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Copyrights The wordgames anagrams, crossword, Lettris and Boggle are provided by Memodata. Translation Change the target language to find translations. During the financial crisis , the drop in the market value of assets on the balance sheets of financial institutions forced them to raise capital to meet minimum capital obligations. Accounts that are most likely to be written down are a company's goodwill, accounts receivable and long-term assets like property, plant and equipment.
Write-downs are common in businesses that produce or sell goods have lots of inventory that can become damaged or unsalable. For example, technology and automobile inventories can lose value rapidly, if they go unsold or new updated models replace them.
Property, plant and equipment may become impaired because it has become obsolete, damaged beyond repair or property prices have fallen below the historical cost.
In the service sector, companies may write down the value of stores if they no longer serve their purpose and need to be revamped. Before , goodwill was amortized over 40 years, much the way a piece of equipment might be depreciated over its useful life. But under new generally accepted accounting principles GAAP rules for the measurement and disclosure of fair value, goodwill is amortized on a straight-line basis over a period not to exceed 10 years, and must be written down at any time if its value declines — for example, if it turns out that a company has overpaid for an acquisition.
Assets are said to be impaired when their net carrying value is greater than the future un-discounted cash flow that these assets can provide or be sold for. Under GAAP, impaired assets must be recognized once it is evident this book value cannot be recovered. Once impaired, the asset can be written down — if the asset remains in use — or classified as an asset for sale, which will be disposed of or abandoned.
The disposition decision differs from a write-down because once a company classifies impaired assets as assets for sale or abandonment, they are no longer expected to contribute to ongoing operations.
For more on impairment recognition and measurement, read How do businesses determine if an asset may be impaired?
A write-down impacts the income statement and the balance sheet. A loss is reported on the income statement — which is not tax deductible unless the affected assets are disposed of — and the asset's carrying value on the balance sheet is written down to fair value.
That said, an impairment usually creates a deferred tax asset on the balance sheet. If the write-down is small, it may be reported as a cost of goods sold COGS.
"Write down,' insults the commission,'" said the General, boiling with rage. I arose, and proceeded to write down the sad history of the night. "I will write down his address for you, when I go in," said he.
Steve was writing down figures, adding them and making notations. "Bobby Livingston," said the Colonel, writing down the name on his list. He was writing down the names of the men as they were hired.
23 synonyms of write down from the Merriam-Webster Thesaurus, plus 25 related words, definitions, and antonyms. Find another word for write down. to diminish the price or value of Synonyms: attenuate, break, cheapen. Letter Ruling () permitted a plan sponsor to write down ESOP loans and amend the plan to permit stock distributions from the suspense account more quickly without treating the write-down as a deduction under Sec.
Synonyms for write-down This thesaurus page is about all possible synonyms, equivalent, same meaning and similar words for the term write-down. Princeton's WordNet ( / 0 votes) Rate these synonyms: write-off, write-down (verb) (accounting) reduction in the book value of an asset. Synonyms for writing down: decry, depress, cheapen, fall, downgrade, write down, deteriorate, drop, decrease, underrate, diminish, undervalue, reduce, deflate, worsen.