Don't miss the piglix.com special BONUS offer during our Beta-test period. The next 100 new Registered Users (from a unique IP address), to post at least five (5) piglix, will receive 1,000 extra sign-up points (eventually exchangeable for crypto-currency)!

* * * * *    Free piglix.com Launch Promotions    * * * * *

  • Free Ads! if you are a small business with annual revenues of less than $1M - piglix.com will place your ads free of charge for up to one year! ... read more

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Asset


In financial accounting, an asset is an economic resource. Anything tangible or intangible that can be owned or controlled to produce value and that is held to have positive economic value is considered an asset. Simply stated, assets represent value of ownership that can be converted into cash (although cash itself is also considered an asset).

The balance sheet of a firm records the monetary value of the assets owned by the firm. It is money and other valuables belonging to an individual or business. Two major asset classes are tangible assets and intangible assets. Tangible assets contain various subclasses, including current assets and fixed assets. Current assets include inventory, while fixed assets include such items as buildings and equipment.

Intangible assets are nonphysical resources and rights that have a value to the firm because they give the firm some kind of advantage in the market place. Examples of intangible assets are goodwill, copyrights, trademarks, patents and computer programs, and financial assets, including such items as accounts receivable, bonds and .

An asset is a resource controlled by the entity as a result of past events and from which future economic benefits are expected to flow to the entity (Framework Par 49a).

One of the most widely accepted accounting definitions of asset is the one used by the International Accounting Standards Board. The following is a quotation from the IFRS Framework: "An asset is a resource controlled by the enterprise as a result of past events and from which future economic benefits are expected to flow to the enterprise."


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Wikipedia

1,000 EXTRA POINTS!

Don't forget! that as one of our early users, you are eligible to receive the 1,000 point bonus as soon as you have created five (5) acceptable piglix.

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