what's means assets in p
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What is an 'Asset' What is an '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 they are bought or created to increase the value of a firm or benefit the firm's operations. An asset can be thought of as something that in the future can generate cash flow, reduce expenses, improve sales, regardless of whether it's a company's manufacturing equipment or a patent on a particular technology.
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What is an 'Asset' BREAKING DOWN 'Asset' An asset represents a present economic resource of a company to which it has a right or other type of access that other individuals or firms do not have. A right or other access is legally enforceable, which means that a company can use economic resource at its discretion, and its use can be precluded or limited by an owner. For an asset to be present, a company must possess a right to it as of the date of the financial statements.
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- Balance refers to the fact that assets always equal liabilities, as well as that ideally there is coverage of short-term liabilities by short-term assets, and a balanced proportion between equity and debt.
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How to Calculate Liabilities Instructions. Add a company's assets to calculate total assets. Assets are all things the company deems valuable and include both current and non-current assets. Current assets (short-term) are assets that are convertible into cash within one year; non-current assets (long-term) are assets of a more permanent nature.
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- Assets are items of monetary value owned by a business. They can be tangible objects such as CD players, bikes, toys, cash, etc. a asset is something you own or you business… owns       Property owned by a person or company, regarded as having value and  available to meet debts, commitments, or legacies.
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asset 1 assets plural a : the property of a deceased person subject by law to the payment of his or her debts and legaciesb : the entire property of a person, association, corporation, or estate applicable or subject to the payment of debts. 2 : advantage, resource His wit is his chief asset.
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Examples of Assets Personal assets might be tangible or intangible. They can be assets owned by the person or assets related to the person's personal characteristics. Examples of owned personal assets include:
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What is the meaning of net assets? What is the meaning of net assets? Net assets is defined as total assets minus total liabilities. In a sole proprietorship the amount of net assets is reported as owner's equity. The changes in these net asset classifications are reported in the organization's statement of activities.
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- Fixed asset. 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. This can be compared with current assets such as cash or bank accounts, which are described as liquid assets.
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- 1 Arthur Stacy: Gwen Stacy's uncle, a private investigator, first appeared in The Amazing Spider-Man (vol. 1) #93 and #95. 2  He was reintroduced only in the 1990s, in Peter Parker: Spider-Man #70 (in the last part of 'Clone Saga').
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- DEFINITION of 'Wealth'. A measure of the value of all of the assets of worth owned by a person, community, company or country. Wealth is the found by taking the total market value of all the physical and intangible assets of the entity and then subtracting all debts.
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Definitions &Translations Wiktionary(4.00 / 2 votes)Rate this definition: 1  asset(Noun) Something or someone of any value; any portion of one's property or effects so considered. 2  asset(Noun) Any component, model, process or framework of value that can be leveraged or reused. 3  asset(Noun) intelligence asset.
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Asset An asset is a resource controlled by the entity as a result of past events and from which future economic benefits are expected to flow to the entity (Framework Par 49a).mployees are not considered assets like machinery is, even though they can generate future economic benefits. This is because an entity does not have sufficient control over its employees to satisfy the Framework's definition of an asset.
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assets 2 within the context of company and business accounts assets may be categorized as fixed assets or current assets. Fixed assets are those acquired with the intention that they should be held and used without change over a long period for the purpose of earning income.
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Financial Dictionary BREAKING DOWN 'Asset'. 1. Assets are bought to increase the value of a firm or benefit the firm's operations. You can think of an asset as something that can generate cash flow, regardless of whether it's a company's manufacturing equipment or an individual's rental apartment.2. In the context of accounting, assets are either current or fixed (non-current). Current means that the asset will be consumed within one year.EFINITION of 'Asset'. 1. A resource with economic value that an individual, corporation or country owns or controls with the expectation that it will provide future benefit. 2. A balance sheet item representing what a firm owns.
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Definition of Assets [FASB Concept Statement 6] Definition of Assets [FASB Concept Statement 6] There is no more fundamental concept in accounting than assets. Assets, or economic resources, are the lifeblood of both business enterprises and not-for-profit organizations. Without assets—to exchange for, combine with, or transform into other assets—those entities would have no reason to exist.
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- Construction-In-Process (CIP) Assets A construction-in-process (CIP) asset is an asset you construct over a period of time. Create and maintain your CIP assets as you spend money for raw materials and labor to construct them. Since a CIP asset is not yet in use, it does not depreciate and is only in the corporate book. When you finish building the CIP asset, you can place it in service and begin depreciating it. You can track CIP assets in Oracle Assets, or you can track detailed information about your CIP assets in Oracle Projects.
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Current Assets and Fixed Assets on a Balance Sheet Explained ASSETS (second component of the Balance Sheet) Assets are economic resources of a business. For example, cash is an asset which allows a company to buy other assets or resources, pay debts a company may have, or pay Operating Expenses. Assets can be classified into two categories; - Current Assets and Fixed Assets.
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"What does ""assets"" mean?" Money in our bank account is an asset. It's a very liquid asset because we can spend it right now. A building we own is an asset too because it has value - but it's not very liquid. We'd have to sell it (or borrow money against it) in order to use the value to spend it. But we still own it - so it's an asset. Money other people owe us is an asset. The more likely they are to pay us, the better the asset. It's not liquid either because we can't spend money we didn't get yet. Some assets decline in value over time - like your car. The more you drive it, the less it's worth.
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- The Bottom Line. Assets are generally defined as things a company owns, which are expected to provide future benefits. There are two main types of assets: current assets and noncurrent assets. Within these two categories, there are numerous subcategories, or line items.he Bottom Line. Assets are generally defined as things a company owns, which are expected to provide future benefits. There are two main types of assets: current assets and noncurrent assets. Within these two categories, there are numerous subcategories, or line items.
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assets 3. Assets enter maim, or assets in hand, is such property as at once comes to the executor or other trustee, for the purpose of satisfying claims against him as such. Termes de la Ley. 4.
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- DEFINITION of 'Asset'. 1. A resource with economic value that an individual, corporation or country owns or controls with the expectation that it will provide future benefit. 2. A balance sheet item representing what a firm owns.
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Bank Balance Sheet: Assets, Liabilities, and Bank Capital An asset is anything that can be sold for value. A liability is an obligation that must eventually be paid, and, hence, it is a claim on assets. The owner's equity in a bank is often referred to as bank capital, which is what is left when all assets have been sold and all liabilities have been paid. The relationship of the assets, liabilities, and owner's equity of a bank is shown by the following equation:
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asset An asset can be (1) something physical, such as cash, machinery, inventory, land and building, (2) an enforceable claim against others, such as accounts receivable, (3) right, such as copyright, patent, trademark, or (4) an assumption, such as goodwill.
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asset In accounting, anything of value that a person or firm buys. Assets can be physical, such as real estate or stocks, a claim on debts, such as accounts receivable or liens, or a right, such as a patent. Of crucial importance to assets is their relative liquidity, or the ease with which they can be converted to cash.
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- What is 'Equity '. The value of an asset less the value of all liabilities on that asset. BREAKING DOWN 'Equity '. Yet, because of the variety of types of assets that exist, this simple definition can have somewhat different meanings when referring to different kinds of assets.