Analysis and Management of Accounting Fraud in Listed Companies——Thoughts Based on the GREENCOOL Case

Xiaowei Zhou,Yunyi Wang,J Li,K Chen,J Wu

doi:10.1051/e3sconf/202125302063

Abstract

With the continuous development of economic market, the importance of accounting information to listed companies is also increasing. However, at the same time, the phenomenon of accounting fraud is further deepened. This is a major blow to the smooth operation and further improvement of the world economy. Therefore, it is imperative to prevent and cure accounting fraud. This article analyzes the GREENCOOL case, agents the produces to the accounting fraud as the center, studies the cases of fraud methods and the reasons for the success of fraudsters, finally points out the harm it caused. It combines with the current economic situation in China, finds out the common environment accounting fraud, and puts forward targeted solutions to several key points. In the current environment, it has important practical significance.

Highlights

With the global economy grows faster, economic crimes have become increasingly rampant
It is no exaggeration to say that before the GREENCOOL case, Kelon Electric was a model in the industry and a benchmark for success
2.2 Introduction to GREENCOOL Accounting Fraud GREENCOOL is registered in the name of Gu Chujun, the company has been operating for ten years

Summary

Introduction

With the global economy grows faster, economic crimes have become increasingly rampant. In this general environment--Accounting fraud, the most prominent manifestation of economic problems, has almost peaked in recent years. Accounting fraud is not profitable by fictitious accounting business and creating false data. Many listed companies even acquiesce in this behavior in pursuit of illegal interests. It caused the loss of credit in our country's capital market, and seriously affected its economic status. This article mainly analyzes and thinks about the GREENCOOL case, finds out the signals and causes of accounting fraud, puts forward preventive measures, takes appropriate measures, and carries out timely prevention and treatment

Introduction of GREENCOOL Case

Motivation analysis

Abnormalities in Related Party Transactions

Accounting fraud prevention measures

Findings

Conclusion