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In business and accounting, assets are everything of value that is owned by a person or company. It is a claim on the property your income of a borrower. The balance sheet of a firm records the monetaryJ.G.Siegel, N.Dauber & J.K.Shim, "The Vest Pocket CPA", Wiley, 2005.

There are different methods of assessing the monetary value of the assets recorded on the Balance Sheet. In some cases, the Historical Cost is used; such that the value of the asset when it was bought in the past is used as the monetary value. In other instances, the present fair market value of the asset is used to determine the value shown on the balance sheet.

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Blogs for Assets

ASSETS

A phone call from the ASSETS Co-ordinator informs me that today I am supposed to ... Home • About • Blogs • Videos • Press • Contact ...assets.wildlifedirect.org/

Business IP and Intangible Asset Blog, Michael D. Moberly

... and Intangible Asset Report and Blog --- Michael D. Moberly ... ( For a practical definition and examples of intangible assets see April 3d post at this blog. ...kpstrat.com/blog/

Asset Search & Hidden Assets : Lawyer & Attorney Fred Abrams : Tax ...

Bankruptcy Lawyer Blog - Start Fresh Today ... Asset Search Blog. Fred L. Abrams, Attorney At Law. 305 Broadway, Suite 804. New York, N.Y. 10007 ...www.assetsearchblog.com/

Florida Asset Protection : Asset Protection Law and Planning in Florida ...

This blog, edited by Orlando, FL asset protection attorney Jonathan Alper, ... Florida Asset Protection Blog ... David M. Goldman. List your legal blog here. ...floridaassetprotection.blogs.com/alperlaw/

Asset Management Resources Blog

Testimonials of fixed asset management and other services from Asset Management Resouces. ... The Asset Management Resources blog is a resource for anyone ...blog.assetmanagementresources.com/

Wikipedia About Assets

In business and accounting, assets are everything of value that is owned by a person or company. It is a claim on the property your income of a borrower. The balance sheet of a firm records the monetaryJ.G.Siegel, N.Dauber & J.K.Shim, "The Vest Pocket CPA", Wiley, 2005.

There are different methods of assessing the monetary value of the assets recorded on the Balance Sheet. In some cases, the Historical Cost is used; such that the value of the asset when it was bought in the past is used as the monetary value. In other instances, the present fair market value of the asset is used to determine the value shown on the balance sheet.

Asset characteristics

Assets have three essential characteristics:

  • The probable future benefit involves a capacity, singly or in combination with other assets, in the case of profit oriented enterprises, to contribute directly or indirectly to future net cash flows, and, in the case of not-for-profit organizations, to provide services;
  • The entity can control access to the benefit;
  • The transaction or event giving rise to the entity's right to, or control of, the benefit has already occurred.

It is not necessary, in the financial accounting sense of the term, for control of assets to the benefit to be legally enforceable for a resource to be an asset, provided the entity can control its use by other means.

It is important to understand that in an accounting sense an asset is not the same as ownership. Assets are equal to "equity" plus "liabilities."

The accounting equation relates assets, liabilities, and owner's equity:

Assets = Liabilities +Capital (Owners' Equity)

The accounting equation is the mathematical structure of the balance sheet.

Assets are listed on the balance sheet. Similarly, in economics an asset is any form in which wealth can be held.

Probably the most accepted accounting definition 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."

Assets are formally controlled and managed within larger organizations via the use of asset tracking tools. These monitor the purchasing, upgrading, servicing, licensing, disposal etc., of both physical and non-physical assets.

Current assets

main: Current asset

Current assets are cash and other assets expected to be converted to cash, sold, or consumed either in a year or in the operating cycle. These assets are continually turned over in the course of a business during normal business activity. There are 5 major items included into current assets:

  1. Cash and cash equivalents — it is the most liquid asset, which includes currency, deposit accounts, and negotiable instruments (e.g., money orders, cheque, bank drafts).
  2. Short-term investments — include securities bought and held for sale in the near future to generate income on short-term price differences (trading securities).
  3. Receivables — usually reported as net of allowance for uncollectable accounts.
  4. Inventory — trading these assets is a normal business of a company. The inventory value reported on the balance sheet is usually the historical cost or fair market value, whichever is lower. This is known as the "lower of cost or market" rule.
  5. Prepaid expenses — these are expenses paid in cash and recorded as assets before they are used or consumed (a common example is insurance). See also adjusting entries.

