Asset


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Asset

Real or Personal Property, whether tangible or intangible, that has financial value and can be used for the payment of its owner's debts.

An accrued asset is one that arises from revenue earned but not yet due. For example, an accrued dividend is a share of the net earnings of a corporation that has been declared but has not yet been paid out to its shareholder(s).

In Bankruptcy, an asset is any form of property owned by a debtor who is insolvent that is not exempt from being used to repay debts.

For Income Tax purposes, a capital asset is property held by a taxpayer for personal enjoyment or investment, such as a home, furniture, stocks and bonds, or an automobile, but does not include inventory, commercial accounts, and notes receivable, depreciable property, commercial property, copyrights, and short-term government obligations. When a capital asset is sold, any gain received is given preferential tax treatment.A current, liquid, or quick asset is an item that can be readily converted to cash, such as stocks and bonds.

A fixed asset is one of a permanent or longterm nature used in the operation of a business and not intended for sale.

A frozen asset is one that cannot be easily converted into cash, such as real estate when there is no market, or that cannot be used because of a legal restriction, such as a spend-thrift trust.

An intangible asset is one to which an Arbitrary dollar value is attached because it has no intrinsic market value but represents financial value, such as the good will of a business, Trademarks, or Patents.

asset

n. generally any item of property that has monetary value, including articles with only sentimental value (particularly in the estates of the dead). Assets are shown in balance sheets of businesses and inventories of probate estates. There are current assets (which includes accounts receivable), fixed assets (basic equipment and structures), and such intangibles as business good will and rights to market a product.

See: advantage, chattel, holding, item, possession, property, resource, share, stock
References in periodicals archive ?
If she uses the proceeds to purchase, for example, a computer before she signs the FAFSA in 2008, the proceeds are not included as an asset on the FAFSA.
It is critical that reverse logistics organizations be able to provide serial number capture for each asset at the time of pick-up.
When you have an intangible asset such as a patent or trademark, the boundaries are not as clear as with a tangible asset such as a building.
However, this results in cash being tied up in relatively unproductive assets (additional inventory).
Minimize the cost of development and maintenance through asset reuse.
The ABC Research Foundation's research team organizes intangible assets (goods and competencies) in three categories that correlate with the corporate bottom line: human capital (experiences and expertise of people who produce knowledge), relational capital (the connectivity and exchange process-knowledge production) and structural capital (organizational infrastructure that allows connectivity to take place--the knowledge production process enabler).
The purchase price allocable to any individual asset may be at or below its FMV, depending on whether the purchase price was above or below the fair market value of the target.
The ATRR must be established for each asset subject to the ATRR in the percentage amount specified.
In addition, fixed assets (machinery, equipment, real estate) can be used to collateralize an asset-based loan.
The pivotal role of asset prices would not surprise economists who have studied the pre-World War II period.
To some extent, managers may need to adjust investigators' caseloads to compensate for the additional tasks associated with asset forfeiture.
A life insurance company's asset portfolio cannot be evaluated solely by the returns generated; the asset portfolio must generate competitive returns and ensure the funding of the guarantees made to policyholders.