The problem of choosing analytical tools in risk management of bankruptcy

In the context of the global economic crisis, numerous risks have a significant and unpredictable impact on the financial position of each organization. The consequences of the influence of risks led to the onset of a period in the development of the economy, a characteristic feature of which is a sharp increase in the number of bankruptcies of economic entities. In this situation, the main rule for the stable functioning of the organization is a timely assessment of the factors affecting the occurrence of bankruptcy risk. However, with the variety of existing methods for assessing the probability of bankruptcy, the analyst faces the problem of choosing the most suitable method for a particular organization, taking into account industry characteristics. This fact determines the degree of relevance of developing a universal model for assessing bankruptcy risk. In this article, we have studied the existing approaches used to assess the risks of financial insolvency. The results of assessing the probability of bankruptcy of an organization using existing approaches are presented...