The book "Financial Risk and Models of its Measurement: Altman's Z-Score Review" by Ihor Kruchynenko offers a comprehensive analysis of risk classification, measurement, and management in financial institutions. It highlights the variety of credit risk measurement models available to modern banks and real economy players, and discusses the disagreement over their effectiveness, particularly in the context of the 2007 financial crisis. The theoretical part of the work provides an overview of common practices in risk measurement and examines the main types of risks that actors face in everyday life, with a particular focus on credit risk. In the practical section, the Altman Z-Score model is reconstructed and its accuracy is tested using data from two selected sectors in the United Kingdom. The main objectives of the book are to review the accuracy of the model and to conduct an econometric analysis of its specifications.