disregard an outstanding debt (as of a customer); consider worthless; make a reduction in a value for accounting purposes
cancellation from an account of a worthless asset (Finance); something which is entirely useless
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Write-off Definition from Language, Idioms & Slang Dictionaries & Glossaries
write off
v
1. concede the loss or worthlessness of something or somebody
2. write something fluently, and without hesitation
3. cancel (a debt)
4. reduce the estimated value of something; "for tax purposes you can write off the laser printer"
remove from a business record, cancel a debt It was impossible for the bank to collect the money so they were forced to write off the loan.
1. not able to get fixed (after a crash); 2. consider as dead; 3. something irreparably damaged, as an aircraft, car, etc.; 4. person who is incapacitated through drunkenness, injury, etc.; 5. incompetent person; no-hoper
1. get very drunk; 2. have a motor accident; 3. give a poor account of oneself
Verb
1. concede the loss or worthlessness of something or somebody; "write it off as a loss"
(hypernym) admit, acknowledge
2. write something fluently, and without hesitation
(hypernym) write, compose, pen, indite
3. cancel (a debt)
(hypernym) cancel, strike down
(derivation) write-off
4. reduce the estimated value of something; "For tax purposes you can write off the laser printer"
(synonym) write down
(hypernym) depreciate
(derivation) write-off, write-down
Noun
1. (accounting) reduction in the book value of an asset
(synonym) write-down
(hypernym) depreciation, wear and tear
(hyponym) tax write-off, tax deduction, deduction
(derivation) write off, write down
(classification) accounting
2. the act of cancelling from an account a bad debt or a worthless asset
(hypernym) cancellation
(derivation) write off
Write-off Definition from Business & Finance Dictionaries & Glossaries
Charging an asset amount to expense or loss, for example through the use of depreciation and amortization of assets.
Copyright © 2000, Campbell R. Harvey. All Rights Reserved.
An adjustment to the value of loans recorded in the balance sheets of MFIs. A loan is written off when it is considered to be totally unrecoverable, and is removed from the balance sheet.
See also:
write-down
Copyright © 2006, European Central Bank, Frankfurt am Main, Germany. This information may be obtained free of charge through the ECB's website.See also:
write-down
Write-off Definition from Encyclopedia Dictionaries & Glossaries
The term written-off describes a reduction in recognized value. In accounting terminology, it refers to recognition of the reduced or zero value of an asset. In income tax statements, it refers to a reduction of taxable income as recognition of certain expenses required to produce the income. Write-off is also used in vehicle insurance to describe a vehicle which is cheaper to replace than to repair, sometimes colloquially referred to as being "totaled" (a total loss).
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