Issue |
SHS Web Conf.
Volume 200, 2024
2024 International Conference on Sustainable Economy and Social Sciences (SESS 2024)
|
|
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Article Number | 01010 | |
Number of page(s) | 5 | |
Section | Sustainable Economy | |
DOI | https://doi.org/10.1051/shsconf/202420001010 | |
Published online | 31 October 2024 |
A Study on Financial Innovation and Risk Management Methods from an Accounting Perspective
Yantai University, Yantai, China
* Corresponding author: kasare@163.com
With the continuous development of global financial markets and rapid technological advances, a growing number of innovative products and services in the financial sector have emerged, providing new impetus to economic growth but at the same time bringing new risks. We study financial innovation and risk management methods from an accounting perspective, examining how accounting plays a key role in ensuring financial stability and transparency. First, this paper summarizes the definition and classification of financial innovation and analyzes its positive and negative effects on economic development. Second, our main focus is on the fundamental roles of accounting in risk management, which involve supplying financial data for decision-making, overseeing financial innovation and operational risks, and evaluating the efficiency of risk management actions. In addition, this paper discusses the risk management methods from the accounting perspective, such as improving the accuracy and transparency of financial reports, selecting and adjusting prudent accounting policies, strengthening internal control and external audit mechanisms, and improving the accuracy of asset and liability assessment. Enhancing accounting standards and regulatory frameworks to better align with the evolving trends in financial markets is recommended. Furthermore, we will strengthen the professional training of accounting personnel, improve the risk management capabilities of financial institutions, and promote the integration of accounting innovation and financial innovation.
© The Authors, published by EDP Sciences, 2024
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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