Reporting in risk-oriented startup company management

• Main Author: T.P. Barchak
• Format: Article
• Language: English
• Published: Zhytomyr Polytechnic State University 2009-12-01
• Series: Проблеми теорії та методології бухгалтерського обліку, контролю і аналізу
• Subjects: accounting; accounting for management; reporting; startup company; management reporting
• Online Access: http://pbo.ztu.edu.ua/article/view/195580/195956

A large number of risks is one of the main features of a startup company. Avoiding risks and minimizing their negative consequences is possible if there is a high-quality and complete information resource for the risk management purposes. The article identifies the directions of improvement of information support of risk-oriented management of a startup company, as well as the development of organizational and methodological provisions of the internal management reporting of the innovative enterprise on the main results of its activity in risk conditions. In order to improve the risk-oriented management of a startup company, the internal management reporting forms were developed (Management balance of the startup company; Management report on the profits and losses of the startup company; Risks of startup company business activity and costs incurred to minimize them; Analysis of changes in the cost of an innovative product after its improvement and the Working Capital Report of a startup company). Taking into account the specifics of innovative companies' activities in the suggested reporting will help to increase the efficiency of risk management of a startup company and optimize the cost component of the risk management system. Prospects for further research have identified the need to develop organizational and methodological support for the preparation of financial statements in terms of disclosure of information about the risks of innovative startup companies and their consequences, including the search for areas of improvement of the management report.