April 2013
Beginner
672 pages
13h 22m
English
THE JURY IS OUT AS to whether risk management is an art, a science, or a process. We consider it to be a way of life, and a combination of an art and a science. In this chapter we introduce risk as a concept, defining and going through various ways in which it can impact the firm by focusing on the financial risk elements that come under the treasurer’s purview.
There are different elements of risk that you should know about. Here we discuss various categorisations of risk and some important considerations for managing risk.
The risk that we will be focusing on is the uncertainty associated with the financial performance of the company. Before we go ahead, there are some simple points to remember about financial risk.