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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.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.


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.

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.
References in periodicals archive ?
Look up "alternative investments" on Wikipedia and it says, "An alternative investment is an investment in asset classes [emphasis mine] other than stocks, bonds and cash." Wrong!
As we emerge from the crisis in a low-rate environment, you will likely see some new asset classes emerging to fill the need for yield.
* HNWI and UHNWI asset allocations across 13 asset classes
Investors would have different asset classes to choose ranging from local stock market to investment in China, real estate and commodities including gold, Westra said.
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The characteristics of these partnerships, such as allocations of income and distribution of cashflow, vary greatly depending on the asset classes in which the partnerships invest.
At the heart of this philosophy is the knowledge that asset classes don''t all move in tandem.
In addition to considering the different financial personality traits that exist amongst wealthy investors, the report highlights their views on nine main asset classes - real estate, cash, alternative strategies (long/short funds and arbitrage), equities from both developed and emerging markets, bonds from developed governments, blue-chip corporations and high yield/emerging markets; and commodities.
Managed futures as one of the most recognized alternative investment asset classes have exhibited strong performance both in bull and bear markets for the simple reason that it fundamentally helps diversify an investment portfolio.
This offered what looked like a scientific basis to obtain attractive returns, while controlling risk by dividing all assets into classes and by investing in certain asset classes whose historical returns did not correlate, that is, did not produce similar returns over time.
As we know, the formula for optimizing the portfolio required a computer program to assess standard deviation as the measure of risk, correlations between asset classes and expected returns.
Summary: Given the volatility in returns across most asset classes, including gold, long-term investors may need to rejig their portfolios.