CHARGE-OFF
A company’s expenditure as indicated in its income statement, less net income. Generally speaking, firms estimate its charge-off expenses which might be incurred in the current time period based on its previous records. This will fall under of the following classifications:
- Debt considered uncollectible by the company and is subsequently written off. This will classified as bad debt expense on its income statement and will be excluded in the balance sheet.
- Possible one-time extraordinary expense a firm incurred which negatively affects earnings, resulting to writing-down some of its assets. Write-down emerges due to impairments of assets.
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