Fixed Asset Disposals and Write offs?

Question

Can someone please explain to me the difference between the two?

Answer 1

In addition to the previous answer fixed asset write-offs can occur when an asset fails to pass a test for valuation (lower market/cost and PV of projected future cash flows). For example a patent can be carried as a fixed asset. I am certain Motorola had several patents on pager technologies that are currently obsolete and likely to produce no future benefit. Since the PV of projected future cash-flows is worth less than the carrying value of said patents, they must be written off to a new value (or in this case 0). Similarly obsolete manufacturing equipment, PP&E that fails to last as long as its original projected useful life, and PP&E that becomes materially damaged must be written off. One fixed assett class that is particularly succeptable to writeoffs is goodwill, write-offs are the only way impairment in this assett is recognized!

Answer 2

Fixed asset, also known as property, plant, and equipment (PP&E), is a term used in accountancy for assets and property which cannot easily be converted into cash. This can be compared with current assets such as cash or bank accounts, which are described as liquid assets. In most cases, only tangible assets are referred to as fixed.

Fixed Asset Disposals is the liquidation of the fixed assets.

Write offs are used to cancel receivables that are uncollectable, otherwise know as bad debts.

Answer 3

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