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.

Related Topics:
Accounting - Balance sheet - Goodwill - Asset - Income statement

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Compared to amortization and depreciation the write-off has the character of a "one-time" charge against P&L earnings.

Related Topics:
Amortization - Depreciation

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