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Asset

AnalyticsTrade Team
AnalyticsTrade Team Last updated on 26 Apr 2023

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Asset

An asset is a resource with economic value that an individual, corporation or country owns or controls with the expectation that it will provide future benefit. Assets are reported on a company’s balance sheet and are bought or created to increase a firm’s value or benefit the firm’s operations. Assets can be divided into two major asset classes: tangible assets and intangible assets.

History of the Term

The term “asset” has been used in accounting since the 15th century. The term was first used to refer to the value of a company’s assets, which was then used to calculate the company’s net worth. Over time, the term has evolved to include a variety of different types of assets, including tangible assets such as land, buildings, and equipment, and intangible assets such as intellectual property, goodwill, and brand recognition.

Comparison Table

Asset Type Tangible Intangible
Examples Land, buildings, equipment Intellectual property, goodwill, brand recognition
Value Measurable Not measurable
Depreciation Yes No

Summary

An asset is a resource with economic value that an individual, corporation or country owns or controls with the expectation that it will provide future benefit. Assets can be divided into two major asset classes: tangible assets and intangible assets. Tangible assets are physical assets that have a measurable value, while intangible assets are non-physical assets that do not have a measurable value. Further information about assets can be found on websites such as Investopedia, The Balance, and the Financial Times.

See Also

  • Liabilities
  • Equity
  • Cash Flow
  • Net Worth
  • Fixed Assets
  • Current Assets
  • Depreciation
  • Amortization
  • Capital Expenditure
  • Working Capital

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