write-off

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Write-off

Charging an asset amount to expense or loss, such as through the use of depreciation and amortization of assets.

Write-Off

A reduction in an individual's or a company's income as the result of an expense. For example, an unpayable credit sale may be a write-off for the creditor, especially if the debtor declares bankruptcy. The bankruptcy means that the debtor is unable to pay the debt, which results in a loss of income for the creditor. A write-off may usually be deducted from one's taxable income.

write-off

To take an asset entirely off the books because it no longer has any value.If an accrualbasis taxpayer has taken money into income when bills were sent out to customers,but then some of the bills became uncollectible, the taxpayer may write off the uncollectible ones as a deduction against income. Financial institutions are required to write off loans when they become delinquent by a certain amount.

References in periodicals archive ?
4 million before tax and goodwill writedowns of pounds 69.
But the results came in below analyst estimates amid a sharp drop in profitability at the company's information technology arm and hefty goodwill writedowns.
15 per share when you consider the impact of both the restructuring and goodwill writedowns.
However the profits were flattered by the inclusion of large goodwill writedowns in the comparable period in 2001.
Fitch recognizes that negative tangible equity is common among insurance brokers, and Willis has a solid record of integrating acquisitions, which somewhat mitigates risk associated with goodwill writedowns.
3 billion fourth-quarter loss due to goodwill writedowns in its Internet Services Division, established the site with NBCUniversal, then a unit of General Electric Co.
The bank also reported goodwill writedowns of EUR392m in the quarter.
Finally, Creo has taken net investment, intangibles and goodwill writedowns of approximately US$328 million over the past five years.
Nearly pounds 200 million in exceptional costs, including goodwill writedowns, led to pre-tax losses of pounds 191.
The vessels cost the company Dh38 million in operating losses, goodwill writedowns of Dh36.
On the bottom line, we expect Severstal to post net income of $91 mln (up 38% QoQ), which could be significantly affected by one-offs, including forex losses and goodwill writedowns at overseas assets.