As a part of the management accounting system and function, managerial risk accounting has the following two main purposes: These purposes are achieved by providing respectively relevant information to improve the ability and willingness of the employees to achieve the organisations’s goals and objectives.
That is, a single accounting value is attributed to a specific object or purpose.
In contrast, risk and uncertainty are formally characterised by a whole range of possible values connected to an object.
As of now, no specialised comprehensive accounting system for the purpose of representing risk organisation wide in comparable terms has evolved.
These measures should also take into account behavioural and cognitive aspects of judgement and decision making under risk and uncertainty.