Accounting and analysis of economic risks of generation company

Any market activity is influenced by a significant uncertainty degree which causes a risk.Risk as a phenomenon includes numerous classification features, species and subspecies, due to which there are difficulties in developing a universally recognized and comprehensive approach to its classification. The theoretical aspect of risks is the foundation of a risk-management system that stands on three pillars: identification, assessment and leveling of the risk level significance. Nowadays there are many different approaches to assessing emerging risksincluding both qualitative methods and quantitative ones implying the use of mathematical, econometric models. However, this diversity leads to the absence of a clearly developed and universal assessment methodology as well as certainty in the ration of the methodology to the applied risk. A holistic approach to identifying risks, assessing and minimizing them both at the planning stage and during the business activities will provide both a high probability of the right decisions made by economic agents and third parties interested in the company effectiveness as well as the completeness and reliability of the information presented in financial and annual reporting of companies.