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Accountancy

What is written off in Accounts mean?

Dhakshana Dhakshana

CFA L2

★ 18K+

06-Sep-22 16:30

407

Answers (10)

Best Answer

Write off nothing but removing such item from books of accounts Generally we write off and such write off shall be regarded as loss

Thanusha Lakshmi

CA Final

★ 3K+

06-Sep-22 18:14

Removed from the books of accounts.

Avasarala Vivek Aditya

CA Inter

★ 6K+

06-Sep-22 16:33

A write off is an accounting action that reduces the value of an asset while simultaneously debiting a liabilities account.

polepalli deeraj

CA Final

★ 1K+

06-Sep-22 16:47

Write off means reduction in value of the asset

Anish

CA Inter

★ 215

06-Sep-22 16:50

Anish

Write off means reduction in value of the asset

Not necessarily an asset. Expenses also like Bad debts may be written off

Avasarala Vivek Aditya

CA Inter

★ 6K+

06-Sep-22 16:55

Avasarala Vivek Aditya

Not necessarily an asset. Expenses also like Bad debts may be written off

Got ittt

Thread Starter

Dhakshana Dhakshana

CFA L2

★ 18K+

06-Sep-22 16:56

Anish

Write off means reduction in value of the asset

Asset A/c is credited and Profit and Loss A/c is debited since it is kind of loss

Anish

CA Inter

★ 215

06-Sep-22 20:59

Avasarala Vivek Aditya

Not necessarily an asset. Expenses also like Bad debts may be written off

yesð???

Anish

CA Inter

★ 215

06-Sep-22 21:03

Avasarala Vivek Aditya

Not necessarily an asset. Expenses also like Bad debts may be written off

Well bad debts is writing off an amount from debtor (an asset)

CA Suraj Lakhotia

Admin

06-Sep-22 21:50

CA Suraj Lakhotia Admin

Well bad debts is writing off an amount from debtor (an asset)

Got it Sir. Thank you.

Avasarala Vivek Aditya

CA Inter

★ 6K+

07-Sep-22 09:40