MANAGEMENT ACCOUNTING BASED ON A RISK-ORIENTED APPROACH

Abstract

Introduction. In the context of increasing economic uncertainty and global competition, enterprises are exposed to significant risks that directly impact their financial stability and operational performance. Traditional  managerial accounting systems often lack the flexibility to address these risks effectively. As highlighted by recent research, a risk-oriented approach integrates analytical tools and methodologies into managerial accounting, enabling enterprises to proactively identify, assess, and  mitigate potential risks. This article explores the relevance of adopting a riskoriented approach within the framework of  managerial accounting, focusing on its ability to optimize decision-making processes, improve resource allocation, and enhance control mechanisms. Purpose. The primary objective of the study is to analyze and evaluate the integration of risk-oriented methodologies into managerial accounting systems, emphasizing their role in adapting enterprises to external challenges. The study aims to identify key methods of risk assessment and management, such as qualitative and quantitative risk analysis, anddemonstrate how these tools contribute to enhancing the flexibility and efficiency of managerial accounting. Additionally, the research seeks to outline practical applications of risk-oriented approaches in areas such as budgeting, cost control, and strategic planning. Results. The study identifies and examines critical methods of risk evaluation, including scenario planning, sensitivity analysis, and risk performance indicators, which are integral to modern managerial accounting systems. Case studies presented in the article illustrate how the adoption of these methods influences budget formation, facilitates efficientcost management, and supports data-driven strategic decisions. Furthermore, the results highlight the tangible benefits of a risk-oriented approach, such as reduced uncertainty, improved decision-making accuracy, and optimized resource utilization. However, the study also identifies challenges, including the necessity for advanced technological solutions and the involvement of highly skilled professionals, which can increase operational costs. Conclusions. The findings emphasize that integrating risk-oriented methodologies into managerial accounting systems is essential for navigating volatile economic landscapes. This approach enhances an enterprise’s ability to adapt to dynamic market conditions and achieve sustainable growth. The paper concludes by proposing directions for future research, including the development of sector-specific risk management tools, the exploration of innovative models for integrating risk management with strategic planning, and the advancement of digital  technologies for automating risk assessment processes. By addressing these areas, enterprises can strengthen their competitive advantages, optimize resource allocation, and ensure long-term financial stability in a rapidly changing environment.