Write Offs in Accounting | Definition | Examples
Автор: WallStreetMojo
Загружено: 2019-06-05
Просмотров: 25396
Описание:
In this video on Write Offs in Accounting, here we discuss what are Write-Offs their examples, accounting and why they are performed. Here we also discuss write-offs in banks along with practical examples.
𝐖𝐡𝐚𝐭 𝐢𝐬 𝐖𝐫𝐢𝐭𝐞 𝐎𝐟𝐟𝐬?
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Write-Off occurs when an asset's recorded book value is lowered to zero. This usually occurs when the firm's assets cannot be liquidated and are of no further use to the company or have no market value.
𝐄𝐱𝐚𝐦𝐩𝐥𝐞𝐬 𝐨𝐟 𝐖𝐫𝐢𝐭𝐞 𝐎𝐟𝐟𝐬
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1 - Bad Debt
2 - Asset Write-Offs
3 - Accounts Receivables
4 - Inventory
5 - Advanced Pay
𝐖𝐡𝐲 𝐖𝐫𝐢𝐭𝐞-𝐎𝐟𝐟 𝐢𝐬 𝐝𝐨𝐧𝐞?
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#1 - It provides asset owners with tax savings choices.
#2 - It supports the goals of a write-off accounting accuracy.
To know more about 𝐖𝐫𝐢𝐭𝐞 𝐎𝐟𝐟𝐬, you can go to this 𝐥𝐢𝐧𝐤 𝐡𝐞𝐫𝐞:- https://www.wallstreetmojo.com/write-...
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