摘要：在全球市場競爭日益激烈的今天，加上市場的瞬變性和不可預見性,企業在追求利潤的過程中必然會面臨著承擔一定的財務風險，企業想要在經濟浪潮中站穩腳跟，就必須要重視財務風險的監測并建立風險預警機制。企業對財務風險進行監測并建立風險預警機制可以在企業風險和危機還未形成時，就提醒企業管理層,引起管理層的重視，在風險還未轉化成財務危機之前就將其消滅在萌芽狀態，從而使企業得以持續發展。本文以內蒙古伊利實業集團股份有限公司為例，在充分認識財務風險和財務風險表現形式的基礎上，理清財務風險、財務危機與企業失敗的關系，基于伊利集團最近三年的年度財務報告，采用Z-Score 模型計算分析該企業的風險指數，并根據計算結果對該企業財務風險進行評價，得出結論以及該模型的實用性分析。

關鍵詞：財務風險Z-score模型風險預警

Abstract: In an increasinglycompetitive global market today with the Marketthat is transient and unpredictable, enterpriseswillinevitably face bear certain financial risks in pursuit of profits, the enterprise wants to stand firm in the economic tide, monitoring must attach importance to the financial risk and establish the risk early warning mechanism. Before risk has not yet been translated into financial crisis will be nipped in the bud, so that enterprises continue to develop. In this paper, the Inner Mongolia Yili Industrial Group Limited by Share Ltd as an example, based on the full understanding of financial risk, financial risk form, to clarify the relationship between the financial crisis and the failure of enterprises, financial risk, the Yili Group in recent three years, the annual financial report based on the Z-Score model，the calculation and analysis of the enterprise risk index, and according to the results of the financial risk the enterprise evaluation, the conclusion and the practicability of the model analysis.

Key words:Financialrisk  modelof Z-Scoreriskearly warning