An asset is anything of value that can be converted into cash. It is capable of producing value and can be realised as cash. Examples of assets include property, investments, land, machinery and equipment, bonds, stocks and shares, jewellery, cars, insurance policies, intellectual property etc. From an accounting perspective, assets are divided into 2 major asset classes
- Tangible Assets – including ‘Fixed Assets’ (property; plant and equipment etc.) and ‘Current Assets’ (stock;inventory etc.)
- Intangible Assets – (patents; trademarks; copyrights; goodwill etc.) including financial assets (bonds;stocks;shares etc.)
An asset is a financial benefit recorded on a A "snapshot" of the assets and liabilities of an organisation at a single point in time.