Target Pretends Losses From Hackers Don't Count

It's as if Target's losses never happened, at least for fantasy-accounting purposes.

The practice of reporting corporate earnings while excluding the bad stuff has been out of control for years. It's common practice nowadays for U.S. companies to reveal their quarterly results both in the normal way, under generally accepted accounting principles, and on a nonstandard basis, using their own made-up accounting rules.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.