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 ?
The koda Fabia R5 rally car concept to be show at Essen Motor Show
Satish Khanna, general manager, Al Fajer Information and Services said: "Arabia Essen Welding & Cutting 2013 that is held alongside twin shows − Tekno Arabia and Tube Arabia - will take place from 7 to 10 January, at the Dubai International Exhibition and Convention Centre.
Administrators were appointed to take over Bath-based von Essen after it went down in April after racking up debts of pounds 250m.
Following the collapse of Von Essen in April last year with debts of nearly pounds 300m, Mrs Reen said it had not initially been their intention to buy back the hotel as she had been due to retire in September last year.
Andrew Onraet, the company creative director at Von Essen hotels, said 'Von Essen Hotels has historically specialised in traditional country house hotels, and the Hotel Verta is the first establishment in our Metropolitan portfolio.
In November 2006, a European Union (EU) committee declared Istanbul, together with Pecs city of Hungary and Essen city of Germany, as the European Capital of Culture for 2010.
1 -- 2) At left, James Mellon, right, and Kevin Bailey have transformed the former American Renegade Theatre into the NoHo Arts Center, which is off and running with its inaugural production, ``Dorian,'' above, starring Armelia McQueen and Max von Essen.
There were years when the government did nothing, and that would probably still be the case today if it hadn't been for 9/11," said Von Essen, who retired as New York's top fire official in 2002.
21, New York City Mayor Rudolph Giuliani, Fire Commissioner Thomas Von Essen, and Forest City Ratner president Bruce C.
For "Arbeit Essen Angst," twenty-seven artists from around the world were invited to cover the themes of work, leisure, and fear.
Working with West Midlands Police, they stormed a villa in the town of Essen, near the Dutch border, and discovered the burned and battered victim inside.
Fire commissioner Thomas von Essen has been attending three to four funerals every day since the September 11 outrage which claimed the lives of 343 New York firefighters.