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.
References in periodicals archive ?
YTD 2005 2004 Variance % Change LTFD Corporation $1,247,390 $867,240 $380,150 44% Entertainment 1,506,665 1,535,285 (28,620) (2%) Hospitality 13,722 (93,724) 107,446 The negative variance in Entertainment is attributable to the bad debt writeoff while Hospitality improved measurably.
Since Gerstner's writeoffs, IBM shares have surged nearly 1,400 percent
3 billion for the ad company, so the writeoff indicates the acquisition has been a disaster.
While the writeoff can be fully absorbed by the general reserves held by Barnsley, the board has decided that the long term interests of its members would be best served by a merger with the Yorkshire.
Richard Dodd, of the British Retail Consortium, said: "The early Easter combined with the dismal weather was a writeoff for many shops.
You need to discuss your personalised plate when you first insure your car and your insurer must be aware that in the event of a writeoff, the vehicle must be available for inspection by the DVLA if you are transferring or retaining the number.
Studio took a big writeoff on its Jerry Bruckheimer pic "Bad Company," which grossed only $30.
The service has also saved more than 15,000 motorists from buying a used car that has proved to be an insurance writeoff and steered a further 43,000 away from buying a car saddled with outstanding finance.
2 million charge for amortization of excess reorganization value and writeoff of deferred financing fees of $5.
Only a fool would writeoff Brown, still this era's greatest political strategist, with an election as distant as June 2010 giving plenty of time to recover.
The two Disney films resulted in a second-quarter writeoff of $60 million-$70 million, which was conveniently offset by the earlier-than-expected recognition of $100 million in "Home Improvement" syndication sales.
Fortunately, no other vehicle hit her and she was only slightly injured, although her car is a writeoff.