Search for notes by fellow students, in your own course and all over the country.
Browse our notes for titles which look like what you need, you can preview any of the notes via a sample of the contents. After you're happy these are the notes you're after simply pop them into your shopping cart.
Title: TYPES OF ASSETS
Description: An asset is a resource that is owned or controlled by an individual, corporation, or government expecting it will generate a positive economic benefit. Classification of assets is a process for systematic segregation of the assets into various groups.
Description: An asset is a resource that is owned or controlled by an individual, corporation, or government expecting it will generate a positive economic benefit. Classification of assets is a process for systematic segregation of the assets into various groups.
Document Preview
Extracts from the notes are below, to see the PDF you'll receive please use the links above
TYPES OF ASSETS
An asset is a resource that is owned or controlled by an individual, corporation, or
government expecting it will generate a positive economic benefit
...
Properly identifying and classifying the assets is vital to the survival of a company,
specifically its solvency and associated risks
...
Convertibility- that means classifying assets based on how easy it is to convert them
into cash
...
Current Asset
These are the assets that are held in the business for less than one year
...
Examples include cash, short-term deposits,
accounts receivables, inventories, marketable securities etc
...
These assets are expected to provide benefits to the business for several years
...
Examples include land, building,
machinery, equipment etc
...
Physical Existence- assets are classified as either tangible assets or intangible assets
Tangible assets
Tangible assets are those assets that have a physical existence, that is, which are capable of
being touched, felt, and seen
...
Intangible assets
These are assets that lack physical existence
...
Examples include patent, license, brand, copyright, goodwill, tradename etc
...
Usage- classifies assets based on their business operation usage or purpose
...
Operating assets
Operating assets are required in the daily operation of a business
...
Examples include inventory, accounts
receivable, property, plant and equipment, cash etc
...
They include fixed
deposits, marketable securities, idle equipment, vacant land etc
Title: TYPES OF ASSETS
Description: An asset is a resource that is owned or controlled by an individual, corporation, or government expecting it will generate a positive economic benefit. Classification of assets is a process for systematic segregation of the assets into various groups.
Description: An asset is a resource that is owned or controlled by an individual, corporation, or government expecting it will generate a positive economic benefit. Classification of assets is a process for systematic segregation of the assets into various groups.