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 ?
A downward trend for write-offs sees this year's write-off represent 1.3% of all debt.
According to details handed over by the State Bank of Pakistan to the ECP, the couple used political influence to get loans from different banks and later write-off. The sources said that former speaker Dr Fahmida Mirza and former interior minister of Sindh Zulfiqar Mirza are contesting the upcoming elections from NA-230 and NAPS-74 respectively.
The 'Commission on Written-Off Loans' in its report had intended to examine all cases in detail individually, hear and examine various stakeholders, the beneficiaries of the write-off, seek further information/clarifications/documents from the banks, invite suggestions from the general public and then to submit the final report.
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.
"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 2.5 million.
"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 2.5 million.
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.
(1) Most states recognize the collateral source rule; however, states approach this rule differently in a health care provider write-off framework.
One account had PS47,119 outstanding Renfrewshire Council has been forced to write-off nearly PS200,000 of debts after admitting defeat in claiming back the cash.