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Journal Of Business Finance And Accounting
To meet this mission, the Business Finance Center offers financing and counseling to companies looking for to grow and create jobs. For inquiries related to this message please contact our support group and supply the reference ID under. Each problem features articles that emphasize innovative options to issues that at present confront practitioners. Students retain full autonomy with respect to choice, editing, and publication of articles. Furthermore, members of SJLBF are encouraged to assume both editorial and business duties. Consequently, members benefit from direct experience in operating a business along with vigorous training in legal analysis and writing.
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China says to penalise Luckin Coffee for accounting fraud
BEIJING (Reuters) – Chinese regulators said they would penalise Luckin Coffee after confirming accounting fraud that has already forced the company to delist from the U.S. Nasdaq exchange.
The Ministry of Finance, which began an investigation into Luckin Coffee (China) and Luckin Coffee (Beijing) in early May, found Luckin booked 2.25 billion yuan ($322.60 million) of sales through fake coupons from April 2019 to the end of last year, it said in a statement on its website on Friday.
It also found Luckin inflated sales by 2.12 billion yuan klik disini during the period, while costs were inflated by 1.2
Former Wirecard CEO Markus Braun was arrested for a 2nd time in relation to the company’s $2 billion accounting scandal
Reuters
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Wirecard’s former chief executive Markus Braun has been rearrested in Munich as German prosecutors dug deeper into allegations of fraud at the fintech firm.
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Two other executives — revealed by the Financial Times as Wirecard’s former finance boss, Burkhard Ley, and Stephan von Erffa, ex-head of accounting — were also arrested.
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Former chief operating officer, Jan Marsalek, has likely escaped to Russia with the “clear help of Russian intelligence,” two officials told Business Insider.
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Wirecard filed for insolvency a month ago soon after revealing an amount of 1.9 billion euros ($2 billion) was missing