摘要：在全球市场竞争日益激烈的今天，加上市场的瞬变性和不可预见性,企业在追求利润的过程中必然会面临着承担一定的财务风险，企业想要在经济浪潮中站稳脚跟，就必须要重视财务风险的监测并建立风险预警机制。企业对财务风险进行监测并建立风险预警机制可以在企业风险和危机还未形成时，就提醒企业管理层,引起管理层的重视，在风险还未转化成财务危机之前就将其消灭在萌芽状态，从而使企业得以持续发展。本文以内蒙古伊利实业集团股份有限公司为例，在充分认识财务风险和财务风险表现形式的基础上，理清财务风险、财务危机与企业失败的关系，基于伊利集团最近三年的年度财务报告，采用Z-Score 模型计算分析该企业的风险指数，并根据计算结果对该企业财务风险进行评价，得出结论以及该模型的实用性分析。

关键词：财务风险Z-score模型风险预警

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