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  • noun

Synonyms for write-off

(accounting) reduction in the book value of an asset

the act of cancelling from an account a bad debt or a worthless asset

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References in periodicals archive ?
Pubs were also affected by the downturn - Anglo Pubs Plc had six write-offs for four pubs in Golcar, FlocKton and HecKmondwiKe.
The insurer gave Cartell a sample of 5,430 vehicles that were classed as total write-offs in its files and unfit to be driven again.
b) Includes the write-offs and write-down of certain service contracts and special charges totalling $10.
This week alone I've had two people write to tell me that they did their phone checks and still managed to buy cars that owed finance or were repaired write-offs.
Clr David Hall, the council Cabinet member responsible for finance, said: "These write-offs are very small for an organisation Kirklees's size.
Factors causing gross profit to fall below this guidance range include an asset write-off and accounting for the company's recent QED acquisition as well as its third fiscal quarter purchase of a portfolio of CMP technology patents from IBM.
Excluding the write-off of goodwill, the Company's specialty textiles segment had operating income of $1.
The loss from discontinued operations was primarily the result of the following events: i) the bankruptcy and subsequent liquidation of C-B/Murray Corporation in November 1992 which resulted in a loss of $7,599,000 which included operating losses, the write-off of DRS' investment in and loans to C-B/Murray, a charge for guarantees of C-B/Murray debt, and related professional fees, and ii) operating losses and charges related to the April sale of Mandel-Kahn in the amount of $8,062,000 which included operating losses, the write-off of DRS' loans to Mandel-Kahn, and a reserve for guarantees by DRS of Mandel-Kahn debt.
The charge consists of write-offs of leasehold improvements and assets of $326,000; write-off of goodwill of $69,000; accrual for lease obligations of $1.
This write-off and the $9,800,000 write-off of Hong Kong related assets were the primary cause of the company's large fourth- quarter loss.
As a result, in December, GY renegotiated its contract with LMT causing a write-off of $169 million of inventory costs for the design and production of the motors produced under the original contract.
In addition, the Company also announced that it would write-off ten pre-development projects, and would take a charge of $71 million.
In comparison, before the write-off, the reserve account as a percentage of the Class A principal balance and the Class B principal balance equaled 14.
OTC: BBDC) today announced certain recent developments, including an update on the write-off of one portfolio company, the liquidation of its investments in other portfolio companies, the repayment of $6 million in BBDC's outstanding debt, the retirement of certain contingent liabilities and the filings of certain legal proceedings.
The losses resulted primarily from a decision to take a charge of $4,197,672 to write-off the capitalized value of the acquisition of Format Software GmbH, in Cologne, Germany, and associated expenses.