Asset


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Related to Asset: Fixed asset, Asset turnover, ASET, Asset Test

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 ?
How about this one: If an asset is intangible, does it make an impact on the corporate bottom line?
It is important to keep all elements of the DuPont Model and their relationships with each other in mind, even as the focus is narrowed to only asset management.
The purchasing company must assign a value to all of the tangible and intangible assets purchased and record these asset values on its balance sheet.
1) The length of time the quality of the asset has been impaired;
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5 percentage points worth of interest rate cuts available to support asset prices.
Thus, B's family's wealth is $2,866 higher than A's in Example 1 above ($4,050 - $1,184), because the asset was held by B's parents, instead of B.
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The only way to get "caught" was to miss an asset that was later found by the state's Department of Human Services or to incorrectly calculate the period of ineligibility, in which case the client would be subject to a further waiting period and reapplication before he/she qualified for Medicaid.
One method of determining fair value is to discount the projected net cash flows the asset will generate.
When asset management became a common business term in the last decade, "asset" referred, for the most part, to real-estate holdings.