Write-down (Of An Asset)

From LinkedAUB Collab
Jump to navigation Jump to search

Description

A reduction in the carrying amount of an asset because it has become obsolete or its usefulness has otherwise been impaired. Involves a credit to the appropriate asset account, with an offsetting debit to a loss account.

Concept Prerequisite

Wikipedia Reference

http://en.wikipedia.org/wiki/Write-off

Learning Material

Covered in Topic(s)

 
Inventories & the COGS