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An asset is a resource that you own or control that is expected to produce future economic value. Assets are divided into various categories for the purposes of accounting, taxation and to measure the value or financial health of an entity. The following are a few major types of assets.
Tangible AssetsTangible assets are any assets that have a physical presence. Examples include land, buildings and equipment.Intangible AssetsIntangible assets are assets that have no physical presence. Examples include patents, copyrights, goodwill and trademarks. It is usually difficult to determine the value of intangible assets.
Financial AssetsA financial asset is an asset that has a value that's based on a contract or right. Examples include cash, stocks and bonds.Fixed AssetsFixed assets are long-lived assets that cannot be easily converted into cash. Examples include property, buildings, equipment and furniture.Current AssetsCurrent assets include cash and assets that are expected to be converted into cash, consumed or expended in the next year or current operating period.Next: Examples of Assets
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