Asset

assetstotal assetstangible assettangibleasset classesfinancial assetFinancial AssetsAccountsasset managementAverage Total Assets
In financial accounting, an asset is any resource owned by the business.wikipedia
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Balance sheet

statement of financial positionbalance sheetsbalance-sheet
The balance sheet of a firm records the monetary value of the assets owned by that firm. The accounting equation is the mathematical structure of the balance sheet.
Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year.

Intangible asset

intangible assetsintangibleintangibles
One can classify assets into two major asset classes: tangible assets and intangible assets.
An intangible asset is an asset that lacks physical substance.

Business

for-profitenterprisefirm
It covers money and other valuables belonging to an individual or to a business.
Sole proprietorship: A sole proprietorship, also known as a sole trader, is owned by one person and operates for their benefit. The owner operates the business alone and may hire employees. A sole proprietor has unlimited liability for all obligations incurred by the business, whether from operating costs or judgments against the business. All assets of the business belong to a sole proprietor, including, for example, computer infrastructure, any inventory, manufacturing equipment, or retail fixtures, as well as any real property owned by the sole proprietor.

Fixed asset

fixed assetsfixedproperty, plant, and equipment
Tangible assets contain various subclasses, including current assets and fixed assets.
Fixed assets, also known as tangible assets or property, plant and equipment (PP&E), is a term used in accounting for assets and property that cannot easily be converted into cash.

Current asset

current assetscurrentfloating asset
Tangible assets contain various subclasses, including current assets and fixed assets.
In accounting, a current asset is any asset which can reasonably be expected to be sold, consumed, or exhausted through the normal operations of a business within the current fiscal year or operating cycle (whichever period is longer).

Ownership

ownerownersown
Simply stated, assets represent value of ownership that can be converted into cash (although cash itself is also considered an asset).
State ownership: ownership of an industry, asset, or enterprise by the state or a public body representing a community as opposed to an individual or private party.

Wealth

savingsaffluentwealthy
Similarly, in economics an asset is any form in which wealth can be held.
In economics, net worth refers to the value of assets owned minus the value of liabilities owed at a point in time.

Accounting equation

assets minus liabilities equals owners' equityliabilities
The accounting equation is the mathematical structure of the balance sheet.
The fundamental accounting equation, also called the balance sheet equation, represents the relationship between the assets, liabilities, and owner's equity of a person or business.

Equity (finance)

equityshareholders' equityequity capital
It relates assets, liabilities, and owner's equity:
In accounting, equity (or owner's equity) is the difference between the value of the assets and the value of the liabilities of something owned.

Inventory

inventoriesstockstock in trade
Current assets include inventory, while fixed assets include such items as buildings and equipment.
An organization's inventory can appear a mixed blessing, since it counts as an asset on the balance sheet, but it also ties up money that could serve for other purposes and requires additional expense for its protection.

Liability (financial accounting)

liabilitiesliabilitydebt
Assets = Liabilities + Capital (which for a corporation equals owner's equity) 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.
obliged to make to other entities as a result of past transactions or other past events, the settlement of which may result in the transfer or use of assets, provision of services or other yielding of economic benefits in the future.

Working capital

capitalWorking capital analysiscapitalized
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.
A company can be endowed with assets and profitability but may fall short of liquidity if its assets cannot be readily converted into cash.

Market liquidity

liquidityliquidilliquid
1) Cash and cash equivalents – it is the most liquid asset, which includes currency, deposit accounts, and negotiable instruments (e.g., money orders, cheque, bank drafts).
In business, economics or investment, market liquidity is a market's feature whereby an individual or firm can quickly purchase or sell an asset without causing a drastic change in the asset's price.

Financial accounting

financial accountsaccountingfinancial accountancy
In financial accounting, an asset is any resource owned by the business.
The balance sheet is the financial statement showing a firm's assets, liabilities and equity (capital) at a set point in time, usually the end of the fiscal year reported on the accompanying income statement.

Accounts receivable

receivablereceivablesaccounts receivables
Examples of intangible assets include goodwill, copyrights, trademarks, patents and computer programs, and financial assets, including such items as accounts receivable, bonds and stocks.
Accounts receivable is shown in a balance sheet as an asset.

Deferral

deferreddeferringprepaid expense
5) Prepaid expenses – these are expenses paid in cash and recorded as assets before they are used or consumed (common examples are insurance or office supplies). See also adjusting entries.
A deferral, in accrual accounting, is any account where the asset or liability is not realized until a future date (accounting period), e.g. annuities, charges, taxes, income, etc. The deferred item may be carried, dependent on type of deferral, as either an asset or liability.

12 month rule

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.
In the field of taxation in the US, the 12 Month Rule refers to the capitalization of property or assets that provide only short-term benefits.

Depreciation

depreciateddepreciateaccumulated depreciation
They are written off against profits over their anticipated life by charging depreciation expenses (with exception of land assets).
The decrease in value of assets (fair value depreciation)

Deposit account

depositsdepositbank deposit
1) Cash and cash equivalents – it is the most liquid asset, which includes currency, deposit accounts, and negotiable instruments (e.g., money orders, cheque, bank drafts).
From a legal and financial accounting standpoint, the noun "deposit" is used by the banking industry in financial statements to describe the liability owed by the bank to its depositor, and not the funds that the bank holds as a result of the deposit, which are shown as assets of the bank.

Capital asset

capital assetscapitalcapital cost
These are also called capital assets in management accounting.
In financial economics, capital refers to any asset used to make money, as opposed to assets used for personal enjoyment or consumption. This is an important distinction because two people can disagree sharply about the value of personal assets, one person might think a sports car is more valuable than a pickup truck, another person might have the opposite taste. But if an asset is held for the purpose of making money, taste has nothing to do with it, only differences of opinion about how much money the asset will produce. With the further assumption that people agree on the probability distribution of future cash flows, it is possible to have an objective capital asset pricing model. Even without the assumption of an agreement, it is possible to set rational limits on capital asset value.

Trading account assets

trading account
Trading account assets
Trading account assets refer to a separate account managed by banks that buy (underwriting) U.S. government securities and other securities for their own trading account or for resale at a profit to other banks and to the public, rather than for investment in the bank's own investment portfolio.

Land (economics)

landland economicsland economy
This group includes as an asset land, buildings, machinery, furniture, tools, IT equipment, e.g, laptops, and certain wasting resources e.g., timberland and minerals.
As a tangible asset land is represented in accounting as a fixed asset or a capital asset.

Investment

investmentsinvestingcapital investment
2) Short-term investments – include securities bought and held for sale in the near future to generate income on short-term price differences (trading securities).
Asset

Value (economics)

valueeconomic valuemonetary value
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.

Cash

bag of stolen moneycash incomeCASH n.1
Simply stated, assets represent value of ownership that can be converted into cash (although cash itself is also considered an asset).