FINANCIAL RISK - INTEGRATING DETERMINANT OF THE ACCOUNTING MODEL

Claudia Nicoleta Guni ()
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Claudia Nicoleta Guni: Spiru Haret University

Management Strategies Journal, 2021, vol. 51, issue 1, 77-85

Abstract: Culture differences, business practices, political and regulatory structures, the legal system, currency values, local inflation rate, risk management, but also the method of taxation, all these influence both the way the business is managed and also the financial reporting in the world. Financial statements and other information are impossible to understand without an awareness of basic accounting principles and business culture. Accounting plays an important role in the risk management process. Based on the information provided by it, potential risks can be identified and the company's exposure to specific risks can be measured. The information provided by accounting is influenced by the adopted accounting model, the way of presenting them varying.

Keywords: financial risk; nonbusiness risk; business risk; operational risk (search for similar items in EconPapers)
JEL-codes: G3 G32 G34 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:brc:journl:v:51:y:2021:i:1:p:77-85

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