Assets

A useful or valuable quality, person, or thing; an advantage or resource: proved herself an asset to the company. A spy working in his or her own country and controlled by the enemy. Accounting The entries on a balance sheet showing all properties, both tangible and intangible, and claims against others that may be applied to cover the liabilities of a person or business. Assets can include cash, stock, inventories, property rights, and goodwill. The entire property owned by a person, especially a bankrupt, that can be used to settle debts.

assets

See assai 1 ]. Switch to new thesaurus. All things, such as money, property, or goods, having economic value. Used in plural: capitalfortunemean used in pluralresource used in pluralwealthwherewithal.

He is a great asset to the school. Mentioned in? References in classic literature? That is what you mean, doubtless. And what a good round belly I should have grown, what a treble chin I should have established, what a ruby nose I should have coloured for myself, so that everyone would have said, looking at me: "Here is an asset!

Here is something real and solid! View in context. What however went first of all or rather vanished was nothing in the nature of an asset. It was that plotting governess with the trick of a "perfect lady" manner severely conventional and the soul of a remorseless brigand.

He is younger than I am, and youth is a big asset nowadays. Come, speak frankly, mon fils; elle est encore jeune, plus agee que toi peut-etre, mais juste asset pour unir la tendresse d'une petite maman a l'amour d'une epouse devouee; n'est-ce pas que cela t'irait superieurement? With the usual inconsistency of the person to whom life is by no means a valuable assetI am obeying the orders of my physician.

Even as it is, she was quite right: she was suffering and that was her assetso to speak, her capital which she had a perfect right to dispose of. He contemplated with unspeakable delight the large diamond which shone on the major's little finger; for the major, like a prudent man, in case of any accident happening to his bank-notes, had immediately converted them into an available asset. Then, after dinner, on the pretext of business, he questioned the father and son upon their mode of living; and the father and son, previously informed that it was through Danglars the one was to receive his 48, francs and the other 50, livres annually, were so full of affability that they would have shaken hands even with the banker's servants, so much did their gratitude need an object to expend itself upon.

He was a good actor, and he had found geniality a most valuable asset in the game of getting on in the world.

assets

Dictionary browser? Full browser?They include money in bank accounts, stocks, bonds, mutual funds, equity in real estate, the value of your life insurance policy, and any personal property that people would pay to own.

When you figure your net worth, you subtract the amount you owe, or your liabilities, from your assets. Similarly, a company's assets include the value of its physical plant, its inventory, and less tangible elements, such as its reputation. Something of value. On a balance sheet or personal financial statement, assets will include the following items, typically arranged in order according to the ease with which they can be converted into cash:.

Cash and equivalents Cash on hand: Cash in banks Marketable securities Receivables: Accounts receivable Less reserves for bad debts Furniture, fixtures, and equipment Fine art Real property General intangibles: Stock in closely held corporations Intellectual property rights Goodwill When lenders examine balance sheets,they generally assume that individuals and small businesses overvalue the furniture, fixtures, and equipment and the general intangibles.

Large entries for cash and equivalent assets will overcome a poor credit rating 9 times out of Asset Any possession that has value in an exchange. In accountinganything of value that a person or firm buys. Assets can be physical, such as real estate or stocksa claim on debtssuch as accounts receivable or liensor a right, such as a patent. Of crucial importance to assets is their relative liquidityor the ease with which they can be converted to cash.

Liquid assets are often thought to be more useful than illiquid assets. See also: Tangible assetIntangible asset. Something of monetary value that is owned by a firm or an individual. Assets are listed on a firm's balance sheet and include tangible items such as inventories, equipment, and real estate as well as intangible items such as property rights or goodwill.

Compare liability. See also current assetintangible assettangible asset. Mentioned in?

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References in periodicals archive? Final rule--amendment to Regulation K. Legal Developments. A revocable trust allows you to control assets and change terms anytime; irrevocable trusts allow such changes while a person is living. Developing your life plan: making sure financial documents are available during a family crisis can save you time, money, and pain.

Estate Planning. Although the opportunity to lower taxes by transferring income-producing assets to children under 18 is curtailed by the kiddie tax, putting a child's funds in investments that produce little or no current taxable income can help avoid the tax; see RIA's Complete Analysis of the Tax Increase Prevention and Reconciliation Act of[paragraph] The expanded "kiddie tax" and the financial aid trap.

Allan Cohen, assistant controller for Time Warner, agrees that certain aspects of FAS are easier to apply when valuing financial instruments and more difficult to apply when valuing non-financial assets. Specifically, FAS defines fair value as the price that would be received to sell an assetwhich is an "exit price" notion.

New fair value standards stress how, not just what: Financial Executives Research Foundation got opinions from users and preparers of financial statements on whether measuring assets and liabilities at fair value--rather than historical cost--provides users with more relevant information for decision-making. Nikko AM International Inc. Thus, income earned by the trust, including gain on the sale of appreciated assetsis nontaxable to the trust.Related to assets: current assetsAssets and Liabilities.

