Write-off
In accounting, writing off is the expensing of a balance sheet asset (item) that has no future benefits. An example would be the writing off of goodwill. That is, the worthless asset will be recorded as an expense on the current period's income statement rather than keeping it on the balance sheet as an asset. ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ Compared to amortization and depreciation the write-off has the character of a "one-time" charge against P&L earnings. ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ Similar to a write off is a write down. This is a partial write off. Only part of the value of the asset is removed from the balance sheet. ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ Compare with
Accounting: REDIRECT Accountancy... Balance sheet: In formal bookkeeping and accounting, a balance sheet is a statement of the book value of a business or other organization or person at a particular date, usually at the end of its "fiscal year," as distinct from an income statement, also known as a statement of profit and loss (P&L), which records ... Goodwill: For the article about the charity: see Goodwill Industries.... Write-off related Images and Photos (experimental) | ~ Table of Content ~
~ Related Subjects ~Income statement (2) - Formal bookkeeping and accounting (1) - Depreciation (1) - Financial statements (1) - Statement of profit and loss (1) - Fiscal year (1) - Balance sheet (1) - Accounting (1) - Goodwill (1) - Amortization (1) - Asset (1) -~ Community ~
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