Political Risks and Their Assessment in Strategic Management Accounting

The aim of the article is to develop an approach to the definition of the political risk in the system of strategic management of the company, representation the set of properties of political risk, in terms of its nature and factors of influence. It highlights the main aspects of the impact of political risk on strategic decision-making in the system of integrated management of business entities. It substantiates the importance of timely risk assessment and management, taking appropriate preventive measures to avoid finance losses. For practical purposes of the political risk assessment the key indicators of its assessment are identified with regard to the objectives of strategic management. The stages of assessment of political risk are considered and the possibility of using the main political risk management methods are analyzed. According to the authors, the represented benefits of strategic management accounting are the basis for the formation of modern accounting concepts aimed at ensuring effective management decisions and create sustainable competitive advantages.