Differences between write-off and writedown?

Question

What is the differences between a wrife-off and a writedown in a corporation. I been seeing it a lot lately with all these financial institutions. Both of them seems the same to be which their assets are downsizing?

Answer 1

There a simple difference.  When you write off you eliminate the value of an asset.  When you writedown you reduce the asset in value.  The difference is all vs. some.