Search results for Assets

asset: West's Encyclopedia of American Law (Full Article) from Answers.com

asset ( ) n. A useful or valuable quality, person, or thing; an advantage or ... Assets can include cash, stock, inventories, property rights, and goodwill. ...www.answers.com/topic/asset

asset Definition

asset - definition of asset - Any item of economic value owned by an individual ... On a balance sheet, assets are equal to the sum of liabilities, common stock, ...www.investorwords.com/273/asset.html

What Kids Need: Developmental Assets | Search Institute

Search Institute's 40 Developmental Assets® are common sense, positive ... Need some ideas for building assets? ... to make the assets as effective and far ...www.search-institute.org/assets/

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Current Assets

Current Assets - Definition of Current Assets on Investopedia - 1. A balance ... Current assets include cash, accounts receivable, inventory, marketable ...www.investopedia.com/terms/c/currentassets.asp

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News about Assets

Family of 'Wizard of Oz' Munchkin Mickey Carroll sue caretaker for control of actor's assets

Minneapolis-St. Paul Star TribuneST. LOUIS - The heirs of the late "Wizard of Oz" actor Mickey Carroll have sued his caretaker for control of his assets. Carroll, one of the last surviving Munchkins from the beloved 1939 film, died in suburban St. Louis on Thursday at age 89.http://www.startribune.com/entertainment/movies/44642422.htm...

AT&T nears deal to buy some Alltel assets: sources

Reuters via Yahoo! NewsAT&T Inc is close to a $2.5 billion deal to acquire the bulk of Alltel Wireless assets being divested by Verizon Communications Inc , sources familiar with the situation said Friday.http://news.yahoo.com/s/nm/20090508/bs_nm/us_verizon_att_2

AT&T To Buy Verizon Assets In Iowa

KCCI 8 Des MoinesAT&T is buying some of Verizon's assets in parts of rural Iowa.http://www.kcci.com/news/19417083/detail.html

'Fed Govt not sabotaging Selangor bid for water assets'

Business Times (Malaysia)THE federal government is not sabotaging Selangor by making direct offers to take over water assets of the four private concession companies in the opposition-ruled state.http://www.btimes.com.my/Current_News/BTIMES/articles/h20/Ar...

AT&T to Pay $2.35 Billion for Verizon Wireless Assets (Update1)

BloombergMay 8 (Bloomberg) -- AT&T Inc. , the second-biggest U.S. mobile-phone company, agreed to pay $2.35 billion in cash to buy assets that regulators forced Verizon Wireless to sell.http://www.bloomberg.com/apps/news?pid=20601087&sid=aWeKO5It...

News about Assets

Chrysler's creditors give up

Detroit Free PressTwo of the five investors holding $295 million of Chrysler's $6.9 billion in secured debt -- loans backed by the company's assets -- said the group withdrew because it lacked the clout to win any meaningful changes in the deal offered by the Obama ... http://www.freep.com/article/20090509/BUSINESS01/905090424/0...

AT&T gets some Verizon Wireless territories; more than 1 million ...

Minneapolis Star TribuneNEW YORK - AT&T Inc. said Friday it will buy the assets of Verizon Wireless in 79 mainly rural areas for $2.35 billion, a deal that will affect more than 1 million subscribers. Verizon Wireless was forced to sell the service areas, which are spread ... http://www.startribune.com/local/44643447.html?elr=KArks:DCi...

Cautious banks open a trickle of loans

Times OnlineThe £1.3 billion scheme was set up this year to provide funding to viable small firms that did not have any assets on which to secure a conventional loan and needed funding to tide them over the economic downturn. However, the scheme, in which the ... http://business.timesonline.co.uk/tol/business/industry_sect...

Rally May Be Cause for Hope, or a Blip

New York TimesIn his analysis, though, the basis for the current rally does not necessarily augur well for the future. “We think that it’s mainly due to the end of deleveraging — forced liquidation of stocks and other assets by hedge funds and the like ... http://www.nytimes.com/2009/05/10/business/economy/10mark.ht...

A round-up of where to go for bank shares

Times Online ... start of April, outperforming the broader market by 19%,” he said. “Enthusiasm over first-quarter earnings and hopes for a near-term economic recovery have helped, but with the sector now trading at 1.2 times book value (the value of assets on ... http://www.timesonline.co.uk/tol/money/investment/article625...

