What Can Be Considered As Assets?

In business terminology, assets are defined as large economic resources owned and controlled by an enterprise. These are the gains to the company from transactions made to it in the past, and they have economic benefits which accrue over a period of time in the future.

Assets may be classified into current assets, namely cash, short-term investments, receivables, inventory or stock, prepaid expenses; long-term investments (investments in securities, bonds, common stock or long-term notes, fixed assets such as land, special funds, subsidiaries or affiliated companies); fixed assets such as property, equipment, machinery, furniture, raw materials, etc., which are depreciated over a period of time; intangible assets such as patents, copyrights, franchises, goodwill, trademarks, trade marks, etc. and other assets that include long-term prepaid expenses, long-term receivables, intangible assets and property held for sale.

An asset is the opposite of a liability, in the sense that a liability is a loss that does not have any future economic benefit to the company as it has been made by the company.