How Companies Are Accounting for Covid-19

Some companies are adopting an innovative approach to accounting for the impact the coronavirus pandemic has had on their earnings: they’re leaving it out. At least eight borrowers have tweaked the figures in recent months to show investors how healthy their business would be if it weren’t for the damage wrought by Covid-19. Investors and market watchdogs have spoken out against the practice, warning that turning the commonly used Ebidta (earnings before interest, depreciation, taxes and amortiz