The world economy is rapidly developing, leading to constant updates and iterations in the environment, technology, and products, thereby exposing many companies to financial risks. Management accounting and ESG theory, as internal decision support tools, play a role in creating value and improving performance in enterprises. The article examines the functions of management accounting and ESG theories in dynamic monitoring mechanisms, based on basic research. Analyzing and predicting the financial status of Chinese A-share listed companies in 2020-2022 is achieved by proposing research hypotheses and designing measurement models and financial risk prediction models. The results show that management accounting and ESG compliance are important parts of the dynamic monitoring system. Because of this, big data statistics need to be used regularly to summarize, analyze, and find the root causes of problems found in the monitoring process and suggest solutions.