Glossary

Concise definitions of procurement, fixed asset, and audit terms used in Indian organisations. Each entry covers what the term means, how it is treated in the books, and the relevant CARO 2020 or Companies Act 2013 reference where applicable. For longer treatments and process walkthroughs, see Guides.

Write-Off vs Disposal

A write-off reduces an asset's book value to zero (no cash). A disposal is the physical removal of the asset (often generates proceeds). Definitions, comparison table, CARO 2020 audit treatment, and FAQ.