zaudjumus

Zaudjumus is a Latvian term used mainly in economics, accounting, insurance, and law to describe negative outcomes that reduce wealth or resources. It denotes a decrease in value or a deficit resulting from events or decisions. The concept covers both financial losses and non-financial consequences such as reputational damage or lost opportunities. In business reporting, losses occur when expenses exceed revenue or when asset values fall below their carrying amounts, sometimes requiring impairment or write-downs.

Types of losses include financial losses (operating losses, net losses, impairment losses, and write-downs of assets) as well as contingent losses (provisions for lawsuits or guarantees). Non-financial losses, such as damage to reputation, environmental harm, or loss of market share, are also encompassed under the broad idea of zaudjumus. The exact meaning depends on context, jurisdiction, and the accounting standards in use (such as IFRS or GAAP), which specify how losses are recognized, measured, and disclosed.

Losses are measured by comparing actual outcomes to expected performance or by recognizing decreases in asset values on financial statements. In insurance, losses refer to claims paid or reserved. In risk management, losses are analyzed to estimate expected loss and to inform mitigation strategies.

Mitigation focuses on risk assessment, preventive controls, diversification, insurance coverage, hedging, and business continuity planning to reduce the probability or impact of losses. Understanding zaudjumus helps evaluate financial health, resilience, and decision-making.