What does write off mean?

Looking for the meaning or definition of the word write off? Here's what it means.

Verb (accounting) To reduce an asset's book value to zero. (accounting) To record an expenditure as an expense. (accounting) To remove a portion of a debt or an amount of an account owed, counting it as a loss (as a gesture of goodwill for example). (accounting) To record a notional expense such as amortization or depreciation. Figuratively, to assign a low value to something. Find more words! 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You never can write off a team quarterbacked by Brett Favre, but you have to wonder whether Green Bay's window of opportunity is closing. Indeed I don't think any of us emerged with any credit on a day which we will have to write off as a bad experience all round. The critics and the knockers were out in force to quickly write off their chances. Yet those who might write off the Commonwealth and European medallist have short memories. And you dare not write off people who pen moaning letters to parish newsletters or local papers as cantankerous curmudgeons. See Also What is another word for write off? What is the opposite of write off? Sentences with the word write off Words that rhyme with write off What is the past tense of write off? Translations for write off Nearby Definitions writeoff write-ins writeing write-in write in write home about write-off writeoffs write-offs write once write one's own ticket write-only