Research On Financial Risk Identification And Control Of Kaiyuan Education Limited Company Based On Z-score Model

In recent years,with the continuous strengthening and improvement of the state’s supervision on the education and training industry,the overall pain of the industry has been triggered.At the same time,affected by the epidemic,online education and training has become the mainstream,the offline education and training mode has been seriously impacted.How to change the business development mode of traditional education and training enterprises has become an urgent problem to be solved.In the face of fierce market competition and changes in the external environment,the operation of traditional education and training enterprises has been impacted to a certain extent,especially the financial problems have gradually become prominent,which has brought great risks to the normal operation of enterprises.Therefore,for traditional education and training enterprises,in order to achieve sustainable and healthy development,they must pay attention to and strengthen the financial risk control in the operation process.Based on the current situation and basic theory of financial risk research,taking Kaiyuan education as the research object,this paper studies the financial risk of meta education with the help of Z-score Model by using the methods of literature research,quantitative research and comparative analysis.Firstly,it combs the research conclusions of domestic and foreign scholars on financial risk,financial risk control,crisis management theory,economic early warning theory and capital structure theory.Secondly,it expounds the financial risk situation of vocational education industry and the basic situation of Kaiyuan education and training company,and analyzes the main financial situation of the company from four aspects: financing,investment,operation and income distribution.Thirdly,according to the financial data of Kaiyuan education from 2016 to 2020,the financial position Z value of Kaiyuan education is calculated based on the adjusted Z-score Model,The results show that the financial Z value of Kaiyuan education has shown a decreasing trend in recent five years.In 2017,the company’s Z value fell from 3.5754 to 1.5726,from "safe area" to "gray area";In2019,the company’s financial risk Z value has been falling from the "grey area" to the "bankruptcy area",and has been decreasing year by year.The Z value in 2019 is-0.628,while it is even-5.9054 in 2020.The financial Z value in 2016-2018 is fair,but it is in the "dangerous enterprise" in 2019-2020.Finally,according to the analysis of financial risk factors of Kaiyuan education,this paper puts forward countermeasures and suggestions for financial risk control of Kaiyuan education from the aspects of reasonably optimizing financing structure,carefully selecting investment projects,strengthening internal operation mechanism,optimizing profit distribution mode and cultivating risk awareness of financial personnel.Through the analysis of financial risk of Kaiyuan education,this paper hopes to provide corresponding decision-making reference for Kaiyuan education and other companies in the same industry to strengthen financial risk control.