Four major approaches to financial analysis can be defined. Traditional, Ultra -Traditional, modern and postmodern approach. In the novel theory of business resilience system, in measuring financial risks or otherwise, conditions are provided that by comprehensiveness a
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Four major approaches to financial analysis can be defined. Traditional, Ultra -Traditional, modern and postmodern approach. In the novel theory of business resilience system, in measuring financial risks or otherwise, conditions are provided that by comprehensiveness and also considering the rule of contingency paradigm, the possibility of measuring financial indicators and other cases on a case-by-case basis. Or comprehensive, be provided. Or comprehensive, be provided. Statistical data of listed companies in the period 1390 to 1398 were used. In this study, using different methods based on innovative financial instruments, the power of these instruments in estimating financial distress, traditional, ultra -Traditional, modern and postmodern perspectives are compared. Finally, it was found that the financial engineering method, relying on the theory of business resilience system in determining financial distress, reduces the fluctuation of the estimate and increases the accuracy of the estimate of financial distress. Of course, along with new methods, traditional methods should always be considered as indicators to determine the extent of financial distress and for comparison.
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