Assets: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Expand 2nd definition.) |
(Add link.) |
||
| (22 intermediate revisions by 2 users not shown) | |||
| Line 1: | Line 1: | ||
1.''Financial | 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. | |||
More generally, possessions or resources (whether or not they are owned by a financial reporting entity). | 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 == | == See also == | ||
* [[Accruals accounting]] | |||
* [[Accumulating net asset value]] | |||
* [[Alienation of assets]] | * [[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]] | * [[Balance sheet]] | ||
* [[Capital]] | * [[Capital]] | ||
* [[Capital asset pricing model]] | |||
* [[Cash]] | |||
* [[Chargeable asset]] | * [[Chargeable asset]] | ||
* [[Constant net asset value]] | |||
* [[Contingent assets]] | |||
* [[Credit]] | |||
* [[Current assets]] | * [[Current assets]] | ||
* [[Debit]] | |||
* [[Debit balance]] | * [[Debit balance]] | ||
* [[Depreciating asset]] | * [[Depreciating asset]] | ||
* [[Depreciation]] | * [[Depreciation]] | ||
* [[Digital asset]] | |||
* [[Direct investment]] | * [[Direct investment]] | ||
* [[Disaggregation]] | * [[Disaggregation]] | ||
* [[Double entry bookkeeping]] | |||
* [[Economic resource]] | |||
* [[Enhancement expenditure]] | * [[Enhancement expenditure]] | ||
* [[Equity]] | * [[Equity]] | ||
| Line 30: | Line 59: | ||
* [[Financial liability]] | * [[Financial liability]] | ||
* [[Financial risk]] | * [[Financial risk]] | ||
* [[Fixed assets]] | |||
* [[Fungible]] | * [[Fungible]] | ||
* [[High Quality Liquid Assets]] (HQLA) | |||
* [[Hire purchase]] | * [[Hire purchase]] | ||
* [[Intangible assets]] | * [[Intangible assets]] | ||
* [[Interest]] | * [[Interest]] | ||
* [[Interest gap]] | * [[Interest gap]] | ||
* [[Inventory]] | |||
* [[Lease]] | * [[Lease]] | ||
* [[Liabilities]] | * [[Liabilities]] | ||
* [[Liabilities and equity]] | * [[Liabilities and equity]] | ||
* [[Liquid]] | |||
* [[Long life assets]] | * [[Long life assets]] | ||
* [[Mismatch]] | * [[Mismatch]] | ||
* [[Natural asset]] | |||
* [[Net asset value]] | |||
* [[Net assets]] | * [[Net assets]] | ||
* [[Net worth]] | |||
* [[Non-current assets]] | |||
* [[Offset]] | * [[Offset]] | ||
* [[Pension assets]] | |||
* [[Prepayments]] | |||
* [[Property]] | |||
* [[Reporting entity]] | * [[Reporting entity]] | ||
* [[Return]] | * [[Return]] | ||
* [[Return on assets]] | |||
* [[Risk Weighted Assets]] (RWAs) | |||
* [[Sale and leaseback]] | * [[Sale and leaseback]] | ||
* [[Short life asset]] | * [[Short life asset]] | ||
* [[Tangible asset]] | * [[Tangible asset]] | ||
* [[Trade receivables]] | |||
* [[Underlying asset]] | |||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
Latest revision as of 17:12, 20 November 2023
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
