9 billion writedown
on risky assets, which contributed to the first-half loss, had been a chastening experience.
The latest writedown
- $19 billion - was the biggest single subprime hit so far worldwide and came on top of $18.
Dougan said it is "hard to predict" if Credit Suisse will require further writedowns
Exhibit 1, page 59, shows a sophisticated postauditing system that monitors writedowns
(the blue shaded portions).
Pearson and Okubara (Accounting Horizons, March, 1987) point out that recent writeoffs related to restructurings have some special features: 1) the magnitude of the dollars involved; 2) a sudden spurt in the number of firms undergoing the process; and 3) partial writedowns
of assets remaining in use.
Funds from operations for the year ended December 31, 2007 included income from recoveries of previous writedowns
, gains from non real estate asset sales, and gains from loan payoffs totaling $25,736,000 or $.
According to some analysts, Goldman Sachs (NYSE :GS) had to accept losses because of the writedowns
it was forced to take in troubled Portuguese bank, Banco Espirito Santo SA, in the fourth quarter.
After a number of cost cutting efforts and asset writedowns
across its operations in the country, Vale, a Brazilian mining giant has decided to sell its coal mine in Queensland, Australia.
Banks are expected to recapitalise in a variety of ways after writedowns
resulting from a planned bond swap, which calls for a 53.
Hellenic Bank was the second Cypriot lender to report a full-year loss because of writedowns
on Greek holdings, after Bank of Cyprus last week posted a EUR1bn loss for 2011.
That clashes with several other countries' push for steeper writedowns
The debt crisis in Greece could trigger a need for writedowns
at German banks, German Economy Minister Rainer Bruederle said on Thursday.