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    #1

    Technical term in accounting needed

    Hello,

    I wonder whether someone here would be able to help me find a correct technical term pertaining to covering a loss incurred by a company in an accounting year. More specifically, I'm thinking of a verb to replace 'cover' in the above context, as I'm sure it's not the right legal term.

    The expressions I have on my mind are the following:

    to compensate for the loss incurred
    to redeem the loss
    to remit the loss

    anything else?

    Any help greatly appreciated.

    TeeKay

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    #2

    Re: Technical term in accounting needed

    set off?

    • Member Info
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    #3

    Re: Technical term in accounting needed

    Thanks, Tdol. 'set off' is the verb I needed. (Why didn't I think of it?!)

    • Member Info
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    #4

    Re: Technical term in accounting needed

    It took me a bit of head-scratching to get there.

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