1. principle-a basic generalization that is accepted as true and that can be used as a basis for reasoning or conduct; their principles of composition characterized all their works. rule. generalisation, generality, generalization-an idea or conclusion having general application; he spoke in broad generalities.
World Finance Â» Asset Management. Asset management is defined as the systematic process of long term maintenance of assets, with the objective of bringing out the best results from the assets. Asset Management is an important part of the financial sector throughout the world. It manages huge amounts of investments and helps clients reach a financial goal within a specific period of time. Asset management offers a wide range of investment options.
The following is a quotation from the IFRS Framework: An asset is a resource controlled by the enterprise as a result of past events and from which future economic benefits are expected to flow to the enterprise..This means that:n the financial accounting sense of the term, it is not necessary to be able to legally enforce the asset's benefit for qualifying a resource as being an asset, provided the entity can control its use by other means. The accounting equation is the mathematical structure of the balance sheet.