Assets

1. Financial reporting - balance sheet.

In financial reporting, assets are defined as 'present economic resources controlled by a reporting entity as a result of past events'.

An economic resource is a right that has the potential to produce economic benefits.

Examples include cash, trade receivables, inventory, tangible fixed assets and some intangible assets.

Under the usual 'double entry' bookkeeping convention, assets are represented in the balance sheet by debit balances (often abbreviated to DR).

Some types of assets are not reported in traditional accounting balance sheets.

For example, certain types of intangible asset.

2. Assets & liabilities.

More generally, assets are any possessions or resources (whether or not they are owned or reported by a financial reporting entity).

See also

• Accruals accounting
• Accumulating net asset value
• Alienation of assets
• Asset backed commercial paper (ABCP)
• Asset beta
• Asset cover
• Asset risk
• Asset value
• Asset-based swap
• Asset-liability management
• Assets Under Management
• Balance
• Balance sheet
• Capital
• Capital asset pricing model
• Cash
• Chargeable asset
• Constant net asset value
• Contingent assets
• Credit
• Current assets
• Debit
• Debit balance
• Depreciating asset
• Depreciation
• Digital asset
• Direct investment
• Disaggregation
• Double entry bookkeeping
• Economic resource
• Enhancement expenditure
• Equity
• Fair value
• Financial asset
• Financial liability
• Financial risk
• Fixed assets
• Fungible
• High Quality Liquid Assets (HQLA)
• Hire purchase
• Intangible assets
• Interest
• Interest gap
• Inventory
• Lease
• Liabilities
• Liabilities and equity
• Liquid
• Long life assets
• Mismatch
• Natural asset
• Net asset value
• Net assets
• Net worth
• Non-current assets
• Offset
• Pension assets
• Prepayments
• Property
• Reporting entity
• Return
• Return on assets
• Risk Weighted Assets (RWAs)
• Sale and leaseback
• Short life asset
• Tangible asset
• Trade receivables
• Underlying asset