A useful or valuable quality, person, or thing; an advantage or resource: proved herself an asset to the company. A spy working in his or her own country and controlled by the enemy.

Accounting The entries on a balance sheet showing all properties, both tangible and intangible, and claims against others that may be applied to cover the liabilities of a person or business. Assets can include cash, stock, inventories, property rights, and goodwill. The entire property owned by a person, especially a bankrupt, that can be used to settle debts.

Assets may be fixed, current, liquid, or intangible and are shown balanced against liabilities. Compare liabilities. Law law the property available to an executor or administrator for settlement of the debts and payment of legacies of the estate of a deceased or insolvent person.

Switch to new thesaurus. He is a great asset to the school. Mentioned in? References in classic literature? But my assets are very low: My little income's overspent: To trench on capital, you know, Is always inconvenient!

The dog too went: the most noble-looking item in the beggarly assets. View in context. It was when I would have said that I knew all Goldsmith; we often give ourselves credit for knowledge in this way without having any tangible assets ; and my reading has always been very desultory.

The word formerly signified not indebtedness, but possession; it meant "own," and in the minds of debtors there is still a good deal of confusion between assets and liabilities. Nor had she been ignorant of such assets as surprise and charm. That is what you mean, doubtless.

And what a good round belly I should have grown, what a treble chin I should have established, what a ruby nose I should have coloured for myself, so that everyone would have said, looking at me: "Here is an asset! Here is something real and solid! He is younger than I am, and youth is a big asset nowadays. Come, speak frankly, mon fils; elle est encore jeune, plus agee que toi peut-etre, mais juste asset pour unir la tendresse d'une petite maman a l'amour d'une epouse devouee; n'est-ce pas que cela t'irait superieurement?

Dictionary browser? Full browser?Tangible assets include money, land, buildingsinvestments, inventory, cars, trucks, boats, or other valuables.

Intangibles such as goodwill are also considered to be assets. Also known as Fixed Assetscapital assets are those tangible physical assets acquired to carry on the business of a company with a life exceeding one year. Examples include:.

What Is an Asset?

Businesses that have a high ratio of capital costs to labor costs are known as Capital Intensive businesses; that is, they require a large financial investment in capital assets to produce goods or services. Examples of capital intensive industries include:. Given that most capital assets decline in value over time, in financial records capital assets are usually expressed as the cost of the asset minus depreciation.

Capital assets depreciate at different rates depending on the asset class as defined by the tax authorities. The annual depreciation is a tax write off.

assets

Non-capital intensive businesses create wealth in ways that do not require plants, machinery, or expensive equipment, rather they rely on " intellectual capital ". Non-capital businesses have much lower barriers to entry given the minimal startup costs.

Items that are currently cash or expected to be turned into cash within one year are known as current assets. This includes:. Intangible assets do not appear on balance sheets but depending on the business may make up a substantial part of the asset value of a business. Classification of assets as tangible or intangible is not necessarily a straightforward process.

The Assets

For example, the oil and gas industry has special accounting rules for classifying petroleum reserves as either tangible or intangible depending on the stage of development, as does the mining industry e. Because the underlying commodity can be subject to large fluctuations in price, the value of assets in commodity-based industries such as oil and gas and mining can vary enormously in a relatively short period of time - the huge drop in oil prices infor instance, forced many oil and gas companies to take major write downs on assets due to the decline in the value of reserves.

On the other hand, a factory owned by a manufacturing business is typically a long term core asset that slowly depreciates in value over time. It's calculated by dividing sales revenue by the total assets:. Given that Net income is the amount earned by a company after subtracting expenses including depreciation and taxesthe Return on Assets Ratio is a measure of the ability of assets to generate profit. Asset valuation becomes a significant issue when selling a business. It might be relatively easy to determine the value of the capital assets of the business, but intangible assets can be problematic.

A business that has a client list can normally claim goodwill as an asset, but goodwill may be tied to the previous owner. For example, a dentist who sells a practice will have the client list included as an asset in the sale, but there is no guarantee that the new owner will be able to retain the clients. Better Read This First.

Want to Sell Your Business at a Profit? Do These 5 Things. Examples: A trademark is an example of an intangible fixed asset. Small Business Management. Full Bio Follow Twitter. She has run an IT consulting firm and designed and presented courses on how to promote small businesses.

Read The Balance's editorial policies. Examples of intangible assets include items such as:. For more information on selling a business see:.In financial accountingan asset is any resource owned by the business. Anything tangible or intangible that can be owned or controlled to produce value and that is held by a company to produce positive economic value is an asset. Simply stated, assets represent value of ownership that can be converted into cash although cash itself is also considered an asset.

