Business terms and jargon explained. Your business dictionary
What is Write-off
This is were an asset value is reduced to zero. This can be a fixed asset or a current asset. E.g a debtor can not pay and the amount is not recoverable. This amount is written off the balance sheet and charged in the profit and loss account.
Knowledge is the key to success. That is why we have gone to great lengths to get you these business terms, and to explain them in Plain English so it is very easy to understand. Getting the right understanding and knowing your business jargon will keep you informed among your peers.