management, because accounting risks can be predicted at the stage of accounting organization. The principle of neutrality must be followed when choosing the types of accounting for risk and uncertainty.
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