The article examines the theoretical aspects of enterprise risk, which is a consequence of the instability of the operating environment. Under financial risk, the authors propose to understand a situation in which the probability of the deterioration of the company's financial condition increases as a result of losses, additional financial costs or losses. The effect of financial risk is damage, loss or overspending of financial resources. It is emphasized that a feature of financial risk, compared to other types of risks, is the measurability of its manifestation and predictability. Financial risk can be predicted by studying the dynamics of financial reporting indicators, taking into account the trends taking place in the external environment. Elements of risk, including financial risk, are summarized. They include the object and subject, factors and sources, causes and consequences of financial risk. The main types of external and internal financial risks are given and it is indicated how their consequences are reflected in the financial statements of the enterprise. External risks include inflation, interest, tax and currency risks. Internal risks include the risk of insolvency, the risk of deteriorating financial stability, credit risk, the risk of receiving losses, and investment risk. The concept of economic and financial risk is delineated, based on the types of enterprise activity defined in NR(S)A 1. The authors came to the conclusion that financial risk can be both a derivative of economic or investment risk, and an independent type of risk that arises when an enterprise carries out financial activities. Financial activity is associated with changes in the size and composition of equity and loan capital. It is emphasized that the instability of the functioning environment leads to manifestations of danger, which include uncertainty, uncertainty, threat and randomness. All of them can become causes of economic and financial risk.
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