Comprehensive Opportunity and Lost Opportunity Control Model and Enterprise Risk Management

  • Akira Nishimura


The purpose of this chapter is to build a comprehensive opportunity and lost opportunity control (COLC) model through which contemporary management accounting can act in alignment with enterprise risk management, as well as to examine its managerial and socioeconomic functions in relation to risk management in the context of uncertainty in a global finance–oriented society. For this purpose, the chapter demonstrates the structure and characteristics of this model specifically in contrast with traditional and other control models that have been previously addressed for controlling the changes and diversity of business environments. The chapter can recognize from this demonstration that the accounting control system based on opportunity and lost opportunity control model has shifted its fundamental focus from feedback systems, profitability, and managerial control to feed-forward, value creation, and enterprise governance. This chapter also refers to the socioeconomic function that the model fulfills in the disclosure and transparency of the risk management process. These results lead to the conclusion that contemporary management accounting expands its short-term efficiency and company-centered effectiveness into long-term efficiency and social effectiveness.


Profit opportunity Risk Opportunity Lost opportunity Risk management report 


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Copyright information

© The Author(s) 2019

Authors and Affiliations

  • Akira Nishimura
    • 1
  1. 1.Beppu UniversityBeppu-cityJapan

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