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حسابداری و مالی::
قرارداد بدهی
There is considerable debate surrounding the properties of accounting earnings that are desirable for use in debt covenants.
―if management believes that the credit agreement is a material agreement, that the covenant is a material term of the credit agreement and that information about the covenant is material to an investor's understanding of the company's financial condition and/or liquidity, then the company may be required to disclose the measure as calculated by the debt covenant as part of its MD&A.
(2009) examine a setting in which the role of the accounting based debt covenant is to allocate control rights between shareholders and lenders over the decision to liquidate or continue a project that has already been financed by the lenders.
While the theoretical work directly examines the optimal properties of earnings for writing debt covenants, in practice it may not be cost effective to derive a complete set of measurement rules
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