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In business and accounting, assets are everything of value that is owned by a person or company. The balance sheet of a firm records the monetary[1] value of the assets owned by the firm. The two major asset classes are tangible assets and intangible assets. Tangible assets contain various subclasses, including financial assets and fixed assets.[2] Financial assets include such items as accounts receivable, bonds, stocks and cash; while fixed assets include such items as buildings and equipment.[3] Intangible assets are nonphysical resources and rights that have a value to the firm because they give the firm some kind of advantage in the market place. Examples of intangible assets are goodwill, copyrights, trademarks, patents and computer programs.[3] Assets have three essential characteristics It is not necessary, in the financial accounting sense of the term, for control of assets to the benefit to be legally enforceable for a resource to be an asset, provided the entity can control its use by other means. It is important to understand that in an accounting sense an asset is not the same as ownership. In accounting, ownership is described by the term "equity," (see the related term shareholders' equity). Assets are equal to "equity" plus "liabilities."
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Asset Articles
Saving For The Long Term
by Isla Campbell
Jan 02, 2009
However much money you manage to save, it never seems to be enough. And since you will want to make the most of any and all savings you have, it is well worth spending some time thinking about what to do with them.
Most people know t...
IT Security - how to keep your assets safe
by Lee Edge
Dec 15, 2008
Hardly a week goes by without a news report about a stolen laptop or some other security breach. I guess a positive outcome of this news coverage is it has made business and individuals more security conscious. Security is always going to be a balanc...
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