Study On Financial Risk Identification And Control Of LT Group

In recent years,China's tourism economy has grown rapidly,and the tourism industry has become a pillar industry,which has strategic significance in the development of the national economy.Against the background of the domestic economic downturn,the tourism industry still maintains this high growth rate,which not only brings new impetus to economic growth,but also brings new opportunities to local tourism enterprises.As the only tourism investment state-owned enterprise in County A,County LT Group has the rich tourism resources in the region.It should actively seize the wave of tourism development,develop and expand enterprises,and realize the appreciation and preservation of state-owned assets.Facing the new budget law and the new regulations on local government debt,LT Group transformed its financing platform in 2014 and began to implement its operations.However,after the substantive reform,the LT Group still bears the investment pressure of public welfare projects and the financing function of local government construction funds,which brings a huge financial burden and hidden risks to the group.Faced with the pressure of state-owned enterprises to reduce leverage,LT Group urgently needs to take measures to improve the capital structure,adjust corporate strategies,and reduce financial risksBased on the theory of financial risk management,this paper studies and compares the characteristics and scope of various types of financial risk identification methods.Based on the research results and cases of financial risk identification and control by domestic and foreign scholars,the Z-Score model and the efficacy coefficient method are selected for LT.The Group conducts overall financial risk identification and assessment,and specifically analyzes the financial risks faced by the company in fund-raising activities,investment activities,and operating activities based on the company's financial data and internal and external environments.It also proposes corresponding control measures to help the LT company improve the financial situation of the company.Based on the data model results and theoretical analysis,this article draws the following conclusions:(1)This paper uses the operable Z-Score model and the power factor method to identify and evaluate the financial risk of LT Group.These two methods are simpler than other models,and the results are accurate,and it is easy for small and medium-sized enterprises.(2)The overall risk assessment of the LT Group is as follows:In 2016,the financial risk of the LT Group was in a state of heavy alarm and the financial risk was high.In 201 7 and 2018,it was in a state of great police.The financial risk is very high.Need to be taken seriously by management.(3)LT Group's debt risk,profitability,asset quality,and operating growth all have significant risks.(4)large long-term debt to support investment project construction and financing costs High is the main source of risk of financing risks.Investment pressure is caused by heavy public welfare project investment pressures,major seasonal impacts on major scenic spots,and management's unscientific,rigorous,and unreasonable investment decisions.The main sources of risk are the slow investment in the scenic area,the poor sales promotion effect,and the ineffective control of costs.The main source of riskThe above research can provide suggestions for solving the problems of high financial risks and low economic benefits of LT Group,which is conducive to improving the economic performance of LT Group companies,promoting the appreciation and preservation of state-owned assets,facilitating the development of local tourism economy,and controlling local finance risk.Of course,the author's own academic level is limited,and there are still many deficiencies in this article.The last part of the paper puts forward the deficiencies of this research.