write-off


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write-off

(rīt′ôf′, -ŏf′)
n. Accounting
1.
a. A cancellation of a worthless asset from a balance sheet.
b. The amount canceled or lost.
2. A downward adjustment in earnings or in the value of an asset on account of a loss or expense: a tax write-off for business expenses.

write′-off`



n.
1. a cancellation from the accounts as a loss.
2. a reduction in book value; depreciation.
3. a person or thing that is given up as hopeless or pointless.
[1745–55]
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.write-off - (accounting) reduction in the book value of an asset
accounting - a system that provides quantitative information about finances
wear and tear, depreciation - decrease in value of an asset due to obsolescence or use
deduction, tax deduction, tax write-off - a reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer's income bracket
2.write-off - the act of cancelling from an account a bad debt or a worthless asset
cancellation - the act of cancelling; calling off some arrangement
Translations

write-off

[ˈraɪtɒf] N
1. (= vehicle) → siniestro m total
his car was a complete write-offel coche fue declarado siniestro total, el coche quedó siniestro total
2. (Comm) → anulación f en libros, cancelación f en libros
3. (Fin) → cancelación f (de una deuda considerada incobrable)
he proposed a complete write-off of debtpropuso cancelar totalmente la deuda
4. (= disaster) → desastre m, fracaso m
the whole afternoon was a write-offla tarde entera fue un desastre or fracaso

write-off

[ˈraɪtˌɒf] n (Comm) → perdita (fig) (car) → rottame m
the car is a write-off → la macchina è ridotta ad un rottame
References in periodicals archive ?
He further said that many loan write-off cases were being proceeded in the banking and other courts for the settlement from many years.
ALMOST nine out of 10 (89 per cent) consumers are unaware that there has been a significant change to write-off categories - a significant discovery as we enter the peak period for secondhand car sales.
In 2012, Russia and Kyrgyzstan reached an intergovernmental agreement on a phased write-off of Kyrgyzstan's debt, which at that time amounted to $488.
CLOSE to 300,000 Australian small businesses have taken advantage of the Coalition Governments instant asset write-off according to 2015-16 tax office data, Minister for Small Business Michael McCormack says.
This could be the highest ever write-off in a five-year period in absolute terms as are the total stressed assets in the banking system," said Abhishek Bhattacharya, director and co-head for financial institution India Ratings.
For example, the risk of buying a write-off is three per cent higher in Liverpool, which has a population of around half a million, than in nearby Manchester, which has a population of 2.
For example, the risk of buying a write-off is 3 per cent higher in Liverpool, which has a population of around half a million, than in nearby Manchester, which has a population of 2.
LONDON is the write-off capital of Britain, closely followed by Birmingham, according to new figures from My Car Check which show that the risk of buying a previously written-off - but perfectly road legal - vehicle is much higher in some UK cities than others.
The banks and EVN Macedonia are prepared to apply for the contest of the Government for writing off the debts according to the Law on Debt Write-off.
Voropayev, resulted in an uncontrollable write-off of fuel at the plant, audit of the Electric Stations JSC from 1 July 2012 to 30 June 2013 by the Accounts Chamber of Kyrgyzstan found.
First with no write-off of the basis (amortization only) on the paid-in-fulls.
A significant write-off was defined as 50% or more of the goodwill from a purchase transaction occurring within three years of acquisition.