Search results for Assets

ASSETS School

ASSETS is an independent school for gifted and/or dyslexic children which provides an individualized, integrated learning environment. ASSETS' environment empowers these children ... http://www.assets-school.net/

Assets - definition of Assets by the Free Online Dictionary, Thesaurus ...

as·set (s t) n. 1. A useful or valuable quality, person, or thing; an advantage or resource: proved herself an asset to the company. 2. A valuable item that is owned.http://www.thefreedictionary.com/assets

What Kids Need: Developmental Assets | Search Institute

What Are Developmental Assets? Search Institute’s 40 Developmental Assets® are common sense, positive experiences and qualities that help influence choices young people make and ... http://www.search-institute.org/assets/

Assets legal definition of Assets. Assets synonyms by the Free Online ...

ASSETS. The property in the hands of an heir, executor, administrator or trustee, which is legally or equitably chargeable with the obligations, which such heir, executor ... http://legal-dictionary.thefreedictionary.com/Assets

Alaska Supported Living, Supported Employment and Contract Services

Assets provides contract services to Anchorage businesses with a labor force of over 280 people. We offer everything from janitorial to offset printing and binding.http://www.assetsinc.org/

Wikipedia results for Assets

Asset - Wikipedia, the free encyclopedia

In business and accounting, assets are everything of value that is owned by a person or company. It is a claim on the property your income of a borrower.http://en.wikipedia.org/wiki/Asset

Toxic asset - Wikipedia, the free encyclopedia

The term "toxic asset" is a nontechnical term used to describe certain financial assets when their value has fallen significantly and when there is no longer a functioning market ... http://en.wikipedia.org/wiki/Toxic_assets

Return on assets - Wikipedia, the free encyclopedia

The return on assets (ROA) percentage shows how profitable a company's assets are in generating revenue. ROA can be computed as: This number tells you what the company can do with ... http://en.wikipedia.org/wiki/Return_on_assets

Lists of corporate assets - Wikipedia, the free encyclopedia

This page is an index for lists of some assets owned by large corporations.http://en.wikipedia.org/wiki/Lists_of_corporate_assets

Fixed asset - Wikipedia, the free encyclopedia

Fixed asset, also known as property, plant, and equipment (PP&E), is a term used in accountancy for assets and property which cannot easily be converted into cash.http://en.wikipedia.org/wiki/Fixed_assets
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Videos found for Assets

Business Answers: Selling a Client ...

Business Answers: Selling a Client List & Protecting Personal AssetsMay 3: Rod Kurtz, the Senior Editor at Inc. Magazine and Barbara Weltman, a small business attorney and author of the newsletter "Big Ideas for Small Business," answer viewer...Windows Media - Video

Connecticut Judge Freezes Assets Of...

Connecticut Judge Freezes Assets Of Chimp's OwnerThe family of Charla Nash is suing for 50 million dollars after Nash lost her hands, nose, lips and eyelids in the February attack. Dave Gonzales reports.Windows Media - Video

Bernstein Favors Investing in 'High...

Bernstein Favors Investing in 'Higher Quality' AssetsRichard Bernstein, former chief investment strategist at Merrill Lynch & Co., and Richard Bove, an analyst at Rochdale Securities, talk with Bloomberg's Erik Schatzker and Julie...Windows Media - Video

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Toxic asset plan a 'win-win-lose' s...

Toxic asset plan a 'win-win-lose' situation?April 16: Nobel Prize-winning economist Joseph Stiglitz joins the Morning Joe gang to discuss the Obama administration's plan to deal with the toxic assets dogging some U.S....Windows Media - Video

Answers for Assets

Kevin SWhat is your analysis of net tangible assets as a fundamental criteria?Kevin SI have no idea--good luck finding the answerdabeav72How to protect my assets from a deficiency judgement?dabeav72If you have assets, why wouldn't you just pay your bills? I don't understand this reasoning. Someone was kind enough to lend you the money when you needed it, yet you will work and research to stiff...antec0721How do you do the accounting for fixed assets purchased in a foreign currency?antec0721You just translate the Yen price to USD cost at time of acquisition and it stays at that cost thereafter. You don't revalue foreign currency non-monetary assets. However you still follow the rest of t...robertay165Does putting assets in a Revocable Living Trust allow a Senior to qualify for Medicare?robertay165If you mean Medicaid, I believe the "revocable" part of this trust structure will disallow its exclusion from her estate - meaning she will have to include the amount of the trust in determining wheth...phlogHow do we transfer (Accounting) fixed assets and inventory from one corporation to a new corporation?phlogYou definitely should talk to a CPA. Corporations cannot have tax-free dissolutions so what you are describing is a taxable event. Whether it is a taxable gain depends on your basis and the current ...
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