As one of the important means for enterprises to carry out accrual earnings management activities, which mainly relate to the adjustment of accounting estimates and the use of accounting policies to make the values of relevant accounting subjects meet the needs of enterprise managers and reach other stakeholders expectations. This paper empirically examines the relationship between changes in monetary policy and corporate accrual earnings management activities, by taking A-share companies from 2010 to 2020 in Shanghai and Shenzhen stock markets as the sample, and by classifying accrual earnings management activities into positive and negative, it more accurately captures the choice of accrual earnings management activities that companies tend to adopt in different periods. At the same time, this paper also analyzes the influence of ownership attributes on the management behavior of companies' accrual earnings management under different monetary policies from two aspects: state and non-state. By studying the influence of monetary policy on corporate accrual earnings adjustment, this dissertation is not only a supplement to previous researches on earnings management and monetary policy, but also points out new ideas for future research.