+7 495 989 9610, 9am6pm (GMT+3), Monday – Friday
ИД «Финансы и кредит»






Financial Analytics: Science and Experience

Formation of information base of financial risk controlling in agricultural organizations using the model of integrated financial risk assessment

Vol. 15, Iss. 1, MARCH 2022

Received: 27 September 2021

Received in revised form: 12 October 2021

Accepted: 30 October 2021

Available online: 28 February 2022


JEL Classification: G32

Pages: 4–22


Aleksandra S. BOBYLEVA Ulyanovsk State University (USU), Ulyanovsk, Russian Federation

ORCID id: not available

Svetlana Yu. MAKSIMOVA Ulyanovsk State University (USU), Ulyanovsk, Russian Federation

ORCID id: not available

Subject. The article describes the development of algorithm for implementation of a model for integrated assessment of financial risk in agricultural organizations.
Objectives. We aim at defining the integrated index of financial risk assessment, based on indicators of financial risk controlling, as a system of monitoring the risk factors in the financial activities of the organization, to create the informational base of financial risk controlling.
Methods. The study rests on methods of statistical analysis, namely representative sampling and grouping.
Results. The paper defines the integrated indicator of financial risk assessment on the basis of indicators of financial risk controlling and its parameters, in particular, the multi-factor indicator that includes the product of unilaterally directed values of indicators of return on sales, the share of current assets in total assets, the ratio of other income and other expenses. We determine an algorithm for implementing a model of integrated assessment of financial risk and updating the financial risk controlling.
Conclusions. High risks, including seasonal risks, and revenues from government budgets, influence the financial result of agricultural organizations. Non-core income and expenses have a significant impact on the final result, which should also be taken into account, when assessing the financial risk. Our conclusions are underpinned and confirmed by calculations. They can be used in strategic planning for funding sources and areas of financial resource distribution to mitigate the overall financial risk.

Keywords: financial risk controlling, financial risk, solvency, financial risk controlling indicator


  1. Yashina M.L., Antonova D.V. [A methodology to assess financial risks during company's credit policy formation]. Finansy i kredit = Finance and Credit, 2017, vol. 23, no. 11, pp. 620–635. (In Russ.) URL: Link
  2. Maksimova S.Yu., Fedotova M.A. [Industry-specific features and areas of mitigating financial risks of agricultural enterprises]. Finansovaya analitika: problemy i resheniya = Financial Analytics: Science and Experience, 2015, no. 26, pp. 12–21. URL: Link (In Russ.)
  3. Maksimova S.Yu., Lavrova E.E., Golubeva E.A. [The study of categorical apparatus and the determination of the nature and importance of financial risk]. Ekonomika i predprinimatel'stvo = Journal of Economy and Entrepreneurship, 2015, no. 12-2, pp. 1072–1077. (In Russ.)
  4. Bobyleva A.S. Metodologiya i mekhanizmy formirovaniya kompleksnoi finansovoi politiki razvitiya sel'skokhozyaistvennykh organizatsii: monografiya [Methodology and mechanisms for the formation of a comprehensive financial policy for |agricultural organizations development: a monograph]. Moscow, Kreativnaya ekonomika Publ., 2013, 416 p.
  5. Bobyleva A.S. [Nature and industry characteristics of finances of agricultural organizations]. Ekonomicheskie nauki = Economic Sciences, 2012, no. 97, pp. 49–52. URL: Link (In Russ.)
  6. Bobyleva A.S. [Industry characteristics, determining the specificity of organization of finance in agriculture]. Ekonomika i predprinimatel'stvo = Journal of Economy and Entrepreneurship, 2014, no. 12-3, pp. 811–816. (In Russ.)
  7. Kyurdzhiev S.P., Mambetova A.A., Peshkova E.P. [An integral evaluation of the financial state of the regional enterprises]. Ekonomika regiona = Economy of Region, 2016, vol. 12, no. 2, pp. 586–601. URL: Link (In Russ.)
  8. Karanina E.V. [Model integrated strategic risk analysis of industrial organizations with regional-industry factors]. Ekonomika i upravlenie: problemy, resheniya = Economics and Management: Problems, Solutions, 2014, no. 6, pp. 46–55. (In Russ.)
  9. Zhukovskaya I.V., Kagirova Z.F. [Structural and dynamic assessment of the level of financial risk at Gazprom Transgaz Kazan LLC]. Mikroekonomika = Microeconomics, 2015, no. 2, pp. 51–54. (In Russ.)
  10. Romantseva Yu.N., Skachkova S.A. [Statistical grouping as a way of evaluation of agricultural production placement]. Vestnik Tverskogo gosudarstvennogo universiteta. Ser.: Ekonomika i upravlenie, 2016, no. 2, pp. 207–213. URL: Link (In Russ.)
  11. Ivanova L.I., Bobyleva A.S. [Forming of informative base of estimation financial to independence of organization]. V mire nauchnykh otkrytii = In the World of Scientific Discoveries, 2013, no. 8, pp. 147–165. (In Russ.)
  12. Ktsoev A.B. [The impact of subsidies on the financial condition of agriculture]. Ekonomist, 2011, no. 10, pp. 91–96. (In Russ.)
  13. Plotnikov A.P., Shishlov R.A. [Integral criterion of enterprise management efficiency estimation with an allowance for risk]. Innovatsionnaya deyatel'nost' = Innovative Activity, 2017, no. 2, pp. 47–53. (In Russ.)
  14. Kolesnichenko E.A., Radyukova Ya.Yu., Sokolinskaya Yu.M. [Tools for identification of financial risks of the enterprise and direction of their minimization]. Modeli, sistemy, seti v ekonomike, tekhnike, prirode i obshchestve = Models, Systems, Networks in Economics, Technology, Nature and Society, 2020, no. 4, pp. 45–54. URL: Link (In Russ.)

View all articles of issue


ISSN 2311-8768 (Online)
ISSN 2073-4484 (Print)

Journal current issue

Vol. 15, Iss. 1
March 2022