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 ?
The company is facing financial struggles and recently reported a half year loss of PS1.5bn, driven by a PS1.1bn goodwill writedown.
They were charged with market manipulation and submitting false or misleading information with regard to publishing an interim consolidated financial statement in November 2011, in which they omitted to include a goodwill writedown of e1/4330m for Marfin Popular Bank's -- asLaikiwas then known -- operations in Greece.
Key rating sensitivities that could lead to a downgrade of MKL's ratings include an operating EBIT coverage ratio sustained at 5.0x or below, any unexpected adverse developments from recent acquisitions, including a goodwill writedown or a material deterioration in underwriting performance, a decline in operating company surplus or shareholders' equity of 20% or greater, and FLR greater than 28%.
The company's problems with SBS are prompted by decreased viewership and an ensuing goodwill writedown.
The London-listed supermarket also took a Au495-million goodwill writedown for its operations in Poland, the Czech Republic and Turkey.
As a result of the goodwill writedown, EBIT amounted to -262.7 million euro, down by 174.6 million euro compared to 2011 (-88.1 million euro).
The quarterly score was also weakened by a goodwill writedown of HUF17.7bn at its units in Serbia, Croatia and Montenegro as well as by a HUF7.2bn special tax payment under a levy imposed by the government on financial entities for 2010 and 2011.
Net income was $149 mln, a big miss in comparison with the consensus's $294 mln; this was due to a $58 mln goodwill writedown from Maxi Group and an $88 mln loss from the NLMK-Duferco JV.
However, its dessert making and ready meals division, Brookes Avana, suffered a pounds 15m fall in trading profit and a pounds 125m goodwill writedown, which contributed to an overall pre-tax loss of pounds 98.3m for the group, compared with a pounds 41.8m profit previously.
Kroger executives said the goodwill writedown did not reflect a disappointing performance at Ralphs so much as a harsh economic environment in southern California.
The planned sale is expected to result in a capital loss of DKK135m and a goodwill writedown of DKK70m.