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 ?
Credit Suisse has reported a huge loss related to writedowns in Q4.
In his first public statements since he was named CEO, Aldemir Bendine said no decision had been taken on whether Petroleo Brasileiro, as the company is formally known, will book 88.6 billion reais ($31 billion) of potential asset writedowns outlined in notes to its unaudited third-quarter results in January.
Shares fell 2% as Shell said a range of factors, including hefty writedowns, were expected to see fourth quarter earnings plunge 70% and full year earnings drop 38%.
Shell expects to reveal writedowns of PS429m for the fourth quarter and PS1.7bn for the full year relating to its upstream business when it posts annual results on January 30.
BHP Billiton, Rio Tinto Group and Glencore are among producers cutting costs, selling assets and reducing spending as lower prices trim profits and force more than $60 billion of industry writedowns.
The owner of mines in Australia, Papua New Guinea, Indonesia and Ivory Coast, Newcrest, has suffered a record annual loss, primarily due to a fall in the gold price, reduced production and major writedowns.
London: BP returned to net profit in the second quarter, lifted by the absence of major writedowns, the British energy giant said yesterday.
It is part of the credibility to stick to the signals you have sent," Juncker told German radio Deutschlandfunk, referring to previous statements ruling out writedowns outside of Greece.
Falling profits in retail and investment banking left investors worried whether Credit Agricole is on the mend after the French bank took $4.6 billion of writedowns to try to draw a line under ill-fated deals.
The sharp drop in profit was a result of EUR396m in writedowns on the bank's holdings of Greek sovereign bonds as well as of impairment on goodwill in the amount of EUR737m, chiefly related to the lender's operations in Ukraine and Kazakhstan.
Summary: Unit is "only business that makes money"; Shuaa does not expect major writedowns in 2012; Plans to lay off another 70 staff
Alm Brand Bank was one of the sector players that were hit hard by the financial crisis and it continues to suffer from high writedowns on loans.