Asset

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Related to Financial Asset: Physical asset

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 number of firms that have reported unclaimed financial assets to the government has increased 208 per cent from mid last year, pushing deposits at the trust fund to Sh33 billion up from Sh25.
Additionally, "How To Do Financial Asset Investigations" provides an essential understanding of the digital forensics and mobile digital technologies as it steers private investigators, collections specialists, judgment professionals, and asset recovery specialists in undertaking legal information collection in a most challenging age.
The survey divides asset holdings between financial assets and nonfinancial assets (like houses and cars).
Release date- 16082012 - The financial assets of households rose by around EUR91 billion in the first quarter of 2012 to EUR4,805 billion at the end of the quarter.
If the new IRA saving substituted for other financial asset saving, one would expect other saving to decline between 1984 and 1985.
The Fair Value Option for Financial Assets and Financial Liabilities
Despite the increase in financial assets as a proportion of total family assets, the ownership of several types of financial assets fell sharply (tables 3 and 4).
SAP Financial Asset Management has been crucial in supporting our efforts to expand our North American footprint, said Thomas Graf, head, Group Investment Administration & Accounting, Zurich.
Morgan, New York, and a member of the American Institute of CPAs stockbrokerage and investment banking committee, believes that "the proposal is of major significance to participants in the financial markets and the accounting profession, as it establishes new rules for determining when transfers of financial assets should be accounted for as sales and applies the rules to a significantly broader scope of transactions than the current accounting literature does.
New Delhi [India], Dec 29 ( ANI ): The financial assets of Indian residents' abroad exhibited an increase of USD 18.
Households: upward trend in acquisition of financial assets slightly weakened while external financing more robust
But a doubling in the value of financial assets such as stocks and shares, bank deposits, government bonds and pensions has seen financial wealth become increasingly important over the past decade.

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