writeoff


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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.

writeoff

A reduction to zero in the value of an asset carried on a firm's financial statement. Companies often hesitate to make writeoffs because profits reported to stockholders are reduced.
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The improvement in Alabama bingo revenue and income is a welcome addition but it is offset by the writeoff of bad debt associated primarily with Texas bingo halls.
Littlefield Corporation Announces Fifth Consecutive Quarter of Substantially Improved Earnings
EBITDA for the 2000 quarter excludes the debt refinancing cost writeoff.
Vialog Reports Record Results For Third Quarter, First Nine Months of 2000
Excluding the noncash charges for goodwill impairment and debt cost writeoff, and the effect of divested units not included in discontinued operations, net income from ongoing operations was $2,126,000 or $0.
Comfort Systems USA Reports Fourth Quarter and Full Year Results; Same Store Quarterly Revenues and Operating Income Increase; Strong Cash Flow and Record Low Debt
In addition, it will reduce certain non cash charges to the income statement due to the writeoff of debt discount and deferred financing costs which were approximately $1.
AuthentiDate Holding Corp. Announces Conversion of Debentures for Common Stock and the Reduction of Expenses
Later that day, while reviewing the analytical procedures, I noticed that the accounts receivable writeoff percentages at the branch location were much higher than those of the main store.
The CPA as fraud-buster
Hallman said, "Equifax's operating income margin, before the asset writeoff, for the second quarter was 16.
EQUIFAX EARNINGS SET SECOND QUARTER RECORD; EARNINGS PER SHARE GROW 22%
Although CATIC's operating revenue in 2002 was solid due to a favorable residential real estate market climate and continued low interest rates, operating income was depressed by the escrow discrepancy writeoff.
Fitch Affirms Connecticut Attorneys Title Insurance Company At 'A-'
Depending on grouping, unrealized gains of some assets could offset unrealized losses of others, resulting in no required writeoff.
Impaired assets: meeting users' information needs
The Company's gross margin for the quarter was 66%, compared to 57% for the second quarter of 2001 (excluding writeoffs as detailed in the Company's 2001 reports).
RADCOM Reports Results for the Second Quarter and First Half of 2002
The Task Force also reached a consensus that a writeoff of a preexisting deferred tax asset that an entity can no longer realize as a result of a transaction among or with its shareholders similarly should be charged to the income statement.
Financial accounting: EITF update
s vice president and controller said the charge is to provide for the writeoff of goodwill capitalized as a result of the merger of VCS Industries, Inc.
VCS TO TAKE SPECIAL CHARGE IN FOURTH QUARTER
Footnote To Condensed Consolidated Statements of Operations (Thousands except per share amounts) (Unaudited) (A) Proforma diluted net income (loss) per share calculations exclude the financial statement impact of the writeoff of purchased research and development related to the acquisition of Elastic Networks, Inc.
Paradyne Reports Strong First Quarter 2002 Results; Exceeds Earnings Expectations and Continues to Improve Cash Position

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