By WILL KENTON

Reviewed by MARGARET JAMES

编写人：WILL KENTON

审核人：MARGARET JAMES

What Is a Write-Up?

什么是增记？

A write-up is an increase made to the book value of an asset because its carrying value is less than fair market value. A write-up generally occurs if a company is being acquired and its assets and liabilities are restated to fair market value, under the purchase method of M&A accounting. It may also occur if the initial value of the asset was not recorded properly, or if an earlier write-down in its value was too large. An asset write-up is the opposite of a write-down, and both are non-cash items.

增记是指由于资产的账面价值低于公允市场价值而对其账面价值进行增加。如果公司被收购，并且根据并购会计核算的购买法将其资产和负债重述为公允市场价值，则通常会进行增记。如果没有正确记录资产的初始价值，或者早期的价值减记过大，也可能会进行增记。资产增记与资产减记相反，两者都属于非现金项目。

Understanding Write-Ups

了解增记

Because a write-up impacts the balance sheet, the financial press does not report on more mundane instances of businesses initiating a write-up of asset values. In contrast, sizable write-downs do spark investor interest and make for better news cycles.

由于增记会对资产负债表产生影响，财经媒体不会报道有关企业增记资产价值的实例。相比之下，大幅减记的确能够激发投资者的兴趣，媒体也会争相报道。

Whereas a write-down is generally considered a red flag; a write-up is not considered a positive harbinger of future business prospects — since they're generally a one-time event.

减记通常被视为危险信号；增记并不被视为有关未来商业前景的积极预兆，因为增记通常是一次性事件。

During an asset write-up, special treatment for intangible assets and tax effects are considered. With an asset write-up, the deferred tax liability is generated from additional (future) depreciation expense.

在资产增记期间，会考虑无形资产的特殊处理和税收影响。通过资产增记，递延所得税负债由额外（未来）折旧费用产生。

Example of a Write-Up

增记示例

For example, assume Company A is acquiring Company B for $100 million, at which point the book value of Company B's net assets was $60 million. Before the acquisition can be completed, Company B's assets and liabilities have to be marked-to-market to determine their fair market value (FMV).

例如，假设A公司以1亿美元收购B公司，此时B公司净资产的账面价值为6000万美元。在收购完成之前，B公司的资产和负债必须按市值计价，以确定其公允市场价值。

If the FMV of Company B's assets is determined to be $85 million, the increase in their book value of $25 million represents a write-up. The difference of $15 million between the FMV of Company B's assets and the purchase price of $100 million, is booked as goodwill on Company A's balance sheet.

如果B公司资产的公允市场价值确定为8500万美元，则其账面价值增加2500万美元，即增记。B公司资产的公允市场价值与1亿美元的购买价格之间的差额为1500万美元，在A公司的资产负债表上记为商誉。