It covers money and other valuables belonging to an individual or to a business. One can classify assets into two major asset classes: tangible assets and intangible assets. Tangible assets contain various subclasses, including current assets and fixed assets. Examples of intangible assets include goodwillcopyrightstrademarkspatents and computer programs[4] and financial assets, including such items as accounts receivablebonds and stocks.

An asset is a resource controlled by the entity as a result of past events and from which future economic benefits are expected to flow to the entity. It is the result of a past event or transaction. One of the most widely accepted accounting definitions of asset is the one used by the International Accounting Standards Board. Employees are not considered assets like machinery is, even though they can generate future economic benefits.

This is because an entity does not have sufficient control over its employees to satisfy the Framework's definition of an asset. Resources that are expected to yield benefits only for a short time can also be considered not to be assets, for example in the USA the 12 month rule excludes items with a useful life of less than a year.

Similarly, in economics an asset is any form in which wealth can be held. There is a growing analytical interest in assets and asset forms in other social sciences too, especially in terms of how a variety of things e.

In the financial accounting sense of the term, it is not necessary to be able to legally enforce the asset's benefit for qualifying a resource as being an asset, provided the entity can control its use by other means. The accounting equation is the mathematical structure of the balance sheet. It relates assets, liabilities, and owner's equity :. Assets are listed on the balance sheet.

Assets are formally controlled and managed within larger organizations via the use of asset tracking tools. These monitor the purchasing, upgrading, servicing, licensing, disposal etc. Current assets are cash and other assets expected to be converted to cash or consumed either in a year or in the operating cycle whichever is longerwithout disturbing the normal operations of a business. These assets are continually turned over in the course of a business during normal business activity.

There are 5 major items included into current assets:. Marketable securities : Securities that can be converted into cash quickly at a reasonable price. The phrase net current assets also called working capital is often used and refers to the total of current assets less the total of current liabilities.

Often referred to simply as "investments". Long-term investments are to be held for many years and are not intended to be disposed of in the near future. This group usually consists of three types of investments:.

Different forms of insurance may also be treated as long term investments. Also referred to as PPE property, plant, and equipmentthese are purchased for continued and long-term use in earning profit in a business.

This group includes as an asset landbuildingsmachineryfurnituretoolsIT equipment, e. They are written off against profits over their anticipated life by charging depreciation expenses with exception of land assets. Accumulated depreciation is shown in the face of the balance sheet or in the notes. An asset is an important factor in a balance sheet.

These are also called capital assets in management accounting. Intangible assets lack of physical substance and usually are very hard to evaluate. Websites are treated differently in different countries and may fall under either tangible or intangible assets.

Tangible assets are those that have a physical substance, such as currenciesbuildingsreal estatevehiclesinventoriesequipmentart collectionsprecious metalsrare-earth metalsIndustrial metals, and crops.Sign In.

Visual Scripting. Unity Monetization. By Unity. Poly Art Animals Forest Set. Top assets. Take your game to the next level. Assets for all users. Popular Assets.

assets

Quick Look. Will Hong Dynamic Bone. Michsky Modern UI Pack. Demigiant DOTween Pro. Cafofo Interface and Item Sounds. Sirenix Odin - Inspector and Serializer. Refine by clear filters. On Sale Only All Categories. Animations Characters Creatures Humanoids Environments Industrial Landscapes Props Electronics Furniture Interior Vegetation SpeedTree Vehicles GUI Building Concrete Add-Ons Machine Learning Services Analytics 4. Audio However, since he was living at home, our income and assets disqualified him from SSI and Medicaid.

Just last week, a New Zealand court ruled he could no longer continue hiding his assets. By Aug. Gower had debts and no assets save his land on the Squitty cliffs and the closed cannery at Folly Bay. The copies of our reports are assets and should be realized on. My grandfather seems to have mislaid or lost most of his assets before he died. Only after expensive litigation could Receiver Waite hope to add insurance and bond money to the assets.

Your assets of every sort will not return your creditors—I should say your creditor—fifteen per cent. A possession that can be turned into cash to cover liabilities. Advertisement top definitions quizzes related content examples explore dictionary british cultural asset. Take this quiz on the Words of the Day from April 6—12 to find out! Origin of asset —35; back formation from assets, in phrase have assets, literally, have enough to pay obligations asez enough.

See assai 1. Words nearby asset assessassessed valueassessmentassessment arrangementsassessorassetasset valueasset-backed fundasset-strippingassetsasseverate. Words related to assets goodswealthestatemoneyequityrichescreditcapitalbelongingsworthresourcesvaluables. Poor Man's Rock Bertrand W. Mortmain Arthur Cheny Train. Assets may be fixed, current, liquid, or intangible and are shown balanced against liabilities Compare liabilities. Word Origin for asset C back formation from assets.

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