APPLYING THE RISK MANAGEMENT AND FAILURE MODE AND EFFECTS ANALYSIS IN FINANCIAL ACCOUNTING. EVIDENCE FROM A ROMANIAN ACCOUNTING SERVICES COMPANY

A non-financial company's strategy deals with the alignment of the organization to its uncertain environment. The projected cash flows may change dramatically when company is exposed to environmental and organizational risks and uncertainties. The research tries to highlight how an accounting services company faces the risk and manage it, by proposing and applying the Failure Mode and Effects Analysis (FMEA) model for recording the transactions. What are the risks in the process of recording the daily transactions and how should be managed effectively and efficiently? In the same time, the goal of maximizing the shareholders' value through a coherent customer relationship management is taken into account. The methodology used in this paper has roots in portfolio management theory, which incorporates the risk and return inherent in different assets. Managing customer portfolio wisely, by creating a balanced portfolio and computing the risk and the return of it, may conduct to achieve the goal of maximizing the value of entity and shareholders alike.