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c) to consider something a loss or failure
write-off = abschreiben (Geld, Verluste)
write-off = abhacken (fig.)
write-off: approximately 3,000,000 Google hits
The amount of money that banks WRITE-OFF on their credit cards doubled in the third quarter of the year.
Former CBS Radio head says "It is premature to WRITE-OFF terrestrial radio"
(www.radio-info.com - news headline)
Did you know?
- to accept that an amount of money has been lost or that a debt will not be paid
- (UK) to damage a vehicle so badly that it cannot be repaired
- an amount of money has been lost or a debt that will not be paid
- (UK) a vehicle so badly damaged that it cannot be repaired
(Cambridge Advanced Learner's Dictionary)
The term write-off comes from the field of accounting. It is a strategy that allows for the reduction in value of an asset or as a means of removing bad debt from the financial records of the business. The use of a write-off can help a company maintain a more accurate inventory of the worth of current assets.
Companies encounter situations where a client experiences financial hardship and is unable to pay for goods or services rendered. When it becomes clear that there is no chance of collecting on the outstanding invoice, it is advantageous (for tax purposes) for the company to write-off the amount of the invoice as a bad debt.
Write-off is also commonly used in a non-accounting or figurative sense, such as when someone or something has no chance for success:
- You can write-off that promotion. Bob already got the job.
- With so many players injured, I'm writing our team off for this season.
discount, disregard, forget
SMUGGLE OWAD into today's conversation
"In evaluating a company's worth, auditors will always ask which assets can be written off."
Today's Learning Tip (14):
MAKE AN ICON
Draw a personal symbol or icon to represent each new word. For instance draw a cloud to represent the word "rainmaker". Put this symbol on a Post-It note and say the word whenever you see the symbol.
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